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anyone still following TSL?.....the earnings are suppose to come out next week.......
Looking to get in on Monday
Big day today, anyone still in this one?
Closed right at the low of the day after solar being pumped hard for the last two days by media.
Just put TSL chart up tdy shows BID 43600 could this be a short? Once this is sold where is support? Could drop quick on short speculation.
You got to wonder that FSLR is up.
Anyone following TSL.
Might be a slight pullback on the earnings miss imo.
Trina Solar misses by $0.47, misses on revs; sees Q3 shipments higher QoQ; lowers FY12 shipment guidance (TSL) 4.84 : Reports Q2 (Jun) loss of $1.30 per share, $0.47 worse than the Capital IQ Consensus Estimate of ($0.83); revenues fell 40.3% year/year to $346.1 mln vs the $383.91 mln consensus. Solar module shipments were ~419 MW for Q2, following the Company's revised guidance of 390 MW to 420 MW, representing an increase of 10.2% sequentially . Gross margin was 8.4% in Q2, following the co's revised guidance of 7.0% to 9.0%, compared to 5.8% in the first quarter of 2012 and 17.0% in 2Q11.
For Q3, the Company expects to ship between 450 MW to 480 MW of PV modules. The co believes its overall gross margin, taking into account wafer and cell quantities outsourced from third party suppliers to meet demand in excess of its internal capacity and other needs, for the third quarter will be middle-single digits in percentage terms. Such guidance is based on the exchange rate between the Euro and U.S. dollar as of August 21, 2012.
TSL- Trina Solar Announces First Quarter 2012 Results
CHANGZHOU, China, May 23, 2012 /PRNewswire via COMTEX/ -- Trina Solar Limited TSL -8.73% ("Trina Solar" or the "Company"), a leading integrated manufacturer of solar photovoltaic products, today announced its financial results for the first quarter of 2012.
First Quarter 2012 Financial and Operating Highlights
Solar module shipments were approximately 380 MW for the first quarter of 2012, compared to the Company's previous guidance of between 400 MW to 430 MW, representing a decrease of 10.6% sequentially
Net revenues were $349.9 million, a decrease of 19.7% sequentially
Gross profit was $20.3 million, a decrease of 34.7%
Gross margin, including provisions for potential countervailing and anti-dumping duties totaling $26.2 million, was 5.8%, compared to the Company's previous guidance of low teens in percentage terms, compared to 7.1% in the fourth quarter of 2011
Gross margin, excluding provisions for potential countervailing and anti-dumping duties, was 13.3%
Loss from operations was $39.9 million, compared to operating loss of $62.9 million in the fourth quarter of 2011
Operating margin was negative 11.4%, compared to negative 14.4% in the fourth quarter of 2011
Net loss was $29.8 million, compared to net loss of $65.8 million in the fourth quarter of 2011
Earnings per fully diluted American Depositary Share ("ADS") were negative $0.42, compared to negative $0.93 in the fourth quarter of 2011
"While we maintained relatively strong shipments in a seasonally low first quarter, continued module price declines adversely impacted our profitability despite significant cost improvements." said Jifan Gao, Chairman and Chief Executive Officer of Trina Solar. "Additionally, our first quarter benefited from shipments to the United States in connection with qualified projects under the U.S.'s 1603 Federal Grant Program."
"Though we see further signs of industry consolidation, we are addressing the challenges of the current market environment by accelerating the delivery of innovative, technology-driven products and providing differentiated service offerings."
"We were pleased to announce our successful execution and early April delivery of 500 MW of our high-efficiency Honey technology-based module capacity, which currently offers module power of up to 265 watts for rooftop applications.
Our latest advancement in Honey technology, Honey Ultra, was recently confirmed by TUV Rheinland to have reached 284.7 watts peak, which is believed to be a world record for a standard multicrystalline module 1650mm by 992mm in size. This and other technological innovations will be enhanced by the May 2012 opening of our new State Key Research Laboratory, located within our PV Park.
Further, our new TrinaSmart solution, which offers system management and enhanced output capabilities down to the module level, is undergoing advanced customer testing in preparation for its upcoming launch in the third quarter."
In the first quarter, we also announced the establishment of our fourth and fifth Sales and Project Development Offices in Chengdu and Urumqi, China, which we believe will support the growing number of scale projects we have signed initial agreements to develop."
"Lower system costs continue to drive market opportunities throughout the Americas and our market development efforts have expanded in South America, the Caribbean Islands and in Canada, where we have established a legal operating entity in Ontario. Meanwhile, in Africa and the Middle East, we are working with a growing number of local developers and utilities to supply power purchase agreement-driven projects, which are increasingly independent of traditional feed-in-tariffs.
"Finally, in the area of corporate social responsibility, we are very pleased by our recent number one overall ranking in the Silicon Valley Toxics Coalition's 2012 Solar Scorecard. We believe this reflects our increasing effort and commitment toward ensuring our role in the PV sector remains positive for the environment, our workers, and the communities in which we conduct our business."
Recent Business Highlights
During the first quarter of 2012, the Company:
Announced the establishment of the Changzhou Trina International School. In addition to providing benefits in line with its corporate social responsibility commitments, the school is expected to offer Trina Solar a competitive advantage in attracting and retaining top management and R&D talent, and to complement the opening of our National PV Research Laboratory within our Changzhou Trina PV Park.
Announced that Mr. Junfeng Li, an independent director, resigned from the Company's board of directors, effective January 4, 2012. Mr. Li, who was appointed an independent director in November 2007, will focus on his recent appointment by the National Development and Reform Commission as the director of the National Research Center for Climate Strategies.
Announced the offering of a three-pronged service solution featuring in-house design services, new high performance 'Honey' modules and the Trinamount racking system. Trina Solar also announced the availability of its high performance 60-cell and up to 260 W 'Honey' module series to the North American market.
Announced that its multicrystalline modules manufactured with European-sourced silicon wafers had been certified by the independent Italian institute ICIM and fulfill GSE requirements for a 10% feed-in tariff premium in Italy.
Announced the establishment of its fourth and fifth sales and project development offices in Chengdu and Urumqi, China. The recent opening of these two strategically located sales and project development offices in western China coincides with the China National Development and Reform Commission's decision to develop photovoltaic plants in these regions.
Announced with actor, race car driver, and advocate Patrick Dempsey (as part of Dempsey Racing) a new philanthropic initiative to bring affordable clean energy to communities around the U.S. This will involve donating solar modules to local schools, health clinics, and nongovernmental organizations and building the infrastructure to sustain the investment, including a network of supportive local partners, local installers, and system component providers.
Announced that a preliminary determination had been made by the Department of Commerce, or DOC, in Washington, DC regarding the exportation of crystalline silicon photovoltaic cells and modules from China. The ruling establishes a preliminary rate of 4.73% for Trina Solar applicable to the importation of solar cells and modules or panels produced in China. Trina Solar, among other suppliers, was identified as an exporter of these products to the United States market. The DOC further ruled that the scope of the case covered exports to the United States of solar cells made in China, as well as modules manufactured outside of China from solar cells produced in China. The DOC clarified that the scope does not cover the exportation of modules manufactured in China from solar cells produced in a third country. Trina Solar is taking the steps necessary to comply with these administrative proceedings while abiding by its contractual commitments.
Announced the launch of a partner program for installers in German-speaking markets starting in April 2012. The program is called Trina Solar Partner Plus and offers a number of benefits to registered members including exclusive offers, technical service, active sales support and first hand information. Similar partner programs have been subsequently announced in the United Kingdom and Italy.
Subsequent Events
Subsequent to the first quarter of 2012, the Company:
Announced that it will partner with the Plant-for-the-Planet Children's Initiative to offset the carbon emissions of the Lotus F1 Team single seaters, the Formula 1 racing team that the Company sponsors. The Company intends to plant 9,000 trees a year for the next three years, or a total of 27,000 trees. The annual environmental benefit from the trees is estimated to be equivalent to the emissions from the team's Grand Prix track activity over the course of five full seasons of Formula 1.
Announced the intention of its subsidiary, Trina Solar (U.S.) Inc., to donate 10.5 kW of its solar modules to the American Lung Association's San Diego offices. This announcement was made as the Association released its annual State of the Air report on air quality.
Announced that it has entered into a supply agreement with Longyuan (Tibet) New Energy Co., Ltd. ("Longyuan (Tibet)") to supply a 2.1 MW off-grid solar system project in the Northern Tibetan region of Naqu.
