SolarPVInvestor Forums

Well done.

Congrats!

Great interview! Thanks!

Personally, I did not learn anything new. I still have only one mystery still left with this company: Since Hanwa bought-in SOLF at just under $10, when stock was significantly under $1, why didn't they just bought it out(at some premium)? Its not like HSOL (having Hanwa as a parent) will need any equity infusion.

Quoted from "odyd12"

"Hanwha SolarOne was doing a lot of OEM for HQCELS."

If I recall correctly, OEM was always a major business for SOLF. I remember SOLF had a large OEM contract with Qcels,

It was also mentioned a while back on these forums. I do not follow the company closely so can not pinpoint that.

"What is the point of taking a public company of the market while you can use the listing as an opportunity for increasing equity. You would have to pay cash for the company to essentially accomplish the same result, run the company".



IMHO equity appreciation was not the reason Hanwa bought-in. If they paid $9-$10 (I do not remember exactly how much now) for majority of it, why not buy the rest cheaply? When I realized they did not care for PPS, I sold out (I think it was March/April of 2011) after 10Q4 report.

I think that was my point in a different thread. Specifically what's investable and what's just tradeable (IMO of course). My mind is not changed: TSL (still even at this price), CSIQ and JKS (IMO entry points already passed), and lastly YGE (but only at 1/2 of TSL's price). The rests - JASO, HSOL and even SOL - while are all cheap even at current prices and will certainly appreciate in price, present no interest to me as investments.

With regards to your last question of the interview
" In 2012 Hanwha Group predicted their domination of the solar market in 2020 with $6B of investments and around 4GW of capacity. Is this idea still in place, including the 10,000MT polysilicon facility? What role will SolarOne play in this plan?"
it seems that you didn't get any comment on the 10,000 MT polysillicon facility...
Hereby a bit of news that came out a month ago or so: Hanwha takes an outside-the-box approach to photovoltaic power

There is also another tidbit of info that I would like to hare with regards to expected HSOL sales in China:
Although China only represented 3% of Module revenue by shipping destination Q1 13 a major market potential for HSOL and other Chinese PV players will open up in H2 2013, thanks to a policy shift: "China's policy shift in 2013 to stimulate on-grid installations and address abandoned power issues"
"Energytrend" expects HSOL to sell about 140MW in China during 2013 thanks to this policy shift. These 140MW may conservatively not been included in HSOLs outlook while it may drastically improve revenues and profitability!

Worth waiting for. Great stuff.

Specifically my suspicion that 30% tolling was for sister was confirmed. Since that's an EU cell maker that can complicate things depending on tariff decision. Having things made EU compliant up to the cell and then make it non-compliant due to doing the module tolling in China might not make sense, since then you losing that EU compliant high ASP opportunity. So that 400 mw tolling volume might be at risk if the trade case settlement still makes EU the most attractive market for non-Chinese companies.