You are not logged in.

odyd12

Administrator

Posts: 2,467

Date of registration: Jan 3rd 2013

Stock Positions: Long: TSL

Thanks: 348

  • Send private message

41

Wednesday, April 17th 2013, 9:08pm

according to this article the capacity sold is 2.2GW , I think that PV-Tech is misinformed.
http://www.pv-tech.org/news/ldk_solar_se…_us19.4_million

I say it is 1GW of cell and 500MW of module

explo

Master

Posts: 1,765

Date of registration: Sep 29th 2012

Stock Positions: SOL, JASO

Thanks: 154

  • Send private message

42

Thursday, April 18th 2013, 12:44am

according to this article the capacity sold is 2.2GW , I think that PV-Tech is misinformed.
http://www.pv-tech.org/news/ldk_solar_se…_us19.4_million

I say it is 1GW of cell and 500MW of module
What makes you think that?

odyd12

Administrator

Posts: 2,467

Date of registration: Jan 3rd 2013

Stock Positions: Long: TSL

Thanks: 348

  • Send private message

43

Thursday, April 18th 2013, 6:53am

Based on follwing statements:"We produce solar cells in our
production facilities in Hefei City of Anhui Province, and in Xinyu City Hi-Tech Industrial Park in Jiangxi
Province, China. As of March 31, 2011, we had an annualized solar cell production capacity of approximately
1.7 GW".
Hefei had only 1GW (last reference)



We
produce solar modules in our production facilities in Nanchang City of Jiangxi Province, Suzhou City of Jiangsu
Province, Hefei City of Anhui Province, and Shenzhen City of Guangdong Province, China. As of March 31,
2011, we had an annualized solar module production capacity of approximately 1.7 GW, and plan to expand our
annualized solar module production capacity to 2.6 GW by the year-end of 2012.
Hefei has 500MW of modules (last reference)


As I poined out $632M was "reserved" of the liabilities from LDK's balance sheet and 646 on asset line.

pg6solar

Trainee

Posts: 142

Thanks: 3

  • Send private message

44

Thursday, April 18th 2013, 6:56am

Per just concluded CC, LDK stated that their current cell capacity is only 240MW, while module capacity is 1.5GW.

odyd12

Administrator

Posts: 2,467

Date of registration: Jan 3rd 2013

Stock Positions: Long: TSL

Thanks: 348

  • Send private message

45

Thursday, April 18th 2013, 7:05am

if this is the case the capacity was reduced from 2.2 to 0.240 cell and from 2.6 to 1.5 for module
This means 3.1GW of combined capacity, more than the location they are selling has been closed.

odyd12

Administrator

Posts: 2,467

Date of registration: Jan 3rd 2013

Stock Positions: Long: TSL

Thanks: 348

  • Send private message

46

Thursday, April 18th 2013, 7:06am

Looks like LDK is assuming SOL model of capacity

Klothilde

Unregistered

47

Thursday, April 18th 2013, 7:06am

OMG, similar capacity structure as SOL ! We have twins !

odyd12

Administrator

Posts: 2,467

Date of registration: Jan 3rd 2013

Stock Positions: Long: TSL

Thanks: 348

  • Send private message

48

Thursday, April 18th 2013, 7:12am

what is their wafer capacity now 4.3GW? I am curious how much M3 capacity they have this is a product which is competing with SOL's virtus II

solarcat

Unregistered

49

Thursday, April 18th 2013, 7:50am

Who gives a hoot what their capacity is when they only going to do 30-40MW in Q1. What is that in utilization? 10-20%? Might as well close shop.

odyd12

Administrator

Posts: 2,467

Date of registration: Jan 3rd 2013

Stock Positions: Long: TSL

Thanks: 348

  • Send private message

50

Thursday, April 18th 2013, 7:53am

when they remove the $632M from liabilities, their debt will drop to 2.7B, While this seems to be not manageable, the lack of movement in poly as I suspected, will still trap them with costs of their poly production and their new plan. That $160M sitting in the balance sheet is the last chance to get the Mahjong to produce under $20 per kg. While I am joking about SOL's template of producing HP wafers and having access to internally cheap produced poly, it can manage LDK entrance on the US market again. LDK cell production was probably not that attractive with efficiency output, and it lost its purpose with tariffs. I would not be surprised that module facilities would be used as outsource for others at one point.

solarcat

Unregistered

51

Thursday, April 18th 2013, 7:57am

OMG, similar capacity structure as SOL ! We have twins !


Thank God SOL didn't have to waste $3 billion dollars like LDK to find what the optimum capacity is. LOL

solarcat

Unregistered

52

Thursday, April 18th 2013, 8:01am

Are you guys serious? Do you really expect LDK as a going concern going forward? Their customers have abandon them. What is 30-40MW in Q1 in this industry? A rounding error?

explo

Master

Posts: 1,765

Date of registration: Sep 29th 2012

Stock Positions: SOL, JASO

Thanks: 154

  • Send private message

53

Thursday, April 18th 2013, 8:12am

>>Per just concluded CC, LDK stated that their current cell capacity is only 240MW, while module capacity is 1.5GW.

Thanks. That means that their capacity has reduced much more than initial Hefei construction capacity of 1 GW cell and 500 MW modules and that in turn likely means that they had added capacity to Hefei (as indicated by its stated asset value too which was higher than initial construction value).

Most of their 2.2 GW cell capacity is gone from LDK anyway as per CC. That's all we need to know.

odyd12

Administrator

Posts: 2,467

Date of registration: Jan 3rd 2013

Stock Positions: Long: TSL

Thanks: 348

  • Send private message

54

Thursday, April 18th 2013, 8:13am

Both STP and LDK situation is a learning to take on what is taking place to reorganize industry and how far reaching those actions will be. I am not personally concerned about amount of modules they ship in Q1. I know what they have delivered globally thus far. I am interested in factoring their presence or lack of presence, i.e. reduced capacity, as a influence on the leadership of the solar industry in China, if we assume 8 or 7 companies listed in the US are that.

First learning is that:
1. Debt, particularly domestic one, is not considered an impact.
2. Despite of approach bankruptcy locally, The holding company remains viable.
3. Point 2 taken under consideration, assets outside of China are considered for sale in order to satisfy creditors, so global laws apply.
4. Negative equity is a reality of the industry, what is the implication with the market to this fact, seems not much.
5. Will prices increase because more of capacity is being shut down
6. Is there hidden capacity still operating. Clearly Suntech has many orders but only operates 600MW of module lines.
7. LDK has no orders but keeps 1.5GW capacity for modules. I think they may outsource facilities to someone or sell them. Module efficiency (CTM) is in infancy so they are semi-equal if not equal to everyone.

Those are points I am interested in.
If anyone is interested to discuss please do.

solarcat

Unregistered

55

Thursday, April 18th 2013, 8:16am

IMHO, not only LDK can't sell any product as their guidance and utilization shows, but even the stuff that they do "sell" is going to deadbeat companies who are bankrupt themselves and can not pay, as their doubtful accounts write offs show... great company that LDK. I bet the first thing they do would be to change their name as LDK currently stands for poop.

Similar threads

Social bookmarks

New Member

gltl(Today, 8:41pm)

dmc(Jun 27th 2013, 6:38am)

tulles(Jun 23rd 2013, 7:51pm)

Jacob(Jun 23rd 2013, 11:36am)

BenzinaJake(Jun 19th 2013, 2:57pm)

Statistic

  • Members: 102
  • Threads: 1,692
  • Postings: 13,810 (ø 50.04/day)
  • Greetings to our newest member: gltl

.