JETION Holdings - noch ein chinesisches PPVX-Mitglied - 500 Beiträge pro Seite
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Meistdiskutierte Wertpapiere
Platz | vorher | Wertpapier | Kurs | Perf. % | Anzahl | ||
---|---|---|---|---|---|---|---|
1. | 2. | 18.793,00 | +0,16 | 62 | |||
2. | 1. | 0,2170 | +3,33 | 48 | |||
3. | 3. | 168,47 | -2,04 | 28 | |||
4. | 4. | 0,1605 | -2,13 | 22 | |||
5. | 8. | 10,550 | +2,23 | 21 | |||
6. | 6. | 0,2980 | -3,87 | 18 | |||
7. | 5. | 2,5600 | -6,91 | 16 | |||
8. | 7. | 898,78 | +1,27 | 13 |
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???
Halbjahreszahlen sind für den 17.9. angekündigt.
Bis denne...
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???
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" target="_blank" rel="nofollow ugc noopener">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 ?
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" target="_blank" rel="nofollow ugc noopener">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 ?
Antwort auf Beitrag Nr.: 31.373.835 von meinolf67 am 03.09.07 14:28:40ich meinte natürlich "bei Emissionspreis von 151 pence", nicht 153 pence ...
Der Laden war übrigens schon im Gründungsjahr profitabel ... , spricht für die Strippenzieher im Hintergrund, und das sind ja keine Anfänger, wie es aussieht
Laut Webseite nun:
"Half year results 24th September 2007" und nicht 17.09.
"Half year results 24th September 2007" und nicht 17.09.
"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-pick…
http://blogs.barrons.com/techtraderdaily/2007/09/07/ubs-pick…
Noch ein Link,
sehr interessant auch bzgl. Jetion:
http://www.google.com/search?sourceid=navclient&ie=UTF-8&rls…
sehr interessant auch bzgl. Jetion:
http://www.google.com/search?sourceid=navclient&ie=UTF-8&rls…
@HansOhlemasse
Bist Du im Urlaub ? meld Dich mal...
Bist Du im Urlaub ? meld Dich mal...
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
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
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
Meinungen und Kommentare erwünscht.....
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.
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.
http://www.photon.de/ppvx/ppvx.htm
dieses Jahr die zweit schlechteste Performance im PPVX!
wären mal besser bei uns an die Börse gegangen...
dieses Jahr die zweit schlechteste Performance im PPVX!
wären mal besser bei uns an die Börse gegangen...
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
Hätten wirklich besser hier gelisted, aber Dipesh Shah ist ja britisch geprägt, wohl daher ...
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
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"
"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"
kennt jemand irgendwelche hebelprodukte auf den PPVX-Solaraktienindex?
wenn ja wie finde ich diese, gibt es dafür eine speziele internet-seite?
wenn ja wie finde ich diese, gibt es dafür eine speziele internet-seite?
aus PPVX rausgeflogen...
Antwort auf Beitrag Nr.: 31.998.494 von meinolf67 am 15.10.07 14:13:46
Antwort auf Beitrag Nr.: 32.001.861 von TeddyKGB am 15.10.07 16:34:39Pressemeldung Max Deml:
Jetion + Solarfabrik raus
Centrotherm + Manz rein...
Jetion + Solarfabrik raus
Centrotherm + Manz rein...
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).
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 )
jetion werd ich mal ein 1/2 liegenlassen - erscheinen doch recht günstig gegenüber stp, solf etc.pp
merci!
naja centrotherm hab ich ja auch...(Manz leider unter100 verkauft )
jetion werd ich mal ein 1/2 liegenlassen - erscheinen doch recht günstig gegenüber stp, solf etc.pp
Antwort auf Beitrag Nr.: 32.002.153 von TeddyKGB am 15.10.07 16:45:36Manz habe ich zu 40,- verkauft.
Solarworld zu 5,-.
Klasse Anleger, was?
Solarworld zu 5,-.
Klasse Anleger, was?
So, ich habe heute an der AIM noch mal nachgelegt und bin nun nur noch 15 % im Minus ...
Ansonsten: Interessante Meinung zu Jetion
http://investorschamp.blogspot.com/2007/09/jetionaimjhl-good…
http://investorschamp.blogspot.com/2007/09/jetionaimjhl-good…
Ansonsten: Interessante Meinung zu Jetion
http://investorschamp.blogspot.com/2007/09/jetionaimjhl-good…
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
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,-..... das ist wirklich bitter...
aber man darf wirklich manchmal nicht überlegen, wo man stände wenn man gewisse Positionen nicht verkauft hätte...
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...
aber man darf wirklich manchmal nicht überlegen, wo man stände wenn man gewisse Positionen nicht verkauft hätte...
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.: 32.047.165 von HansOhlemasse am 17.10.07 14:25:26sind die markierten Deine Käufe gewesen ???
Nee, so viel Kleingeld für 680.000 Stücke habe ich dann auch nicht cash rumliegen.
Antwort auf Beitrag Nr.: 32.043.242 von meinolf67 am 17.10.07 10:28:29wie ist denn Deine Einschätzung zu LDK? jetzt hab ich meinolf gleich mit LDK im Kopf gehabt...
es sollte natürlich Wie ist denn Deine Einschätzung zu jetion ? heißen...
es sollte natürlich Wie ist denn Deine Einschätzung zu jetion ? heißen...
News heute: Joint venture to boost European solar panel distribution.
Ebenso: Produktionserweiterung
http://www.iii.co.uk/investment/detail?code=cotn:JHL.L&displ…
http://www.iii.co.uk/investment/detail?code=cotn:JHL.L&displ…
http://www.iii.co.uk/investment/detail?code=cotn:JHL.L&displ…
http://www.iii.co.uk/investment/detail?code=cotn:JHL.L&displ…
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:
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&n…
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.
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&n…
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.
ooooops, jetzt hab ich das posting abgeschickt, obwohl esnocht nicht fertig war ... naja, egal.
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
Ein Punkt war noch, so ungefähr, was hinter Jetion wirklich steckt, würde man bei den Zahlen sehen, und die waren ja schon
News???
Hat dem Kurs bisher auch nicht geholfen.........
Wenn jemand mal Zeit hat wäre eine Analyse der letzten Zahlen ganz nett.
Wenn jemand mal Zeit hat wäre eine Analyse der letzten Zahlen ganz nett.
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 ...
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 ?
Werde meine Position in der nächsten Woche verdoppeln und dann entscheiden, wo ich denn den mentalen SL setze ... 98 pence ?
Bin nach wie vor an der Seitenlinie und beobachte das Ganze; vielleicht sammle ich jetz auch mal ein paar Stücke ein.....
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.
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.
öh, na super.
Sind die jetzt BILLICH oder am A r s c h ?
Sind die jetzt BILLICH oder am A r s c h ?
Ist noch wer dabei?
Bin noch nicht eingestiegen zum Glück.
Bin noch nicht eingestiegen zum Glück.
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 ...
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 ...
@ 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 ...
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 ... wenn an dem Laden nichts faul ist, verstehe ich es nicht, auch wenn ich Abschläge für kleine Newcomer nachvollziehen kann.
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 ... 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
Da gibts doch eine Regel: Vorsicht wenn alles zu perfekt erscheint
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.
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 ...
"Entgegen meiner Planung, werde ich bald wieder kaufen, aber erst, wenn Reversalbemühungen nachhaltig eingetroffen sind ..."
Thema Boden abwarten ...
Bin gespannt wann hier der Boden erreicht ist.......
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
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
Zum ersten Mal bin ich im Plus bei dieser Aktie ... auf 100p und die rein-raus Verluste sind auf wettgemacht, oh mann.
Ok, nich mehr im Plus , aber dafür habe ich meine Aktienanzahl an der AIM um 50% erhöht die letzten zwei Wochen
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 .
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…
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...
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...
Aber igendwas ist doch hier faul? Das Papier tankt sich von einem Tief zum nächsten.....
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=309…
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=309…
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 ...
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 ...
Wieviele Aktien sind denn eigentlich in Deutschland und London jeweils gelistet ?
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 ?
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 ?
Ich kaufe. Mir egal, was die anderen sagen.
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…
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)
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…
(Den Link kopieren und in die Adresszeile des Browsers einfügen, da eine direkte Verlinkung über WO nicht möglich ist).
siehe LINK:
http://www.iii.co.uk/investment/detail.epl?code=cotn%3AJHL.L…
(Den Link kopieren und in die Adresszeile des Browsers einfügen, da eine direkte Verlinkung über WO nicht möglich ist).
beim posting musst Du nur links auf URL einfügen klicken
http://www.iii.co.uk/investment/detail?code=cotn:JHL.L&displ…
http://www.iii.co.uk/investment/detail?code=cotn:JHL.L&displ…
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.
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 ?
