real-time news and commentary for investors
Monday, Sep 30
Chinese solar stocks rally (again) following gov. tax rebate plan
- The Chinese government, which has already set a 35GW 2015 solar installation target, is now offering local solar manufacturers a 50% value-added tax (VAT) rebate for sales taking place from Oct. 2013-Dec. 2015.
- Chinese solar plays are responding well to the news. STP +15.6%. CSUN +23.5%. LDK +13.4%. SOL +5.4%. DQ +4.5%. JASO +3.9%. TSL +4.1%. YGE +3%.
- Also: JinkoSolar (JKS +3.6%) has announced a deal to supply 20MW of modules to the State Grid Corporation (China's biggest electric utility) for a 60MW demonstration project. Deliveries will take place in Q4.
- Last week's gains: Wednesday, Thursday, Friday