Announced that a preliminary determination had been made by the DOC regarding the exportation of crystalline silicon photovoltaic cells and modules from China. A preliminary antidumping duty rate of 31.14% was calculated to apply to the importation into the United States of Trina Solar's solar cells and modules/panels produced in China. The DOC also preliminarily determined that the antidumping duty investigation does not apply to modules manufactured in China that incorporate solar cells produced in a third country. The DOC found "critical circumstances" and therefore the antidumping duty rate will apply retroactively to imports, beginning approximately 90 days prior to the preliminary determination. Trina Solar continues to actively defend its position in these administrative proceedings.
First Quarter 2012 Results
Net Revenues
Net revenues in the first quarter of 2012 were $349.9 million, a decrease of 19.7% sequentially and 36.5% year-over-year. Total shipments were 380.0 MW, compared to the Company's previous guidance of between 400 MW to 430 MW, compared to 424.9 MW in the fourth quarter of 2011 and 320.4 MW in the first quarter of 2011. The sequential decrease in revenues was primarily due to lower total shipments combined with a decrease in module average selling price, while the year-over-year decrease was due primarily to lower module average selling price.
Gross Profit and Margin
Gross profit in the first quarter of 2012 was $20.3 million, compared to $31.0 million in the fourth quarter of 2011 and $151.3 million in the first quarter of 2011. Gross profit during the first quarter of 2012 includes provisions of $6.9 million and $19.3 million for potential countervailing and anti-dumping duties, respectively, relating to the import of solar modules into the United States during the first quarter.
Gross margin was 5.8% in the first quarter of 2012, compared to the Company's previous guidance of low teens in percentage terms, compared to 7.1% in the fourth quarter of 2011 and 27.5% in the first quarter of 2011. The sequential decrease in gross margin was due primarily to anti-dumping and countervailing duty provisions offsetting reduced costs, while the year-on-year decrease in gross margin was due primarily to module average selling price declines in excess of reduced costs. The Company's gross profit and gross margin, excluding the provisions for potential countervailing and anti-dumping duties, were $46.5 million and 13.3%, respectively.
Operating Expense, Income and Margin
Operating expenses in the first quarter of 2012 were $60.1 million, a decrease of 36.0% sequentially and 9.9% year-over-year. The Company's operating expenses represented 17.2% of its first quarter net revenues, a decrease from 21.6% in the fourth quarter of 2011 and an increase from 12.1% in the first quarter of 2011. The sequential percentage decrease was primarily due to a reduction in allowances for doubtful receivables in the first quarter of 2012 while the year-to-year percentage increase was primarily due to the decrease in net revenues. Operating expenses in the first quarter of 2012 included $2.0 million in share-based compensation expenses, compared to $2.0 million in the fourth quarter of 2012 and $1.6 million in the first quarter of 2011.
As a result of the foregoing, loss from operations in the first quarter of 2012 was $39.9 million, compared to operating loss of $62.9 million in the fourth quarter of 2011 and operating income of $84.5 million in the first quarter of 2011. Operating margin was negative 11.4% in the first quarter of 2012, compared to negative 14.4% in the fourth quarter of 2011 and 15.3% in the first quarter of 2011.
Net Interest Expense
Net interest expense in the first quarter of 2012 was $8.8 million, compared to $8.3 million in the fourth quarter of 2011 and $6.7 million in the first quarter of 2011. The sequential increase in net interest expense was primarily due to an increase in average bank borrowings, partially offset by an increase in interest income in the first quarter of 2012.
Foreign Currency Exchange
The Company had a foreign currency exchange gain of $9.0 million in the first quarter of 2012, which included changes in fair value of derivative instruments, compared to a net loss of $4.3 million in the fourth quarter of 2011 and a net loss of $24.1 million in the first quarter of 2011. This net gain was primarily due to the appreciation of the Euro against the U.S. dollar during the first quarter of 2012, augmented by gains from foreign currency forward contracts used by the Company to hedge its foreign currency risk exposure.
The Company continued to hedge for foreign exchange rate volatility during the first quarter of 2012 using forward contracts involving the Euro, Renminbi, and U.S. dollar currencies.
Income Tax Benefit and Expense
Income tax benefit was $8.8 million in the first quarter of 2012, compared to income tax benefit of $5.1 million in the fourth quarter of 2011 and income tax expense of $12.3 million in the first quarter of 2011. The income tax benefit in the first quarter of 2012 was primarily the result of a deferred tax benefit recognized in connection with the net operating losses incurred in the quarter.
Net Income and EPS
As a result of the foregoing, net loss was $29.8 million in the first quarter of 2012, an decrease from net loss of $65.8 million in the fourth quarter of 2011 and a decrease from net income of $47.7 million in the first quarter of 2011.
Net margin was negative 8.5% in the first quarter of 2012, compared to negative 15.1% in the fourth quarter of 2011 and 8.7% in the first quarter of 2011.
Earnings per fully diluted ADS were negative $0.42 in the first quarter of 2012. The effects of the first quarter foreign currency exchange net gain were approximately $0.13 per fully diluted ADS.
Financial Condition
As of March 31, 2012, the Company had $748.3 million in cash and cash equivalents and restricted cash, and a working capital balance of $685.0 million. Total bank borrowings were $1,020.4 million, of which $518.8 million were long-term borrowings. The Company increased its short-term borrowings by $112.1 million to approximately $501.6 million as of March 31, 2012. During the first quarter of 2012, the Company repurchased $9.8 million of its senior convertible notes due July 2013, which resulted in a gain of $1.2 million.
Shareholders' equity was $1.11 billion as of March 31, 2012, a decrease from $1.15 billion at the end of the fourth quarter of 2011.
Second Quarter and Fiscal Year 2012 Guidance
For the second quarter of 2012, the Company expects to ship between 500 MW to 520 MW of PV modules.
The Company believes its overall gross margin for the second quarter, including the impact of provisions for potential countervailing and anti-dumping duties, will be approximately 10 percent. This figure takes into account wafer and cell requirements outsourced to third party suppliers to meet demand in excess of its internal capacity. Such guidance is based on the exchange rate between the Euro and U.S. dollar as of May 23, 2012.
For the full year 2012, the Company expects total PV module shipments between 2.0 to 2.1 GW, representing an increase of 32.5% to 39.1%, respectively, from 2011.
Operations and Business Outlook
Non-Silicon Cost
In the first quarter of 2012, the Company achieved its previously announced 2012 target of below $0.60 per watt for non-silicon manufacturing costs for core raw materials in module production. The non-silicon manufacturing cost in the first quarter of 2012 was $0.58, compared to $0.64 per watt in the fourth quarter of 2011. The sequential reductions in non-silicon manufacturing costs were primarily due to improved supply chain costs, as well as from increases in the Company's module efficiencies and improvements in the manufacturing process.
Given that the Company has already achieved its previous 2012 target, the Company now expects to reach a non-silicon manufacturing cost of below $0.50 per watt by the end of 2012 through adopting innovative technological and manufacturing process improvements, including proprietary processes for ingot, wafer, cell and module manufacturing, higher cell conversion efficiencies, and further supply chain and logistics management initiatives currently under testing or development.
Silicon Procurement
Through its diversified range of short, medium and long-term supply agreements, the Company will continue to maintain competitive silicon costs relative to the current market price.
As a result of renegotiation of a significant portion of its long-term silicon supply agreements, the Company continues to expect a sequential reduction in its manufacturing costs in the second quarter of 2012.
2012 Manufacturing Capacity
As of March 31, 2012, the Company's annualized in-house ingot and wafer production capacity was approximately 1.2 GW.
To produce its new high efficiency multicrystalline-based 'Honey' technology-based module, the Company has increased its in-house PV cell and module production capacity by approximately 500 MW, to a total of 2.4 GW in April, 2012.
Technology Development
The Company has achieved what is believed to be a new world record for its laboratory-tested multicrystalline module power output, with a 156x156mm 60 cell module reaching 284.7 watts peak. The results have been confirmed by TUV Rheinland. The record was set using the Company's latest generation 'Honey' technology platform. The Company announced a previous test result of 274.3 watts peak in September 2011.
Project Development
The Company has entered into framework agreements with local municipal governments in China to develop multi-year power plant projects commencing in late 2012 and 2013. Commencement of the projects is conditional upon a number of factors, some of which are beyond the Company's control, such as the availability of network transmission and interconnection facilities, project rights assignment, and investments in land or local manufacturing facilities.
Conference Call
The Company will host a conference call at 8:00 a.m. ET on May 23, 2012, to discuss the results for the quarter ended March 31, 2012. Joining Jifan Gao, Chairman and CEO of Trina Solar, will be Terry Wang, Chief Financial Officer, Mark Kingsley, Chief Commercial Officer, Gary Yu, Senior Vice President, Operations, and Thomas Young, Vice President, Investor Relations. Supplemental information will be made available on the Investors Section of the Trina Solar's website at http://www.trinasolar.com . To participate in the conference call, please dial the following number five to ten minutes prior to the scheduled conference call time: 1 (800) 884-2382. International callers should dial +1 (660) 422-4933. The conference ID for the call is 8075-7277.
