SolarMax Banks on Sunny Name to Draw Investors to Its IPO

The builder of solar farms in China and rooftop solar systems in the U.S. is seeking to raise $30 million in a New York listing Key Takeaways: Solar power systems developer SolarMax is aiming to raise $30 million in a New York listing, but investors could balk at the company’s lack of diversity The IPO marks the latest signal that Chinese listings could soon gain momentum in New York after a yearlong near-halt due to regulatory concerns in the U.S. and China By Doug Young   Its name may sound…

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Daqo New Energy Sees Strong First-Half Profit, Continued Rising Polysilicon Prices

Producer of the main ingredient used to make solar panels forecasts the profit for its China-listed subsidiary roses 340% in the first half of the year Key Takeaways: Daqo New Energy said the profit for its China-listed unit rose about 340% in the first half of the year, slowing from the 389% growth in the first quarter The company forecast polysilicon prices will continue to rise in the near-term, reversing a previous weakening from record levels at the start of the year By Doug Young When is a 340% profit…

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ReneSola Encounters Headwinds but Looks Better Positioned Than Most

Solar farm builder reports 85% revenue plunge and first-quarter loss, but sees situation improving through the year Key Takeaways: ReneSola has encountered recent headwinds due to Covid-related lockdowns in China and withdrawal from a major U.S. project Company looks better positioned than peers from other industries due to accelerating focus on renewable power construction in the west By Doug Young Its inclusion in a couple of solar promotion programs powered solar farm builder ReneSola Ltd. (SOL.US) to a market-beating performance on Tuesday, defying a bigger selloff that saw the S&P…

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JinkoSolar Pushes Into Power Storage with New European Tie-Up

Germany’s Memodo will use Jinko-supplied storage systems in new solar projects across Germany, Austria, and Switzerland Key Takeaways: A German wholesaler has agreed to distribute JinkoSolar’s PV panels and batteries in Germany, Austria, and Switzerland through the end of next year The deal signals JinkoSolar’s push into battery storage to complement its solar panel business and maintain its spot as the world’s biggest solar panel maker By Andrew Curran China’s top solar panel manufacturer is pouring massive time, money and effort into solving the single biggest problem stymying the uptake…

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JinkoSolar Stumbles on Covid Challenges, But Longer-Term Future Remains Bright

Solar panel maker said its revenue fell sequentially from the fourth quarter to the first, but noted the war in Ukraine is speeding a global drive to reduce dependence on fossil fuels Key Takeaways: JinkoSolar blamed Covid disruptions for a 10% sequential decline in its first-quarter revenue, but added such challenges should be ‘short-term and manageable’ Company forecast it will sell 35 GW to 40 GW of capacity this year, implying it is taking market share from rivals By Doug Young Quite a few messages are emanating from two new…

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GCL-Poly Eyes More Debt Reduction With Potential STAR Market Listing

Once mired in debt, the polysilicon maker has rebounded on surging prices for its main products as it considers a secondary listing on the Chinese mainland Key Takeaways: GCL-Poly says it is studying the possibility of a secondary listing on the Chinese mainland Such a listing would most likely occur on the Nasdaq-style STAR Market, which has rewarded such secondary listings with high valuations By Doug Young First it was skyrocketing polysilicon prices that saved producer GCL-Poly Energy Holdings Ltd. (3800.HK) from collapsing under a mountain of debt. Now, the…

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Fresh From Surviving Short Seller Attack, ReneSola Sinks Again on Revenue Shortfall

Company’s third-quarter revenue was significantly lower than guidance given three months earlier, as it cited delays in several project sales Key takeaways: ReneSola reported third-quarter revenue of $15.5 million, lower than earlier guidance for $19 million to $21 million Stock had largely bounced back from short seller attack last week, but sank 10% in after-hours trading after the latest results were announced By Doug Young The fun never seems to end for solar farm developer ReneSola Ltd. (SOL.US). The company’s stock had largely recovered over the last two trading days…

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Signs of Bursting Polysilicon Bubble Cast Cloud Over Daqo New Energy

Domestic customer Longi aggressively cut its prices for the key material used to make solar panels for first time in a year-and-a-half as supply glut looms Shares of Daqo New Energy have dropped 40% over the last month amid signs that a two-year surge in polysilicon prices has peaked Company reported its revenue surged nearly fivefold year-on-year in the third quarter on quadrupling of polysilicon prices over that period By Doug Young Solar stocks are in the headlines as we approach this year’s winter solstice, with word that a long-building…

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JinkoSolar Dims, Then Shines, with U.S. Export Restrictions and Power Storage Tie-Up

Company’s shares tumbled last month on potential new restrictions from Washington, but were largely unmoved last week after announcement of major new alliance Key Takeaways: •      JinkoSolar’s shares have come under recent pressure from potential U.S. import restrictions on the company and some of its Chinese peers •      JinkoSolar recently formed a strategic alliance with battery giant CATL, but investors may be waiting for more details to determine the deal’s significance By Thomas Zhang Day traders looking to make a quick buck from shares of leading Chinese solar panel maker…

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