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 ?
zur Not kann man auch auf Preview drücken und den Link ausprobieren. Aber ich will Deine Gehirnzellen am frühen Morgen nicht mit so einfachen Tip sstrapazieren...
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 !
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
Ansonsten: Jeder muss selbst recherchieren und entscheiden, denn Aktien können auch fallen
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.
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.
Bodenbildung abwarten ... im Nachhinein kann man nun sagen, dass dort, wo ich im Dezember eingesammelt habe, der Boden war
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. ?
"#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. ?
Nein, mir hat das nicht gefallen.
Gabs heute News oder woher der Kurssprung?
PS: Ich kann derzeit immer noch deutlich günstiger rein, als bei Erstaufnahme auf die Watchlist.
Gabs heute News oder woher der Kurssprung?
PS: Ich kann derzeit immer noch deutlich günstiger rein, als bei Erstaufnahme auf die Watchlist.
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.
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"
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."
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."
Wie ist deine weitere Prognose Heinz?
Ups, Hans natürlich!
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.
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.
Tja, während die Spezialisten auf FSE Aktien verkaufen,
steigt der Jetion Kurs in London heute gegen das Marktumfeld an ...
steigt der Jetion Kurs in London heute gegen das Marktumfeld an ...
+12% heute in London ... Ask 1,97 Euro an der FSE
Geht doch.
Geht doch.
Jetion ist eher antizyklisch ...
Kurs Jetion 2008, Quelle Cortal-Consors:
1 Woche +24,89%
1 Monat +67,71%
laufendes Jahr +55,38%
Kurs Jetion 2008, Quelle Cortal-Consors:
1 Woche +24,89%
1 Monat +67,71%
laufendes Jahr +55,38%
Jetion
2,00 EUR +17,65%
2,00 EUR +17,65%
OK, bei dem FSE Umsatz ... zumindest jetzt in FSE nicht mehr unter Pari ...
Jetion
2,04 EUR HEUTE +20,65%
Jetion
2,04 EUR HEUTE +20,65%
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 ...
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 ?!
Womit das Gap zu wäre, die 200er berührt und evtl. noch die graue Linie, der Ordnung halber, wäre schön wenn die letzte beiden halten ...
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.
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
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.
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.
Zahlen kommen am 31.03.08:
Linie getroffen ;-), na dann man schauen, was bis zu den Zahlen damit passiert.
Grund für den Absturz chin. Solaraktien ?
http://biz.yahoo.com/ap/080319/asia_adrs_in_focus.html?.v=1
http://biz.yahoo.com/ap/080319/asia_adrs_in_focus.html?.v=1
Das Teil liegt ja schwer wie Blei am Boden. Was ist los?
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.
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.
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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
auf dem englischen Board (iii.co.uk) hat einer
ein
KGV 08
von
8,2
errechnet.
Hab ich auch so per Daumen raus. Scheinbar soll das bei diese Aktien so sein.
ein
KGV 08
von
8,2
errechnet.
Hab ich auch so per Daumen raus. Scheinbar soll das bei diese Aktien so sein.
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
"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.: 33.066.194 von HansOhlemasse am 16.01.08 12:40:16Malerei, Dreiecksziel? Wer weiß ...
Meine "China-Solar-Watchlist" ist dunkelgrün, bis auf Jetion natürlich.
Die Zahlen von Jetion schauen ja eigentlich gar nicht so schlecht aus.
Die Zahlen von Jetion schauen ja eigentlich gar nicht so schlecht aus.
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 ,
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.
Das ist hier eine KGV 8 Aktie. Das soll wohl so sein ,
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.
Falls das Ding wieder über die obere rote Linie kommt, dann wäre Phantasie drin ...
Antwort auf Beitrag Nr.: 33.923.272 von HansOhlemasse am 18.04.08 21:44:05Der Boden bei 90 Pence scheint zu halten.
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.
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.'
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.'
Herzlichen Glückwunsch...
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.
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.
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.
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.
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
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
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.
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 ...
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 ...
Es gab evtl. mehrere Gründe für beide Seiten, den Vertrag nicht zu verlängern ... man wechselte gegen die Empfehlung von Shah den Broker während eines schlechten Marktumfeldes und neben anderen persönlichen Spannungen war er dann wohl richtig sickig (man beachte wie die Struktur der Firma ist) ... und am Ende war er nicht mehr mit seiner Vergütung zufrieden.
So schön sich das Trading Update liest, es nimmt keinen Bezug zu den Schätzungen/Erwartungen und liest sich deutlich anders als das letzte Update, so gesehen ist die Frage, ob da evtl. auch Enttäuschungen anstehen ... ?
Man wird sehen ... zumindest vom KGV her ist diese Solaraktie nach wie vor der Treppenwitz der Branche ... man glaubt es kaum.
So schön sich das Trading Update liest, es nimmt keinen Bezug zu den Schätzungen/Erwartungen und liest sich deutlich anders als das letzte Update, so gesehen ist die Frage, ob da evtl. auch Enttäuschungen anstehen ... ?
Man wird sehen ... zumindest vom KGV her ist diese Solaraktie nach wie vor der Treppenwitz der Branche ... man glaubt es kaum.
Antwort auf Beitrag Nr.: 34.518.067 von HansOhlemasse am 16.07.08 10:59:01Da muss ich mir wohl noch mal die alten Berichte vornehmen. So lange beschäftige ich mich noch nicht mit der Firma. In den Kursverlauf würde ich aber auch nicht zu viel hinein zu interpretieren versuchen.
Die Aktie ist in einem breiten Abwärtskanal. Mit 3 Hochpunkten. Nachdem der Breakout misslang jetzt die heftige Gegenreaktion. Marktumfeld und unglückliche Meldungen spielen da auch eine Rolle mit. Unklar ist für mich noch, wie sich die absehbare Änderung der Förderungen in Spanien auf das Unternehmen auswirkt. Und die miese Wirtschaftslage dort. Das ist auf alle Fälle ein Unsicherheitsfaktor.
Technisch notiert die Aktie jetzt an der unteren Begrenzung des Abwärtskanals. Die liegt aktuell so bei 68 Pence. Das sollte stützen. Plus der sehr moderaten Bewertung, in die schon so einiges an potenziell miesem eingepreist ist.
MfG.
s.
Die Aktie ist in einem breiten Abwärtskanal. Mit 3 Hochpunkten. Nachdem der Breakout misslang jetzt die heftige Gegenreaktion. Marktumfeld und unglückliche Meldungen spielen da auch eine Rolle mit. Unklar ist für mich noch, wie sich die absehbare Änderung der Förderungen in Spanien auf das Unternehmen auswirkt. Und die miese Wirtschaftslage dort. Das ist auf alle Fälle ein Unsicherheitsfaktor.
Technisch notiert die Aktie jetzt an der unteren Begrenzung des Abwärtskanals. Die liegt aktuell so bei 68 Pence. Das sollte stützen. Plus der sehr moderaten Bewertung, in die schon so einiges an potenziell miesem eingepreist ist.
MfG.
s.
Auch die Times ist der Meinung, schlechte PR-Arbeit ist/war Jetion's gröter Beitrag zum Kuraabsturz ...
Timesonline
"July 16, 2008
Market takes a shine to Jetion
Smaller companies
Robert Lindsay
Perhaps the lesson to be learnt from the story of Jetion yesterday is that of communication, communication, communication. The Chinese solar cell manufacturer announced that it had managed to double capacity at its factory three months ahead of schedule and that it was already running at full strength – and the shares rose 4¾p to 75p.
That is still less than half their float price of 151p a year ago, a slump that has much to do with a perception that it has not communicated well enough with the market. The management changed broker from Collins Stewart to Evolution China two weeks ago and shortly afterwards Dipesh Shah, the chairman and one of the few nonChinese on the board, left. He was close to Collins and he and the broker appear to have been blamed for the shares’ performance. There is talk that Evolution might orchestrate a secondary flotation in Hong Kong. Raymond Greaves, a Collins Stewart analyst, raised his earnings forecasts by 10 per cent to $24 million and reiterated his target price of 200p.
Many Jetion directors have defected from its peers JA Solar and Suntech, whose US-listed shares are rated at multiples four times higher than Jetion’s, and there is talk that either company might be tempted to bid. "
http://business.timesonline.co.uk/tol/business/markets/artic…
Timesonline
"July 16, 2008
Market takes a shine to Jetion
Smaller companies
Robert Lindsay
Perhaps the lesson to be learnt from the story of Jetion yesterday is that of communication, communication, communication. The Chinese solar cell manufacturer announced that it had managed to double capacity at its factory three months ahead of schedule and that it was already running at full strength – and the shares rose 4¾p to 75p.