If you are unable to participate in the call at this time, a replay will be available on May 23 at 6:00 p.m. ET, through May 30, at 11:59 p.m. ET. To access the replay, dial 1 (855) 859-2056, international callers should dial +1 (404) 537-3406, and enter the conference ID 8075-7277.
This conference call will be broadcast live over the Internet and can be accessed by all interested parties on Trina Solar's website at http://www.trinasolar.com . To listen to the live webcast, please go to Trina Solar's website at least fifteen minutes prior to the start of the call to register, download, and install any necessary audio software. For those unable to participate during the live broadcast, a replay will be available shortly after the call on Trina Solar's website for 90 days.
Stock should be down today but up 3% oh, that's right I don't have any shares now. But, a decent company like Cisco now there is where I got cut. Funny how guidance works, right?
Trina reacts to DOC tariff
http://www.esolarenergynews.com/2012/05/trina-solar-statement-on-preliminary.html
Stocks is down 5% today. Doesn't look good for Chinese solar.
I do not believe in hell but I sure hope
somehow those shorts will get burned:
http://www.dataexplorers.com/news-and-analysis/most-shorted-stocks-ahead-earnings-6
r
TSL- Solar taking a beating the past month:(
~ Monday! $TSL ~ Earnings posted, pending or coming soon! In Charts and Links Below!
~ $TSL ~ Earnings expected on Monday *
Want more like this? Search Keyword: MACMONEY >>> http://tinyurl.com/MACMONEY <<<
One or more of many earnings sites has alerted this security has or will be posting earnings on or around the day of this message.
http://stockcharts.com/h-sc/ui?s=TSL&p=D&b=3&g=0&id=p88783918276&a=237480049
http://stockcharts.com/h-sc/ui?s=TSL&p=W&b=3&g=0&id=p54550695994
~ Google Finance: http://www.google.com/finance?q=TSL
~ Google Fin Options: hhttp://www.google.com/finance/option_chain?q=TSL#
~ Yahoo! Finance ~ Stats: http://finance.yahoo.com/q/ks?s=TSL+Key+Statistics
~ Yahoo! Finance ~ Profile: http://finance.yahoo.com/q/pr?s=TSL
Finviz: http://finviz.com/quote.ashx?t=TSL
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<<<<<< http://www.earningswhispers.com/stocks.asp?symbol=TSL >>>>>>
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*If the earnings date is in error please ignore error. I do my best.
TSL, STP both Solar stocks on fire! Great news for the solar industry. http://twitter.com/chinasolar
TSL Pop in solar tomorrow - Mark my words
http://twitter.com/chinasolar
Trina Solar Announces Conference Call to Discuss Fourth Quarter and Fiscal Year 2011 Results
PR Newswire
CHANGZHOU, China, Feb. 8, 2012
CHANGZHOU, China, Feb. 8, 2012 /PRNewswire-Asia-FirstCall/ -- Trina Solar Limited (NYSE: TSL) ("Trina Solar" or the "Company"), a leading integrated manufacturer of solar photovoltaic products from the production of ingots, wafers and cells to the assembly of PV modules, announced today it will host a conference call at 8:00 a.m. ET on Thursday, February 23, 2012, to discuss results for the fourth quarter and fiscal year 2011.
Joining Jifan Gao, Chairman and CEO of Trina Solar on the call will be Terry Wang, Chief Financial Officer, Mark Kingsley, Chief Commercial Officer, Gary Yu, Senior Vice President, Operations, and Thomas Young, Vice President, Investor Relations. The Company plans to distribute its earnings announcement before the call.
To participate in the conference call, please dial the following number five to ten minutes prior to the scheduled conference call time: 1(800)884-2382. International callers should dial +1(660)422-4933. The conference ID for the call is 4686-9378.
If you are unable to participate in the call at this time, a replay will be available on February 23 at 10.00 a.m. ET, through March 1 at 11:59 p.m. ET. To access the replay, dial 1(855)859-2056, international callers should dial +1(404)537-3406, and enter the conference ID 4686-9378.
This conference call will be broadcast live over the Internet and can be accessed by all interested parties on Trina Solar's website at http://www.trinasolar.com. To listen to the live webcast, please go to Trina Solar's website at least fifteen minutes prior to the start of the call to register, download, and install any necessary audio software. For those unable to participate during the live broadcast, a replay will be available shortly after the call on Trina Solar's website for 90 days.
About Trina Solar Limited
Trina Solar Limited (NYSE: TSL) is a leading manufacturer of high quality modules and has a long history as a solar PV pioneer since it was founded in 1997 as a system installation company. Trina Solar is one of the few PV manufacturers that have developed a vertically integrated business model from the production of monocrystalline and multicrystalline silicon ingots, wafers and cells to the assembly of high quality modules. Trina Solar's products provide reliable and environmentally-friendly electric power for a growing variety of end-user applications worldwide. For further information, please visit Trina Solar's website at http://www.trinasolar.com.
Yeah i know, old news, just trying to catch up with my boards.lol
Critical Alerts For MGM Mirage, Applied Materials, F5 Networks, Safeway, and Trina Solar Released By Seven Summits Research
1 Month : January 2012 to February 2012
Click Here for more Trina Solar Limited Sponsored Adr (Cayman Islands) Charts.
Seven Summits Research issues critical PriceWatch Alerts for MGM, AMAT, FFIV, SWY, and TSL.
To see what our analysts have discovered about these stocks read the Seven Summits Strategic Investments' PriceWatch Alerts at http://www.iotogo.com/s/011712B (Note: You may have to copy this link into your browser then press the [ENTER] key.)
Today's PriceWatch Alerts cover the following stocks: MGM Mirage (NYSE: MGM), Applied Materials (Nasdaq: AMAT), F5 Networks (Nasdaq: FFIV), Safeway (NYSE: SWY), and Trina Solar (NYSE: TSL).
In today's unsure markets these brief PriceWatch Alerts contain concise, detailed strategies for each covered stock and include position protection tactics designed to potentially defend investors from unexpected market shifts. While other market reports only provide stock news and opinion, we offer strategies that position investments against uncertainty and increase chances of making a profit, even if a stock goes down.
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For essential information on stocks poised to move go to: http://www.iotogo.com/s/011712B for Seven Summits Strategic Investments' PriceWatch Alerts.
Seven Summits Investment Research is an independent investment research group, which focuses on the U.S. equities and options markets. Our analytical tools, screening techniques, rigorous research methods and committed staff provide solid information to help our clients make the best possible investment decisions. For more information go to www.SevenSummitsInvestmentResearch.com. CRD# 137114
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SOURCE Seven Summits Investment Research
TSL
Excellent !!!!!!!!!!!!!!!!!!
Trina Solar Announces Complete Large Rooftop Solar Solution for North American Customers
CHANGZHOU, China, Jan. 11, 2012
CHANGZHOU, China, Jan. 11, 2012 /PRNewswire/ -- Trina Solar Limited (TSL) ("Trina Solar" or the "Company"), a leading vertically-integrated manufacturer of solar photovoltaic (PV) products, announced the offering of a three-pronged service solution featuring complimentary design services, newly available high performance 'Honey' modules and the rapid install Trinamount racking system.
Starting today, installers, developers and other customers using Trina Solar modules can benefit from a complimentary design service that delivers preliminary system layouts and performance estimates for large rooftop installations. Upon submitting a short site survey form, Trina Solar will craft custom-tailored PV installation plans.
This new design service comes online as Trina Solar also announces the availability of its high performance 60-cell, up to 260 Watt Honey module series for North America. The new Honey cell is produced using cutting edge process tools supplied by North American vendors. The cells feature a number of advancements including greater surface area and more efficient capture of sunlight, resulting in more power per area. Laboratory tests, confirmed by TUV Rheinland in September 2011, demonstrated that a 60 Honey cell module set a world record for multicrystalline module power by reaching a 274 Watt peak.
Compared to industry standard 230 Watt modules, a typical flat rooftop system using comparably sized 260 Wp Honey modules could produce over 18 percent more electricity per year from the same roof area. By combining high performing Honey modules with the fast mounting Trinamount system, customers can install Trinamount Honey systems up to 4.5 times faster while shaving installation costs by up to 10 percent.
"Honey panels, plus Trinamount, plus design services move us toward a 'total solution' to our partners and end users," said Mark Kingsley, Chief Commercial Officer of Trina Solar. "Trina's ongoing commitment to delivering better panels and more robust services to our customers keeps us ahead of the curve in the dynamic global PV market."
