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JETION Holdings - noch ein chinesisches PPVX-Mitglied - 500 Beiträge pro Seite


Ist bereits im Juli an den AIM in London gegangen.

Umsatz 2006: ca. 45 Mio USD, etwa 10% Umsatzrendite.

Wie fast alle anderen Chinesen wollen Sie integrierter Hersteller sein.

Wichtige Lieferanten Yingli, Jiangyin Hairun, Zhangjiagang Sunlink, ZheJiang Yuhui, Jiangsu Shunda.... schon mal was von denen gehört??? :cool:

Halbjahreszahlen sind für den 17.9. angekündigt.

Bis denne...
Jetion in a nutshell, siehe posting 16 in Thread:

http://www.wallstreet-online.de/dyn/community/thread.html?th…

JETION HOLDINGS LTD.

WKN: A0MWQ8 ISIN: VGG5113P1009

Mehr Infos: Evtl. ein Artikel über Jetion englischen PHOTON (Ausgabe August) ???

Webseiten:
Jetion China http://www.jetion.com.cn

Jetion Europe http://www.jetion.biz

Daten:
"Collins Stewart expects net income of $11m in 2007, rising to $18m in 2008 and $32.2m in 2009 once the company has increased its capacity. This puts Jetion on a PE ratio of 21 times for this year falling to 13 times in 2008 and 7.4 times in 2009 when full production starts. (bei Emissionspreis von 153 pence).

Zahlen: Mitte September


Seit dem 06.07.07 im PPVX:
--------------
Aachen (9.7.07): In den PHOTON Photovoltaik-Aktien Index PPVX wurde am 6.7. 2007 die Aktie der Jetion aufgenommen, meldet Max Demel. (...).

Der internationale PHOTON Photovoltaik-Aktien Index (PPVX) enthält mit der seit 6. Juli 2007 an der Börse London (AIM) notierten Jetion (www.jetion.com.cn, ISIN VGG5113P1009) das 10. Unternehmen aus China. Da der Index auf 30 Titel begrenzt ist, fällt die mit einem Börsenwert von weniger als 145 Millionen Euro kleinste Firma, die deutsche Centrosolar Group AG, aus dem PPVX.

Die im März 2005 gegründete Jiangyin Jetion Technology Co. Ltd. produziert seit Ende 2005, als die erste 25-Megawatt-Produktionslinie in Betrieb ging, Solarzellen auf Siliziumbasis sowie Module. Bis 2008 will man die jährliche Zellproduktion von derzeit zwei auf vier Linien mit insgesamt 100 Megawatt verdoppeln. Zum Jetion-Führungsteam gehören u.a. Dipesh Shah, der frühere Chef von BP Solar International bzw. der britischen Atomenergiebehörde, und CEO Lijin Gai, der früher Direktor bei Suntech Power war. Das rund 300 Mitarbeiter zählende Unternehmen mit Sitz in Jiangyin bei Shanghai hat 25,16 Millionen Aktien (davon rund 4,9 Millionen Stück aus Altaktionärsbesitz) zum Preis von 151 Pence platziert. Das profitabel arbeitende Unternehmen ist - bei rund 74,21 Millionen Aktien und einem Schlusskurs von 153 Pence mit rund 168 Millionen Euro bewertet



Von der Webseite:

"Dipesh J. Shah (OBE) (FRSA) (aged 54) Chairman
Mr. Shah was appointed the Chairman of the Group with effect from Admission and chairs the Nomination Committee. Mr. Shah has had a distinguished career with BP and Shell-Mex between 1974 and 2002 with eleven years within the BP Group Leadership, including six years as the CEO and Managing Director of BP Solar International, which he developed into a leading integrated solar energy company worldwide. During this period, he was also elected Chairman of the European Photovoltaics Industry Association for four years. Mr.Shah was the Chairman of Viridian Group Plc (FTSE 200 utility with a market cap of over ?1.6 billion), until its sale at the end of 2006, and the CEO of the UK Atomic Energy Authority. He is Advisory Chairman of HG Capital Renewable Power Partners LLP and a non-executive director and Chairman of the remuneration committee of Babcock International Group Plc (FTSE 250 company with a market cap of approximately ?1.2 billion). Mr. Shah was a member of the UK Government’s ‘Renewable Energy Advisory Committee’ between 1994 and 2002. Mr. Shah was educated at Warwick University, London University and attended the Management Program at Harvard Business School. Mr. Shah was appointed an ‘Officer of the Order of the British Empire’ in the New Year honours in 2007 and is a life fellow of the Royal Society of Arts.

Lijin Gai (aged 47) Chief Executive Officer
Mr. Gai has been with the Group since its beginnings and brings over twenty-five years of experience in manufacturing industry. He is currently the CEO of the Group and is responsible for its day-to-day operations. Mr. Gai has significant senior management level experience in both sales and manufacturing for large scale China based public companies and was a member of the board of directors of Wuxi Suntech Power Co., Ltd. Mr. Gai holds an MBA degree from the China Europe International Business School."

"Company Objective

For 2007:
The actual output of solar cells will reach 50MW.
The capacity of solar cell components capsulation reaches 25MW.
The capacity of Silicon cutting reaches 5MW.
For 2008:

The actual output of photovoltaic solar cells will reach 100 MW.
The capacity of solar cell components capsulation reaches 80MW.
The capacity of Silicon cutting reaches 40MW.
For 2009:

The actual output of photovoltaic solar cells will reach 150 MW.
The capacity of solar cell components capsulation reaches 100MW.
The capacity of Silicon cutting reaches 60MW."


Ab hier nur meine Meinung:
Da in China täglich zum Teil 100000 Depots eröffnet werden, und da m.E. dort reine Aktienhype regiert, sind China-Aktien derzeit als sehr hoch bewertet anzusehen und es wird ja auch oft davon abgeraten, sich derzeit in China zu involvieren.

Allerdings dürfen die Chinesen (ausser jetzt die eine oder andere chin. Investmentbank) nicht an ausländischen Börsen investieren.

M.E. daher der Vorteil bei Jetion: Die sind an der Londoner AIM gelistet und waren daher vom chin. Aktienhype ausgeschlossen. Die Engländer stehen Solar noch kritisch gegenüber und sind bei der Immo-Kreditkrise aus allem rausgegangen, was denen unsicher vorkam, die Kombi China und Solar gehörte u.a. dazu.

So ergaben sich m.E. die letzten Wochen Aktienkurse bei Jetion, die m.E. unter 130 pence zu einem sehr günstig bewerteten Solarunternehmen in einem Wachstumsmarkt führten.

Habe mir daher nen Haufen Jetion unter 130 pence gegönnt und schon einige Male darauf hingewiesen, interessiert bei WO aber keinen ;) ?

Beim jetzigen Kurs kaufen ? Das muss jeder selber basierend auf eigenen Recherchen entscheiden.

PS: Wer hat denn da heute 10 Lünkerstücke gekauft, etwa meinolf ;) ?
"Tan notes today that the solar cell business has been limited to date by the shortage of polysilicon, the raw material used to make photovoltaic materials. But UBS is forecasting that the supply of polysilicon will quadruple from 2007 to 2010. He thinks that will be good news for many producers of silicon wafers and modules, and in particular asserts that production could be dominated by Chinese producers."

http://blogs.barrons.com/techtraderdaily/2007/09/07/ubs-picks-up-asian-solar-stocks-starts-ldk-solar-suntech-yingli-with-buy-ratings/
Immediate Release 24 September 2007


Jetion Holdings Limited

(Jetion Company)


Maiden Interim Results

Jetion Holdings Limited (AIM:JHL), the manufacturer of solar cells and modules,
today announces its maiden interim results for the six months ended 30 June 2007
(the "Results").

Operational Highlights

* Second production line installed in March 2007 and commissioned in May 2007

* 100% increase in cell manufacturing capacity from 25MW to 50MW per annum

* Purchase and installation of silicon wafer slicing equipment to expand
position in value chain and improve margins

* 71.6% of sales exported (2006: 4.6%)

* Immediately after the period end - successful fund raising and Admission
to AIM

* Significant strengthening of Board in preparation for the IPO

Financial Highlights

* 149% increase in turnover to US$38.6m (2006: US$15.5m)

* 88% increase in gross profit to US$5.2m (2006: US$2.8m)

* 90% increase in net profit to US$3.6m (2006: US$1.9m)

* Fund raising and IPO, raised #27.9m for the Company, net of expenses,
in July 2007

Commenting on the Results, Dipesh Shah, Chairman said:

"The progress of Jetion in the period underlines the robust demand for solar
products globally. Jetion has successfully increased its production capacity,
and following the IPO and raising of new funds the Company is on track to double
its capacity again by the end of 2008."

"We look to the future with confidence. The Company is positioned to
continue to grow its underlying value for its shareholders."

For further information please contact:

Jetion Holdings Limited 020 7466 5000
(today)
Dipesh Shah, Chairman

Collins Stewart Europe Limited 020 7523 8000
Adrian Hadden
Adam Cowen

Buchanan Communications 020 7466 5000
Mark Edwards
Ben Willey
Christian Goodbody

CHAIRMAN'S STATEMENT

I am pleased to report the maiden interim results of the Company following its
admission to trading on AIM on 6 July 2007.

The Results for the first half of 2007 are encouraging and provide a signpost
for the Company's ambitious growth plans. For the half year, sales revenues
increased by 149% from US$15.5m (2006) to US$38.6m (2007); the corresponding
gross profit increased from US$2.8m (2006) to US$5.2m (2007) and profit after
taxation increased by 90%, from US$1.9m (2006) to US$3.6m (2007). Furthermore,
the Company generated cash from operations of US$2.6m.

During the period, the Company achieved several major milestones. It
successfully commissioned a second solar cell manufacturing line in May 2007,
thereby doubling its cell manufacturing capacity from 25MW to 50MW per annum.
In June 2007, the Company also installed equipment to slice silicon ingots into
silicon wafers for the first time. In addition, the Company continued to
develop its capacity to convert cells into modules; at the end of June, module
manufacturing capacity stood at some 20MW per annum.

These initiatives have been designed to underpin both the Company's supply
chain and its margins and over time to offer additional value-added facilities
for its customers. At a time when the organisation was heavily committed to the
IPO process, it is worth noting that the scheduled plans for the Company's
expansion were implemented successfully.

Furthermore, the Company has continued to grow its export business which
accounted for approximately 71.6% of sales, compared with a modest 4.6% of sales
for the corresponding period of 2006 when the operations were at an early stage.

On 6 July 2007, Jetion was admitted to trading on AIM. This followed the
placing of new ordinary shares in Jetion by Collins Stewart. The Company raised
#27.9m of net new funds, which will be used to further expand its cell
manufacturing capacity to 100MW per annum by the end of 2008; to continue to
augment its module and wafer capacity; to finance additional working capital
associated with its plans for growth; to consolidate and extend its global reach
in terms of markets; and to strengthen its research and development capability.

Jetion is committed to extensive training of its employees, across a broad range
of technical, engineering and research and development skills, achieved by the
rotation of staff through the disciplines. During the first half of 2007, the
Company recruited three additional experts in the People's Republic of China
to join our research and development team as consultants.

OUTLOOK

The Company continues to progress well towards its growth targets. The second
cell line (25MW per annum capacity) is performing well and the Company has
further increased capacity since the middle of the year for the conversion of
cells into modules.

In addition, discussions with suppliers of equipment for the third and fourth
cell lines are at an advanced stage and the Company remains on course to expand
cell manufacturing capacity to 100MW per annum by the end of 2008, as indicated
at flotation.