That is still less than half their float price of 151p a year ago, a slump that has much to do with a perception that it has not communicated well enough with the market. The management changed broker from Collins Stewart to Evolution China two weeks ago and shortly afterwards Dipesh Shah, the chairman and one of the few nonChinese on the board, left. He was close to Collins and he and the broker appear to have been blamed for the shares’ performance. There is talk that Evolution might orchestrate a secondary flotation in Hong Kong. Raymond Greaves, a Collins Stewart analyst, raised his earnings forecasts by 10 per cent to $24 million and reiterated his target price of 200p.
Many Jetion directors have defected from its peers JA Solar and Suntech, whose US-listed shares are rated at multiples four times higher than Jetion’s, and there is talk that either company might be tempted to bid. "
http://business.timesonline.co.uk/tol/business/markets/artic…
Nachtrag:
Man beachte das angegebene Kursziel in dem Artikel, an welchem seit Float von Collins Stewart festgehalten wird:
200pence
Derzeit 82 pence ... ;-)
Man beachte das angegebene Kursziel in dem Artikel, an welchem seit Float von Collins Stewart festgehalten wird:
200pence
Derzeit 82 pence ... ;-)
Kursziel deckt sich mit meiner Rechnung. Knapp ein Jahresumatz bei Vollauslastung. Wäre moderat faire Bewertung.
Potenzielles Zweitlisting in Hongkong wüde mir nicht so schmecken, wegen der Verwässerung.
Ich denke, für den Kurs wäre es besser, wenn die das Wachstum aus dem laufenden Cashflow finanzieren würden. Hoffe eigentlich, das wäre möglich.
MfG.
s.
Potenzielles Zweitlisting in Hongkong wüde mir nicht so schmecken, wegen der Verwässerung.
Ich denke, für den Kurs wäre es besser, wenn die das Wachstum aus dem laufenden Cashflow finanzieren würden. Hoffe eigentlich, das wäre möglich.
MfG.
s.
Antwort auf Beitrag Nr.: 34.529.191 von stupidgame am 17.07.08 14:29:31Bewertung:
Ein KGV von 6,xx für 2008 und von 4,xx für 2009 bezeichne ich nicht als "moderat fair bewertet" . Naja egal.
Zweitlisting Hongkong:
Ich hoffe darauf, dass die Chinesen den Kurs treiben, denn die skeptischen Engländer konnten bisher nichts mit Solar und Chinesischen Firmen anfangen und schon gar nicht in der Komination "chinesische Solarfirma" LOL. Lieber Verwässerung, als die AIM als einzige kursbestimmende Börse.
Ein KGV von 6,xx für 2008 und von 4,xx für 2009 bezeichne ich nicht als "moderat fair bewertet" . Naja egal.
Zweitlisting Hongkong:
Ich hoffe darauf, dass die Chinesen den Kurs treiben, denn die skeptischen Engländer konnten bisher nichts mit Solar und Chinesischen Firmen anfangen und schon gar nicht in der Komination "chinesische Solarfirma" LOL. Lieber Verwässerung, als die AIM als einzige kursbestimmende Börse.
Sorry, Du meintest 200pence wäre ein moderat faire Bewertung, oder ?
Dem stimme ich zu.
Dem stimme ich zu.
Antwort auf Beitrag Nr.: 34.530.937 von HansOhlemasse am 17.07.08 17:13:44Sorry, Du meintest 200pence wäre ein moderat faire Bewertung, oder ?
Dem stimme ich zu.
Jo, war wohl misverständlich ausgedrückt.
Also, ich habe echt wenig Ahnung von Solar. Bin erst seit wenigen Monaten überhaupt bei dem Sektor dabei. Muss aber selber sagen, wie es ausschaut, habe ich da ein ausgesprochen glückliches Händchen.
Erst Renesola von 7,80$ auf 25$. Dort verkauft und bei 12,06$ wieder rein.
Dann Jetion. Hier ist mein Mischkurs etwa 73,75 Pence.
Anfängerglück?
Ansonsten habe ich aber schon 20 Jahre Börsenerfahrung...
Gruss
s.
Dem stimme ich zu.
Jo, war wohl misverständlich ausgedrückt.
Also, ich habe echt wenig Ahnung von Solar. Bin erst seit wenigen Monaten überhaupt bei dem Sektor dabei. Muss aber selber sagen, wie es ausschaut, habe ich da ein ausgesprochen glückliches Händchen.
Erst Renesola von 7,80$ auf 25$. Dort verkauft und bei 12,06$ wieder rein.
Dann Jetion. Hier ist mein Mischkurs etwa 73,75 Pence.
Anfängerglück?
Ansonsten habe ich aber schon 20 Jahre Börsenerfahrung...
Gruss
s.
Antwort auf Beitrag Nr.: 34.536.270 von stupidgame am 18.07.08 11:52:14PS: Renesola hatte das zusätzliche Listing in USA ja auch zunächst nen Kursschub gebracht ... und wenn die dadruch nocheinmal die Kapazität verdoppeln, gerne ...
PPS: bei etwas über 80 pence liege ich nun ... mal sehen, ob der neue Broker, der ja genommen wurde, um die Aktie besser bekannt zu machen als der alte, mehr Investoren erreicht ..., das letzte Statement war kein Kommunikationsmeisterstück ...
PPS: bei etwas über 80 pence liege ich nun ... mal sehen, ob der neue Broker, der ja genommen wurde, um die Aktie besser bekannt zu machen als der alte, mehr Investoren erreicht ..., das letzte Statement war kein Kommunikationsmeisterstück ...
Bei Kursziel 200pence käme bis nächstes Jahr evtl. noch ein Währungshebel dazu, wenn der Euro wieder schwächer wird (wer will kann da ja ne' Bodenbildung in den Chart reininterpretieren) ...
Antwort auf Beitrag Nr.: 34.536.413 von HansOhlemasse am 18.07.08 12:08:28Wechselkursgewinne sind nicht unwahrscheinlich.
Aktuell ist mir aufgefallen, dass die Solaraktien in USA gestern korrigiert haben. Wenn der Markt hier jetzt doch eine Korrrelation mit dem Ölpreis herstellt, dann kann es doch nochmal eine Ecke runtergehen. Auch ich rechne eigentlich mit einer weiteren technischen Korrektur beim Öl.
Muss man schauen. Bei Rene lasse ich mich evtl. ausstoppen bei Bruch des kurzfristigen Aufwärtstrends.
Bei Jetion bleibe ich investiert. Hier würde ich nur nachkaufen. Rechne aber kaum damit, dass ich nochmal Kurse unter meinem Einstand bekomme.
Da müssten entweder die Märkte komplett kollabieren oder Jetion absolut katastrophale Halbjahreszahlen melden. (Ich rechne übrigens mit einem Netto-Gewinn um die 7mUSD.)
Gruss
s.
Aktuell ist mir aufgefallen, dass die Solaraktien in USA gestern korrigiert haben. Wenn der Markt hier jetzt doch eine Korrrelation mit dem Ölpreis herstellt, dann kann es doch nochmal eine Ecke runtergehen. Auch ich rechne eigentlich mit einer weiteren technischen Korrektur beim Öl.
Muss man schauen. Bei Rene lasse ich mich evtl. ausstoppen bei Bruch des kurzfristigen Aufwärtstrends.
Bei Jetion bleibe ich investiert. Hier würde ich nur nachkaufen. Rechne aber kaum damit, dass ich nochmal Kurse unter meinem Einstand bekomme.
Da müssten entweder die Märkte komplett kollabieren oder Jetion absolut katastrophale Halbjahreszahlen melden. (Ich rechne übrigens mit einem Netto-Gewinn um die 7mUSD.)
Gruss
s.
Ich wunderte mich über das Volumen in DE und dachte mir, dat kann nur wieder sowat jewesen sein, s.u ... LOL ;-)
Jetion Holdings klarer Verdopplungskandidat
08.09.2008
Emerging Markets Investor
Endingen (aktiencheck.de AG) - Für die Experten von "Emerging Markets Investor" ist die Aktie von Jetion Holdings (ISIN VGG5113P1009 / WKN A0MWQ8) ein klarer Verdopplungskandidat.
Seit seinem Börsengang habe der Titel von 175 auf 87 GBp nachgegeben. Dabei stecke hinter Jetion Holdings die schnellstwachsende und günstigste Solar-Aktie aus China.
Anzeige
Der Hersteller von Solarzellen und Solarmodulen habe den Umsatz im Zeitraum 2005 bis 2007 von 0,3 auf über 100 Mio. USD ausgeweitet. Die Analysten von Evolution Securities würden für dieses Jahr eine Umsatzverdopplung auf 200 Mio. USD und für 2010 einen Anstieg auf 434 Mio. USD prognostizieren. Der Gewinn solle zwischen 2006 und 2010 von 5 auf 50 Mio. USD gesteigert werden. Im Hinblick auf eine Marktkapitalisierung von 120 Mio. USD würde das KGV bis dahin auf 2,5 sinken.
