China Sunergy Provides Update on Selected 2009 Second Quarter Estimated Results
(Nasdaq: CSUN), (”China Sunergy” or the ”Company”) a specialized solar cell
manufacturer based in
several estimated financial and operational results for the second quarter
ended
China Sunergy’s second quarter solar cell shipments slightly exceeded the
previously announced guidance of 35MW to 40MW. Gross profit margin is expected
to be around 9%, compared with prior guidance of a positive low single digit
number. China Sunergy also expects to return to quarterly profitability for
the second quarter of 2009.
”During the second quarter China Sunergy met or exceeded the guidance
targets we set for ourselves, and I am pleased with the dedicated effort
demonstrated by the entire company to achieve these results,” Dr.
CEO of China Sunergy, remarked. ”We have experienced a steady monthly
improvement in our operational and financial performance during the quarter,
and I am looking forward to discussing our progress and challenges in more
detail during the upcoming earnings period.”
As these selected estimated results are subject to the finalization of the
Company’s financial closing procedures, the Company’s actual results may
differ from its current estimates. China Sunergy plans to report its full
second quarter 2009 results in late
finalized a press release announcing the date and details of the second
quarter conference call will be issued.
About China Sunergy Co., Ltd.:
China Sunergy Co., Ltd. (NASDAQ: CSUN) (“China Sunergy”) is a specialized
manufacturer of solar cell products in
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. For
more information please visit http://www.chinasunergy.com .
For further information contact:
Peter Schmidt
Financial Dynamics
Email: peter.schmidt@fd.com
Tel: +86-10-8591-1953
Safe Harbor Statement
This announcement contains forward-looking statements within the meaning
of the safe harbor provisions of the Private Securities Litigation Reform Act
of 1995. All statements other than statements of historical fact in this
announcement are forward-looking statements. These forward-looking statements
and are based on current expectations, assumptions, estimates and projections
about the company and the industry, and involve known and unknown risks and
uncertainties, including but not limited to, the company’s ability to raise
additional capital to finance the company’s activities; the effectiveness,
profitability, and the marketability of its products; the economic slowdown in
selling prices of the company’s products, the future trading of the common
stock of the company; the ability of the company to operate as a public
company; the period of time for which its current liquidity will enable the
company to fund its operations; the company’s ability to protect its
proprietary information; general economic and business conditions; the
volatility of the company’s operating results and financial condition; the
company’s ability to attract or retain qualified senior management personnel
and research and development staff; future shortage or availability of the
supply of raw materials; impact on cost-competitiveness as a result of
entering into long-term arrangements with raw material suppliers and other
risks detailed in the company’s filings with the Securities and Exchange
Commission. The company undertakes no obligation to update forward-looking
statements to reflect subsequent occurring events or circumstances, or to
changes in its expectations, except as may be required by law. Although the
company believes that the expectations expressed in these forward looking
statements are reasonable, they cannot assure you that their expectations will
turn out to be correct, and investors are cautioned that actual results may
differ materially from the anticipated results.
SOURCE China Sunergy Co., Ltd.