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Not a bad day imo 
Massive volume today. Looks like this one will have some extended legs...
CSUN up $1 in pre-mkt on news
bid: 10.46 - ask: 10.50 - vol: 127,773 - yesterday's close: 9:55
China Sunergy Announces Agreement with asola
NANJING, China, Dec. 14 /Xinhua-PRNewswire/ -- China Sunergy Co., Ltd. (Nasdaq: CSUN), a specialized solar cell manufacturer based in Nanjing, China, announced today that it has entered into a supply agreement (the 'Agreement') with asola Advanced and Automotive Solar System GmbH ('asola'), a reputable German module manufacturing company. Under the Agreement, China Sunergy will supply a total volume of 10.2MW of solar cells to asola during 2008.
Commenting on the Agreement, Allen Wang, CEO of China Sunergy said: 'Following the recent aleo & CSI sales agreements, I am pleased to announce that we have made further in-roads into the European solar market and diversified our customer base. I believe that our European customers have been extremely satisfied with the standard of our solar cell products and look forward to further expanding our European footprint.'
Commenting further, Reinhard Wecker, CEO and President of asola, added: 'I am very glad to have found China Sunergy who I view as a valuable partner for our 2008 expansion plans and beyond. As we look to develop our business in new markets such as the US, Italy and Spain we would like to double or even triple our purchase volumes from China Sunergy each year.'
Both parties will also explore the possibility of further cooperation between 2009 and 2012.
About China Sunergy Co., Ltd.:
China Sunergy Co., Ltd. (Nasdaq: CSUN) ('China Sunergy') is a leading manufacturer of solar cell products in China as measured by production capacity. China Sunergy manufactures solar cells from silicon wafers utilizing crystalline silicon solar cell technology to convert sunlight directly into electricity through a process known as the photovoltaic effect. China Sunergy sells solar cell products to Chinese and overseas module manufacturers and system integrators, who assemble solar cells into solar modules and solar power systems for use in various markets. For more information please visit http://www.chinasunergy.com .
PAT,
My WAG is 6 will hold as support. What do you see in the tea leaves?
China Sunergy Swings to 3Q Loss
Monday November 19, 8:20 am ET
China Sunergy Falls to 3rd-Qtr Loss in Tight, Expensive Market for Key Solar Product Feedstock
NEW YORK (AP) -- China Sunergy Co. said Monday it fell to a sharp loss in the third quarter as costs skyrocketed amid a tight, expensive market for polysilicon.
The solar-products company posted a loss of $4.4 million, or 11 cents per share, compared with a profit of $2.3 million, or 11 cents per share, a year earlier. The company had 39.6 million outstanding shares last quarter, up from 23.1 million.
Revenue rose 33.1 percent to $49 million from $36.8 million. However, cost of goods sold took up 97.9 percent of revenue, up from 82.9 percent of revenue a year earlier.
Analysts polled by Thomson Financial expected a loss of 7 cents per share on revenue of $63.4 million, on average.
"China Sunergy continued to face a tight polysilicon supply environment during the quarter, and despite proactive efforts to address these challenges, our results were still negatively impacted," Chairman Tingxiu Lu said in a statement.
Prices for polysilicon, the key feedstock for solar products, have risen significantly as demand has surged. Companies that rely on spot pricing face even higher costs than those that lock in fixed-price contracts.
Lu added that the company expects further pricing pressure over the short term. Over 90 percent of China Sunergy's silicon and wafer supplies in 2008 rely on spot pricing, Cowen and Co. analyst Rob Stone said in a note last month, after the company's chief executive said he was "cautious" about supplies and pricing through 2007.
CEO Allen Wang said in a statement that he was "largely not satisfied" with the company's third-quarter performance.
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China Sunergy Ramps Up Cell Production
Monday November 19, 8:43 am ET
China Sunergy Commercializes High-Efficiency Cells, but Efficiency Rate Falls Below Pilot Run
NEW YORK (AP) -- China Sunergy Co. has begun commercial production of its higher-efficiency solar cells, the company said Monday.
The "selective-emitter" cells yielded an average efficiency rate of 17.5 percent, down from 18.2 percent during pilot runs in early November.
"We will continue to drive further efficiency from these cells going into 2008 and will be adding an additional four production lines during the second half of the year, as we look at ways to expand our margins," Chief Executive Allen Wang said in a statement. Chief Technology Officer Jianhua Zhao added that he expects the company to boost efficiency back up to 18 percent as the company improves its equipment and technology.
Cells with higher efficiency rates can produce more energy from fewer panels.
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China Sunergy in Canadian Solar Deal
Monday November 19, 8:30 am ET
China Sunergy to Sell Solar Cells With 25 Megawatts of Capacity to Canadian Solar Next Year
NEW YORK (AP) -- China Sunergy Co. said Monday it will sell solar cells with 25 megawatts worth of annual generating capacity to Canadian Solar Inc. in 2008.
The companies did not disclose financial terms of the agreement.
A one-megawatt plant running continuously at full capacity can power 778 households each year, according to the U.S. Department of Energy. Solar technologies have lower capacity since their availability to generate power is constrained by the availability of the sun.
China Sunergy will supply 12 megawatts worth of cells in the first half of the year and 13 megawatts in the second half. About 24 percent of the contracts will be fixed-price with pricing for the rest determined on a quarterly basis.
China Sunergy shares fell 21 cents, or 2.6 percent, to $7.82 in premarket trading after closing at $8.03 on Friday. Canadian Solar shares gained 44 cents, or 2.5 percent, at $18.20 in the premarket after a $17.76 close on Friday.
OS: 39.56M
CSUN sitting on TL support. No price support until 7.25ish.
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China Sunergy Co., Ltd. (China Sunergy) is a manufacturer of solar cell products in the People's Republic of China. The Company conducts substantially all of its operations through CEEG (Nanjing) PV-Tech Co. Ltd., operating subsidiary. China Sunergy manufactures its solar cells from silicon wafers utilizing crystalline silicon solar cell technology to convert sunlight directly into electricity through a process known as the photovoltaic effect. As of May 17, 2007, the Company produced both mono-crystalline and multi-crystalline silicon solar cells. As of December 2006, the Company had six solar cell manufacturing lines with an aggregate production capacity of 192 megawatts per year, assuming the use of 156-millimeter, mono-crystalline silicon wafers. The Company sells its solar cell products to Chinese and overseas module manufacturers and system integrators, who assemble the solar cells into solar modules and solar power systems for use in various markets.
No. 123 Focheng West Road
Jiangning Eco. & Tech. Dev. Zn
Nanjing, JNG 211100
fischer.chen@chinasunergy.com
http://www.chinasunergy.com
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