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  • Yingli's Q1 Results: Hope Springs Eternal As Financials Deteriorate [View article]
    It is difficult to take an article or author seriously when all negatives are accentuated and all positives are questioned of diminished.

    YGE has a high debt load, this much has been known for quite some time. As to whether the management is correct in its assessment of profitability, we will know later this year. But in the meantime, the sharp drop off the 52 week high has me believing that the downside risk has been priced in while any upside potential has been ignored.
    Jun 18, 2014. 08:38 AM | 4 Likes Like |Link to Comment
  • The Solar Industry Is Red Hot - Will It Get Hotter? [View article]
    ephud

    By your logic, it would also be correct to say no one has ever died of a heart attack. After all, death does not occur when the heart stops beating. Your avoidance of reality is comical.

    Shhhhh.... be vewy, vewy, quiet! I'm hunting wabbit!
    May 6, 2014. 04:23 PM | Likes Like |Link to Comment
  • The Solar Industry Is Red Hot - Will It Get Hotter? [View article]
    ephud

    Maybe you like to live in a cartoon world, but the reality of nuclear power has people and governments turning away from it in horror. Call it misinformation if you want, but again, go to Google images and type in Fukushima. Better yet, read the accounts of people who have sailed across the Pacific, pre and post Fukushima. Your claims of safety completely sidestep the reality of the situation.
    May 6, 2014. 12:55 PM | 1 Like Like |Link to Comment
  • The Solar Industry Is Red Hot - Will It Get Hotter? [View article]
    And then if you want to get a grip on reality, go to Google images and type in Hiroshima or Nagasaki.
    May 6, 2014. 08:21 AM | 1 Like Like |Link to Comment
  • The Solar Industry Is Red Hot - Will It Get Hotter? [View article]
    Consider this info that Reuters News published last November (http://reut.rs/1hQ0QdT):

    "The new government borrowing program would increase the amount earmarked for Fukushima-related expenses to the equivalent of just over $80 billion, according to government officials with knowledge of the developing plan who asked not to be named.

    That $80 billion excludes the cost of decommissioning Fukushima's six reactors, a process expected to take decades."

    Your view of "rational world" would be a bankrupt, glowing coffin.
    May 6, 2014. 06:30 AM | Likes Like |Link to Comment
  • No Second Solar Slump In Sight [View article]
    Your point is well taken, but that is why the stock is oversold; pretty much everyone is singing that same tune. As always, there is another aspect to consider.

    China's government realizes it cannot meet its goals of shifting away from coal and nuclear to solar without YGE, its largest producer. That is why the state owned companies, Datong Coal and China National Nuclear both signed agreements with YGE earlier this year to cooperate in solar projects. In the March 18 earnings call, the Yingli CEO explained that these deals require YGE to finance 50 to 60 % of the venture with the remaining capital being invested by the minority partner. The plants to be built are 400 to 600 MW facilities at various locations.

    Credit Suisse is out of line saying that 11.5 GW will be installed this year. The production capacity has risen steeply in each of the last three years, and 2013 saw 11.3 GW brought on line in China. By way of comparison, at the end of 2010, the total solar capacity in China was 0.5 GW! For the details, the link is (http://bit.ly/1msVRy4). Again, YGE's CEO addressed this in the call by saying that the government recently affirmed the 14 GW goal for the year.

    China is not going away, its pollution problems are not going away, and its aggressive solar program is only becoming more aggressive with each passing year.
    May 4, 2014. 08:20 PM | Likes Like |Link to Comment
  • Yingli Fund-Raising Signals Hands-Off By Beijing [View article]
    I went back and read the transcript from the March 18 earnings call. While specific company names were not mentioned, the discussion of downstream projects for third-party utility companies leads me to believe they are referring to Datong and China NN. YGE is the majority owner in these partnerships, so just like with Sailing Capital, they must contribute over 50% to the venture. The important part is, the ventures are now ready to go forward, and the minority partners will be contributing the remainder of the capital needed. So it is not a hands off policy as this article states. The transcript section that I am referring to (from SA):

    Credit Suisse Securities
    Okay and then last question when you think about cash flow for 2014, presumably the project that you are building and retaining and putting on balance sheet you are going to have an equity component roughly what do you think that investment is by Yingli for those projects, would you be thinking about maybe 25% equity investments in those projects. Thank you.

    Yiyu Wang

    I think maybe you can forecast like this way, so our PV system costs we develop could be around $1.1 per watt peak, so I assume 25% of them is through equity and you can use them to modeling if we develop like 400 megawatts to 600 megawatts, but as I mentioned, we already formed several joint ventures to develop and the project with some big companies and for this joint ventures most some of them that we own are minority shareholders and but we were provided the whole PV system construction and development services. So, actually this can significantly help us to saving our equity investors. I would like to say amount of total equity for the 400 megawatts to 600 megawatts if needed, maybe we just needed to prepare maybe around a 50% to 60% of the cash, because the remaining can be injected by our joint venture partners.

    Patrick S. Jobin - Credit Suisse Securities
    Okay. And just a clarifying question, you said 50% of projects you anticipate selling to third parties, with the other 50% be purchased by these joint ventures you are mentioning. Thanks.