Honey cell technology is the latest breakthrough in Trina Solar's commitment to better service delivery. In June 2011, Trina Solar broke ground with an industry-leading 25-year linear power warranty, a 10-year product warranty and a guaranteed positive power tolerance of 0/+3%. Earlier last year, Trina Solar unveiled its Trinamount solution, a racking and grounding solution that help solar installers increase profits through faster and easier installations.
These improvements continue to add to Trina Solar's recognized field performance and environmental leadership. Since 2008, Trina Solar modules have consistently ranked among the best performing modules by third-party validators including TUV Rheinland, DKA Australia and Photon. Trina Solar's sustainable manufacturing processes and carbon reduction programs are ISO certified and have been recognized as an industry model. These sustainable processes have resulted in a nearly 60 percent reduction in energy and water usage per megawatt produced.
To initiate your next Honey Trinamount project, email design@trinasolar.com or contact your local Trina Solar representative to get more information.
About Trina Solar Limited
Trina Solar Limited (NYSE: TSL) is a leading manufacturer of high quality modules and has a long history as a solar PV pioneer since it was founded in 1997 as a system installation company. Trina Solar is one of the few PV manufacturers that have developed a vertically integrated business model from the production of monocrystalline and multicrystalline ingots, wafers and cells to the assembly of high quality modules. Trina Solar's products provide reliable and environmentally-friendly electric power for a growing variety of end-user applications worldwide. For further information, please visit Trina Solar's website at http://www.trinasolar.com.
Safe Harbor Statement
This announcement contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact in this announcement are forward-looking statements, including but not limited to, the Company's ability to raise additional capital to finance the Company's activities; the effectiveness, profitability and marketability of its products; the future trading of the securities of the Company; the Company's ability to operate as a public company; the period of time for which the Company's current liquidity will enable the Company to fund its operations; general economic and business conditions; demand in various markets for solar products; the volatility of the Company's operating results and financial condition; the Company's ability to attract or retain qualified senior management personnel and research and development staff; and other risks detailed in the Company's filings with the Securities and Exchange Commission. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about the Company and the industry in which the Company operates. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or to changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results.
SOURCE Trina Solar Limited
Trina Solar Announces Changes to Board of Directors
Trina Solar Limited (TSL) ("Trina Solar" or the "Company"), a leading integrated manufacturer of solar photovoltaic (PV) products from the production of ingots, wafers and cells to the assembly of PV modules, today announced that Mr. Junfeng Li, an independent director, has resigned from the Company's board of directors effective January 4, 2012.
Mr. Junfeng Li, who was appointed an independent director in November 2007, will focus on his recent appointment by the National Development and Reform Commission as Director of the National Research Center for Climate Strategies.
"On behalf of the Company and board, we would like to thank Mr. Li for his valuable contributions and dedicated service during the last four years," said Jifan Gao, Chairman and CEO of Trina Solar. "Mr. Li has strongly supported the Company and we wish him every success in the future."
"It has been my pleasure and honor to serve as Trina Solar's independent director during the last four years, during which time the company has achieved increasing levels of success and recognition," added Mr. Junfeng Li. "I wish to thank both the company's executive management team and board of directors for this rewarding opportunity."
About Trina Solar Limited
Trina Solar Limited (NYSE: TSL) is a leading manufacturer of high quality modules and has a long history as a solar PV pioneer since it was founded in 1997 as a system installation company. Trina Solar is one of the few PV manufacturers that have developed a vertically integrated business model from the production of monocrystalline and multicrystalline silicon ingots, wafers and cells to the assembly of high quality modules. Trina Solar's products provide reliable and environmentally-friendly electric power for a growing variety of end-user applications worldwide. For further information, please visit Trina Solar's website at http://www.trinasolar.com.
Safe Harbor Statement
This announcement contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact in this announcement are forward-looking statements, including but not limited to, the Company's ability to raise additional capital to finance the Company's activities; the effectiveness, profitability and marketability of its products; the future trading of the securities of the Company; the Company's ability to operate as a public company; the period of time for which the Company's current liquidity will enable the Company to fund its operations; general economic and business conditions; demand in various markets for solar products; the volatility of the Company's operating results and financial condition; the Company's ability to attract or retain qualified senior management personnel and research and development staff; and other risks detailed in the Company's filings with the Securities and Exchange Commission. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about the Company and the industry in which the Company operates. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or to changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results.
For further information, please contact:
Trina Solar Limited
Brunswick Group
Terry Wang, CFO
Caroline Jinqing Cai
Phone: + 86.519-8548-2009 (Changzhou)
Phone: + (86) 10-6566-2256
Thomas Young, Vice President, Investor Relations
Michael Fuchs
Phone: + 86.138.6118.3779 (Global)
Phone: + (86) 10-6566-2256
Email: ir@trinasolar.com
Email: trina@brunswickgroup.com
SOURCE Trina Solar Limited
Xunlight Supplies 208 KW of Solar Modules for Two European Rooftop Projects
Xunlight Corporation ("Xunlight"), an industry leader in the design, development and manufacture of flexible and lightweight thin-film silicon solar modules, announced today that it has sold 208 KW of its powerful solar panels through European channel partners for two rooftop installations in Europe.
Xunlight's modules will be installed on the rooftops of facilities located in Pezinok, Slovakia and Spilimbergo, Italy. Xunlight has supplied 360 of its lightweight, flexible XR36 291W photovoltaic modules for each of these 104 KW installations. These modules were assembled in Xunlight's Kunshan, China facility using triple-junction thin film solar cells manufactured in the United States in its 25 MW roll-to-roll solar cell production line located in Toledo, Ohio.
"We are pleased that Xunlight modules have been selected for these projects," said Dr. Xunming Deng, Xunlight President and CEO. "We are seeing increasing demand for our products. Since Xunlight modules can be easily integrated into roofing systems and classified as innovative, projects utilizing Xunlight modules will qualify for the highest available subsidies intended to incentivize building-integrated photovoltaics in many markets."
Xunlight's lightweight photovoltaic modules, just 2.6 kilograms per square meter, are ideal for installation on commercial and industrial rooftops, especially those with low load bearing capabilities. They can be quickly adhered directly to roofing membranes without penetration. They require no mounting frames and produce virtually no additional wind loads.
Xunlight recently completed a 220 KW demonstration project utilizing its flexible solar panels in partnership with Trina Solar Limited (NYSE: TSL).
About Xunlight Corporation
Xunlight Corporation develops, manufactures, and markets lightweight and flexible photovoltaic modules that convert sunlight into electricity. Xunlight is currently supplying its photovoltaic modules to a broad range of customers in Europe, North America, and Asia and is one of the few solar manufacturers in the world that supply flexible, lightweight and durable PV products. These modules, produced in Xunlight's 25 MW roll-to-roll production line, are certified to UL 1703 and IEC 61646/EN 61730 standards. The company is headquartered in Toledo, Ohio and has a module assembly facility in Kunshan, China. For additional information, visit http://www.xunlight.com/.
For more information, please contact:
Aarohi Vijh, Ph.D.
Vice President, Product Development
Xunlight Corporation
Ph: +1-419-469-8650
Email Contact
or
John Buckey
Vice President of Business Development
Xunlight Corporation
Ph: +1-419-469-8677
Email Contact
Xunlight Corporation
3145 Nebraska Ave
Toledo, Ohio 43607
Ph: (419) 469-8600
Fax: (419) 469-8601
www.xunlight.com
US Solar Firms Fight Back Against China's Dominance
Chinese Solar firms have had a difficult time maintaining margins this year as a glut of competitors and dropping demand has forced manufacturers to slash prices to maintain market share. Meanwhile U.S. solar companies continue to protest what they consider unfair trade practices in China's solar energy sector. The BedfordReport examines the outlook for companies in the Solar Industry and provides investment research on First Solar, Inc. (NASDAQ: FSLR) and Trina Solar Limited (NYSE: TSL). Access to the full company reports can be found at:
www.bedfordreport.com/FSLR
www.bedfordreport.com/TSL
A recent report from Bloomberg says that losses for China's largest solar manufacturers may continue into the New Year "as declining shipments prompt them to slash prices and liquidate inventory." Hari Chandra Polavarapu, an analyst at Auriga USA in New York, says there are too many Chinese solar companies, forcing firms to cut prices. "China's strongest manufacturers are sacrificing profitability because the weakest players still exist," Polavarapu finds.
The Bedford Report releases stock reports on the solar industry so investors can stay ahead of the crowd and make the best investment decisions to maximize their returns. Take a few minutes to register with us free at www.bedfordreport.com and get exclusive access to our numerous analyst reports and industry newsletters.
Earlier this month a U.S. trade panel approved an investigation into charges of unfair Chinese trade practices in the solar energy sector, setting the stage for possible steep U.S. duties. The approval allows The Commerce Department to continue an investigation into whether the Chinese government provides illegal subsidies for its solar energy sector and whether Chinese companies are selling solar cells and panels in the United States at unfairly low prices, Reuters reports.
