SOURCE: Paragon Financial Limited
NEW YORK, NY--(Marketwire - Aug 6, 2012) - Shares of Chinese solar companies dropped sharply last week, with some even falling to multi-year lows, as thoughts of a long awaited recovery for the industry began to subside. Robert W. Stone, an analyst at Cowen & Co., stated that while solar shipments did increase during the second quarter he does not expect it to continue as a result of increased competition and a softening environment in Europe. The Paragon Report examines investing opportunities in the Chinese Solar Industry and provides equity research on Trina Solar Limited (NYSE: TSL) and Suntech Power Holdings Co., Ltd. (NYSE: STP).
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Chinese solar companies have experienced a dismal 2012. Complaints by U.S. solar manufacturers that China's government uses cash grants, discounts on raw materials, preferential loans and tax incentives, and manipulates its currency to boost exports of solar cells have led to anti-dumping tariffs in the U.S.
Recently a group of EU solar companies have also asked the European Commission to investigate alleged dumping measures by Chinese solar manufacturers. "Europe has the world's most advanced and innovative solar industry, but we've fallen on hard times and are faced with bankruptcy filings because of these Chinese products sold at rates that are up to 55 percent below cost production," EU ProSun President Milan Nitzschke told AFP.
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Trina Solar is one of the few PV manufacturers to have developed a vertically integrated business model that extends from the production of monocrystalline and multicrystalline silicon ingots, wafers and cells to the assembly of high quality modules. The company is scheduled to release second quarter 2012 results on August 21, 2012. Shares of the company have fallen over 25 percent in the last week.
Suntech Power Holdings produces industry-leading solar products for residential, commercial, industrial, and utility applications. Suntech has delivered more than 25,000,000 photovoltaic panels to over a thousand customers in more than 80 countries. Shares of the company have fallen over 41 percent in the last week.
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