The Company has also established a relationship with European partners, subject
to PRC Government approval, which will strengthen its footprint in the rapidly
growing European market. TUV accreditation, a recognised independent European
quality mark, of Jetion modules has been obtained and this will further benefit
direct exports of Jetion products into Europe.

In an environment where the global supply of silicon ingots and wafers has
struggled to meet the growing demand for them, the Company has experienced some
cost inflation for its principal raw material, the silicon wafer, since the
middle of the year. To mitigate this pressure and to further reinforce the
security of supply of quality wafers, the Company has negotiated new contracts
with two of its existing main suppliers of wafers which are at a discount to
current prices. These cover some 90MW of production, and underpin the Company's
growing requirements for both volume and quality over the next three years.
These arrangements will benefit operations starting in September 2007.

In July, a change in legislation in the PRC lowered the tax rebate on export
sales from 13% to 5%, for certain products. One of our customers is impacted by
this and the contract for manufacturing cells for the customer has been revised
to a tollgate arrangement whereas previously the cells were exported to the
customer. The new arrangement will lower revenues to Jetion, however its impact
on profit from the contract will be negligible, if any.

The Company is converting a growing proportion of its cells into modules which
will uplift revenues and margins.

The Company has responded rapidly to the external cost pressures as well as
legislative changes. Overall, the Board believes that the full year results
will be broadly in line with market expectations.

I am pleased to lead a Board which has a blend of experience of international
operations and of publicly quoted companies. The Board is confident that the
outlook for Jetion remains favourable and that the underlying value of the
Company for shareholders will continue to grow.

I would like to thank the executive management and staff in the Company as well
as my colleagues on the Board and our shareholders for their contribution and
support over the past few months.

Dipesh J. Shah, OBE, Chairman

FINANCIAL REVIEW

For the six months ended 30 June 2007, the Company continued to expand its
operations with the installation of a second production line, giving a maximum
annual production capacity of 50 MW.

At the same time, exports increased dramatically to US$27.7m (2006: US$0.7m) or
71.6% (2006: 4.6%) of total sales for the period.

Turnover reached US$38.6m (2006: US$15.5m), an increase of 149% over the
corresponding period last year. During the period, the aggregate turnover
attributable to the Company's five largest customers approached 90% of the
Company's total turnover. Gross profit in the period totalled US$5.2m (2006
: US$2.8m) representing 13.4% of turnover. (2006: 17.7%).

Administrative expenses for the six months ended 30 June 2007 were US$0.7m
(2006: US$0.5m), an increase of 37.3%, as the Company prepared for growth. For
the same reason operating expenses for the six months ended 30 June 2007 were
US$0.25m (2006:US$0.08m). Also finance costs increased by US$0.38m to US$0.66m
(2006: US$0.28m) due to growing sales and the need for additional working
capital.

Net profit for the period amounted to US$3.6m (2006: US$1.9m), an increase of
90% over the corresponding period of 2006.

During the period, the Company incurred capital expenditure of approximately
US$1.5m on the development and expansion of the production plants located in the
People's Republic of China.

The Company acquired additional plant and machinery at a cost of approximately
US$4.7m (2006: US$1.2m) for the expansion of existing and new production
facilities. Details of these and other movements in the property, plant and
equipment of the Company during the period are set out in note 7 to the interim
results.

The Company has entered its final year of the 100% profits tax exemption
concession scheme available to a wholly foreign owned enterprise. For fiscal
years 2008 to 2010, the Company's profits will be subject to 12.5% tax rate,
after which the Company will be subject to the full profits tax rate of 25%.

Subsequent to the balance sheet date, the Company has successfully listed on AIM
and raised total net proceeds of #27.9m to be deployed as set out in the
Chairman's Statement.

.

JETION HOLDINGS LIMITED

CONSOLIDATED INCOME STATEMENT

Six months Six months Year
ended ended ended
30 June 30 June 31 December
2007 2006 2006
(Unaudited) (Unaudited) (Unaudited)
Note US$ ('000) US$ ('000) US$ ('000)

Revenue 4 38,645 15,544 45,454

Cost of sales (33,466) (12,792) (38,770)
________ ________ ________

Gross profit 5,179 2,752 6,684

Other income 39 12 80
Administrative expenses (684) (498) (905)
Operating expenses (248) (78) (183)
Finance costs 5 (655) (273) (705)
________ ________ ________

Profit for the period 3,631 1,915 4,971
======== ======== =======

Earnings per ordinary share
Basic and diluted 6 US$985 US$21,517 US$55,854
======= ======= =======

CONSOLIDATED BALANCE SHEET

30 June 30 June 31 December
2007 2006 2006
(Unaudited) (Unaudited) (Unaudited)
Note US$ ('000) US$ ('000) US$ ('000)
Non-current assets
Property, plant and equipment 7 10,557 5,209 6,125
Construction in progress 8 2,139 996 631
Intangible assets 9 1,792 1,281 1,766
_________ _________ _________
14,488 7,486 8,522
_________ _________ _________
Current assets
Stocks 6,681 5,815 3,818
Accounts receivables 2,311 1,404 3,296
Other receivable 481 740 398
Payment in advance 6,666 9,185 7,067
Tax refundable 2,321 14 -
Cash and cash equivalents 4,861 1,334 3,946
_________ _________ _________
23,321 18,492 18,525
Current liabilities
Accounts payable 2,532 960 932
Receipt in advance 76 5,439 1,065
Other payables 5,266 2,849 6,539
Accrued expenses 3 1 2
Tax payable - - 51
Short-term loan 14,382 10,268 12,588
Shareholders' advance 10 990 - 1,000
_________ _________ _________
23,249 19,517 22,177

Net current (liabilities) /
assets 72 (1,025) (3,652)

Long term liabilities
Convertible loan 11 5,000 - -
_________ _________ _________
Net assets 9,560 6,461 4,870
======== ======== ========

Capital and reserves
Called up share capital 12 10 4,947 1
Exchange reserve 1,391 40 341
Retained earnings 8,159 1,474 4,528
__________ __________ _________
Total shareholders' funds 9,560 6,461 4,870
========= ========= ========

The interim report was approved by the Board of Directors on 22 September 2007.

Dipesh Shah, OBE

Chairman

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

Accumulated
Share Exchange Profits /
Capital Reserve (Losses) Total
US$ ('000) US$ ('000) US$ ('000) US$ ('000)

Balance as at 1 January
2007 1 341 4,528 4,870

Exchange differences
arising on translation of
foreign operations - 1,050 - 1,050

Issuance of new shares by
parent company 9 - - 9

Profit for the period - - 3,631 3,631
________ ________ ________ ________
Balances as at 30 June
2007 10 1,391 8,159 9,560
======= ======= ======= =======

CONSOLIDATED CASH FLOW STATEMENT

Six months Six months Year
ended ended Ended
30 June 30 June 31 December
2007 2006 2006
(Unaudited) (Unaudited) (Unaudited)
US$ ('000) US$ ('000) US$ ('000)

CASH FLOWS FROM OPERATING ACTIVITIES
Profit before taxation 3,631 1,915 4,971
Adjustments for:
Depreciation and amortisation of
property, plant and equipment 440 237 546
Amortisation of intangibles 18 13 41
_________ _________ _________

Operating cash flows before
movements in working capital 4,089 2,165 5,558

(Increase) / in inventories (2,826) (5,307) (3,268)
Decrease / (Increase) in trade and
other receivables 1,563 (5,609) (4,970)
Increase / (Decrease) in trade
payables 1,580 396 376
(Decrease) / Increase in other
payables (1,790) 6,432 265
_________ _________ _________

Cash generated from operations 2,616 (1,923) (2,039)

Tax refundable (2,320) 23 37
Tax payable (51) - 50
_________ _________ _________

Net cash from operating activities 245 (1,900) (1,952)

CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of property, plant and
equipment (4,683) (1,218) (2,442)
Increase in Construction in progress (1,508) 184 76
Intangible assets - - (514)
_________ _________ _________

Net cash used in investing
activities (6,191) (1,034) (2,880)

CASH FLOWS FROM FINANCING ACTIVITIES
Movement in short-term borrowings 1,793 4,057 6,292
Movement in shareholders' advances (9) - 1,000
Paid-up share capital 9 - -
Proceeds from long term borrowings 5,000 - -
_________ _________ _________

Net cash used in financing
activities 6,793 4,057 7,292

NET INCREASE IN CASH AND CASH
EQUIVALENTS 847 1,123 2,460
Cash and cash equivalents at
beginning of the period 3,946 685 685
Effect of foreign exchange rate
changes 68 (474) 801
_________ _________ _________
Cash and cash equivalents at the end
of the period 4,861 1,334 3,946
======== ======== ========

NOTES TO THE UNAUDITED INTERIM REPORT

1. General

The Company was incorporated on 18 July 2006 in the British Virgin Islands (BVI)
and its wholly owned subsidiary, Sino China International Limited, in turn holds
100% of Jiangyin Jetion Science and Technology Company Limited ("Jiangyin
Jetion") whose principal activities are research and development, manufacture
and sales of hi-tech solar cells.

The comparative information presented for the six month period ended 30 June
2006 consists of the results and position of the subsidiary company, Jiangyin
Jetion, only.

2. Accounting policies

The interim financial information has been prepared on the basis of
International Financial Reporting Standards (IFRS) as adopted by the European
Union. Full details of accounting policies will be included in the Annual
Report for the year ending 31 December 2007. These are expected to be
consistent with those disclosed in Part III "Financial Information on the
Group" of the Company's Admission document dated 3 July 2007 for its placing
and admission to AIM.

Items included in the consolidated financial statements of the Company are
presented in US Dollars ("Presentation Currency").

Consolidation

The consolidated financial statements incorporate the financial statements of
Jetion Holdings Limited and all subsidiary undertakings. Balances between Group
companies are eliminated and no profit is taken on intra-group sales.

3. Copies of this Interim Report will be sent to all shareholders and are
available at the Company's registered office.

4. Revenue

Revenue represents the aggregate value of goods sold after goods returned and
trade discounts.
Six months Six months Year
ended ended Ended
30 June 30 June 31 December
2007 2006 2006
(Unaudited) (Unaudited) (Unaudited)
US$ ('000) US$ ('000) US$ ('000)

Domestic sales 10,962 14,821 42,470
Export sales outside China 27,683 723 2,984
_________ _________ _________

38,645 15,544 45,454
======== ======== ========

5. Finance costs
Six months Six months Year
ended ended Ended
30 June 30 June 31 December
2007 2006 2006
(Unaudited) (Unaudited) (Unaudited)
US$ ('000) US$ ('000) US$ ('000)

Interest on bank borrowings wholly
repayable within one year 436 267 664
Bank charges 6 6 23
Exchange difference 213 - 18
_________ _________ _________

655 273 705
======== ======== ========

6. Earnings per ordinary share

The basic earnings per ordinary share has been calculated using the profit for
the period and the weighted average number of ordinary shares in issue during
the period as follows

Six months Six months Year
Ended ended ended
30 June 30 June 31 December
2007 2006 2006
(Unaudited) (Unaudited) (Unaudited)
US$ ('000) US$ ('000) US$ ('000)

Profit for the period !V after
taxation 3,631 1,915 4,971
======= ======= =======

Number Number Number
Weighted average number of
ordinary shares of US$1 each 3,688 89 89

Basic earnings per share US$985 US$21,517 US$55,854

7. Tangible fixed assets
Plant and Electronic Motor Office
Building machinery equipment vehicles equipment Total
US$ ('000) US$ ('000) US$ ('000) US$ ('000) US$ ('000) US$ ('000)
Cost
At 1 January
2007 1,387 4,986 170 181 2 6,726
Additions
during the
period - 4,621 8 22 32 4,683
Currency
realignment 35 126 4 4 - 169
_________ _________ _________ _________ _________ _________
At 30 June 2007 1,422 9,733 182 207 34 11,578
_________ _________ _________ _________ _________ _________
Aggregated depreciation
At 1 January
2007 44 489 21 45 - 599
Charges for
the period 36 371 20 20 2 449
Currency
realignment 1 (27) - - (1) (27)
_________ _________ _________ _________ _________ _________
At 30 June 2007 81 833 41 65 1 1,021
_________ _________ _________ _________ _________ _________
Net book value
At 30 June 2007 1,341 8,900 141 142 33 10,557
======== ======== ======== ======== ======== ========
At 30 June 2006 581 4,421 74 132 1 5,210
======== ======== ======== ======== ======== ========
At 31 December
2006 1,342 4,497 149 135 1 6,125
======== ======== ======== ======== ======== ========

8. Construction in progress

Construction assets in progress relate to new buildings for warehouses, new
production lines and administration offices which had not been brought into use
at the balance sheet date.