China's Commerce Ministry said in a statement on its website that these protectionism measures would hurt bilateral trade and jeopardize mutual cooperation on new energy issues. "China is deeply concerned with the decision, which does not tally with facts and highlights the United States' strong tendency for trade protectionism," the ministry said.
The Bedford Report provides Market Research focused on equities that offer growth opportunities, value, and strong potential return. We strive to provide the most up-to-date market activities. We constantly create research reports and newsletters for our members. The Bedford Report has not been compensated by any of the above-mentioned companies. We act as an independent research portal and are aware that all investment entails inherent risks. Please view the full disclaimer at: http://www.bedfordreport.com/disclaimer
Contact:
The Bedford Report
Email Contact
Buffett gives solar industry a boost:
http://editorial.equities.com/utilities/warren-buffett-buys-solar-plant/
Xunlight Partners With Trina Solar for a 220 KW Project
Xunlight Corporation ("Xunlight"), an industry leader in the design, development and manufacture of flexible and lightweight thin-film silicon solar modules, announced today that it has completed a 220 KW demonstration project utilizing its flexible solar panels, in partnership with Trina Solar Limited (NYSE: TSL) ("Trina Solar"), a leading vertically integrated manufacturer of solar photovoltaic (PV) products.
In this project, Xunlight, through its subsidiary in Kunshan, China, supplied Trina Solar with approximately 220 KW of the Company's lightweight and flexible thin film silicon solar modules. These modules were assembled in Xunlight's Kunshan facility using triple-junction thin film solar cells manufactured in its 25 MW roll-to-roll solar cell production line in Toledo, Ohio. A total of 750 Xunlight XR36 291 Watt modules were supplied to Trina Solar's System Engineering Service Team to apply on carports and bicycle shelters under the "Golden Sun" demonstration project. This is Xunlight's first major project in China.
"Working with a Tier 1 solar company of Trina Solar's stature in our very first project in China has been a rewarding experience," said Dr. Xunming Deng, Xunlight President and CEO. "Our team is very impressed with Trina Solar's quality control system."
"Flexible solar module has its advantages in the application of specific light structure environment. As part of the open testing platform of the China State Key Lab for PV Science & Technology at Trina Solar, we are applying and testing various types of solar technology. The cooperation with Xunlight is mutually beneficial," said Dr. Haiyan Sun, Head of Asia Pacific, Middle East, and Africa Region with Trina Solar.
About Xunlight Corporation
Xunlight Corporation develops, manufactures, and markets lightweight and flexible photovoltaic modules that convert sunlight into electricity. Xunlight is currently supplying its PV modules to a broad range of customers in Europe, North America, and Asia and is one of the few PV manufacturers in the world that supply flexible, lightweight and durable PV products. These modules, produced in Xunlight's 25MW roll-to-roll production line, are certified to UL 1703 and IEC 61646/EN 61730 standards. The company is headquartered in Toledo, Ohio and has a production facility in Kunshan, China. For additional information, visit http://www.xunlight.com/.
About Trina Solar Limited
Trina Solar Limited (NYSE: TSL) is a leading manufacturer of high quality modules and has a long history as a solar PV pioneer since it was founded in 1997 as a system installation company. Trina Solar is one of the few PV manufacturers that have developed a vertically integrated business model from the production of monocrystalline and multicrystalline ingots, wafers and cells to the assembly of high quality modules. Trina Solar's products provide reliable and environmentally-friendly electric power for a growing variety of end-user applications worldwide. For further information, please visit Trina Solar's website at http://www.trinasolar.com/.
Image Available: http://www2.marketwire.com/mw/frame_mw?attachid=1821571
For more information, please contact:
Aarohi Vijh, Ph.D.
Vice President, Product Development
Xunlight Corporation
Ph: +1-419-469-8650
Email Contact
or
Zel (Zuoyi) Liu
Vice President, Asia Business Development
Xunlight Corporation
Ph: +86 138 1783 6307
Email Contact
Is it just me or is this not awesome news for American manufacturers? Can't compete with dumping.
International Trade Commission to Investigate Chinese Solar Makers
http://editorial.equities.com/industrials/international-trade-commission-investigate-chinese-solar-makers/
TSL SHARE STRUCTURE
Average volume 2.61m
Shares outstanding 79.49m
Free float 78.70m
P/E (TTM) 3.14
Market cap 563.58m USD
EPS (TTM) 2.26 USD
Alt-Energy Stock Outlook – November 2011 - Industry Outlook
Historically, the growth outlook of alternative energy companies has been inversely related to the prices of petroleum products and directly related to the fortunes of the economy. In the near term, however, the fortunes of the alternative energy players are undergoing a radical transformation.
On one hand, the continuing European debt crisis has led to the U.S. Federal Reserve reducing its growth forecast, raised projections for unemployment and leaning on buying more mortgage debt to tide over a troubled economy.
The U.S. economy was not able to completely shake off the negative momentum that plagued it in 2010. In the first nine months of 2011, the economy was affected by unseasonal and harsh weather, heightened uncertainty spawned by the crisis in the Eurozone, a drop in federal defense purchases, and the supply-chain disruptions associated with the Japan quake and ensuing crisis.
As a result the U.S. jobless rate rose to 9.0% in October 2011. Going forward, Zacks expects unemployment rate for fiscal 2012 and 2013 at 8.9% and 8.4%, respectively. U.S. Federal Reserve also raised its projections for unemployment. This has led to implementation of Operation Twist (sterilized large-scale asset purchases) by Fed to lower rates.
As the Fed sells shorter-dated assets and uses the proceeds to buy longer-dated securities, effectively removing duration from the market, longer-dated yields will be kept lower than would otherwise be the case. As a result, we now expect the 10-year Treasury note yield to hover around 2.8% in fiscal 2012, reflecting both persistent flight-to-quality effects and the impact of Operation Twist.
We expect the Euro-area crisis to continue to cast a spell over financial markets. The heightened uncertainty may contribute to sharply lower equity prices and wider risk spreads. This we invariably feel will lead to slow consumer spending and the general pull-back from risk may yet manifest itself in hiring and capital expenditure decisions.
This would not be a welcome environment for alternative energy players who in recent times have been reeling under weak demand owing to the supply glut. Faced with struggling economies, regulators in Europe and U.S. may opt to be tight-fisted over spending on alternative energy projects.
On the other hand, steadily rising oil prices and China’s new solar power tariff regime is a clear pointer for investors to look beyond the near-term earnings horizon for healthier performance. The U.S. Energy Department in its monthly Short-Term Energy Outlook for November increased its crude-oil price forecast for 2011 by 1.6%. The agency now expects that the West Texas Intermediate oil will average $93.80 a barrel in fiscal 2011, up from the October projection of $92.36.
As a result, we believe that the oil price upside will only boost the emerging positive alternative energy narrative.
According to the European Photovoltaic Industry Association (EPIA), the world industry association for solar photovoltaic electricity market, based on a study looking at five major solar markets -- Germany, Italy, France, Spain and Britain -- power generated from solar modules in Europe could be competitive in relation to conventional forms of energy by the end of the current decade.
A number of traditional utility companies have growing alternative energy operations. But the fortunes of some of these companies, particularly those with significant fossil-fuel exposures, are less attractive than their peers.
In the utilities space, we are less optimistic about the prospects of Atlantic Power Corporation (AT), DPL Inc. (DPL), Dynegy Inc. (DYN) and UniSource Energy Corporation (UNS).
Conversely, favorable rate cases and stable sales growth in the respective service areas make companies like CPFL Energia S.A. (CPL), The AES Corporation (AES), Cleco Corporation (CNL) and Duke Energy Corporation (DUK) attractive.
Like everyone else, the Alternative Energy industry was hit hard by the Great Recession and essentially remains in recovery mode. And while the economy is in recovery mode, so is our hope for the industry.
A major growth area in this space is Solar Energy. The U.S. has a lot of catching up to do, despite enormous potential, to get anywhere close to the global leaders. According to the Solar Energy Industries Association (SEIA), the U.S. trade association of approximately 1,000 companies in the solar energy industry, in fiscal 2010 the U.S. solar energy industry grew 67% year over year (compared to overall GDP growth of just 3%) with installations valued at $6 billion. That trend continues in 2011 with new photovoltaic (PV) installations in 2Q11 up 69% year over year.
The agency also strongly believes that solar is already the fastest growing energy sector in the U.S. and by 2014 it will likely be the largest source of new electric capacity in U.S.