Das Unternehmen habe vor Kurzem mitgeteilt, dass die aktuellen Geschäfte sehr gut laufen würden und man über dem Niveau des Vorjahres liege. Damit stehe die Aktienkursentwicklung im krassen Widerspruch zur Geschäftsentwicklung.
Für die Experten von "Emerging Markets Investor" ist die Aktie von Jetion Holdings ein klarer Verdopplungskandidat. (Ausgabe 17 vom 08.09.2008)
(08.09.2008/ac/a/a)
http://www.aktiencheck.de/artikel/analysen-Ausland-1804165.h…
Jetion Holdings klarer Verdopplungskandidat
08.09.2008
Emerging Markets Investor
Endingen (aktiencheck.de AG) - Für die Experten von "Emerging Markets Investor" ist die Aktie von Jetion Holdings (ISIN VGG5113P1009 / WKN A0MWQ8) ein klarer Verdopplungskandidat.
Seit seinem Börsengang habe der Titel von 175 auf 87 GBp nachgegeben. Dabei stecke hinter Jetion Holdings die schnellstwachsende und günstigste Solar-Aktie aus China.
Anzeige
Der Hersteller von Solarzellen und Solarmodulen habe den Umsatz im Zeitraum 2005 bis 2007 von 0,3 auf über 100 Mio. USD ausgeweitet. Die Analysten von Evolution Securities würden für dieses Jahr eine Umsatzverdopplung auf 200 Mio. USD und für 2010 einen Anstieg auf 434 Mio. USD prognostizieren. Der Gewinn solle zwischen 2006 und 2010 von 5 auf 50 Mio. USD gesteigert werden. Im Hinblick auf eine Marktkapitalisierung von 120 Mio. USD würde das KGV bis dahin auf 2,5 sinken.
Das Unternehmen habe vor Kurzem mitgeteilt, dass die aktuellen Geschäfte sehr gut laufen würden und man über dem Niveau des Vorjahres liege. Damit stehe die Aktienkursentwicklung im krassen Widerspruch zur Geschäftsentwicklung.
Für die Experten von "Emerging Markets Investor" ist die Aktie von Jetion Holdings ein klarer Verdopplungskandidat. (Ausgabe 17 vom 08.09.2008)
(08.09.2008/ac/a/a)
http://www.aktiencheck.de/artikel/analysen-Ausland-1804165.h…
[Auszüge ohne Tabellen]
BÖRSE INSIDE präsentiert
JETION HOLDINGS
Billigste chinesische Solar-Aktie
mit KGV 2!
Von 2005 bis 2007 explodierte der Umsatz von JETION HOLDINGS von USD 0.3 Mio. auf über USD 100 Mio.
Im laufenden Jahr erwarten die Analysten von Evolution Securities bei Umsätzen von USD 222 Mio. einen Net Profit von USD 20.8 Mio.
In der kommenden Woche wird JETION HOLDINGS seine Halbjahresergebnisse präsentieren, bereits im Vorfeld sprach das Management von einem ausgezeichneten Verlauf des ersten Halbjahres.
Mit der Fertigstellung neuer Produktionslinien bis Ende 2009 stellt JETION HOLDINGS die Weichen für ein weiterhin außergewöhnlich schnelles Wachstum.
Auf Basis der Schätzungen von Evolution Securities fällt das KGV von JETION HOLDINGS von 5.7 im laufenden Jahr auf 3.6 im kommenden und auf 2.3 im übernächsten Geschäftsjahr zurück.
Während die Peer-Group ein durchschnittliches KGV von rund 10 aufweist ist JETION HOLDINGS derzeit die wohl mit Abstand billigste chinesische Solaraktie.
Das Kursziel für die Aktie von JETION HOLDINGS wurde von den Analysten von Evolution Securities im Anschluss an eine Road Show von GBp 165 auf GBp 190 angehoben, während der Titel aktuell gerade einmal bei GBp 85 notiert.
JETION HOLDINGS wird in der aktuell in das Musterdepot von HOT STOCKS EUROPE aufgenommen, das in den vergangenen 5 Jahren stets eine Jahresperformance zwischen 60% und 100% ausweisen konnte.
Liebe Leserin,
Lieber Leser,
Mit JETION HOLDINGS ist die billigste chinesische Solar-Aktie in LONDON notiert! Die Unternehmensgeschichte ist bislang ein einziger Erfolg: Als Hersteller von Solarzellen und Solarmodulen nahm die Gesellschaft mit der Fertigstellung ihrer ersten Produktionslinie 2005 den Vertrieb auf. Damals betrug die Kapazität 25 MW pro Jahr, die in den beiden Folgejahren auf 50 MW verdoppelt werden konnte. Bis Ende des Jahres soll die Produktionskapazität nun auf 100MW ausgebaut sein. Die beiden neuen Produktionslinien sind bereits komplett installiert und getestet und sollen den Betrieb noch im laufenden Quartal aufnehmen. Entsprechend stark zeigte sich in den vergangenen Jahren die Umsatz- und Ergebnisentwicklung bei JETION HOLDINGS: 2007 meldete das Unternehmen einen Umsatzanstieg von USD 45.5 Mio. auf USD 106.9 Mio., der Nettogewinn legte von USD 5 Mio. auf USD 7.9 Mio. zu. Auch für das erste Halbjahr 2008 stellte die Company im Rahmen einer Roadshow ein kräftiges Wachstum und ausgezeichnete Ergebnisse in Aussicht, woraufhin die Analysten von Evolution Securities ihre Gewinnschätzungen nochmals leicht angehoben haben:
Im Gesamtjahr 2008 dürfte JETION HOLDINGS bei Umsätzen von USD 222 Mio. einen Nettogewinn in Höhe von USD 20.8 Mio. ausweisen! Für das kommende Geschäftsjahr erwarten die Analysten bei Umsätzen von USD 330.5 Mio. einen Net Profit von USD 33.1 Mio.! Und: Ende 2009 soll die nächste Ausbaustufe fertig gestellt sein, die die Gesamtkapazität von JETION HOLDINGS auf 175 MW per anno ansteigen lässt. So sollen bereits 2010 Umsätze von USD 487.8 Mio. sowie ein Nettogewinn von USD 50.1 Mio. möglich sein. Die aktuelle Market-Cap ist vor diesem Hintergrund lächerlich gering: Eine Marktkapitalisierung von aktuell nur USD 116 Mio. bedeutet schon auf Basis der diesjährigen Gewinnschätzungen ein KGV von 5.7, das in den beiden kommenden Jahren auf 3.6 bzw. 2.3 (!) zurückbuchstabiert wird. Damit ist JETION HOLDINGS zweifelsfrei die billigste chinesische Solar-Aktie, was auch der Peer-Group-Vergleich der Kollegen von Evolution Securities noch einmal bestätigt: Im Branchenvergleich wird die Aktie derzeit mit einem historisch hohen Discount von 64% gehandelt, im Schnitt bekommen chinesische Solarzellen- bzw. Modulhersteller ein KGV von knapp 10 per 2009 zugebilligt! Das Kursziel der Analysten wurde in der vergangenen Woche von GBp 165 auf GBp 190 angehoben, bei einem aktuellen Kurs von GBp 88 entspricht dies einem Kurspotenzial von 115%. Der Startschuss für eine mögliche Kursrallye könnte indes schon in Kürze fallen, wenn das Unternehmen in der kommenden Woche seine Halbjahreszahlen präsentieren wird. Wir würden daher keine Sekunde zögern, hier mit einer Startposition einen Fuß in die Tür zu stellen!
(WKN A0M WQ8, Kurs aktuell EUR 1.04, Reuters JHL)
Bei JETION HOLDINGS handelt es sich um eine der Topempfehlungen des HOT STOCKS EUROPE.
Verlieren Sie keine Zeit und holen Sie sich sämtliche Informationen zu unseren neuen Top-Empfehlungen und verdienen Sie wie unsere Leser in den kommenden Jahren ein Vermögen! Testen Sie nun 2 Ausgaben von HOT STOCKS EUROPE völlig kostenlos und machen Sie sich 4 Wochen lang ein Bild des vielleicht erfolgreichsten deutschsprachigen Börsenbriefes der vergangenen Jahre!
Machen Sie sich diese Kompetenz unseres Analystenteams zu nutze und legen Sie jetzt den Grundstein für eine fantastische Performance, wie Sie unsere Leser Ausgabe für Ausgabe, Monat für Monat und Jahr für Jahr erzielen!