9. Intangible fixed assets
Six months Six months Year
ended ended Ended
30 June 30 June 31 December
2007 2006 2006
(Unaudited) (Unaudited) (Unaudited)
US$ ('000) US$ ('000) US$ ('000)

Land use rights 1,857 1,299 1,811
Less: Accumulated amortisation (63) (18) (44)
Currency realignment (2) - (1)
_________ _________ _________

1,792 1,281 1,766
======== ======== ========

The land use rights cover land situated in the PRC.

10. Shareholder's advance

Shareholder's advance carries no specific terms of repayment and is
non-interest bearing.

Six months Six months Year
ended ended Ended
30 June 30 June 31 December
2007 2006 2006
(Unaudited) (Unaudited) (Unaudited)
US$ ('000) US$ ('000) US$ ('000)
Name of shareholder
Jiezhen Yang 990 - 1,000

11. Convertible loan

On 26 April 2007, the Company executed a convertible note instrument in the
amount of US$5,000,000 with Sun Power Capital Limited. The principal terms of
the convertible loan note were as follows:

Duration of note: three years commencing 26 April 2007

Interest: 5 per cent per annum

Conversion terms included the automatic conversion into Ordinary Shares upon a
public offer of Shares on a Recognised Stock Exchange (including AIM).
Conversion of the note duly took place on 6 July 2007 upon the Company's
Admission to AIM.

12. Share capital

As set out in note 1, the figures for the period to 30 June 2006 cover Jiangyin
Jetion only and are not consolidated. Consequently, the share capital at 30
June 2006 is the share capital of Jiangyin Jetion only.

13. Related party transactions

During the period ended 30 June 2007, a shareholder advanced a lump sum directly
to a company in which Chris Chen is a director, for preliminary payment of
professional fees. As at the balance sheet date, the total amount of payments
made on behalf of the Company by the related party toward the anticipated IPO
expenses was US$278,690.

14. Post balance sheet events

On 6 July 2007 trading in the ordinary shares of the Company commenced on AIM, a
market operated by the London Stock Exchange plc. 20,198,676 new shares were
issued in a placing at the placing price of 151pence per share. On Admission
the Company had 74,209,676 ordinary shares in issue.

GROUP INFORMATION

Directors Dipesh Shah (Chairman)
Lijin Gai (Chief Executive Officer)
Stephen So (Finance Director)
Chris Chen (Corporate Development Director)
Wenyan Xu (Chief Operating Officer)
David Steeds (Non-executive Director)
Gabriel Kow (Non-executive Director)

Principal Place of Business No. 1011, Zhencheng Road
Shengang
Jiangyin Municipality, Jiangsu Province
People's Republic of China

Registered office The offices of ATC Trustees (BVI) Limited
2nd Floor, Abbott Building
Road Town
Tortola
British Virgin Islands

Company secretary Stephen So

Nominated Adviser Collins Stewart Europe Limited
8th Floor
88 Wood Street
London EC2V 7QR

Auditors UHY Hacker Young LLP
St Alphage House
2 Fore Street
London EC2Y 5DH

Solicitors Hammonds
7 Devonshire Square
Cutlers Gardens
London EC2M 4YH

Registrars Computershare Investor Services (Channel Islands) Ltd
P O Box 83
Ordnance House
31 Pier Road
St Helier
Jersey JE4 8PW

INDEPENDENT REVIEW REPORT BY THE AUDITORS

TO JETION HOLDINGS LIMITED

Introduction

We have reviewed the accompanying balance sheet of Jetion Holdings Limited as of
30 June 2007 and the related statements of income, changes in equity and cash
flows for the six month period then ended, and a summary of significant
accounting policies and other explanatory notes. Management is responsible for
the preparation and fair presentation of this interim financial information in
accordance with the AIM regulations. Our responsibility is to express a
conclusion on this interim financial information based on our review.

Scope of Review

We conducted our review in accordance with International Standard on Review
Engagements 2410, "Review of Interim Financial Information Performed by the
Independent Auditor of the Entity". A review of interim financial information
consists of making inquiries, primarily of persons responsible for financial and
accounting matters, and applying analytical and other review procedures. A
review is substantially less in scope than an audit conducted in accordance with
International Standards on Auditing and consequently does not enable us to
obtain assurance that we would become aware of all significant matters that
might be identified in an audit. Accordingly, we do not express an audit
opinion.

Review conclusion

Based on our review, nothing has come to our attention that causes us to believe
that the accompanying interim financial information does not give a true and
fair view of the financial position of the entity as at 30 June 2007, and of its
financial performance and its cash flows for the six month period then ended in
accordance with the International Financial Reporting Standards (IFRS) adopted
by the European Union.

UHY Hacker Young LLP

Chartered Accountants

Registered auditors

London

22 September 2007
09:37 Jetion Maiden H1 net profit up 90 pct; revenue up 149 pct AFX UK Focus
LONDON (Thomson Financial) - Solar cell maker Jetion Holdings Ltd said its net profit for the first half nearly doubled as revenues surged 149 pct on robust demand for solar products.

For the first six months to end-June, the company's profit increased 90 pct to 3.6 mln usd and revenue jumped to 38.6 mln usd from 15.5 mln usd.

Jetion said it had raised 27.9 mln usd of net new funds which will be used to further expand its cell manufacturing capacity to 100 MW per annum by the end of 2008.

"Jetion has successfully increased its production capacity, and following the IPO and raising of new funds, the company is on track to double its capacity again by the end of 2008," chairman Dipesh Shah said in a statement. tfn.newsdesk@thomson.com sim/faj/bsd
Jetion Holdings says gets TUV accreditation for sale of solar module products

Jetion Holdings Ltd (Nachrichten) said it has received key product accreditation from 'Technischer Uberwachungsverein' (TUV) for the global sale of its solar module products.

The solar cells and modules maker said the accreditation will give it important leverage in its key European market.

Chairman Dipesh Shah said the company is rapidly expanding its production as well as moving into wafer slicing and module manufacture.
Antwort auf Beitrag Nr.: 31.958.857 von TeddyKGB am 12.10.07 17:01:45viertschlechteste ...

Die Tommies stehen Solar und Chinaaktien kritisch gegenüber ... ausser im Suff rumprügeln und prollig rumzupöbeln ist die hohle Masse drüben leider noch nicht auf Solar angesprungen so wie hier :laugh:

Hätten wirklich besser hier gelisted, aber Dipesh Shah ist ja britisch geprägt, wohl daher ...
zusätzliches, Einschätzung zwar schon alt vom 25.09, aber nennt einen der Gründe:

"investors seemed spooked by legislative changes with PRC lowering tax rebates from 13% to just 5% for some products, resulting in a sell off in Jetions shares."

http://lemminginvestor.icontact.com/archives/briefalerts/pos…
"Solar cell maker Jetion Holdings down another 8p at 122p, said its net profit for the first half nearly doubled as revenues surged 149% on robust demand for solar products. However, investors seemed spooked by legislative changes with PRC lowering tax rebates from 13% to just 5% for some products, resulting in a sell off in Jetions shares. These changes have impacted on one of Jetions customers, resulting in contract for manufacturing cells for the customer been revised to a tollgate arrangement whereas previously the cells were exported to the customer. The new arrangement will lower revenues to Jetion, however its impact on profit from the contract will be negligible, if any… more inside"
ressemeldung:
Manz Automation AG und Centrotherm Photovoltaics AG neu im PHOTON Photovoltaik-Aktien Index PPVX
Im PHOTON Photovoltaik-Aktien Index PPVX ersetzen seit dem 12.10.2007 Centrotherm Photovoltaics AG und Manz Automation AG die Firmen Jetion und Solar-Fabrik AG. Nach einer Performance von 14 Prozent im Jahr 2006 liegt der Index dieser Boombranche seit Jahresanfang 2007 mit einem Plus von rund 103 Prozent rund 88 Prozentpunkte vor dem Erdöl-Aktien-Index AMEX Oil (+15 Prozent) und hat nun ein Volumen von rund 70 Milliarden Euro erreicht.

Aachen/Wien, 13.10.07 (photon/oeko-invest):
Der internationale PHOTON Photovoltaik-Aktien Index (PPVX) enthält mit der Centrotherm Photovoltaics AG (ISIN DE000A0JMMN2, www.centrotherm-pv.de) und der Manz Automation AG (ISIN DE000A0JQ5U3; www.manz-automation.de) zwei weitere Hersteller von Solar-Produktionsequipment. Die bis dato einzigen Equipmenthersteller im PPVX – Meyer Burger Technology AG und Roth & Rau AG – gehören mit Kurszuwächsen von 570 Prozent bzw. 456 Prozent zu den stärksten Wachstumstiteln im Index in diesem Jahr.

Da der Index auf 30 Titel begrenzt ist, fallen die mit einem Börsenwert von 122 bzw. 175 Millionen Euro kleinsten Firmen, die chinesische Jetion und die deutsche Solar-Fabrik AG, aus dem PPVX. Die verbleibenden PPVX-Firmen, die zwischen rund 199 Millionen Euro (Aleo Solar AG) und 16,5 Milliarden Euro (REC ASA) wert sind, haben ihren Sitz in China (9), Deutschland (9), USA (6), Taiwan (2), Großbritannien (1), Norwegen (1), Schweiz (1) und Spanien (1). Die Gewichtung der beiden neuen Aktien im Index beträgt anfänglich jeweils rund 2,5 Prozent, entsprechend der Gewichtungsklasse 3 (Marktkapitalisierung zwischen 200 und 800 Millionen Euro).
Antwort auf Beitrag Nr.: 32.002.041 von meinolf67 am 15.10.07 16:41:33ah-so!
:)
merci!

naja centrotherm hab ich ja auch...(Manz leider unter100 verkauft :cry: )

jetion werd ich mal ein 1/2 liegenlassen - erscheinen doch recht günstig gegenüber stp, solf etc.pp
So, ich habe heute an der AIM noch mal nachgelegt und bin nun nur noch 15 % im Minus ... :keks:

Ansonsten: Interessante Meinung zu Jetion

http://investorschamp.blogspot.com/2007/09/jetionaimjhl-good-results-huge-demand.html

http://investorschamp.blogspot.com/2007/09/jetionaimjhl-good…
Ein "bischen" Umsatz heute ...