According to the European Photovoltaic Industry Association (EPIA), the world industry association for solar photovoltaic electricity market, the cumulative global installed PV capacity stood at almost 16.5 GW at the end of 2010, compared to only 9 GW at the end of 2007. Per EPIA estimates in 2010, Germany ranked first followed by Italy and Spain in terms of cumulative installed solar electric power capacity, as of year-end 2010.
Here we take a look at the Solar Energy space and attempt to identify this nascent industry’s strengths and weaknesses.
OPPORTUNITIES
Environmental advantage: Solar power is one of the most benign electricity resources. Solar cells generate electricity without air or water emissions, noise, vibration, habitat impact or waste generation. Over time, rapid population growth, depletion of non-renewable conventional sources, escalating pollution levels will help shape a much more pronounced global focus on renewable projects.
The long-term bullishness is shared even by oil goliaths like Royal Dutch Shell plc (RDS.A) and BP plc (BP) who expect that by fiscal 2050, one-third of the global energy needs will come from renewable sources.
Fuel risk advantage: Unlike fossil and nuclear fuels, solar energy has no risk of fuel price volatility or delivery risk. Although there is variability in the amount and timing of sunlight in the day, season and year, a properly sized and configured system can be designed to insure high reliability while providing a long-term, fixed-price electricity supply.
In light of the Fukushima Daichi episode in Japan, the global focus has tilted towards solar in a big way. German plans to phase out nuclear power plants by 2022 will definitely boost solar fortunes in one of its largest global markets.
Location advantage: Unlike other renewable resources such as hydroelectricity and wind power, solar power is generally located at a customer’s site due to the universal availability of sunlight. As a result, solar power limits the expense and losses associated with the transmission and distribution from large-scale electric plants to the end-users. For most residential consumers seeking an environment-friendly power alternative, solar power is currently the only viable choice.
Environmental legislations: Alternative energy companies are increasingly benefiting from new legislation in the U.S. stipulating installation of renewable sources of electricity generation as mandated by Renewal Energy Standards (RES). At the federal level, Congress has extended the 30% federal investment tax credit (ITC) to both residential and commercial solar installations until December 31, 2016. Also, under the American Reinvestment and Recovery Act (ARRA), the U.S. Treasury Department implemented a program to issue cash grants in lieu of investment tax credit for renewable energy projects.
Subsidy programs: Governments, most notably in China, Japan, Canada, U.K., Australia, India and the Middle East, have increased their financial support for solar projects. China is aiming at increasing its installed solar power capacity to 10 GW by 2015 from 878 MW at the end of 2010.
In Europe, the European Union's goal of a 20% share of renewable sources in the energy basket by 2020 will keep the flow of new projects going. Specific solar energy stocks under our coverage that stand to benefit from this environment with a Zacks #1 Rank (short-term Strong Buy rating) include Westinghouse Solar Inc. (WEST).
WEAKNESSES
Excess capacity: In the near-term, the solar industry is facing the problem of excess solar cell and module capacity. Going by the trend of solar companies citing sluggish demand and high inventory levels, affecting margins, virtually the whole industry is in a pause. The earlier rush in vertical integration by individual players for self-reliance in their solar wafer/cell needs, has thrown up a lot of unutilized capacity for the industry.
Looking forward to the near-term, the industry, facing a supply glut owing to higher production in 3Q2011, will reflect on the aftershocks of inflated inventory and underutilization of capacity leading to lower Average Selling Prices. Solar players like STR Holdings Inc. (STRI), JinkoSolar Holding Co. Ltd. (JKS) and Real Goods Solar Inc. (RSOL) are in for a turbulent future in the near term.
Recent start-ups: A large number of these companies are recent start-ups with limited resources. As such, quite a few depend on their customers’ ability to finance solar projects and remain exposed to continuing near-term losses due to start-up costs. Companies such as Trina Solar Limited (TSL) and Yingli Green Energy Holding Co. Ltd. (YGE) would fall in this category.
Subsidy roll-back: Budgetary constraints have caused prime global solar markets like Germany, Italy, Australia, U.K. and Taiwan to roll back a portion of their grants. Earlier, sales of solar players from the above countries witnessed a sharp rise mainly fueled by the rush to complete projects ahead of subsidy roll-backs. Going forward we expect to see a paradigm shift from a market hoisted by growing governmental/institutional support to one of stable growth. This may affect companies such as First Solar Inc. (FSLR) and SunPower Corporation (SPWRA), which generate a substantial portion of sales from markets like Germany.
Fortunes tied to crude: Alternative energy stock prices generally rise and fall in direct proportion to the price of crude oil. While in times of high oil prices this may present an opportunity, it also increases volatility in the sector.
As per the latest release by the Energy Information Administration (EIA), which provides energy statistics of the U.S. Government, global crude oil and liquid fuels consumption will grow from its record-high level of 87.1 million barrels per day (BPD) in 2010 to 88.2 million BPD in 2011, and will reach 89.6 million BPD in 2012. In its monthly Short-Term Energy Outlook, the agency said the world fuel consumption growth through 2012 will be largely driven by the increased demand from emerging economies.
New emerging technologies: The alternative energy industry remains an emerging sector with a consistent focus on the lowest-cost technology and cost-competitiveness using traditional means of electricity generation. This may prove disastrous for existing companies ruling the solar roost should a cheaper alternative emerge.
AES CORP (AES): Free Stock Analysis Report
ATLANTIC PWR CP (AT): Free Stock Analysis Report
BP PLC (BP): Free Stock Analysis Report
CLECO CORP (CNL): Free Stock Analysis Report
CPFL ENERGI-ADR (CPL): Free Stock Analysis Report
DPL INC (DPL): Free Stock Analysis Report
DUKE ENERGY CP (DUK): Free Stock Analysis Report
DYNEGY INC (DYN): Free Stock Analysis Report
JINKOSOLAR HLDG (JKS): Free Stock Analysis Report
ROYAL DTCH SH-A (RDS.A): Free Stock Analysis Report
REAL GOODS SOLR (RSOL): Free Stock Analysis Report
STR HOLDINGS (STRI): Free Stock Analysis Report
TRINA SOLAR LTD (TSL): Free Stock Analysis Report
UNISOURCE ENRGY (UNS): Free Stock Analysis Report
WESTINGHOUSE SL (WEST): Free Stock Analysis Report
Zacks Investment Research
- Amended Statement of Ownership (SC 13G/A)
UNITED STATES
SECURITIES EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 1)*
Trina Solar Limited
(Name of Issuer)
Ordinary Shares/American Depositary Shares
(Title of Class of Securities)
G90565105 (Ordinary Shares)/ 89628E104 (American Depositary Shares)
(CUSIP Number)
November 15, 2011
(Date of Event which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:
[ ] Rule 13d-1(b)
[X] Rule 13d-1(c)
[ ] Rule 13d-1(d)
* The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).
Continued on following pages Page 1 of 5 Pages
SCHEDULE 13G
CUSIP No.: G90565105/89628E104 Page 2 of 5 Pages
................................................................................
1. Names of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only).
NORGES BANK (THE CENTRAL BANK OF NORWAY)
................................................................................
2. Check the Appropriate Box if a Member of a Group
(a) [ ]
(b) [ ] N/A
................................................................................
3. SEC Use Only
................................................................................
4. Citizenship or Place of Organization
NORWAY
................................................................................
Number of 5. Sole Voting Power 198,481,850
Shares
Beneficially ................................................................
Owned by Each
Reporting 6. Shared Voting Power 0
Person With ................................................................
7. Sole Dispositive Power 98,019,850
................................................................
8. Shared Dispositive Power 100,462,000
................................................................................
9. Aggregate Amount Beneficially Owned by Each Reporting Person
198,481,850
................................................................................
10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See
Instructions)
N/A
................................................................................
11. Percent of Class Represented by Amount in Row (9)
4.9995%
................................................................................
12. Type of Reporting Person:
OO
CUSIP No.: G90565105/89628E104 Page 3 of 5 Pages
Item 1(a). Name of Issuer:
Trina Solar LTD. (the "Issuer").
Item 1(b). Address of Issuer's Principal Executive Offices:
No. 2 Xin Yuan Yi Road Electronics Park
New District, Changzhou, Jiansgu 213031
Changzhou F4 213031
China
Item 2(a). Name of Person Filing:
This Statement is filed on behalf of each of the following
persons (collectively, the "Reporting Persons"):
NORGES BANK (CENTRAL BANK OF NORWAY)
Item 2(b). Address of Principal Business Office or, if None, Residence:
Bankplassen 2
PO Box 1179 Sentrum
NO 0107 Oslo
Norway
Item 2(c). Citizenship:
Norwegian
Item 2(d). Title of Class of Securities:
Ordinary Shares/American Depositary Shares
Item 2(e). CUSIP Number:
G90565105/89628E104
Item 3. If This Statement is Filed Pursuant to ss.ss.240.13d-1(b) or
240.13d-2(b) or (c),
Check Whether the Person Filing is a:
This Item 3 is not applicable.
