subject: Euro Big Hedge Diving Pv Industry Survive - Solar, Pv, Euro - Solar Industry [print this page] Six months, the euro exchange rate selected by the "10 prefix" fall into the "8 prefix", 80% of the market in the European PV industry in China, the euro became the first victim. Greek sovereign debt crisis has worsened the euro rate, six months, the euro depreciated against the yuan over 16%. Zhu Liang, executive vice president of LDK
Zevi Paul told reporters on the China Securities Journal, has been the domestic photovoltaic industry, the market mainly in Europe, the polysilicon material prices and exchange rates are the two issues, the current stability in polysilicon prices, depreciation of the euro as the first big problem. It does bring a relatively large photovoltaic business impact, the company adopted a means of hedging the hedge to avoid losses.
Euro preparedness scale enterprises have The actual exchange rate change issues is not new for the photovoltaic business. The global financial crisis in 2008, the entire photovoltaic enterprises have personal experience of the exchange rate of lethality. About 98% of PV companies are in foreign markets, products are mainly exported to Europe, the United States, Spain, Japan and other countries. From the beginning of June that year within 3 months of the euro against the U.S. dollar fell more than 21% devaluation of the yuan faster.
PV companies in China are mostly export contracts in euros, so this wave of exchange rates, the loss of a great product at a lower end of the industry chain will also be faced with end-market demand directly to the test. This decline means that for every 100 million euros in revenue through the exchange, the loss amounted to 210 thousand yuan.
2010, the history repeated. As of last week, the euro-dollar exchange rate closed at 1.23 U.S. dollars, fell to the lowest point in 18 months. If you bought in December last year, foreign exchange assets of 10,000 was equivalent to RMB 10.3 million euro now this is only equivalent to more than 85,000 yuan, nearly 18 thousand yuan straight loss.
Suntech notice quarter of this year, said the first quarter of this year, Suntech's exchange rate losses 2400-25000000 US dollars or so. Through the use of hedging instruments, the Company, and recovering two million -300 million in losses. In order to reduce the depreciation of the euro weak pressure in the second quarter of this year has extended the euro hedge ratio to 50%.
Artus (China) Investment Co., Ltd. relevant person in charge told the media: "A quarter exchange loss is very big for us." Although he did not disclose specific figures, but according to the size of Artus, exchange rate losses will reach millions of dollars.
Zhu Liang Bao told reporters on the China Securities Journal, the company uses financial instruments to hedge a proportion of the euro contracts to minimize exchange rate risk. Zevi LDK actually belong in the industry are more experienced company to avoid exchange rate risk. Paul said Zhu Liang, Zevi LDK emphasis on adjusting the deployment of different currencies. Another leading enterprises
Trina Solar Chairman and CEO, who also expressed high-century the same meaning: "the risk of exchange rate issues are really quite prominent, a great impact on the industry, but we have a team to operation on behalf of the potential risks of hedge exchange rate, so little impact on the company. "