13:58:32 111,50 10.000 734.028
13:50:43 111,50 896 724.028
13:36:35 110,00 3.316 723.132
13:23:08 110,00 4.462 719.816
13:16:22 111,00 240.000 715.354
13:16:17 111,00 100.000 475.354
13:16:12 111,00 340.000 375.354

12:29:26 110,00 1.000 35.354
11:47:52 111,56 3.500 34.354
11:11:29 110,20 2.333 30.854
10:54:40 110,24 1.000 28.521
10:51:42 110,20 1.127 27.521
10:45:58 110,36 2.000 26.394
10:34:32 110,24 394 24.394
10:09:58 110,00 10.000 24.000 ;)
09:45:50 110,36 3.000 14.000
09:33:36 110,36 1.500 11.000
09:15:38 110,36 3.000 9.500
09:11:03 112,00 2.500 6.500
09:10:53 112,00 2.500 4.000
09:02:18 112,54 1.500 1.500
Antwort auf Beitrag Nr.: 32.043.242 von meinolf67 am 17.10.07 10:28:29Solarworld zu 5,-.....:cry: das ist wirklich bitter...

aber man darf wirklich manchmal nicht überlegen, wo man stände wenn man gewisse Positionen nicht verkauft hätte...:rolleyes:

egal-es zählt hier und jetzt - denke aber auch das Du manchmal ein ganz gutes Händchen hattest...:)

wie ist denn Deine Einschätzung zu LDK?

ich bin im Moment nur etwas vorsichtig dabei...
Antwort auf Beitrag Nr.: 32.043.242 von meinolf67 am 17.10.07 10:28:29wie ist denn Deine Einschätzung zu LDK?:confused: jetzt hab ich meinolf gleich mit LDK im Kopf gehabt...

es sollte natürlich Wie ist denn Deine Einschätzung zu jetion ? heißen...:rolleyes::D
Als Jetion an die Börse kam, wurde JA Solar als Peer für Jetion angesehen, da vergleichbar mit Grösse, Entwicklungsstadium und Produkt(ions)palette ...

Hier mal die Kursentwicklungen beider Firmen zum Vergleich:

Interessanter dreiseitiger Artikel zu Jetion (aber nicht nur deshalb kaufenswert) im Photon-Magazine vom August.

Schon was älter, aber dennoch kann man die Kursentwicklung nach Lesen des Artikels nachvollziehen, es gibt nämlich "einige" Kritikpunkte ...

http://www.photon-magazine.com/archiv/order.aspx?heft=0807&name=PHOTON%20International%202007-08%20August&preis=26,75

http://www.photon-magazine.com/archiv/order.aspx?heft=0807&n…

Was bemängelt wurde ist z.B.:

- es gibt zu einigen für Aktionäre relevanten Fragen kaum oder schlimmer noch wiederstrüchliche Informationen, wie Details zur Produktion oder zur Produktionspallete, Anlagen und Kunden
- wann Shah nun wirklich einstieg,
- das Alter der R&D Leute, etc.
- das Listing an der AIM, an der man nur ein Admission Doc. einreichen muss, aber keinen detaillierten IPO-Propekt, weshalb man dort wohl auch gelisted wurde
- Tochter des grössten Aktionärs ist CFO, dieser hat direkt ins IPO einiges an Aktien verkauft.
- usw.

Es kommt in dem Artikel auch die Frage auf, wie es denn sein kann, dass eine Firma, die bis zum IPO kaum einer "in der Branche" kannte, plötzlich Solarmodule produziert und solch ein IPO hinlegt.
Das Grünberg/Sunlynx JV wurde laut Artikel schon am 04. May unterzeichnet.
Antwort auf Beitrag Nr.: 32.111.995 von HansOhlemasse am 22.10.07 19:02:54Hatte ich vergessen, den Artikel am besten selbst lesen und eigenes Urteil bilden, ich habe nur aus dem Gedächtnis grob einige der Punkte zusammengefasst, ohne Wertung.

Ein Punkt war noch, so ungefähr, was hinter Jetion wirklich steckt, würde man bei den Zahlen sehen, und die waren ja schon ;)
Schau mal im Thread von http://www.iii.co.uk,
die Zahlen sind bei den Anlegern gut angekommen, siehe Analysen dort, es gab auch offiz. Kaufempfehlungen danach ...

JA Solar: von 75 MW auf 450 MW nächstes Jahr, Jetion von 50 auf 100, Nasdaq Anleger heiss auf Solar und China, AIM Anleger eher weniger, Jetion immer noch absolut unbekannt ...
Wenn man dem Kurs nach unten hinterher rennt, muss man aber schnell laufen können. Kaufen-Verkaufen-Zurückkaufen-Verkaufen ...

Werde meine Position in der nächsten Woche verdoppeln und dann entscheiden, wo ich denn den mentalen SL setze ... 98 pence ?
Antwort auf Beitrag Nr.: 32.393.130 von Vinyard am 12.11.07 14:25:57Ich habe an der AIM gestern und heute gekauft und mehr werde ich nicht kaufen. Kurs bis auf KGV 15 runter als Ziel hätte man sich denken können, normale Bewertung heutzutage für kleine (auch wenn profitable) Solarbuden.

M.E.: Die nächsten sieben Handelstage werden zeigen, ob der Kurs über die nun kommende Abwärtstrendline nachhaltig ausbrechen kann oder nicht ... danach kommt eine zweite Abwärtstrendlinie im Dezember und wenn die geschafft wäre, dann wäre es ein Ausbruch aus einem Keil, oder ? Und dieser kann wieder zurück Richtung 150p führen, was dann im nächsten Jahr (ist ja bald) einer "KGV-Anpassung Richtung KGV08 von 15" gleichkäme ...

KGV08 ist wohl nun bei 9,5 und KGV09 bei 6,x glaube ich, kann aber falsch sein, also selbst nochmal nachrechnen.
Antwort auf Beitrag Nr.: 32.491.775 von Vinyard am 20.11.07 11:11:53Der Kurs ist voll an der 1. Abwärtstrendlinie abgeschmiert.

Bin auf dem Weg nach unten zig mal raus und rein, neben Differenzverlusten hat an mir nur der Makler verdient ;). Ist aber noch zu verkraften.

Meine letzten Käufe am 11. und 12. lagen bei um die 110p und die habe ich noch.

Entgegen meiner Planung, werde ich bald wieder kaufen, aber erst, wenn Reversalbemühungen nachhaltig eingetroffen sind ;) ...

KGV 08 übrigens bei 8,? ...

Komisch, vielleicht stimmt auch was an dem laden nicht ...

Ich denke, bei 80 pence kann mit gutem Gefühl kaufen ... :laugh:
@ Vinyard,

Dein Warten zahlt sich aus, evtl. kannst Du hier bis Ende Dezember (da ist eine nächstes Update zu den Zahlen für 2007 vorgesehen) noch richtige Schnäppchen machen ...
1,29 Euro
KGV 07 bei 13 und KGV 08 bei 7,5 (oder so ?) bei einem Solawert der Gewinne macht und keine Schulden hat und nächstes Jahr die Produktion verdoppelt ... :eek: wenn an dem Laden nichts faul ist, verstehe ich es nicht, auch wenn ich Abschläge für kleine Newcomer nachvollziehen kann.
der Chart ist ja eine einzge Talfahrt, also so toll kann das ganze ja irgerndwie nicht sein. Vielleicht besser wenn Du erstmal so eine Art Bodenbildung abwartest.

Da gibts doch eine Regel: Vorsicht wenn alles zu perfekt erscheint :rolleyes:
Antwort auf Beitrag Nr.: 32.507.923 von Alufoliengriller am 21.11.07 12:06:04"Vielleicht besser wenn Du erstmal so eine Art Bodenbildung abwartest."

öh, ja, von mir aus. Hättse auch eher sagen können. Dagegen ist Sygnis ja der reinste Performer.
Antwort auf Beitrag Nr.: 32.495.243 von HansOhlemasse am 20.11.07 15:09:18alu, posting 45:

"Entgegen meiner Planung, werde ich bald wieder kaufen, aber erst, wenn Reversalbemühungen nachhaltig eingetroffen sind ..."

Thema Boden abwarten ...
Antwort auf Beitrag Nr.: 32.529.371 von Vinyard am 22.11.07 20:33:25jo ... unter 80p ?

Der Housebroker hat das Kursziel von 200p bestätigt und findet die Abschläge unerklärlich, da die Firma absolut unterbewertet ist im Vergleich zu den Peers (KGVse08 von 25-50, Jetion dagagen nur 7,5; PEG im Schnitt bei 1, Jetion bei 0,1!???), naja, was soll er auch sonst sagen. Sicherlich müssen chin. PV Hersteller aufgrund ihrer hohen Bewertungen derzeit an den Börsen abgeben ... aber ergibt sich durch eine evtl. Sippenhaft bei Jetion bald "die" Einstiegschance überhaupt oder ist da was faul ? Den Aufschwung haben die ja nicht mitgemacht (kleine Bude, keine Vertrauen, kein "Esposure" bei den Anlegern).

Man wird sehen, ich habe jetzt wiel Cash geparkt und nach dem reinundraus doch a bisserl draufbezahlt, aber evtl. zahlt sich ein Kauf im Zeitraum bis Ende Dezember ja doch noch aus, auch wenn man dann 10-20% über einem "Boden" kauft ... man weiss dann zumindest, da war einer ;)
Ok, nich mehr im Plus :rolleyes:, aber dafür habe ich meine Aktienanzahl an der AIM um 50% erhöht die letzten zwei Wochen :p

Es bleibt dabei: KGV 08 ca.7,5 (Wettbewerber KGVs ab 16 bis weit über 20), PEG 0,1 (Wettbewerber haben PEGs um 1).

Was auch immer, 2008 muss das Ding durchstarten, oder ... ich muss umschichten ;).
Das vieldiskutierte Problem war ja bisher, dass die chin. Regierung die Binnennachfrage nach Solar (PV) nicht durch Subventionen und Programme ausreichend anheizt und die chin. Firmen fast ausschliesslich nur exportieren ...

Das könnte nun anders werden ..., die amerk. Börsen reagieren schon drauf ...

Link nochmal:

http://www.bloomberg.com/apps/news?pid=20601084&sid=aFk3_zEw…
wenn man mal selbst in China war, weiss man dass die Umwelt die Bevölkerung einen Scheissdreck kümmert.

Bei einer Anlage von uns musste ich mal einen ölwechsel machen, die 10 Liter Altöl hab ich in einem Eimer aufgefangen und einem gegeben damit er es "entsorgt". 3min später stand er mit leerem Eimer neben mir und hatte es einfach vor die Tür gekippt.

Da ist noch einiges an Pionierarbeit zu leisten... :laugh:
Antwort auf Beitrag Nr.: 32.877.849 von Alufoliengriller am 27.12.07 11:14:10"wenn man mal selbst in China war, weiss man dass die Umwelt die Bevölkerung einen Scheissdreck kümmert."

Ich war/bin auch öfters drüben, nicht nur die Umwelt, alles andere ausser Geld interessiert die auch einen Scheissdreck ;).

Gerade deswegen brauchen die drüben so ein Programm wie hier.

Übrigens, 90% der Deutschen bekommt man ebenfalls nur über den Geldbeutel, oder glaubst Du, die Deutschen jaufen sich:

- Solaranlagen,
- Holzpellet-Heizungen
- Wärempunpen,
- Wäremdämmungen
- und Russpartikelfilter
- verbrauchsärmere Autos
oder steigen nun vermehrt auf den Nahverkehr um, weil
die Deutschen alle grün im erzen sind ?

A apropos "Verkehr", selbst zum Kindekriegen bekommt man den Deutschen nur über den Geldbeutel animiert ;):

"Seit langem wieder mehr Geburten in Rheinland-Pfalz
Statistiker vermuten Elterngeld als Grund"
http://www.main-rheiner.de/region/objekt.php3?artikel_id=3098838
PS: Man darf evtl. auch hier den Chin. nicht unterschätzen, wenn die kommunistische Regierung der Meinung ist, etwas durchdrücken zu müssen und es dann als neue vaterländische Pflicht propagandieren würde ...