Ihr Link zum kostenlosen Test-Abo:
http://www.hot-stocks-europe.de/probeabo.shtml
Mit freundlichen Grüssen
Arno Ruesch
Vorstand Börse Inside Verlag AG
Disclaimer:
Bei diesem Text handelt es sich um eine Werbeaussendung für Börseninformationsdienste der BÖRSE INSIDE Verlag AG! Die in Auszügen oder vollständig dargestellten Analysen sind somit keinesfalls als Kaufempfehlung zu verstehen. Indirekte sowie direkte Regressinanspruchnahme und Gewährleistung muss trotz akkuratem Research und der Sorgfaltspflicht verbundenen Prognostik kategorisch ausgeschlossen werden. Insbesondere gilt dies für Leser, die unsere Investmentanalysen in eigene Anlagedispositionen umsetzen. So stellen weder unsere Musterdepots noch unsere Einzelanalysen zu bestimmten Wertpapieren einen Aufruf zur individuellen oder allgemeinen Nachbildung, auch nicht stillschweigend, dar. Handelsanregungen oder Empfehlungen in diesem Newsletter stellen keine Aufforderung von Kauf oder Verkauf von Wertpapieren oder derivativen Finanzprodukten dar. Eine Haftung für mittelbare und unmittelbare Folgen der veröffentlichten Inhalte ist somit ausgeschlossen. Die Redaktion bezieht Informationen aus Quellen, die sie als vertrauenswürdig erachtet. Eine Gewähr hinsichtlich Qualität und Wahrheitsgehalt dieser Informationen muss dennoch ausgeschlossen werden. Dieser Newsletter darf keinesfalls als persönliche oder auch allgemeine Beratung aufgefasst werden, auch nicht stillschweigend, da wir mittels veröffentlichter Inhalte lediglich unsere subjektive Meinung reflektieren.
Hinweis auf mögliche Interessenskonflikte nach §34b WpHG:
Der Verlag oder nahestehende Dritte können Positionen in den analysierten und an dieser Stelle vorgestellten Anlagen eingegangen sein. Gemäß den Compliance-Richtlinien des Verlages geschieht dies bei erstmalig empfohlenen Werten allerdings nicht, bevor die entsprechende Empfehlung im frei zugänglichen „Trading Corner“ unter der Internetadresse www.boerse-inside.de veröffentlicht wurde. Die Aktualisierung dieses Bereiches findet werktäglich bis 14:30 Uhr MEZ statt. Sind solche Eigenpositionen eingegangen worden, so profitiert der Verlag oder nahestehende Dritte von allfälligen Kurssteigerungen in diesen Titeln. Diese Positionen können jederzeit – also vor, während und nach der Veröffentlichung von Analysen – ohne vorherige Bekanntgabe liquidiert werden, was unter Umständen einen belastenden Effekt für die Kursentwicklung bedeutet. Bei allen Kurszielen, die in den veröffentlichten Aktienanalysen genannt werden, handelt es sich lediglich um Einzelmeinungen des Analysten, so dass Positionsglattstellungen von Eigenpositionen auch jederzeit vor Erreichen dieser Kursziele erfolgen können.
Folgende Interessenkonflikte können bei der Börse Inside Verlag AG im Zusammenhang mit der Erstellung von Finanzanalysen grundsätzlich auftreten:
Die Finanzanalyse ist im Auftrag des analysierten Unternehmens entgeltlich erstellt worden.
Die Finanzanalyse wurde dem analysierten Unternehmen vor Veröffentlichung vorgelegt und hinsichtlich berechtigter Einwände geändert.
Die Börse Inside Verlag AG und/oder ein verbundenes Unternehmen halten Long- oder Shortpositionen an dem analysierten Unternehmen. (Siehe auch Disclaimer auf homepage www.boerse-inside.de)
Der Ersteller und/oder an der Erstellung mitwirkende Personen/Unternehmen halten Long- oder Shortpositionen an dem analysierten Unternehmen.
Die Börse Inside Verlag AG führt Aktien des hier analysierten Unternehmens in einem (virtuellen) Musterdepot des Börse Inside Premium Investorclubs oder in einer der 30%-Aktienanalysen.
Die Börse Inside Verlag AG und/oder nahe stehende Personen sind am Platzierungserfolg dieser Aktie beteiligt. Sie profitieren von einer positiven Kursentwicklung.
In der vorliegenden Finanzanalyse sind folgende der o.g. möglichen Interessenkonflikte gegeben: -
Leser, die auf Grund der in diesem Newsletter veröffentlichten Inhalte Anlageentscheidungen treffen bzw. Transaktionen durchführen, handeln vollständig auf eigene Gefahr. Die in diesem Newsletter oder anderweitig damit im Zusammenhang stehenden Informationen begründen somit keinerlei Haftungsobligo. Im Hinblick auf Geschäfte mit Optionsscheinen weisen wir auf die besonders hohen Risiken hin. Der Handel mit Optionsscheinen ist ein Börsentermingeschäft. Den erheblichen Chancen stehen entsprechende Risiken bis hin zum Totalverlust gegenüber. Nur wer gem. § 53 Abs. 2 BörsenG die bei Banken und Sparkassen ausliegende Broschüre "Basisinformationen über Börsentermingeschäfte" und das Formular "Verlustrisiken bei Börsentermingeschäften" gelesen und verstanden hat, darf am Handel mit Optionsscheinen teilnehmen. Dieser Newsletter erfüllt diese Aufklärungsfunktion nicht. Wer aufgrund der Handelsanregungen in diesem Newsletter Optionsscheingeschäfte tätigt, erklärt damit ausdrücklich, über die geforderte Börsentermingeschäftsfähigkeit zu verfügen und sich somit aller Risiken bewusst zu sein.
Ausdrücklich weisen wir auf die im Wertpapiergeschäft immer vorhandenen erheblichen Risiken hin. Aktieninvestitionen sowie Optionsscheingeschäfte, der Handel mit derivativen Finanzprodukten als auch Anlagen in Investmentfonds beinhalten das Risiko enormer Wertverluste. Insbesondere gilt dies auch im Zusammenhang mit dem börslichen und vorbörslichen Handel von Neuemissionen, bei Auslandsaktien oder an ausländischen Börsen notierten Werten und bei Anlagen in nicht börsennotierte Unternehmen, wie dies bei Venture Capital-Anlagen der Fall ist. Ein Totalverlust des eingesetzten Kapitals kann dabei keineswegs ausgeschlossen werden. Eigenverantwortliche Anlageentscheidungen im Wertpapiergeschäft darf der Anleger nur bei eingehender Kenntnis der Materie in Erwägung ziehen, in jedem Falle aber ist die Inanspruchnahme einer persönlichen Beratung der Haus- und/oder Depotbank unbedingt zu empfehlen.
In diesem Newsletter befinden sich u.a. im Rahmen von Werbeanzeigen gelegentlich Hyperlinks zu anderen Seiten im Internet. Für alle diese Links gilt: Die BÖRSE INSIDE Verlag AG erklärt als Betreiberin dieses Newsletters ausdrücklich, keinerlei Einfluss auf die Gestaltung und die Inhalte der gelinkten Seiten zu haben. Daher distanziert sich die BÖRSE INSIDE Verlag AG hiermit ausdrücklich von den Inhalten aller verlinkten Seiten und macht sich deren Inhalte ausdrücklich nicht zu Eigen. Diese Erklärung gilt für alle in den Seiten vorhandenen Hyperlinks, ob angezeigt oder verborgen, und für alle Inhalte der Seiten, zu denen diese Hyperlinks führen.
Die Erstellung von Studien, Researchberichten und sämtlichen anderen Publikationen der Börse Inside Verlag AG erfolgt unter Berücksichtigung des deutschen Rechts. In anderen Rechtsordnungen kann die Verteilung durch Gesetz beschränkt sein und Personen, in deren Besitz diese Studie gelangt, sollten sich über etwaige Beschränkungen informieren und diese einhalten. Vor diesem Hintergrund distanziert sich die Börse Inside Verlag AG insbesondere von jeder Verbreitung in den USA und Grossbritannien. Hier dürfen die Publikationen ausschiesslich institutionellen Investoren bzw. Market Professionals zugänglich gemacht werden. Die Veröffentlichungen sind nicht für Privatkunden bestimmt. Eine Verteilung an Privatinvestoren bzw. Privatkunden ist nicht beabsichtigt und wird auch nicht mit Wissen des Verlages vorgenommen.
--------------------------------------------------------------------------------
Copyright 2008 BÖRSE INSIDE Verlag AG - Alle Rechte vorbehalten!
BÖRSE INSIDE Verlag AG
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Postfach 1154
D-79343 Endingen
Tel: 07642-90778-22
Fax: 07642-90778-29
eMail: aboservice@boerse-inside.de Ansprechpartner:
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Tel: 07642-90778-21
Fax: 07642-90778-29
eMail: w.ruesch@boerse-inside.de
Bitte richten Sie Anfragen bzgl. unserer Produkte an aboservice@boerse-inside.de
Anfragen bzgl. Werbung oder Kooperationen richten Sie bitte an w.ruesch@boerse-inside.de
BÖRSE INSIDE präsentiert
JETION HOLDINGS
Billigste chinesische Solar-Aktie
mit KGV 2!