Item 4. Ownership:
Item 4(a) Amount Beneficially Owned
As of November 15, 2011, Norges Bank may be deemed to be the
beneficial owner of 198,481,850 common shares.
Item 4(b) Percent of Class:
The number of Shares which Norges Bank may be deemed to be the
beneficial owner of constitutes approximately 4.9995% of the total
number of common shares outstanding.
Page 4 of 5 Pages
Item 4(c) Number of Shares of which such person has:
NORGES BANK (CENTRAL BANK OF NORWAY)
(i) Sole power to vote or direct the vote: 198,481,850
(ii) Shared power to vote or direct the vote: 0
(iii) Sole power to dispose or direct the disposition of: 98,019,850
(iv) Shared power to dispose or direct the disposition of: 100,462,000
Item 5. Ownership of Five Percent or Less of a Class:
If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class securities, check the following [X].
Item 6. Ownership of More than Five Percent on Behalf of Another
Person:
This Item 6 is not applicable.
Item 7. Identification and Classification of the Subsidiary Which
Acquired the Security Being Reported on By the Parent Holding Company:
This Item 7 is not applicable.
Item 8. Identification and Classification of Members of the Group:
This Item 8 is not applicable.
Item 9. Notice of Dissolution of Group:
This Item 9 is not applicable.
Item 10. Certification:
By signing below each of the Reporting Persons certifies that, to the best of their knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect.
Page 5 of 5 Pages
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
Solar's Good News - Capacity Plans Cut Back
One of the major problems facing the solar industry this year is that, despite a demand slowdown, the main Chinese solar players have continued to forge ahead with major plans to build out even more capacity. STP has just announced a hold on capacity through to the end of 2012 - joining three others in cutting back on planned build-out. For more detail see -
http://www.cleanenergyintel.com/2011/11/solars-good-news-cut-backs.html
This is undoubtedly good news.
TSL
9.30 HOD so far not to shabby ..
take
I wish they would buy some fricking shares back
instead of this sponsorship:
http://www.lotusrenaultgp.com/1645-Trina-Solar.html?lang=en
r
Polysilicon prices accelerate to the downside - but broader stock market bullish
The new weekly price data for polysilicon, solar wafers and solar cells shows further damaging weakness. For a fuller discussion see -
http://www.cleanenergyintel.com/2011/10/solar-polysilicon-prices-accelerate-to.html
Having said that, the direction from here is likely to be more about the overall market - and there are good reasons to be bullish this month -
http://www.cleanenergyintel.com/2011/10/non-farm-payrolls-prime-market-for.html
TSL
GLTA .. My target is 10 within the next 2 quarters . JMHO
Take
6.35$ NOW
"The key question will be whether this technological improvement can be fully commercialized and then compete against the scale advantages and head starts of the established Chinese crystalline competitors, Yingli Green Energy (YGE), Trina Solar Limited (TSL), STP, JA Solar Holdings (JASO) and others. It should be noted that 1366 operates upstream from a module manufacturer in that its technology, as described on the website, is for manufacturing solar cells. Solar cells are then combined to create solar modules. However, many Chinese companies are vertically integrated and manufacturer their own cells for their own modules."
http://seekingalpha.com/article/298492-more-solar-embarrassment-ahead-for-the-obama-administration?source=yahoo
"In the third quarter, we expect a significant reduction in our manufacturing costs due in large part to recently completed renegotiation of the majority of our long term polysilicon feedstock and wafer agreements. We have seen substantial improvement in order pipeline from our distributors and large commercial and utility segment customers across Europe and North America. In addition to recently concluded agreements, we are also advancing discussions with new and existing customers to secure a growing number of sales agreements that extend through the second half of the year and early 2012.
"We are very encouraged by China's solar feed-in-tariff updates announced on August 1, which we believe reflect the improved economics and efficiency of solar energy. Since our recently announced agreements to supply two large-scale solar projects in Qinghai, we have seen increased opportunities to expand our domestic shipment allocations as the market expands.
"We remain focused on quality performance, product innovation and improved manufacturing efficiency, with the ultimate goal of improving total PV system performance, reliability and cost factors to further differentiate our product offerings. To support these goals, we recently announced our collaboration with Australia National University to develop high efficiency n-type monocrystalline solar cells with conversion efficiencies of 20%, and the launch of our innovative Trinamount mounting solutions to reduce overall system costs through systems-level innovation and product design.
"Lastly, we are excited to announce an improved warranty program that extends our product workmanship warranty from five to ten years and offers a 25-year linear performance warranty that positions Trina Solar's modules as one of the safest investments in the renewable energy marketplace."
Here are some highlights of comments made by CEO Jifan Gao..
- achieved record shipments in the quarter despite solar subsidy reductions in Italy
- expects significant reduction in Q3 manufacturing costs
- seeing substantial improvement in order pipeline across Europe and N America
- encouraged by China’s national solar FIT program announced several weeks ago
- expanded warranty from 5 to 10 years
Looking ahead the company expects and record quarter in terms of shipments with Q3 shipments in the range of 480 – 520MW and for the full year the company reiterates previous shipments guidance of between 1.75 – 1.8GW.
TSL
The analysts at BAC are MORONS JMHO
The big picture on TSL:
There is just a float of approx. 43M shares if we submit the Major Holdings from the outstanding shares of 79.4M.
Source: http://finance.yahoo.com/q/mh?s=TSL+Major+Holders
20.5M shares are short as of 09/15/2011
4.776367 days to cover - we have had a three day run - on the fourth day the pps has dropped like a stone.
Source: http://www.nasdaq.com/symbol/tsl/short-interest
Now I get a clue why BAC is publishing a target of $2.00 for TSL...
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Trina Solar leadership team is made up of employees from a number of nationalities, each with significant management and PV industry experience, who work together to bring the highest quality solar modules and the best service to customers around the world. |
Jifan Gao Chairman and Chief Executive Officer | |
Mr. Gao established Trina Solar in December 1997. His success in developing Trina Solar over the past ten years originated from his experience with his prior two companies. Prior to founding Trina Solar, Mr. Gao established and managed Wujin Xiehe Fine Chemical Factory for five years. Earlier, Mr. Gao spent four years establishing and managing his first company, Guangdong Shunde Fuyou Detergent Plant. Mr. Gao currently serves as the Vice Chairman of the China Renewable Energy Society Solar Power Construction Committee and the standing Vice Chairman of New Energy Chamber of Commerce of All-China Federation of Industry and Commerce. He graduated from Jilin University with a MS degree in Physical Chemistry in 1988. He received his BS in Chemistry from Nanjing University in 1985. |
Terry Wang Chief Financial Officer | |
Mr. Wang joined Trina Solar as our Senior Vice President of Finance in January 2008. Mr. Wang has 20 years of extensive experience in international financial operations and management in technology and manufacturing industries. Before joining Trina Solar, Mr. Wang served as the Executive Vice President of Finance of Spreadtrum Communications, Inc., a fabless semiconductor company listed on NASDAQ. Prior to Spreadtrum Communications, Mr. Wang served as CFO of a silicon valley-based technology company and controller at one of the world's largest NASDAQ-listed semiconductor assembly and testing companies. Mr. Wang holds a Certified Management Accountant (CMA) and a Certified in Financial Management (CFM) as well as an MBA in Finance from the University of Wisconsin. |
Mark Kingsley Chief Commercial Officer | |
Mr. Mark Kingsley has been appointed to the new position of Chief Commercial Officer effective May 1, 2011. Mr. Kingsley will report directly to Mr. Jifan Gao, Trina Solar's Chairman and Chief Executive Officer and will be responsible for leading the global sales, marketing and product management efforts. He will also help to further develop the Company's global commercial presence and achieve a sustainable global leadership position in the solar space. Mr. Kingsley brings to Trina Solar more than 20 years of extensive global business operations and marketing experience from the world's largest technology firms. Prior to joining the Company, he served as a Senior Vice President and Head of ABB Robotics' business unit based in Zurich. Before that, he was the Chief Marketing Officer at GE Sensing & Inspection Technologies and a member of GE's corporate marketing council. |
Stephanie Yang Shao Chief Human Resources Officer | |
Ms. Stephanie Yang Shao has joined the Company as Chief Human Resources Officer on September 15, 2010, reporting directly to Chief Executive Officer, Mr. Jifan Gao. Ms. Shao brings to Trina Solar more than 15 years of global experience in FORTUNE 500 companies and expertise in key human resources ("HR") areas, including corporate and international recruitment, performance management and organization development. Ms. Shao will oversee Trina Solar's overseas HR management system and compensation and benefits for its employees globally. Before joining Trina Solar, Ms. Shao worked at Colgate-Palmolive (New York) in various roles, including the position of Global Employee Relations & Engagement Director. Prior to Colgate-Palmolive, she worked at Bristol-Myers Squibb and The Dun & Bradstreet Corporation in functions related to HR, marketing, and business development. Ms. Shao holds a Doctorate degree in Social & Organizational Psychology from Rutgers University and received an Executive Education in Marketing Management from the Graduate School of Business of Columbia University in New York. |
Gary Yu Senior Vice President, Operations | |
Mr. Yu who served as Trina Solar's Vice President of Manufacturing since May of 2007, has been promoted to the position of Senior Vice President, Operations since July 2010. Mr. Yu has 17 years manufacturing management experience in semiconductor-related industries. Before joining Trina Solar, he was Managing Director of Wuxi Lite-On Technology, a LED assembly company in China. Prior to Wuxi Lite-On Technology, he served as a Director of Manufacturing for 1st Silicon Sdn. Bhd, Malaysia. Earlier, he worked at Macronix International, a semiconductor integrated device manufacturer in Taiwan. Mr. Yu received his master's degree in Industrial Engineering and Management from National Chiao Tung University in Taiwan and his bachelor's degree in Chemical Engineering from Tunghai University. |
From 175-210W, Trina Solar's monocrystalline series provides the best $/KWH value under the sun.