    Robert Petrina - Managing Director and Vice President of Sales Americas
    Yes, I think currently based on the current expectation and all the negotiations and achievement we have at this moment. We expect we will sell 50% of our downstream projects to the third-parties including joint ventures. However, at this moment we have been also see a very active demand of fine projects even from some very active demand on fine projects even from some of the existing module customers, who are utility company. So, we believe to sell the project is our first priority in the 2014 and we are looking forward to achieve a more percentage of our project to be sold to the third-parties.
    May 3, 2014. 08:45 AM | Likes Like |Link to Comment
  • Yingli Fund-Raising Signals Hands-Off By Beijing [View article]
    Thank you for your comments. I would be interested in hearing any information that you have concerning the status of agreements between YGE and Datong Coal or China National Nuclear.
    Apr 30, 2014. 06:49 AM | Likes Like |Link to Comment
  • Yingli Fund-Raising Signals Hands-Off By Beijing [View article]
    I hope you are right, and for now I am holding. But it is difficult to see anything positive in the move to raise capital by selling stock below market value. It simply drives down the market, as we can plainly see. There are smarter ways to issue new shares.
    Apr 29, 2014. 11:37 AM | Likes Like |Link to Comment
  • Yingli Fund-Raising Signals Hands-Off By Beijing [View article]
    This analysis is an accurate picture of what has happened in the last few weeks in the Chinese solar market. Therefore the conclusions drawn might be sound if events that happened earlier this year are being set aside. At the same time, the hands-off approach would seem to leave the government plan for solar power coming up short of projected goals. Concerning the goal to bring 14 GW of solar online in 2014, Credit Suisse had this to say (from Seeking Alpha 4/28/14):

    Likely adding fuel to the fire: Credit Suisse has slashed its 2014 Chinese solar installation forecast by 500MW to 11.5GW, soundly below the government's 14GW target (set in February). CS thinks policy changes related to utility-scale projects, feed-in tariff reimbursement, and distributed solar incentives are needed for investment to pick up.


    Early in 2014, YGE established agreements with two state owned companies, Datong Coal Mining and China National Nuclear, that projected to construct solar power plants in various locations in an effort to meet governmental goals. With this latest action by YGE to capitalize downstream projects, it leaves doubt as to which way government policy is tilting and the impact it will have on YGE and other solar entities as well.
    Apr 29, 2014. 08:33 AM | 1 Like Like |Link to Comment
  • New Yingli Fund Evokes Shades Of Suntech [View article]
    Economics has a way of catching up with other forms of power generation too, just not in a way that can be readily calculated before a disaster like Fukushima. Consider this info that Reuters News published last November (http://reut.rs/1hQ0QdT):

    "The new government borrowing program would increase the amount earmarked for Fukushima-related expenses to the equivalent of just over $80 billion, according to government officials with knowledge of the developing plan who asked not to be named.

    That $80 billion excludes the cost of decommissioning Fukushima's six reactors, a process expected to take decades."

    This does not even begin to consider the human or environmental cost felt throughout the Pacific and on the West coast. Is it any wonder that "these visions" persist in an effort to find a better answer that in the end is also more economical.
    Apr 17, 2014. 12:46 PM | 1 Like Like |Link to Comment
  • New Yingli Fund Evokes Shades Of Suntech [View article]
    An excellent point. United PV has contracted Yingli to build not less than 300 MW of capacity in the 2014 to 2016 time frame. This plan is simply a way to finance the ownership till the plant(s) are connected to the grid and ready for United PV to own and operate.
    Apr 17, 2014. 11:35 AM | Likes Like |Link to Comment
  • New Yingli Fund Evokes Shades Of Suntech [View article]
    In China today, the identification of potential buyers for solar power is not the same as in any other country, past or present.

    China's major cities have had regular problems with horrific air pollution. It has been bad enough to shut down airports and other industries. Recognizing this problem, and after seeing the major nuclear disaster at Fukushima, the government has committed to 35 GW of solar by 2015.

    Of course you have written about this in the past which has me puzzled as to why you would make the comparison with Suntech and selling solar in Italy. Do you have reason to believe that China will abandon its ambitious solar program?
    Apr 17, 2014. 07:35 AM | 3 Likes Like |Link to Comment
  • The Solar Revolution: Part 2 [View article]
    There are several ETFs in the green energy sector that are doing quite well this year. QCLN, PBW, FAN and TAN show YTD gains of 60 to 140%.
    Nov 4, 2013. 01:04 PM | Likes Like |Link to Comment
  • Bull Of The Day: Boeing [View article]
    Boeing is an excellent company with a long and admirable history. They have a track record of taking on challenges and responding well to those challenges. That does not mean the new technology in the 787 has already proven itself; it clearly has not. Due to the serious nature of onboard fires (in particular on airplanes that fly routes that are frequently hours away from the nearest landing point) any number is cause for steep concern. My point and objection are not to Boeing or the 787. It is to the thought or advice that there is no cause for concern.
    Jul 22, 2013. 07:19 PM | Likes Like |Link to Comment
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