Bsp.: Solarthermie auf den Dächern, dass sollte Dir in China auch aufgefallen sein, wie die Däcger damit inzwischen in einigen Städten gepflaster sind. Wenn die was wollen/müssen, dann knallt das von heute auf morgen ...
Gerade ein >527251 Stücke Blocktrade

13:30:47 88.5p 87.5p 89p 527,251 £466,617 BUY O


@ Alu: In London: 25165564 Stücke gelistet

In FSE ? Holen die Händler sich drüben, oder ?
Antwort auf Beitrag Nr.: 32.879.759 von HansOhlemasse am 27.12.07 15:17:47Ich denke es sind ca 74 Mio. Stücke gelistet, es wurden "nur" 25 Mio neue Aktien zu 151pence ausgegeben. Bei Comdirect sind auch 74 Mio hinterlegt, MK also ca 90 Mio. Für ein chinesisches Solarunternehmen haben sie zumindest eine tolle deutsche Homepage.

http://www.buchanan.uk.com/cgi-bin/viewannounce.pl?dir=Jetio…
Antwort auf Beitrag Nr.: 32.880.481 von Alufoliengriller am 27.12.07 16:41:27Achso, hattest Du wg. der MK gefragt ?

Siehe http://www.londonstockexchange.com/en-gb/pricesnews/prices/s…

MK: 65,49 Mio. GBp = 89,85 Mio. Euro
http://fxtop.com/de/

Neben der geringen MK interessiert mich:
KGV ca. 7,5 bis 8 (Wettbewerber dagegen 16 bis 140)
PEG 0,1 (Wettbewerber dagegen um 1)
Naja, zumindest entsteht nun an der LSE mal sowas wie ein Handelsvolumen bei Jetion, ein paar Käufe sind auch von mir ;)

siehe LINK:

http://www.iii.co.uk/investment/detail.epl?code=cotn%3AJHL.L&display=trades&it=le&show=All&timeframe=480

(Den Link kopieren und in die Adresszeile des Browsers einfügen, da eine direkte Verlinkung über WO nicht möglich ist).
Antwort auf Beitrag Nr.: 32.881.384 von Alufoliengriller am 27.12.07 18:19:07Das weiss ich auch ;), aber bisher hat WO die iii-links immer blockiert, z.B: die zu den Diskussionsforen.

Deshalb poste ich oft beides, hyperlink und softcopy. Diesma nich, und schon halten einen alle für blöde ;), denn dieser scheint sich ja verlinken zu lassen.
Die chinesischen Solarfirmen ...

Was fällt auf ? Der Kurs der einzigen nicht in US gelistesteten Firma ist abgeschmiert. Die Engländer halten derzeit noch nichts von Solar und chinesische Firmen sind denen zu unsicher. Auch andere an der AIM gelistete Solarwerte wie Crystalox (Deutsch/Britisches Unternehemen) hatte einen miesen Verlauf. Bei beiden fundamental nicht wirklich zu rechtfertigen, bis auf die ewige Silikonpreisdebatte natürlich, IMO.

Jetion hat die Siliconpreisentwicklung gehedged und neue Verträge für Wafer und Zellen gemacht, die günstiger sind und ab Sep. 07 laufen (oder so). Der Euro steht hoch (Yuan/Euro) und 70% der Produktion gehen nach Europa. KGV 7,5-8, PEG = 0,12.



Jetion: gelingt der Durchbruch über die beiden Abwärtstrendlinien ?

Antwort auf Beitrag Nr.: 32.885.838 von Alufoliengriller am 28.12.07 10:53:42maah ey, "Been there, done that" ... dat mittem Preview hatte ich seinerzeit auch probiert, da gingen die iii links, nach dem psoten aber dann nicht mehr.
Namens-Psychologie, man hat eine chinesische Solarbude:

Man nenne sich Canadian Solar, inkorporiert in CN und liste in US,

oder man nenne sich

Jiangyin Jetion bzw. Jetion Holdings (ohne das Wort Solar im Namen) und liste in London, wo die Sonne selten scheint ;) und wo man immer noch begründet, dass sich PV ja nicht rechnet und dass alle chin. Firmen überbewertet und riskant seien.



PS: Ich habe Gewinne aus Canadian Solar nun in Jetion umgeschichtet. Ebenso einige realisierte Gewinne aus JA Solar. Evtl. ein Fehler ? Wahrscheinlich. Ich mache viele Fehler !
Bodenbildung abwarten blablabla, na wenn das kein Boden ist/wird ..., siehe chart. Zudem ist das Ohlemaß nach oben raus, was für mich mein Maß zum Einsteig ist.

Ansonsten: Jeder muss selbst recherchieren und entscheiden, denn Aktien können auch fallen :rolleyes:;)

Naja, wenn die Insider kaufen ...

The Company received notice on 28 December 2007 that Ms. Jiezhen Yang, the company's largest shareholder and a director of Jiangyin Jetion Science and Technology Co., Ltd., a wholly owned subsidiary of the Company, purchased 475,000 ordinary shares at 88 1/2p per share on 27 December 2007 and a further 650,000 ordinary shares at 93.88p per share on 28 December 2007. Following this transaction Ms. Jiezhen Yang's beneficial holding in the Company amounts to 43,658,112 shares representing approximately 58.83% of the issued share capital of the Company.

The Company has received notice that David Steeds, a Director of the Company, purchased on 17 December 2007, 15000 ordinary shares at 92p per share. Following this transaction Mr Steeds beneficial holding in the Company amounts to 30,000 shares representing approximately 0.04% of the issued share capital of the Company.
Glückwunsch dass Du so hartnäckig eingesammelt hast, bei dem Chart war das zumindest sehr gewagt. Mal sehn obs sich auch weiterhin so hält, sieht aber erstmal ganz gut aus :)
Antwort auf Beitrag Nr.: 32.495.276 von HansOhlemasse am 20.11.07 15:11:08@ Vinyard:

"#46 von HansOhlemasse 20.11.07 15:11:08
@ Vinyard,
Dein Warten zahlt sich aus, evtl. kannst Du hier bis Ende Dezember (danach ist eine nächstes Update zu den Zahlen für 2007 vorgesehen) noch richtige Schnäppchen machen ..."

Und haste was gekauft im Dez. ?
Morgen kommt das pre-close statement, dabin ich ja mal gespannt, wie es weiter geht ... erst bei Kursen um 170c wären das Ding mit KGV 15 oder so bewertet, oder ?

In London ist der Kurs ja gut abgegangen heute ... in FSE Bid 1,80, Ask 1,87, dagegen kein Handel heute.

Was sehen meine müden Augen da ?

Bei 200pence ist Jetion erst mit einem KGV von 16 bewertet ?

Zumindest so der house broker heute:

"Jetion is a China-based manufacturer of solar cells & modules. The solar
industry continues to boom. Rising concerns over global warming is driving
more and more countries to encourage investment in renewable energy
generation and the only practical solutions today are wind and solar power.
Consequently demand and pricing conditions in the solar industry are very
robust and the outlook is strong. Jetion is well placed to capitalise on this
growth. The company doubled production capacity in 2007 (50MW) and it is
already running at capacity. The company will double capacity again in 2008
and this capacity is already largely sold out. The shares are now trading on
9.5x 2008E earnings, a huge discount to comparable JA Solar which trades
at 35x 2008E. As Jetion continues to deliver this discount will become
increasingly unjustified. We are keeping our 200p price target which, at 16x
2008E earnings, would still be a material discount to the sector"
RNS Number:7629L Jetion Holdings Limited 15 January 2008


For immediate release 15 January 2008
Jetion Holdings Limited
("Jetion" or "the Company")
Pre Close Statement


Jetion Holdings Limited (AIM:JHL), the manufacturer of solar cells and modules, is pleased to provide an update on trading for the full year to 31 December 2007.

The Directors of the Company are pleased to report that following the successful Initial Public Offering in July 2007, when Jetion was admitted to trading on AIM, the Company has continued to grow profitably during the second half of the year.

For the year as a whole, the Company's production, revenues and profit after taxation* will be slightly ahead of expectations.

Furthermore the Directors are pleased to confirm that they expect trading in calendar year 2008 to be in line with market expectations.

2007 - Key highlights


35.2MW OF PRODUCTION FOR THE FULL YEAR - CELL MANUFACTURING CAPACITY increased from 25MW to 50MW per annum in May 2007
SIGNIFICANT EXPANSION IN MODULE CAPACITY TO 40MW PER ANNUM BY YEAR END 2007 and cell conversion into modules - 8.2MW for full year
FURTHER EXPANSION TO 100MW PER ANNUM CELL CAPACITY IS ON TRACK FOR commencement in Q4 2008 - all equipment ordered for expansion
JOINT VENTURE ESTABLISHED IN EUROPE TO BROADEN CUSTOMER BASE AND TO capture additional value downstream
DEMAND CONTINUED TO OUTSTRIP SUPPLY IN SECOND HALF OF 2007 - THIS HAS continued into 2008
WAFERS EQUIVALENT TO 90MW OF PRODUCTION SECURED UNDER FAVOURABLE TERMS
Operational Update

Total production in 2007 was 35.2MW, (14MW in 2006), representing a 151% increase in output. Production has exceeded the Company's expectations of 32MW at the time of listing on AIM. Solar cell capacity was expanded to 50MW per annum following the successful commissioning of the second 25MW per annum production line in May 2007. The Company is also delighted with the production utilisation levels achieved in the year, which it believes to be among the best in the industry.

In the first half of 2007, production totalled 13.7MW, 95% of which was sold as solar cells. Production in the second half totalled 21.5MW, an increase of 56% compared with the first half. In line with the strategy announced at the time of listing, an increasing proportion of cells were converted into higher value modules during the second half when modules accounted for approximately 35% of the production mix. For the year as a whole, 8.2MW of the total of 35.2MW production was processed into solar modules. Module capacity had increased to 40MW per annum by the end of 2007.

This increase in module manufacturing has enabled the Company to increase its customer base, particularly in one of its target markets, Europe. The Company expects its European Joint Venture, ("the JV") established in October 2007 to continue to strengthen its European presence throughout 2008. The Company is pleased to report that over 1MW of sales were achieved through the JV in Q4 2007.

Jetion's production mix for 2007 included some 3.7MW of cells and 1.4MW of modules manufactured under tollgate and other subcontracting arrangements. These represented less than 5% of sales and the activities were terminated by the year end.

During 2007 Jetion purchased and commissioned three wafer slicing machines. Looking forward, a further machine is anticipated to be purchased and commissioned in the coming year expanding capacity to approximately 17MW per annum.

As a result of the product mix and the substantial growth in production, revenues will be slightly ahead of market expectations.

The industry faced cost pressures on silicon and wafer supplies in the second half of the year. These pressures have been offset through a series of strategic steps which included changes to the product mix, procurement initiatives and operational improvements. The company believes, therefore, that the profit after tax* will be slightly ahead of expectations.

Outlook

Trading for the calendar year 2008 is expected to be in line with market expectations.

In 2008 Jetion intends to add a further two production lines, increasing capacity to 100MW per annum all of which is expected to be used for the Company's own sales.

The Company continues to move production towards modules and is targeting a higher proportion of the production mix to be modules in 2008. It is anticipated that 50% of cell production will be converted to modules in 2008.

Jetion has contracted the sale of its anticipated production for 2008 and has agreed prices in RMB for sales in the first half.

