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Market: Nasdaq
Sector: Renewable Energy
EPIC: CSUN
Latest Price: 2.44  (6.55% Ascending)
52-week High: 14.40
52-week Low: 1.09
Market Cap: 20.74M
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China Sunergy
www.chinasunergy.com
China Sunergy is a specialized manufacturer of solar cell products in China. China Sunergy manufactures solar cells from silicon wafers utilizing crystalline silicon solar cell technology to convert sunlight directly into electricity through a process known as the photovoltaic effect. China Sunergy sells solar cell products to Chinese and overseas module manufacturers and system integrators, who assemble solar cells into solar modules and solar power systems for use in various markets.
Full China Sunergy profile here
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China Sunergy finished 2009 strongly with improved shipment levels and revenues in Q4

11th Mar 2010, 2:45 pm
China Sunergy finished 2009 strongly with improved shipment levels and revenues in Q4

Nanjing-based solar cell manufacturer China Sunergy (NASDAQ: CSUN) reported fourth quarter 2009 revenues of US$97.6m, up 125.9% compared to the same period in 2008 and up 21.8% from the preceding quarter. In Q4, the company made shipments totalling 74.3MW representing a 427% increase on a year-on-year basis, and a 36.6% increase on Q3.

Over the whole year, revenues decreased 18.8% to US$284.9m from US$350.9m in the previous financial year, gross margins increased to 5.8% compared to 4.4% in 2008. Gross profit increased by 7.1% to US$16.6m compared with US$15.5m in 2008. Net losses narrowed to US$9.8m compared to US$22.9m in 2008.

According to China Sunergy, the net loss would have been smaller had it not been for a bad debt provision of approximately US$4.9m.

The company said it has continued to enhance and commercialize its high-efficiency P-Type and N-Type cells during the year. China Sunergy said it began to adopt necessary adjustments in its manufacturing operations towards the end of the period.

It expects to begin construction of the Shanghai manufacturing facility, which will be capable of high-efficiency cell production, in the second half of 2010. Additionally product redesign and process improvements, combined with a review of its raw materials purchase policy, will enable a lower cost structure by the second half of 2010, China Sunergy added.

At the end of 2009, China Sunergy had five selective emitter cell lines, four HP cell lines, of which three are capable of using multi-crystalline and mono-crystalline wafers, and one normal P-type line for multi-crystalline cells for a total name-plate capacity of 320MW.

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