Good News Out Of Solarfun (SOLF)

Solarfun (SOLF) is out with a 3rd quarter update and sees Q3 moduleshipments exceeding 100MW, with sales of RMB918-RMB984 million. Grossmargin will be about 17% for the quarter. Peter Xie, President of Solarfun, commented, “The third quarter of2009 is progressing well. Our order patterns are strong as we areseeing an improvement in end market demand. Our efforts to realignsupply costs to reflect current market pricing combined with ourincrease in production capacity at our in-house ingot and wafermanufacturing facilities should allow us to achieve healthy margins inthe third quarter. We continue to face a highly competitive pricingenvironment, but we remain fully confident in our ability to winbusiness as market demand recovers.”

Shares of SOLF are up about 10% this morning and trading back above resistance of the 50 day moving average.

Solarfun (SOLF) Updates Outlook, Sees Improvement In Demand, Shares Surge Above 50DMA


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