Jetion will benefit from new supply contracts signed in the second half of 2007 which provide silicon wafers at a discount to current market prices. The Company has negotiated contracts for all its silicon wafer requirements for 2008, two thirds of which are at a discount to prevailing market prices. As a result, the Company will continue to manage any cost pressures in its raw material supplies.

Commenting on trading, Dipesh Shah, Chairman of Jetion said:

"Jetion continues to be well placed to capitalise on the rapidly growing solar industry and is expanding its expertise and know how to ensure that the business continues to grow in line with market expectations.

"The Directors are confident that Jetion is in excellent shape as it enters 2008 and that it will continue its aggressive growth of production, revenues and profits, whilst controlling costs, as new capacity comes on line and increased module revenues positively impact our production mix.

"We are also delighted to report good trading in the second half of 2007 - and look forward to adding shareholder value in the coming year."
Antwort auf Beitrag Nr.: 33.062.733 von Vinyard am 16.01.08 08:52:37Ich erhoffe irgendwann diese Jahr 200 pence.
Denn bei 200pence sind die laut Hausbroker mit KGV08 von 16 bewertet und das ist für eine kleine wachstumsstarke chinesische Solarbude ein fairer Wert, wenn man bedenkt, dass die Jetions Peers wie Ja Solar bei über 30 liegen.

Bis März 2008 (da kommen die Zahlen), kann der Kurs evtl. zwischen der 90er und 200er Linie oder über der 200er rumeiern. Ob die 150er ín Kürze erreicht werden, dazu braucht man evtl. etwas mehr hype, und vorher etwas Abkühlung (siehe heissgelaufenen RSI). Sorgen macht mir das Gap unter 100cent. Habe Gaps nun nicht so gerne.

Schöne Flagge am Fahnenmast ;).

Volumen nimmt ab, Kurs hält sich überraschend gut im Marktumfeld, RSI recht heiß, mal sehen ... schön wäre es, wenn der Kurs aus der Flagge dann mal nach oben raus gehen würde ...

Chartechnisch gut ist ja immer, wenn der 38er EMA den 200er EMA von unten nach oben schneidet ..., das könnte ja bis März der Fall sein und das könnte dann evtl. Schub bis 170cent geben ... M.E.
Die nächsten zwei Tage werden glaub' ich spannend, siehe schwarze gestrichelte Linie. Kann gerne noch das Gap bei 130pence zu machen, wen die graue Linie dann wenigstens hält ... kann aber auch gerne aus der Flagge nach oben raus, hätte ich nichts dagegen. RSI und MACD sprechen aber dagegen, finde ich, MAL SEHEN, GELLE ?!

15.02.2008 08:49
Jetion to supply 22MW of solar modules to Solar Tec

LONDON (Thomson Financial) - Jetion Holdings Ltd (News) said it has entered into a sales agreement with Germany-based Solar Tec AG to supply 22 mega watts (MW) of solar modules throughout 2008.

The company said it had an annual module capacity of 40MW at end-2007 after it accelerated the conversion of solar cells into module products in the second half of 2007.
Irgendwann im März kommen Zahlen ... normal schmieren, auch bei sehr guten Zahlen, die Kurse heutzutage ja eher ab wg. des hypes vorher. Hier könnte ich mir denken, man wartet auf die Zahlen, um zu sehen, was hinter Jetion wirklich steckt, dem Laden schien 2007 ja keiner zu trauen. Evtl. könnte daher ausnahmsweise mal wieder der Kurs einer Solaraktie bei den Zahlen steigen :confused:

Kurs hält sich über 200er, 38er kommt von unten, das wird ja gern also positiv angesehen, wenn die 38er dann die 200er von unten nach oben schneidet. Mal sehen.

Was da los ist? Wer kauft in diesen zeiten kleine chinese Solarfirmen, wenn sogar die großen Solarbuden aus Unsicherheit verscherbelt werden ...

Ich habe nachgekauft, nächste Woche kommen Zahlen.
Zahlen heute:

RNS Number:1126R
Jetion Holdings Limited
31 March 2008

For Immediate Release 31 March 2008

Jetion Holdings Limited



Preliminary Results for the year ended 31st December 2007

Jetion Holdings Limited (AIM:JHL), a leading designer, manufacturer and supplier
of high quality solar cells and modules, today announces its preliminary results
for the twelve months ended 31 December 2007.

Key Points

* Successful IPO on AIM in July 2007, raising US$57m net of expenses
for the company

* Sales up by 135% to US$106.9m (2006:US$45.5m)

* Gross profit up by 155% US$17.0m (2006: US$6.7m)

* Operating profit* up by 101% to US$11.3m (2006:US$5.6m)

* Profit after tax* up by 125% to US$11.2m (2006:US$5.0m)

* Net cash of US$8.4m (2006:net debt of US$9.6m)

* Cell manufacturing capacity doubled in the year to 50MW pa; module
capacity increased to 40MWpa.

* In house silicon wafer slicing commenced

* Joint Venture established in Europe to broaden customer base and to
capture additional value downstream

* Cell manufacturing capacity scheduled to double again to 100MW p.a.
by Q4 2008

* Silicon wafer supplies secured for 2008 production


* before equity based expense under IFRS 2 of US$3.3m relating to the arrangements made at the time of the admission process and as described in the
Company's AIM Admission Document

Commenting on the Results, Dipesh Shah, Chairman said:

"I am pleased to witness Jetion's rapid development and the very
substantial progress during 2007 which has exceeded expectations. This augurs
well for the continued expansion of the Company in 2008... The trading outlook
for calendar year 2008 is in line with market expectations. Demand for Jetion
products has continued to outstrip supply... Overall the solar industry is
forecast to grow rapidly again during 2008."

For further information please contact:

Jetion Holdings Limited 020 7466 5000(today)
Dipesh J. Shah, OBE Chairman

Collins Stewart Europe Limited 020 7523 8000
Adrian Hadden
Adam Cowen

Buchanan Communications 020 7466 5000
Mark Edwards
Ben Willey
Christian Goodbody

CHAIRMAN'S STATEMENT

2007 has been a milestone year in the development of Jetion Holdings Ltd. In
May 2007, the Company commissioned a second 25MW p.a. production line increasing
its solar cell production capacity to 50MW p.a.. Additionally, Jetion expanded
its module capacity to 40MW p.a. by the year end. This capacity enables the
Company to move further along the value chain and closer to the end user with
its branded products, in line with the Company's stated strategy.

In July 2007, the Company was successfully admitted to trading on AIM, a market
operated by the London Stock Exchange, the "IPO" raising approximately
US$57m net of expenses for the company through a placing of shares. The
proceeds of the Placing are being used primarily for the next phase of
production expansion, which is currently underway, and which will double cell
manufacturing capacity to 100MW p.a. with four fully commissioned production
lines by October 2008.

Following its IPO, Jetion embarked on other initiatives to consolidate its
position in the market. In October 2007, the Company announced a European Joint
Venture with two European distributors to broaden its customer base. This joint
venture is already increasing demand for the Company's products in Western
Europe which is a key market for the solar industry. Jetion also commissioned
three wafer slicing machines to further underpin its requirements for good
quality wafers. Furthermore, the Company negotiated new wafer supply
arrangements to enable it to mitigate industry wide cost pressures.

In 2007, Jetion recorded sales revenues of US$106.9m and profit after tax of
US$11.2m*. These are year on year increases of 135% and 125% respectively,
demonstrating the Company's ability to deliver profitable growth.

As Chairman, I am pleased to witness Jetion's rapid development and the very
substantial progress during 2007. This augurs well for the continued expansion
of the Company in 2008.

The trading outlook for calendar year 2008 is in line with market expectations.
Demand for Jetion products has continued to outstrip supply. Overall, the solar
industry is forecast to grow rapidly again during 2008, and it is encouraging
that uncertainty in Spain, an important market, has eased following its recent
general election. Sales prices have held up in this environment. Despite poor
weather in China for a part of the first quarter, production has been in line
with management expectation. In addition, the further expansion of cell and
module capacity is on schedule.

Jetion's success to date is, in large part, due to the commitment and
unwavering support of our employees, senior management and Board and I would
like to take this opportunity to thank them all. I would also like to thank
you, our shareholders, for your support since the IPO.

Dipesh J. Shah OBE, FRSA

* before equity based expense under IFRS 2 of US$3.3m relating to the
arrangements made at the time of the admission process and as described in the
Company's AIM Admission Document.

CHIEF EXECUTIVE REVIEW

In 2005 Jetion made the strategic decision to enter the Photovoltaic market and
since that time has been focused upon realising its ambitious plans and
demanding targets. 2007 has been an exciting year for the Group with sales
growing by 135% to US$106.9m and operating profit before equity based expense by
101% to US$11.3m.

Strategy

Solar power generation has emerged as one of the most rapidly growing renewable
sources of electricity and the strong growth seen in the past decade is forecast
by independent energy research consultants Solarbuzz LLC, to continue. Jetion
will continue to take advantage of the strong anticipated growth in the global
renewable energy market to become a major player within the worldwide solar
power industry. Its strategy will continue to focus upon scaling up
manufacturing capacity, driving production efficiencies, moving up the value
chain, exploring partnerships or selective acquisitions for new solar
technologies, expanding its geographic reach and strengthening its brand.

Operations

The IPO significantly strengthened Jetion's financial position and provided it
with the finance necessary to pursue the above strategic objectives. In May
2007, 25MW of additional capacity was successfully installed and commissioned
bringing total manufacturing capacity to 50MW p.a. Output of solar cells for
the year was 35.2MW (2006: 14MW), 13.7MW in the first half and 21.5MW in the
second. By the end of the year solar cell output was running at close to
maximum capacity. A further 50MW p.a. of production capacity will be installed
and commissioned by Q4 2008.

The Group also added capacity to produce solar modules as the proportion of
manufactured cells converted to solar modules was increased. 8.2MW (2006:1.7MW)
of the total output of solar cells in the year of 35.2MW was converted to solar
modules. Incorporating more solar cells into modules has not only had a
beneficial impact upon margins but also allowed the Group to increasingly access
European end-users and drive an increased awareness of the Jetion brand. Module
production capacity had increased to 40MW by the end of 2007.

In the second half of 2007 the first of a series of wafer slicing machines were
installed giving the Group the ability to slice wafers from ingots/crystals.
This has also allowed the Group to capture a greater proportion of the value
chain. Plans are in place to increase this capacity further in 2008.

There was a strong emphasis over the year on continual improvements to reduce
costs and improve margins. There were improvements in efficiency and yields
through material supply, the production environment, set up and development
modifications. Jetion's average cell efficiency of 16.5% makes it one of the
leaders in the industry. This keen strategic focus on cost, performance and
quality will continue in 2008. Fundamental to success in this area is the
Group's investment in research and development ("R&D") that was
increased during the year. A key R&D focus in the year was on improving
conversion efficiency rates in wafers of differing qualities and specifications
as well as studying polysilicon texturing and solar applications such as solar
traffic lights, solar vehicle chargers and various solar power sources. R&D is
also key to securing various product accreditations fundamental to leveraging
sales and achieving product acceptance in the European and US solar markets e.g.
in October of 2007 Jetion achieved TUV accreditation for the global sale of its
solar module products.

Throughout the year there was strong demand for the Group s products and
customer satisfaction was high. This was a reflection of the focus on product
quality and customer service. Average industry selling prices per watt of both
silicon cells and modules declined by over 5%. The impact on Jetion was
mitigated by changes to its sales mix with a growing proportion of module sales.
The number and quality of customers increased during 2007 as did the
geographic spread of those customers, again principally as a result of the move
into module supply where over 90% of module production was exported. 64% of the
Company's solar cell production was sold to Chinese module manufacturers where
they were processed into modules and then exported. In October 2007, the Group
also established a European joint venture, Jetion Europe, with the objective of
increasing its European market penetration and Jetion brand recognition. It
reported sales in the last quarter of 2007 of 2.89MW. Demand for modules is
strong as witnessed by the announcement in February 2008 of an agreement to
supply the German systems integrator Solar Tec AG with 22MW of solar modules
throughout 2008.