Von 2005 bis 2007 explodierte der Umsatz von JETION HOLDINGS von USD 0.3 Mio. auf über USD 100 Mio.
Im laufenden Jahr erwarten die Analysten von Evolution Securities bei Umsätzen von USD 222 Mio. einen Net Profit von USD 20.8 Mio.
In der kommenden Woche wird JETION HOLDINGS seine Halbjahresergebnisse präsentieren, bereits im Vorfeld sprach das Management von einem ausgezeichneten Verlauf des ersten Halbjahres.
Mit der Fertigstellung neuer Produktionslinien bis Ende 2009 stellt JETION HOLDINGS die Weichen für ein weiterhin außergewöhnlich schnelles Wachstum.
Auf Basis der Schätzungen von Evolution Securities fällt das KGV von JETION HOLDINGS von 5.7 im laufenden Jahr auf 3.6 im kommenden und auf 2.3 im übernächsten Geschäftsjahr zurück.
Während die Peer-Group ein durchschnittliches KGV von rund 10 aufweist ist JETION HOLDINGS derzeit die wohl mit Abstand billigste chinesische Solaraktie.
Das Kursziel für die Aktie von JETION HOLDINGS wurde von den Analysten von Evolution Securities im Anschluss an eine Road Show von GBp 165 auf GBp 190 angehoben, während der Titel aktuell gerade einmal bei GBp 85 notiert.
JETION HOLDINGS wird in der aktuell in das Musterdepot von HOT STOCKS EUROPE aufgenommen, das in den vergangenen 5 Jahren stets eine Jahresperformance zwischen 60% und 100% ausweisen konnte.
Liebe Leserin,
Lieber Leser,
Mit JETION HOLDINGS ist die billigste chinesische Solar-Aktie in LONDON notiert! Die Unternehmensgeschichte ist bislang ein einziger Erfolg: Als Hersteller von Solarzellen und Solarmodulen nahm die Gesellschaft mit der Fertigstellung ihrer ersten Produktionslinie 2005 den Vertrieb auf. Damals betrug die Kapazität 25 MW pro Jahr, die in den beiden Folgejahren auf 50 MW verdoppelt werden konnte. Bis Ende des Jahres soll die Produktionskapazität nun auf 100MW ausgebaut sein. Die beiden neuen Produktionslinien sind bereits komplett installiert und getestet und sollen den Betrieb noch im laufenden Quartal aufnehmen. Entsprechend stark zeigte sich in den vergangenen Jahren die Umsatz- und Ergebnisentwicklung bei JETION HOLDINGS: 2007 meldete das Unternehmen einen Umsatzanstieg von USD 45.5 Mio. auf USD 106.9 Mio., der Nettogewinn legte von USD 5 Mio. auf USD 7.9 Mio. zu. Auch für das erste Halbjahr 2008 stellte die Company im Rahmen einer Roadshow ein kräftiges Wachstum und ausgezeichnete Ergebnisse in Aussicht, woraufhin die Analysten von Evolution Securities ihre Gewinnschätzungen nochmals leicht angehoben haben:
Im Gesamtjahr 2008 dürfte JETION HOLDINGS bei Umsätzen von USD 222 Mio. einen Nettogewinn in Höhe von USD 20.8 Mio. ausweisen! Für das kommende Geschäftsjahr erwarten die Analysten bei Umsätzen von USD 330.5 Mio. einen Net Profit von USD 33.1 Mio.! Und: Ende 2009 soll die nächste Ausbaustufe fertig gestellt sein, die die Gesamtkapazität von JETION HOLDINGS auf 175 MW per anno ansteigen lässt. So sollen bereits 2010 Umsätze von USD 487.8 Mio. sowie ein Nettogewinn von USD 50.1 Mio. möglich sein. Die aktuelle Market-Cap ist vor diesem Hintergrund lächerlich gering: Eine Marktkapitalisierung von aktuell nur USD 116 Mio. bedeutet schon auf Basis der diesjährigen Gewinnschätzungen ein KGV von 5.7, das in den beiden kommenden Jahren auf 3.6 bzw. 2.3 (!) zurückbuchstabiert wird. Damit ist JETION HOLDINGS zweifelsfrei die billigste chinesische Solar-Aktie, was auch der Peer-Group-Vergleich der Kollegen von Evolution Securities noch einmal bestätigt: Im Branchenvergleich wird die Aktie derzeit mit einem historisch hohen Discount von 64% gehandelt, im Schnitt bekommen chinesische Solarzellen- bzw. Modulhersteller ein KGV von knapp 10 per 2009 zugebilligt! Das Kursziel der Analysten wurde in der vergangenen Woche von GBp 165 auf GBp 190 angehoben, bei einem aktuellen Kurs von GBp 88 entspricht dies einem Kurspotenzial von 115%. Der Startschuss für eine mögliche Kursrallye könnte indes schon in Kürze fallen, wenn das Unternehmen in der kommenden Woche seine Halbjahreszahlen präsentieren wird. Wir würden daher keine Sekunde zögern, hier mit einer Startposition einen Fuß in die Tür zu stellen!
(WKN A0M WQ8, Kurs aktuell EUR 1.04, Reuters JHL)
Bei JETION HOLDINGS handelt es sich um eine der Topempfehlungen des HOT STOCKS EUROPE.
Verlieren Sie keine Zeit und holen Sie sich sämtliche Informationen zu unseren neuen Top-Empfehlungen und verdienen Sie wie unsere Leser in den kommenden Jahren ein Vermögen! Testen Sie nun 2 Ausgaben von HOT STOCKS EUROPE völlig kostenlos und machen Sie sich 4 Wochen lang ein Bild des vielleicht erfolgreichsten deutschsprachigen Börsenbriefes der vergangenen Jahre!
Machen Sie sich diese Kompetenz unseres Analystenteams zu nutze und legen Sie jetzt den Grundstein für eine fantastische Performance, wie Sie unsere Leser Ausgabe für Ausgabe, Monat für Monat und Jahr für Jahr erzielen!
Ihr Link zum kostenlosen Test-Abo:
http://www.hot-stocks-europe.de/probeabo.shtml
Mit freundlichen Grüssen
Arno Ruesch
Vorstand Börse Inside Verlag AG
Disclaimer:
Bei diesem Text handelt es sich um eine Werbeaussendung für Börseninformationsdienste der BÖRSE INSIDE Verlag AG! Die in Auszügen oder vollständig dargestellten Analysen sind somit keinesfalls als Kaufempfehlung zu verstehen. Indirekte sowie direkte Regressinanspruchnahme und Gewährleistung muss trotz akkuratem Research und der Sorgfaltspflicht verbundenen Prognostik kategorisch ausgeschlossen werden. Insbesondere gilt dies für Leser, die unsere Investmentanalysen in eigene Anlagedispositionen umsetzen. So stellen weder unsere Musterdepots noch unsere Einzelanalysen zu bestimmten Wertpapieren einen Aufruf zur individuellen oder allgemeinen Nachbildung, auch nicht stillschweigend, dar. Handelsanregungen oder Empfehlungen in diesem Newsletter stellen keine Aufforderung von Kauf oder Verkauf von Wertpapieren oder derivativen Finanzprodukten dar. Eine Haftung für mittelbare und unmittelbare Folgen der veröffentlichten Inhalte ist somit ausgeschlossen. Die Redaktion bezieht Informationen aus Quellen, die sie als vertrauenswürdig erachtet. Eine Gewähr hinsichtlich Qualität und Wahrheitsgehalt dieser Informationen muss dennoch ausgeschlossen werden. Dieser Newsletter darf keinesfalls als persönliche oder auch allgemeine Beratung aufgefasst werden, auch nicht stillschweigend, da wir mittels veröffentlichter Inhalte lediglich unsere subjektive Meinung reflektieren.
Hinweis auf mögliche Interessenskonflikte nach §34b WpHG:
Der Verlag oder nahestehende Dritte können Positionen in den analysierten und an dieser Stelle vorgestellten Anlagen eingegangen sein. Gemäß den Compliance-Richtlinien des Verlages geschieht dies bei erstmalig empfohlenen Werten allerdings nicht, bevor die entsprechende Empfehlung im frei zugänglichen „Trading Corner“ unter der Internetadresse www.boerse-inside.de veröffentlicht wurde. Die Aktualisierung dieses Bereiches findet werktäglich bis 14:30 Uhr MEZ statt. Sind solche Eigenpositionen eingegangen worden, so profitiert der Verlag oder nahestehende Dritte von allfälligen Kurssteigerungen in diesen Titeln. Diese Positionen können jederzeit – also vor, während und nach der Veröffentlichung von Analysen – ohne vorherige Bekanntgabe liquidiert werden, was unter Umständen einen belastenden Effekt für die Kursentwicklung bedeutet. Bei allen Kurszielen, die in den veröffentlichten Aktienanalysen genannt werden, handelt es sich lediglich um Einzelmeinungen des Analysten, so dass Positionsglattstellungen von Eigenpositionen auch jederzeit vor Erreichen dieser Kursziele erfolgen können.
