3 Hot Chinese Solar Stocks $YGE $JASO $SOL
Yingli Green last Friday released its second-quarter financial results, posting second-quarter total net revenue of $680.7 million, a 27.4% increase over the previous quarter. The company’s second-quarter PV module shipment jumped 36.6% on a sequential basis in the second quarter of 2011. The company’s operating income for the second quarter of 2011 was $81.4 million.
Liansheng Miao, chairman and CEO of Yingli Green, said that with the substantially increased shipments, the company managed not only to expand its global market share, but also to extend its sales geographies.
JA Solar Holdings Co. Ltd. (ADR) (NASDAQ: JASO) ADRs are soaring in today’s trading. At last check, the ADRs were trading 8.22% higher at $3.43, with volume at 2.45 million.
Last week, JA Solar released its second-quarter financial results. The company’s second-quarter shipments were 401 MW, representing an increase of 28.9% over the same period in the previous year. On a sequential basis, the company’s shipments fell 11.1%. JA Solar reported revenue of $413 million for the second quarter of 2011, representing an increase of 12.1% over the previous year. The company reported net loss of $35.4 million for the second quarter of 2011.
JA Solar CEO Dr. Peng Fang said that the company’s second-quarter results reflect the market disruption that resulted from generally lower than anticipated installation levels in Germany and recent policy changed in Italy.
ReneSola Ltd. (ADR) (NYSE: SOL) ADRs are climbing in today’s trading. At last check, the ADRs were trading 4.65% higher at $3.15, with volume at 1.30 million.
ReneSola on Monday announced that its board of directors approved a share repurchase program under which the company would buyback up to $100 million of its outstanding shares.
Xianshou Li, CEO of ReneSola, said that at present the company believes its shares are undervalued and that despite relatively weak capital markets and a challenging solar market, the company is confident in the long-term prospect of its business and the industry as a whole.
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