From 225-285W, Trina Solar's multicrystalline series include the most popular, vertical and adaptable panels for large-scale installations.
Combining PV module expertise with a highly innovative mounting system solution, Trina Solar is introducing Trinamount solutions.
One of the driving trends in the solar industry is increasing the overall value of solar modules by increasing the amount of energy generated per area required. With the continuous improvement of our mono and multicrystalline cell technologies we strive to live up to our motto of "more power, less space".
Here at Trina Solar, we take customer suggestions seriously, and incorporate their feedback in our panel design to make our products aesthetically pleasing.
One of the major advantages of solar energy is its versatility. Our panels are designed with the same goal of wide applicability.
Trina Solar is looking beyond the module to bring you the best solutions available in the market. Combining PV module expertise with a highly innovating mounting system solution, Trina Solar is introducing the Trina Mount-the fastest, easiest and least expensive way to mount PV modules onto residential and commercial rooftops.
Average volume | 2.69m |
---|---|
Shares outstanding | 79.49m |
Free float | 78.70m |
P/E (TTM) | 3.60 |
Market cap | 644.66m USD |
EPS (TTM) | 2.26 USD |
Fiscal Year Ending Dec 31 2010 | 2010 | 2009 | 2008 |
REVENUE AND GROSS PROFIT | |||
Total revenue | 1,858 | 845 | 832 |
OPERATING EXPENSES | |||
Cost of revenue total | 1,273 | 608 | 667 |
Selling, general and admin. expenses, total | 148 | 96 | 61 |
Depreciation/amortization | -- | -- | -- |
Unusual expense(income) | -- | -- | -- |
Other operating expenses, total | -- | -- | -- |
Total operating expense | 1,440 | 710 | 732 |
Operating income | 417 | 135 | 100 |
Other, net | 0.22 | 2.61 | (0.16) |
INCOME TAXES, MINORITY INTEREST AND EXTRA ITEMS | |||
Net income before taxes | 360 | 121 | 65 |
Provision for income taxes | 48 | 25 | 4.61 |
Net income after taxes | 311 | 96 | 61 |
Minority interest | -- | -- | -- |
Net income before extra. Items | 311 | 96 | 61 |
Total extraordinary items | -- | -- | -- |
Net income | 311 | 96 | 61 |
Inc.avail. to common excl. extra. Items | 311 | 96 | 61 |
Inc.avail. to common incl. extra. Items | 311 | 96 | 61 |
EPS RECONCILIATION | |||
Basic/primary weighted average shares | 3,403 | 2,724 | 2,501 |
Basic/primary eps excl. extra items | 0.09 | 0.04 | 0.02 |
Basic/primary eps incl. extra items | 0.09 | 0.04 | 0.02 |
Dilution adjustment | 9.42 | 9.43 | 4.00 |
Diluted weighted average shares | 3,834 | 3,132 | 2,691 |
Diluted eps excl. extra items | 0.08 | 0.03 | 0.02 |
Diluted eps incl. extra items | 0.08 | 0.03 | 0.02 |
COMMON STOCK DIVIDENDS | |||
DPS - common stock primary issue | 0 | 0 | 0 |
Gross dividend - common stock | 0 | 0 | 0 |
PRO FORMA INCOME | |||
Pro forma net income | -- | -- | -- |
Interest expense, supplemental | 34 | 27 | 25 |
SUPPLEMENTAL INCOME | |||
Depreciation, supplemental | 52 | 34 | 20 |
Total special items | -- | -- | -- |
NORMALIZED INCOME | |||
Normalized income before taxes | 360 | 121 | 65 |
Effect of special items on income taxes | -- | -- | -- |
Income tax excluding impact of special items | 48 | 25 | 4.61 |
Normalized income after tax | 311 | 96 | 61 |
Normalized income avail. to common | 311 | 96 | 61 |
Basic normalized EPS | 0.09 | 0.04 | 0.02 |
Diluted normalized EPS | 0.08 | 0.03 | 0.02 |
Fiscal Year Ending Dec 31 2010 | 2010 | 2009 | 2008 |
ASSETS | |||
Cash And Short Term Investments | 753 | 410 | 132 |
Total Recivables, Net | 377 | 288 | 105 |
Total Inventory | 79 | 81 | 86 |
Prepaid expenses | 122 | 69 | 50 |
Other current assets, total | 83 | 79 | 47 |
Total current assets | 1,415 | 928 | 420 |
Property, plant & equipment, net | 571 | 477 | 358 |
Goodwill, net | -- | -- | -- |
Intangibles, net | 37 | 27 | 27 |
Long term investments | -- | -- | -- |
Note receivable - long term | -- | -- | -- |
Other long term assets | 94 | 107 | 133 |
Total assets | 2,132 | 1,549 | 940 |
LIABILITIES | |||
Accounts payable | 189 | 187 | 63 |
Accrued expenses | 82 | 49 | 21 |
Notes payable/short-term debt | 0 | 0 | 0 |
Current portion long-term debt/capital leases | 295 | 267 | 249 |
Other current liabilities, total | 34 | 13 | 3.65 |
Total current liabilities | 600 | 515 | 336 |
Total long term debt | 300 | 316 | 144 |
Total debt | 595 | 583 | 393 |
Deferred income tax | -- | -- | -- |
Minority interest | -- | -- | -- |
Other liabilities, total | 58 | 38 | 23 |
Total liabilities | 958 | 869 | 504 |
SHAREHOLDERS EQUITY | |||
Common stock | 0.04 | 0.03 | 0.03 |
Additional paid-in capital | 643 | 460 | 313 |
Retained earnings (accumulated deficit) | 520 | 208 | 112 |
Treasury stock - common | -- | -- | -- |
Unrealized gain (loss) | -- | -- | -- |
Other equity, total | 11 | 11 | 11 |
Total equity | 1,174 | 679 | 437 |
Total liabilities & shareholders' equity | 2,132 | 1,549 | 940 |
Total common shares outstanding | 3,964 | 3,487 | 2,958 |
Treasury shares - common primary issue | 0 | 0 | 0 |
2011 Press Releases
SEC Filings
Filing Date | Form | Description | Filing Group | Downloads | |||
22.11.11 | SC 13G/A | An amendment to the SC 13G filing | Other | ||||
22.11.11 | 6-K | Report of foreign issuer rules 13a-16 and 15d-16 of the Securities Exchange Act | Current Reports | ||||
17.11.11 | SC 13G | A statement of beneficial ownership of common stock by certain persons | Other | ||||
10.11.11 | SC 13G | A statement of beneficial ownership of common stock by certain persons | Other | ||||
08.11.11 | 6-K | Report of foreign issuer rules 13a-16 and 15d-16 of the Securities Exchange Act | Current Reports | ||||
28.10.11 | 6-K | Report of foreign issuer rules 13a-16 and 15d-16 of the Securities Exchange Act | Current Reports | ||||
13.10.11 | 3 | Initial filing by director officer or owner of more than ten percent. | 3,4,5 | ||||
14.09.11 | 6-K | Report of foreign issuer rules 13a-16 and 15d-16 of the Securities Exchange Act | Current Reports | ||||
24.08.11 | 6-K | Report of foreign issuer rules 13a-16 and 15d-16 of the Securities Exchange Act | Current Reports | ||||
23.08.11 | SC 13G | A statement of beneficial ownership of common stock by certain persons | Other |
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