Folgende Interessenkonflikte können bei der Börse Inside Verlag AG im Zusammenhang mit der Erstellung von Finanzanalysen grundsätzlich auftreten:
Die Finanzanalyse ist im Auftrag des analysierten Unternehmens entgeltlich erstellt worden.
Die Finanzanalyse wurde dem analysierten Unternehmen vor Veröffentlichung vorgelegt und hinsichtlich berechtigter Einwände geändert.
Die Börse Inside Verlag AG und/oder ein verbundenes Unternehmen halten Long- oder Shortpositionen an dem analysierten Unternehmen. (Siehe auch Disclaimer auf homepage www.boerse-inside.de)
Der Ersteller und/oder an der Erstellung mitwirkende Personen/Unternehmen halten Long- oder Shortpositionen an dem analysierten Unternehmen.
Die Börse Inside Verlag AG führt Aktien des hier analysierten Unternehmens in einem (virtuellen) Musterdepot des Börse Inside Premium Investorclubs oder in einer der 30%-Aktienanalysen.
Die Börse Inside Verlag AG und/oder nahe stehende Personen sind am Platzierungserfolg dieser Aktie beteiligt. Sie profitieren von einer positiven Kursentwicklung.
In der vorliegenden Finanzanalyse sind folgende der o.g. möglichen Interessenkonflikte gegeben: -
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Antwort auf Beitrag Nr.: 35.055.995 von auffigehts am 10.09.08 23:17:35Es müssten in den nächsten Tagen die Halbjahreszahlen gemeldet werden. Letztes Jahr war das am 24.9.
Ich persönlich erwarte, wie früher geschrieben, um die 7mUSD Gewinn.
Drüber wäre supi, drunter nicht so toll.
MfG.
s.
Ich persönlich erwarte, wie früher geschrieben, um die 7mUSD Gewinn.
Drüber wäre supi, drunter nicht so toll.
MfG.
s.
Antwort auf Beitrag Nr.: 35.058.283 von stupidgame am 11.09.08 07:08:13Wie immer bei dieser Aktie, wird das letzte offene Gap geschlossen (siehe das von Mitte July) ... evtl. unter Ausbildung eines Doppelbodens ... dann kommen die Zahlen ...
immer "the same procedure" hier, kannse die Uhr nach stellen lol
immer "the same procedure" hier, kannse die Uhr nach stellen lol
For Immediate Release
16 September 2008
Jetion Holdings Limited
('Jetion' or the 'Company')
Notification of Interim Results
Jetion Holdings Limited (AIM: JHL), the manufacturer of solar cells and modules, will announce its Interim Results for the six months ended 30 June 2008 on Monday 22 September 2008.
An analyst briefing will be held at 9.30am on the morning of results at Buchanan Communications, 45 Moorfields, London EC2Y 9AE.
16 September 2008
Jetion Holdings Limited
('Jetion' or the 'Company')
Notification of Interim Results
Jetion Holdings Limited (AIM: JHL), the manufacturer of solar cells and modules, will announce its Interim Results for the six months ended 30 June 2008 on Monday 22 September 2008.
An analyst briefing will be held at 9.30am on the morning of results at Buchanan Communications, 45 Moorfields, London EC2Y 9AE.
Antwort auf Beitrag Nr.: 35.125.883 von stupidgame am 16.09.08 10:18:27Zahlen! Und besser, als ich erwartet habe. Well done!
http://moneyextra.uk-wire.com/cgi-bin/articles/2008092208175…
http://moneyextra.uk-wire.com/cgi-bin/articles/2008092208175…
liest sich doch gut.Jetzt muss nur noch der Kurs anziehen.
Antwort auf Beitrag Nr.: 35.214.664 von SPEEDTIP2 am 22.09.08 11:32:51"Jetion Holdings Limited (AIM:JHL), the manufacturer of high quality solar cells and modules, announces today its interim results for the six months ended 30 June 2008.
Financial Highlights
* 161% increase in turnover to US$100.6m H1 2007: US$38.6m)
* 192% increase in gross profit to US$18.4m (H1 2007: US$6.3m*)
* 252% increase in net profit to US$9.7m (H1 2007: US$2.8m*)
* 1.9% improvement in gross margin to 18.3% (H1 2007: 16.4%*)
* Basic earnings per share increased to US cents 13.26 (H1 2007: US cents 5.51*)
Note*: 2007 figures restated. Details are given in the interim financial report below.
Operating Highlights
* Significant progress across all production metrics
* * 91.8% increase in solar cells output to 26.3 megawatts ("MW") (H1 2007: 13.7MW)
* Solar cell manufacturing capacity doubled to 100MW per annum, 3 months ahead of schedule (H1 2007: 50MW per annum)
* Substantial increase in solar module output to 19.4MW (H1 2007: 0.6MW)
* Solar module manufacturing capacity increased to 50MW per annum(H1 2007: 40MW per annum)
* Average efficiency rate of solar cell production lines exceeding 16.8% during the period (H1 2007: 16.0%)
* Cell cost per watt (excluding wafer cost) decreased to US$0.21/Wp (2007: US$0.25/Wp)
Outlook
The Company has exceeded almost all growth targets and continues to progress well, with significant orders and contracts secured for the second half of 2008. The Board is confident of the Company's growth prospects and looks forward to reporting further progress at year end 2008.
Jetion's products are well positioned in the global context as a result of its continuous focus on low cost production and top quartile efficiency. Jetion is now planning its next phase of growth as the Company is now operating at the 100MW capacity - a target outlined at the time of its IPO of AIM in July 2007.
usw."
Ganzer Artikel, siehe http://www.iii.co.uk/investment/detail?code=cotn:JHL.L&displ…
Financial Highlights
* 161% increase in turnover to US$100.6m H1 2007: US$38.6m)
* 192% increase in gross profit to US$18.4m (H1 2007: US$6.3m*)
* 252% increase in net profit to US$9.7m (H1 2007: US$2.8m*)
* 1.9% improvement in gross margin to 18.3% (H1 2007: 16.4%*)
* Basic earnings per share increased to US cents 13.26 (H1 2007: US cents 5.51*)
Note*: 2007 figures restated. Details are given in the interim financial report below.
Operating Highlights
* Significant progress across all production metrics
* * 91.8% increase in solar cells output to 26.3 megawatts ("MW") (H1 2007: 13.7MW)
* Solar cell manufacturing capacity doubled to 100MW per annum, 3 months ahead of schedule (H1 2007: 50MW per annum)
* Substantial increase in solar module output to 19.4MW (H1 2007: 0.6MW)
* Solar module manufacturing capacity increased to 50MW per annum(H1 2007: 40MW per annum)
* Average efficiency rate of solar cell production lines exceeding 16.8% during the period (H1 2007: 16.0%)
* Cell cost per watt (excluding wafer cost) decreased to US$0.21/Wp (2007: US$0.25/Wp)
Outlook
The Company has exceeded almost all growth targets and continues to progress well, with significant orders and contracts secured for the second half of 2008. The Board is confident of the Company's growth prospects and looks forward to reporting further progress at year end 2008.
Jetion's products are well positioned in the global context as a result of its continuous focus on low cost production and top quartile efficiency. Jetion is now planning its next phase of growth as the Company is now operating at the 100MW capacity - a target outlined at the time of its IPO of AIM in July 2007.
usw."
Ganzer Artikel, siehe http://www.iii.co.uk/investment/detail?code=cotn:JHL.L&displ…
Finanzhöhepunkte * Zunahme von 161 % im Umsatz zu US$100.6m H1 2007: US$38.6m) * Zunahme von 192 % im Bruttogewinn zu US$18.4m (H1 2007: US$6.3m *) * Zunahme von 252 % im Reingewinn zu US$9.7m (H1 2007: US$2.8m *) * Verbesserung von 1.9 % in der Bruttohandelsspanne zu 18.3 % (H1 2007: 16.4 % *) * vergrößerte der Grundlegende Ertrag pro Anteil in die Vereinigten Staaten 13.26 Cent (H1 2007: Die Vereinigten Staaten 5.51 Cent *) Note*: Neu formulierte 2007-Zahlen. Details werden in der Zwischenzeit Finanzbericht unten gegeben. Das Funktionieren von Höhepunkten * Bedeutender Fortschritt über die ganze Produktionsmetrik * * Zunahme von 91.8 % in der Sonnenzellproduktion zu 26.3 Megawatt (\ "MW \") (H1 2007: 13.7MW) * Sonnenzelle Produktionskapazität verdoppelt zu 100MW pro Jahr, 3 Monate vorzeitig (H1 2007: 50MW pro Jahr) * Wesentliche Zunahme in der Sonnenmodul-Produktion zu 19.4MW (H1 2007: 0.6MW) * Sonnenmodul nahm Produktionskapazität zu 50MW pro Jahr zu (H1 2007: 40MW pro Jahr) * Durchschnittliche Leistungsfähigkeitsrate von Sonnenzellfließbändern außerordentliche 16.8 % während der Periode (H1 2007: 16.0 %) * Zellkosten pro Watt (Oblate-Kosten ausschließend), vermindert zu US$0.21/Wp (2007: US$0.25/Wp) Meinung hat Die Gesellschaft hat fast alle Wachstumsziele überschritten und setzt fort, so, mit bedeutenden Ordnungen und für die zweite Hälfte von 2008 gesicherten Verträgen fortzuschreiten. Der Ausschuss ist von der Gesellschaft \ Wachstumsaussichten überzeugt und freut sich darauf, weiteren Fortschritt am Jahresende 2008 zu melden.