Supplies of high purity solar grade silicon both in the form of wafers and
ingots was tight in 2007. Supply shortages and supply/demand imbalances put
pressure on the industry and average wafer prices generally increased by circa
10% in the year. However, Jetion had negotiated its raw material silicon
supplies for its anticipated 2007 requirements early in the year, which
mitigated this pressure. During the second half of 2007, the Group negotiated
contracts for its additional requirements for 2007. Furthermore, all of its
supplies of silicon wafers and ingots for 2008 and 2009 were secured with a
limited number of suppliers giving the Company a high level of material supply
visibility. Some two thirds of the agreements for 2008 are at a discount to
prevailing market prices, giving confidence that Jetion can manage any cost
pressures in its raw material supplies. In order to secure these agreements, it
was necessary, as envisaged, to make prepayments to suppliers. By reducing the
number of silicon raw material suppliers and increasing the volume from each
supplier, Jetion has better control over its raw material and can set up larger
production runs that would in turn improve conversion efficiency rates. The
emphasis on maintaining strong long term silicon supply visibility is continuing
and in mid March 2008 Jetion announced that it had entered into an agreement
with a Japanese company to purchase 100MW of solar polycrystalline silicon
feedstock with immediate effect through until 2011.

Outlook

It is anticipated that worldwide demand for solar products will continue to
grow rapidly in the future, and we believe that we are in a strong position to
benefit from this growth.

By October 2008, the Group plans to double its solar cell production capacity to
100MW and extend its in-house wafer slicing capability. It also has plans to
further extend its solar module production capacity and capture additional
downstream value. Silicon raw material supply agreements have been negotiated
covering most of 2008 production at prices that reflect a discount to the
prevailing market price.

The Group will also maintain its position among the leaders in the solar
industry by focusing upon continual improvements in production efficiency and
yield as well as research and development. Jetion will seek to increase its
European market penetration by leveraging its European joint venture, Jetion
Europe, and will benefit from the growth of solar energy in other parts of the
world including the United States.

This strong market outlook together with the above action plan allows the Group
to view 2008 with confidence.

March 2008
Lijin Gai
Chief Executive Officer

FINANCIAL REVIEW

Overview

Total group sales during the year were US106.9 million (2006: US$45.5 million).
The increase in turnover

reflects a more than doubling of production to 35.2MW (2006: 14MW), and an
increase in conversion of cells to modules which attracted a higher price.

Gross profit increased to US$ 17.0 million (2006: US$6.7 million) and the gross
margin percentage was 15.9% (2006: 14.7%). Gross margin compared with the
prior year reflects improvements in efficiency and yield and the increase in the
proportion of solar cells converted into solar modules that were sold at higher
margins. These positive effects together with the benefits from new wafer
supply arrangements that commenced in September compensated for the unfavourable
trend in the solar industry towards higher wafer supply prices.

Operating profit before equity based expense for the year rose to US$11.3
million (2006: US$5.6 million.,The European joint venture contributed US$0.2
million. The profit after tax before the equity based expense related to the
IPO in July was US$11.2 million.

Net finance costs were US$0.1 million (2006: US$0.6 million). They include the
favourable impact of the fund raising and IPO in July 2007 that generated US$57
million, net of expenses for the Company They also include the adverse effect
of supplier prepayments to secure future silicon raw material supplies that
amounted to US$34.1 million at the year end. Finally, they have also been
impacted by the growth in working capital during the year to fund the rapid
growth in the business.

There was no charge for tax in the year (2006: Nil) as it reflects the impact
of the tax holiday enjoyed by the Group in its Chinese operations.

Earnings per share and dividends

The profit attributable to the equity holders of the Company amounted to US7.9
million (2006: US$5.0 million). After adding back the adjustment for the equity
based expense arising in connection with the IPO this amounted to US$11.2
million. Basic earnings per share is arrived at by dividing these figures by
the weighted average number of shares in issue during the year. Basic earnings
per share before the adjustment for equity based expense amounted to US30cents
and basic earnings per share after the adjustment amounted to US21cents.
Adjusting for the share capital reorganization in June, proforma earnings per
share before share based expense rose to US$18cents (2006: US$10cents)

Key performance indicators

The Group uses financial and operational key performance indicators (KPIs) to
monitor its business. The key financial KPIs used are sales, gross margin,
operating profit, working capital to sales ratio and profit after tax.

Balance sheet & cash flow

At the year end, total equity was US$77.6million (2006: US$9.7million). The
Group had net cash of US$8.4million at the year end (2006 : net debt of
US$9.6million) The change in net debt in the year was positively impacted by
the funds raised at the time of the IPO in July less the impact of prepayments
to equipment and silicon raw material suppliers (US$ 40.1million at 31 December
2007) and the growth of working capital related to the rapid growth in the
business. The return on invested capital calculated as profit after tax before
finance charges, divided by the average of opening and closing shareholders
equity and net debt was 25%.. The percentage after adjusting for share based
charges related to the IPO in July was 18%.

The net cash outflow in the year from operating activities after interest and
taxation payments was US$28.3 million (2006: US$1.3million). Excluding
prepayments for silicon raw material supplies, buildings, plant and equipment
there was an inflow of US$11.8million. Net cash used in investing activities in
2007 was US$9.9million (2006: US$2.9million) being principally the addition of
25MW of solar cell production capacity and fixed assets in construction relating
to the planned 2008 production capacity.

European Joint Venture

A joint venture was established last October to enhance the Company's
distribution and capacity in Europe. Jetion owns 51% of the new company with
the balance owned equally by Andreas Gruenburg of Zurich, Switzerland and
Sunlynx Anstalt based in Lichtenstein

Treasury

The Group's treasury activities are conducted in accordance with policies
agreed periodically with the Board. Those policies are aimed at reducing
financial risk, ensuring that the Group has sufficient liquidity available to
meet all foreseeable needs and managing cash and funding requirements. The
Group makes limited use of instruments to hedge foreign currency exposures but
does not make speculative transactions.

Going concern

In accordance with the recommendations of the Combined Code, the Directors have
duly considered the budgets, forecasts, cash flows and the outlook from the
operating companies and consider that the Company and the Group have adequate
financial resources to continue in operational existence for the foreseeable
future. For this reason they continue to adopt the going concern basis in
preparing these accounts

March 2008
Stephen Hon Cheung So
Finance Director

CONSOLIDATED INCOME STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2007

2007 2006
Notes $000 $ 000

Revenue 106,860 45,454

Cost of sales (89,848) (38,770)
_________ _________
Gross profit 17,012 6,684

Other operating income 167 -
Administrative expenses (3,158) (905)
Other operating expenses (2,958) (183)

Share of results of joint venture 207 -
_________ _________
Operating profit before equity-based expense 11,270 5,596

Equity-based expense* 2 (3,279) -
_________ _________
Operating profit 7,991 5,596

Investment revenues 905 80
Finance costs (1,000) (705)
_________ _________
Profit before tax 7,896 4,971

Tax - -
_________ _________
Profit after tax 7,896 4,971
_________ _________
=========== ===========
Attributable to:
Equity holders of the parent 7,896 4,971
_________ _________
=========== ===========

Earnings per share 3

Basic before share-based expense $0.30 $55,854

Basic $0.21 $55,854

Pro-forma before share-based payment $0.18 $0.10

* The equity-based expense above is as described in the AIM admission document
and relates to the arrangements made at the time of the admission process. The
operating profit for the year before this equity-based expense is presented as
the Company considers it to be the appropriate measurement of the Company's
ongoing economic performance and the Company uses this adjusted profit
internally to assist in evaluating and managing the Company's operations.

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2007

Share Treasury Share Exchange Retained
Capital Shares Premium Reserve Reserves
$000 $000 $000 $000 $000

At 1 January 4,947 - - - (441)
2006

Translation
difference - - - 223 -
Profit for the
year - - - - 4,971
_________ _________ _________ _________ _________

Balance at 31
December 2006 4,947 - - 223 4,530
_________ _________ _________ _________ _________
=========== =========== =========== =========== ===========

At 1 January 4,947 - - 223 4,530
2007

Cancellation of
shares (4,947) - - - -
Issue of shares - - 71,699 - -
Costs of share
issue - - (6,313) - -
Treasury shares - (3,395) - - -
Translation
difference - - - 3,007 -
Profit for the
year - - - - 7,896
_________ _________ _________ _________ _________

Balance at 31
December 2007 - (3,395) 65,386 3,230 12,426
_________ _________ _________ _________ _________
=========== =========== =========== =========== ===========

CONSOLIDATED BALANCE SHEET
AS AT 31 DECEMBER 2007

2007 2006
Notes $ 000 $ 000
ASSETS
Non-current assets
Construction in progress 2,277 631
Property, plant and equipment 13,326 6,125
Intangible assets 1,849 1,766
Investments in joint venture 283 -
________ ________
17,735 8,522
________ ________
Current assets
Inventories 7,763 3,819
Trade and other receivable 5,247 10,761
Trade receivable from joint venture 7,738 -
Payments in advance 40,056 -
Tax refundable 1,037 -
Cash and cash equivalents 22,499 2,947
________ ________
Total Current assets 84,340 17,527
________
TOTAL ASSETS 102,075 26,049
________ ________
Current liabilities
Trade and other payables 10,351 3,709
Bank loans 13,087 12,589
Other borrowings 990 -
Tax liabilities - 51
________ ________
Total liabilities 24,428 16,349
________
NET ASSETS 77,647 9,700
________ ________

EQUITY
Share capital 4 - 4,947
Share premium account 4 65,386 -
Treasury Shares (3,395) -
Translation reserve 3,230 223
Retained earnings 12,426 4,530
________ ________
TOTAL EQUITY 77,647 9,700
________ ________

CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2007

2007 2006
$ '000 $ '000

Operating profit from continuing operations 11,270 5,596
Adjustments for:
Depreciation and amortisation 966 587
Share of Joint Venture profits 207 -
_________ _________
Operating cash flows before movement in working
capital 12,443 6,183
Increase in Inventories (3,944) (3,268)
Increase in Trade and other receivable (43,317) (4,973)
Increase in Trade and other payable 6,642 1,272
_________ _________
Cash used in operations (28,176) (786)
Interest received 905 80
Interest paid (1,000) (705)
Income tax (paid)/recovered (51) 88
_________ _________
Net cash from operating activities (28,322) (1,323)
_________
INVESTING ACTIVITIES
Purchases of property, plant and equipment (8,043) (2,443)
Construction in progress (1,732) 76
Purchase of intangibles - (514)
Investment in Joint Venture (76) -
_________ _________
Net cash used in investing activities (9,851) (2,881)

FINANCING ACTIVITIES
Repayments of borrowings (6,832) -
Proceeds on issue of shares 68,304 -
New bank loans raised 2,331 6,293
Other borrowings 990 -
Share issue costs (6,313) -
_________ _________
Net cash from financing activities 58,480 6,293
_________
NET INCREASE IN CASH 20,307 2,089

CASH AT BEGINNING OF YEAR 2,947 686
Effect of foreign exchange rate changes (755) 172
_________
CASH AT END OF YEAR 22,499 2,947

1. BASIS OF PREPARATION

The financial information set out above does not constitute statutory accounts
but is derived from the full financial statements for the Company, and as such,
does not contain all information required to be disclosed in the financial
statements prepared in accordance with International Financial Reporting
Standards ('IFRS'). The auditors' report on the full financial statements
for 2007 is yet to be signed.

