Solarfun Provides Updated 3Q 2009 Business Outlook
September 17 2009 - 7:56AM
PR Newswire (US)
SHANGHAI, Sept. 17 /PRNewswire-FirstCall/ -- Solarfun Power
Holdings Co., Ltd. ("Solarfun" or "the Company") (NASDAQ:SOLF), a
vertically integrated manufacturer of silicon ingots and
photovoltaic (PV) cells and modules in China, today provided an
update on its outlook for the third quarter of 2009. For the third
quarter of 2009, Solarfun estimates: -- Total module shipments will
exceed 100 MW -- Total revenues will be between RMB918 million and
RMB984 million -- Gross margin will be approximately 17% Peter Xie,
President of Solarfun, commented, "The third quarter of 2009 is
progressing well. Our order patterns are strong as we are seeing an
improvement in end market demand. Our efforts to realign supply
costs to reflect current market pricing combined with our increase
in production capacity at our in-house ingot and wafer
manufacturing facilities should allow us to achieve healthy margins
in the third quarter. We continue to face a highly competitive
pricing environment, but we remain fully confident in our ability
to win business as market demand recovers." The selected estimated
results mentioned above for the third quarter of 2009 are
preliminary and are subject to the completion of the Company's
normal quarter-end review process. The Company's actual results may
differ from these estimates. Safe Harbor Statement This press
release contains forward-looking statements. These statements
constitute "forward-looking" statements within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended, and as
defined in the U.S. Private Securities Litigation Reform Act of
1995. These forward-looking statements include third quarter 2009
estimates for revenues, PV module shipments and gross margin.
Forward-looking statements involve inherent risks and uncertainties
and actual results may differ materially from such estimates
depending on future events and other changes in business climate
and market conditions. Solarfun cautions investors that actual
results may differ materially from the anticipated results.
Solarfun disclaims any obligation to update or correct any
forward-looking statements. About Solarfun Solarfun Power Holdings
Co., Ltd. manufactures ingots, PV cells and PV modules, and
provides PV module processing services to convert PV cells into PV
modules. Solarfun produces both monocrystalline and
multicrystalline silicon cells and modules. Solarfun sells its
products both through third-party distributors, OEM manufacturers
and directly to system integrators. Solarfun was founded in 2004
and its products have been certified to meet TUV and UL safety and
quality standards. SOLF-G http://www.solarfun-power.com/. For
further information, please contact: Solarfun Power Holdings Co.,
Ltd. Paul Combs V.P. Strategic Planning 26F BM Tower 218 Wusong
Road Shanghai, 200080 P. R. China Tel: 86-21-26022833 / Mobile: 86
138 1612 2768 E-mail: Christensen Kathy Li Tel: 480 614 3036
E-mail: Roger Hu Tel: 852 2117 0861 E-mail: DATASOURCE: Solarfun
Power Holdings Co., Ltd. CONTACT: Paul Combs, V.P. Strategic
Planning of Solarfun Power Holdings Co., Ltd., 86-21-26022833,
Mobile, 86 138 1612 2768, ; or Kathy Li, +1-480-614-3036, , or
Roger Hu, 852 2117 0861, , both of Christensen, for Solarfun Power
Holdings Co., Ltd. Web Site: http://www.solarfun-power.com/
Copyright