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Guest Uncle Chang

Trina Solar (TSL)

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Guest solarfun

Good news!!! ..."The ITC today also made negative findings with regard to critical circumstances in this investigation. This means that there will be no retroactive duties imposed on Trina Solar. " So TSL should report positive earnings this quarter :)http://www.marketwatch.com/story/trina-solar-statement-on-the-international-trade-commissions-determination-of-antidumping-and-countervailing-duties-in-the-united-states-2012-11-07

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It is apparent that the company had very little business in China. They woke up too late with recent changes to project development

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20% drop in value of the stock. I wish there was something to say positive. I confirmed lower shipments in October, thna in September. They have a 50MW project in Gansu, but nothing has been started. It seems like they have lost purpose. The problem is always the same 13% short interest increase in last 30 days. So everyone knew but the retail markets. How is Fanklin Resources feeling about it?

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Guest solarfun

I can understand the drop in shipments, well it doesn't make sense to ship more if you can't make profit on it, but margins in between 0-1.5 %, with the fact that they should get back at least 26m in tariffs, I don't know something must have had happened . Probably, they couldn't collect again, who knows, we will see on Tuesday.

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I am not sure how the reversal applied to Q3, with info just announced about no special circumstances? The stock went to hell in a hand basket, they show no difference than anyone else. Some B Chinese companies are getting projects yet Trina is sleeping at the wheel. I think that Yingli is in the same boat going over the cliff. Unless they get 45% business in China in Q3, their quarter will be worse.

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Guest solarfun

I don't know either, but that what they said in the press release:

..."the Company estimates that overall gross margin, including the impact of a provision for a non-cash inventory write-down and a reversal of prior provisions for anti-dumping and countervailing duties (ADCVD) in the United States, to be between 0% and 1.5%,"...

http://www.marketwatch.com/story/trina-solar-announces-updates-to-third-quarter-2012-guidance-2012-11-12

I don't know about China, maybe they don't want to sell below some minimum price to get the projects, who knows,

That is from the same release: ..."Our third quarter sales were adversely impacted by a continued supply-demand imbalance in the global PV industry, high inventory levels and irrational pricing practices by some competitors in the market,"

They think they have a premium product and won't sell below some minimum price.

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If they are not selling, why not to say it? Also as you said, why such a low GM, if the product is at the premium and only "good" ASP is being used? I think they had all capacity off and idling added to costs from Q1 and Q2 production. We should remember if they were selling the inventory it would be produced at Q2 or even at Q1 prices. I hate to hear they have still a lot of inventory. If this is the case they stink. Solarzoom is saying that inventories are down across the country, so Trina having it is just plain wrong, but let's see what Canadian shows tomorrow

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