TAIWAN SOLAR SEPARATING

EnergyTrend: Taiwan Solar Companies’ Revenues in 12’Jan Differed Vastly; Rush Orders May Increase Revenues in 1Q12
2012 February 10 (Energy Trend)

"…January 2012 revenues for Taiwanese solar companies…underwent setbacks despite the rush orders pouring in before the [Chinese New Year holidays]…However, certain companies’ revenues saw steep growth on account of their lower base month over month value for 11’Dec…[Experts think] the uncertainty of Europe countries’ subsidy policies has stimulated the demand in 1Q12, which resulted in the rush orders for Taiwanese wafer, cell and module makers…[which are expected to] last at least until late February or early March.

"…[M]anufacturers’ revenues in January differed vastly…Solartech (up by 103.4% )and Neo Solar Power’s revenues (up by 28.2%) increased considerably, while Sino-American Silicon Products (fell by 18.8%) and Green Energy Technology’s (fell by 7.4%) revenues continued to fall…[Prices] remained below the costs…"

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"…[W]hether or not the companies can make profit remains to be seen…Taiwanese cell makers received many orders from Chinese and European companies. The cells will be shipped to a third party to integrate with modules. As for the products shipped to the United States, the manufacturers place their orders to Taiwanese cell and module makers, which prevents them from stepping on the PV trade issue.

"EnergyTrend predicts that in 1Q12, Taiwanese solar companies’ revenues will gradually go up…[In previous years] January is the low season due to the subsidy cut in December and the weather conditions…However, the market supply and demand still has room for improvement…"