Depreciation Of The Euro Losses For The Domestic Photovoltaic Enterprises

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"Due to the euro, we exchange the first quarter loss of about 25 million U.S. dollars, Canadian Solar is 18 million U.S. dollars, the domestic photovoltaic company may total billions of dollars in revenue evaporated." Suntech Power Co., Ltd. (STP.NYSE, hereinafter referred to as "Suntech"), a high-rise yesterday, told reporters by telephone.

Production of PV cells in China accounted for more than 40% global share, while 90% of domestic products exported to Europe, the euro exchange rate of continuous dive, a tremendous impact on Chinese companies.

Newspaper from Rio Nisshin can (002218.SZ), Changzhou 100 000 000 Electronic Optical and other companies understand that they are taking a variety of methods, such as hedging, hedging, and diversification Sell And so on, to reduce losses.

Serious exchange losses Topsolar Green Energy General Manager Zhu Yuanhao told reporters after Christmas last year, the euro depreciated, "At that time the euro exchange rate of RMB is 1:10.2, it is 1:8.3,5 months, the yuan fell against the euro by about 20%, very severe. "

He said: "now than in 2008, fairly good, very good sales of PV modules, greater demand in Europe, even if the enterprise is in stock, is also bullish on the stock. But when the bank is not the end of 2008 to the PV power plant financing, and component plants both can not be sold, and the continuous depreciation of the inventory is increasing. "

Present, 125 mm diameter price of PV modules in Europe, about 1.4 euro / watt, compared to January 2009 is 40%. "Count down the exchange rate of 20%, corporate profits are still some." Zhuyuan Hao said.

However, the losses caused by exchange is undoubtedly enormous. Suntech's senior who said the first quarter is estimated at 25 million U.S. dollars exchange losses of about Artus's loss is 18 million U.S. dollars. Extension board secretary Liu Qiang Nisshin can also told reporters that the report of the first quarter of this year also disclosed some financial cost is a manifestation of exchange losses, "about 200 million to 3 million yuan."

"Changzhou Tianhe, JA, Yingli exchange losses and other companies do not know, it is estimated the industry because of the euro and evaporated Shangyimeiyuan income." Senior who said Suntech. China Merchants Securities researcher Liu Sheng Wang

that Shangyimeiyuan loss may also more conservative forecast, "China's battery production in 2009 of about 4100 MW, 700 MW Suntech is about 17%. Suntech loss of 25 million U.S. dollars, the overall exchange loss should be far more than 100 million U.S. dollars. "

Zhuyuan Hao told reporters, as euro exchange rate plummeted, the market has been hot cold, "a long-term impact is that the future of Europe, whether the number of station building will shrink as a result of the exchange rate down."

He explained that the current power station investors face a double challenge: on July 1 this year, the PV power plant in Germany will fall 15% subsidy; the other hand, if the euro exchange rate of RMB to continue diving, China's exports of components prices will in turn increase the cost of PV power plant construction will be directly raise the yield is also lower, "Before, the rate of return of a power station may be 10%, now reduced a lot. because of investor enthusiasm for building power stations will be cool . "

Hedging to minimize losses

To reduce the impact of exchange rate fluctuations, companies are in preparation. Artus, extension, and wafer, cell and Nisshin can choose to use the forward exchange settlement and hedging operations.

by: wowo

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