The financial information presented has been prepared using accounting policies
consistent with International Financial Reporting Standards as endorsed by the
European Union.

2. EQUITY-BASED EXPENSE

In advance of the AIM Admission process, and as fully described in the Company's
Admissions document, the Company established a discretionary Employee Benefit
Trust (EBT) which acquired Ordinary Shares in the Company at a nominal value to
be used at the relevant time to generate proceeds to satisfy an award granted to
the Chairman at the time of the AIM Admission. The award was made for services
in respect of the flotation and the development of the Company. No other
Ordinary Shares will be issued in order to satisfy the award.

The equity-based expense reflects an award equivalent to 1,096,700 Ordinary
Shares (representing 1.5 per cent. of the Ordinary Shares) at the placing price
of 151 pence per Ordinary Share and will not normally be accessible until 6 July
2008, twelve months from Admission.

3. EARNINGS PER SHARE

Basic earnings per share

Basic earnings per share is calculated by dividing the profit attributable to
equity holders of the Company by the weighted average number of ordinary shares
in issue during the year.

2007 2006

Profit attributable to equity holders of the Company ($ 000) 7.896 4,971

Weighted average number of ordinary shares in issue
(thousands) 37,765 89

Earnings per share ($ per share) 0.21 55,854
======== ========

Basic earnings per share before equity-based expense

Basic earnings per share before equity-based expenses is calculated by dividing
the profit attributable to equity holders of the Company by the weighted average
number of ordinary shares in issue during the year.

2007 2006

Profit before equity-based expenses attributable to equity
holders of the Company ($ 000) 11,175 4,971

Weighted average number of ordinary shares in issue
(thousands) 37,765 89

Earnings per share ($ per share) 0.30 55,854
======== ========

Proforma diluted earnings per share before equity-based expenses

Proforma earnings per share based on the profit for the year before equity-based
expenses is presented as the Company considers this to be a more meaningful
presentation of the Company's ongoing economic performance.

For this proforma calculation it is assumed that the reorganisation of the share
capital took place on 1 January 2006 rather than on 26 June 2007.

2007 2006
$ 000 $ 000

Profit before equity-based expense attributable to equity
holders of the Company ($) 11,175 4,971
-------- --------

Proforma weighted average number of ordinary shares in issue
(thousands) 62,104 50,000
Proforma earnings per share ($ per share) 0.180 0.099
======== ========

4. SHARE CAPITAL

Number of Amount
shares
$
Authorised:
18 July 2006 - on incorporation 50,000 50,000
28 June 2007 cancellation (50,000) (50,000)
----------- --------
- -
----------- --------

26 June 2007 C increase in No Par
Value 100,000,000 -
shares ----------- --------

At 31 December 2007 100,000,000 -
----------- --------

Share Premium
Issued and fully paid:
18 July 2006 - issue of ordinary
shares of 89 89
$1 each on incorporation
7 February 2007 C issue and
allotment of 11 11
ordinary shares of $1 each
26 April 2007 issue and allotment
of 9,900 9,900
ordinary shares of $1 each ----------- --------
10,000 10,000
----------- --------
26 June 2007 C allotment of No
Par Value shares in consideration
of cancellation of
par value shares (Note a) 50,000,000 10,000
----------- --------

50,000,000 10,000

6 July 2007 C issue to Sun Power
Capital Ltd 1,817,600 5,000,000
6 July 2007 C issue to EBT at a
nominal value 1,096,700 20
6 July 2007 C issue to EBT by way
of subscription 1,096,700 3,394,835
6 July 2007 C issue by way of
placement (Note b) 20,198,676 63,293,750
--------
71,698,605
--------
Less: Share issue costs (6,313,100)
--------
At 31 December 2007 74,209,676 65,385,505
=========== --------

Note :

a. By special resolutions passed on 26 June 2007, the authorised share
capital was increased to 100,000,000 shares of No Par Value and the Par Value
shares were cancelled.

b. On 6 July 2006, trading of the Ordinary Shares of the Company
commenced on AIM, a market operated by the London Stock Exchange. 20,198,676 new
Ordinary Shares of No Par Value were issued in the Placing at the Placing Price
of 151 pence per share.


Vollständige PR siehe Firmen-Webseite
Antwort auf Beitrag Nr.: 33.066.194 von HansOhlemasse am 16.01.08 12:40:16aus meinem posting #85 vom 16.01:

"Bis März 2008 (da kommen die Zahlen), kann der Kurs evtl. zwischen der 90er und 200er Linie oder über der 200er rumeiern. Sorgen macht mir das Gap unter 100cent. Habe Gaps nun nicht so gerne."

Tja, "die" machen das wohl echt zu das Gap, siehe Chart ... wer sind "die"? Die gelben Engel ... LOL

Antwort auf Beitrag Nr.: 33.796.682 von Turbodein am 03.04.08 10:55:16Turbo, die Zahlen waren gut, auch über Analystenerwartungen.

Das ist hier eine KGV 8 Aktie. Das soll wohl so sein :eek:,

Muß man sich wohl dran gewöhnen.

Heute wieder "Insiderkäufe"? auf der LSE dem Volumen nach ...

Jetion ist die schlechteste Aktie mit der ich mich seit langem beschäftigt habe. Werde das daher erst recht mal beobachten, was hier mal passiert ... man wird es dann einies Tages verstehen.
Antwort auf Beitrag Nr.: 33.925.079 von Turbodein am 19.04.08 12:02:07Heute schon 130p,
Ausbruchshoffnungen werden da wach, siehe Chart in posting 108 ...

Geld 1,61 15:29:06 5.000 Stk.
Brief 1,68 15:29:06 5.000 Stk.
Antwort auf Beitrag Nr.: 34.091.994 von HansOhlemasse am 14.05.08 15:53:06War leider zu ungeduldig und bin schon letzte Woche mit Minigewinn raus. Könnte mir jetzt natürlich in den A. beißen.
For immediate release


23 June 2008




Jetion Holdings Limited


('Jetion' or the 'Company')


Resignation of Director


Jetion Holdings Limited (AIM:JHL), the manufacturer of solar cells and modules announces today that its Corporate

Development Director, Mr. Chris Xunan Chen, has resigned from the Company effective 15 June 2008 for personal

reasons.


'I would like to thank Chris for his significant contribution he has made to Jetion over the past year,' commented

Mr. Roger Gai, Chief Executive Officer of Jetion. 'Chris is leaving to pursue new personal opportunities, and

the Jetion team wishes him well as he prepares to take on these challenges.'
11.07.2008 09:42
Jetion says chairman Dipesh Shah resigns, Kow to be interim chairman

LONDON (Thomson Financial) - Jetion Holdings Ltd. (News) said its chairman Dipesh Shah has resigned with immediate effect and has been replaced for the time being by non-executive director Gabriel Kow.

The company is considering a permanent replacement as chairman, the solar cell and module maker added.
15.07.2008 08:43
Jetion Holdings says H1 sales, profits well ahead of last period

LONDON (Thomson Financial) - Jetion Holdings Ltd. (News) said it has continued to make good operational and financial progress during the first half of 2008 and that its first-half sales and profits are well ahead of the same period last year.

The solar cells and modules maker said it expects the demand for its products to continue to outstrip supply in the second half with the current order book underpinning the strong growth in production planned in the same period.

The company also said it remains optimistic for trading in the second half and that it expects good results for the full year as the additional production capacity comes on stream ahead of schedule.
LONDON (SHARECAST) - Sales and profits at China-based solar panel provider Jetion in the first half of 2008 were well ahead of last year.

More than 81% of products in the first half of 2008 were shipped to European customers, with half of European orders emanating from Germany.

The average selling price in the first half was 5.4% higher than in the first half of 2007.

The company’s upgrade of its production capabilities to 100 megawatts (mw) per annum cell capacity from 50mw p.a. was completed three months ahead of schedule at the end of June.

Despite this increase in capacity, demand for Jetion’s products is expected to continue to outstrip supply in the second half of the year. All of the projected output for the remainder of 2008 has already been covered by orders.

Jetion’s capacity to convert solar cells to modules has increased to 50mw p.a. from 40mw p.a., and this upgrade was also completed three months ahead of schedule, at the beginning of July.

“We are delighted that the company has completed its solar cell and solar module capacity expansion ahead of time, to meet the increasing orders from the customers, and in turn expects to improve gross margin,” said Roger Gai, chief executive of Jetion.

Gai added that he expects good results for the full year.
Antwort auf Beitrag Nr.: 34.508.587 von meinolf67 am 15.07.08 10:37:36Ja, was ich nicht verstehe - ich denke gerade in Deutschland sind so viele "Solarexperten". Alles drängelt sich im Arise-Thread und bei der Arise Aktie. Dabei ist eindeutig Jetion die "billigste Solaraktie der Welt".
Die augenblickliche Marketcap. ist 123m$. Mit der vorfristigen Fertigstellung der Kapazitäten - immerhin 1Q früher als geplant, jetzt 100MW gesamt - sind sie bei Vollauslastung in der Lage 330m$ Umsatz zu erwirtschaften und 33m$ Nettogewinn. Und wie gemeldet ist die Produktion im 2.HJ im Prinzip schon verkauft.
Das bedeutet KUV von 0,37 und KGV von 3,72 bei Vollast.
Hat noch irgendjemand `ne billigere Solaraktie zu bieten - die aber bitte kein Scam ist?

Gruss
s.
Antwort auf Beitrag Nr.: 34.508.950 von stupidgame am 15.07.08 11:12:36Arise ist ein Zockergame, so wie Worldwater oder Open Energy oder...

Scheint ein deutsches Gen zu sein.

Guck' Dir mal die 10 meistgelesenen Threads an; fast nur Rohstoffexplorer u.ä.; dazwischen die geannten Arise und WWAT

:laugh::laugh::laugh:
Antwort auf Beitrag Nr.: 34.509.349 von meinolf67 am 15.07.08 11:48:50Grüss Dich meinolf!

Leider sind im Arise-Thread nicht gerade die Experten versammelt. Sage das vollkommen ohne Hohn. Ist eher schade.
Übrigens, ich muss Dir mal ein ganz grosses Lob aussprechen für Deine Arbeit hier im Board, was die Solars betrifft. Letztlich bin ich auch über Dich auf dieses Papier gestossen.
Wenn es einen Preis für den fleissigsten und uneigennützigsten User hier im Board geben würde, dann wärst Du mein erster Kandidat. Ich wünsche Dir ganz viel Erfolg damit - das es sich für Dich wenigstens auch auszahlt.

Beste Grüsse
s.
Dipesh Shah

Der Vertrag war von vornherein vorerst nur auf 1 Jahr terminiert

aus dem Zulassungsprospekt:

"The Company has entered into a letter of appointment with Dipesh Shah dated 3 July 2007, which has an initial term of one year commencing from 15 June 2007 and may be terminated by six months written notice by either party."

In der Marktlage, bei aller Skepsis den Chinesen und Solar gegenüber, welche die auf der Insel pflegen, kein Wunder dass der Kurs so abschmiert, vor allem, da die PR-Arbeit von Jetion nicht nur schlecht, sondern absolut dämlich ist ... oder absichtlich kontraproduktiv ... den wer wechslt Broker und Adviser vor dem Trading Update, noch dazu, wenn ein Direktor geht und der Chairm bald auch ???

Wahnsinn.

Und noch bekloppter, ich bin zum dritten Mal unter unter 90 cent rein ...