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There are some seriously poorly performing stocks in the solar sector, especially the smaller Chinese PV makers - and the way things are going some of these players won't be around for the long haul.

Out Friday was news from China Sunergy (NASDAQ:CSUN), an IPO from May of this year, and the news is poor across the board.

1. Quarterly Loss

2. Pricing Pressures

3. Lower production target due to inability to secure polysilicon

4. Oh yeah, and save the best for last: CFO resignation (CEO resigned not too long back) But other than that, everything seems fine.... (ouch)

As I've mentioned previously, the tight supply of polysilicon continues to be a pressure point for companies across the sector, outside of those involved in thin film, i.e. First Solar (NASDAQ:FSLR).

The type of results from China Sunergy is why when asked "Why are these Chinese PV solar makers so cheap based on 2008 earnings?", the answer is - right now no one can believe those 2008 estimates because they are based on enough polysilicon being available and if available, available at price points that make the production profitable.

This is the first company I have seen that is severely curtailing 2007 production due to this issue: "The company now sees total shipments in 2007 to be in the range of 78 megawatts to 83 megawatts. It had earlier forecast annual production to be between 95 and 110 megawatts."

2008 expansion was also curtailed from 6 lines to 4 lines.

Other companies showing severe strain in recent quarterly reports are: Canadian Solar (NASDAQ:CSIQ) and Solarfun Power (SOLF)

CSUN 3-mo chart

Source: China Sunergy Suffering From Solar Sector Strain