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dydo

Quarterly Estimates

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I see $150M added to the liability in the balance sheet but no mentioning of issuance cost in the Q1 income statement.

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Re ASP, they state average at 64c, and claim US is higher

 

"Module average selling price increased during the first quarter to US$0.64. We expect ASP in 2014 to remain stabilized. Regions such as Europe and the U.S. have higher ASP to the European Commission's agreement for a minimum selling place for Chinese modules at 53 euro cents per watt and the USA due to the barrier set by tariffs. "

 

CEDR had 64c GADP, but had sub 60c for US. How do we account for this discrepancy? Could it be under invoicing as eysteinh stated earlier?

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I think odyd mentioned before about lower declared value for inventory buildup and/or less tariff due to lower price??? I was a bit concerned but not convinced about JKS selling substantially lower in US since other sources have been saying higher prices due to tariffs.

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The one thing is to understand the impact of other component sales. I think their ASP went down, but cannot be proven without pricing for other product.

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I will study this over the weekend. I will provide an exclusive overview of CN4 (CSIQ, JKS, TSL and JASO)  on CEDR data and what can we learn from it.,

I am not 100% happy that my buys on JKS did not trigger, but I am happy JKS had lost nothing compared to CSIQ. This is relatively good sign for the entire group.

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They collected some (not much) retainage this quarter which is a new thing together with leased equipment for significant capacity.

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Someone needs to tell Eystein they made 0.20 cents in non-GAAP. You cannot simply remove all financial aspects, to create fictional earnings. 

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