Antwort auf Beitrag Nr.: 35.215.037 von HansOhlemasse am 22.09.08 12:10:17"22.09.2008 15:06:41 (AKTIENCHECK.DE)
Jetion ein Kauf sollte kein Fehler sein
Endingen (aktiencheck.de AG) - Aktuell notiert die Jetion-Aktie (ISIN VGG5113P1009/ WKN A0MWQ8) bei 75 GBp und auf diesem Niveau sollte ein Kauf des Titels kein Fehler sein, so die Experten von "Emerging Markets Investor". In der Ausgabe von vor zwei Wochen hätten die Experten den Titel bereits bei einem Kurs zu 1,03 Euro als billigste Solar-Aktie Chinas empfohlen. Momentan könne man den Wert sogar noch günstiger bekommen, was nicht mehr lange der Fall sein sollte. Heute präsentiere die Gesellschaft ihre Zahlen für das erste Halbjahr 2008. Den Nettogewinn sähen die Experten bei mindestens 8 Mio. USD und für das Gesamtjahr würden sie ein Plus von 21 Mio. USD prognostizieren. Analysten würden den Gewinn für 2009 auf 33 Mio. USD und für 2010 auf 50 Mio. USD taxieren. Damit würde das KGV auf unter 2 sinken. Da überrasche es nicht, dass die Analysten von Evolution Securities in der letzten Woche ihr Kursziel in Höhe von 190 GBp bekräftigt hätten. Aktuell notiert die Jetion-Aktie bei 75 GBp und auf diesem Niveau sollte ein Kauf des Titels kein Fehler sein, so die Experten von "Emerging Markets Investor". (Ausgabe 18 vom 22.09.2008) (22.09.2008/ac/a/a) "
1. Die Zahlen sind schon ruas ... und besser als Analystenwerwartungen ..
2. der Kurs fällt ... (versteh ich nicht, is aber so)
Jetion ein Kauf sollte kein Fehler sein
Endingen (aktiencheck.de AG) - Aktuell notiert die Jetion-Aktie (ISIN VGG5113P1009/ WKN A0MWQ8) bei 75 GBp und auf diesem Niveau sollte ein Kauf des Titels kein Fehler sein, so die Experten von "Emerging Markets Investor". In der Ausgabe von vor zwei Wochen hätten die Experten den Titel bereits bei einem Kurs zu 1,03 Euro als billigste Solar-Aktie Chinas empfohlen. Momentan könne man den Wert sogar noch günstiger bekommen, was nicht mehr lange der Fall sein sollte. Heute präsentiere die Gesellschaft ihre Zahlen für das erste Halbjahr 2008. Den Nettogewinn sähen die Experten bei mindestens 8 Mio. USD und für das Gesamtjahr würden sie ein Plus von 21 Mio. USD prognostizieren. Analysten würden den Gewinn für 2009 auf 33 Mio. USD und für 2010 auf 50 Mio. USD taxieren. Damit würde das KGV auf unter 2 sinken. Da überrasche es nicht, dass die Analysten von Evolution Securities in der letzten Woche ihr Kursziel in Höhe von 190 GBp bekräftigt hätten. Aktuell notiert die Jetion-Aktie bei 75 GBp und auf diesem Niveau sollte ein Kauf des Titels kein Fehler sein, so die Experten von "Emerging Markets Investor". (Ausgabe 18 vom 22.09.2008) (22.09.2008/ac/a/a) "
1. Die Zahlen sind schon ruas ... und besser als Analystenwerwartungen ..
2. der Kurs fällt ... (versteh ich nicht, is aber so)
Antwort auf Beitrag Nr.: 35.216.336 von SPEEDTIP2 am 22.09.08 14:12:26KGV '08 unter 5 ????
KGV '10 unter 2 ????
Analystenerwartung, Netto Gewinnerwartung fürs erste Halbjahr 08: 8 Mio.
Zahlen heute: erzielter Netto Gewinn fürs erste Halbjahr 08: 9,7 Mio.
und der Kurs springt nicht an ... ???
KGV '10 unter 2 ????
Analystenerwartung, Netto Gewinnerwartung fürs erste Halbjahr 08: 8 Mio.
Zahlen heute: erzielter Netto Gewinn fürs erste Halbjahr 08: 9,7 Mio.
und der Kurs springt nicht an ... ???
Jetion am schnellsten wachsendes Unternehmen in der “Deloitte Technology Fast 50 China 2008″-Liste - Financial.de - Nov 5, 2008
www.financial.de/news/rohstoff-news/2008/11/05/jetion-am-sch…
www.financial.de/news/rohstoff-news/2008/11/05/jetion-am-sch…
Jetion Holdings Limited
(“Jetion” or “the Company”)
GROWTH PLANS
Jetion Holdings Limited (AIM:JHL), the manufacturer of solar cells and modules, announces its intention to continue to pursue its growth plans, which include expansion of its production capacity at its manufacturing facility in Jiangyin, China.
These growth plans are in keeping with the strong global demand for solar panel products. The Company is considering a number of capital raising alternatives, and has retained Houlihan Lokey, a leading international investment bank, to assist the Company in raising the financing required for its growth plans.
(“Jetion” or “the Company”)
GROWTH PLANS
Jetion Holdings Limited (AIM:JHL), the manufacturer of solar cells and modules, announces its intention to continue to pursue its growth plans, which include expansion of its production capacity at its manufacturing facility in Jiangyin, China.
These growth plans are in keeping with the strong global demand for solar panel products. The Company is considering a number of capital raising alternatives, and has retained Houlihan Lokey, a leading international investment bank, to assist the Company in raising the financing required for its growth plans.
war noch jemand so blödhier bei WO, und hat in den letzen Tagen gekauft ?
Antwort auf Beitrag Nr.: 31.373.835 von meinolf67 am 03.09.07 14:28:40Wundert mich ja irgendwie, jeden Tag schauen hier so 30 Leute rein, keiner schreibt was, dabei gibts hier soviele offene Fragen.
Zu welchen Bedingungen will Jetion neues Kapit besorgen. Gibts dann
neue Aktien mit 25 Cent Nennwert ? Der Hauptaktionär hält über 50%
warum sollte der sowas machen. Dann kann man sich doch als profitabler Hersteller besser kaufen lassen. Ich verstehe einfach nicht warumdie Aktionäre zu solchen Kursen weggeben. Was ist bei Jetion das Problem. Solar Zellen im allgemeinen ? Glaube ich nicht !
Es müßte dooch jedem klar seien das die anderen Nationen einen ählichen Weg bzgl. alternative Energien beschreiten werden wie wir Deutschen. Das der Kurs hier in Deutschland fällt liegt natürlich an der AIM, bevor jemand der hier ganz neu ist denkt, das man hier was tricksen kann
http://www.iii.co.uk/investment/detail.epl?code=cotn%3AJHL.L…
Zu welchen Bedingungen will Jetion neues Kapit besorgen. Gibts dann
neue Aktien mit 25 Cent Nennwert ? Der Hauptaktionär hält über 50%
warum sollte der sowas machen. Dann kann man sich doch als profitabler Hersteller besser kaufen lassen. Ich verstehe einfach nicht warumdie Aktionäre zu solchen Kursen weggeben. Was ist bei Jetion das Problem. Solar Zellen im allgemeinen ? Glaube ich nicht !
Es müßte dooch jedem klar seien das die anderen Nationen einen ählichen Weg bzgl. alternative Energien beschreiten werden wie wir Deutschen. Das der Kurs hier in Deutschland fällt liegt natürlich an der AIM, bevor jemand der hier ganz neu ist denkt, das man hier was tricksen kann
http://www.iii.co.uk/investment/detail.epl?code=cotn%3AJHL.L…
Antwort auf Beitrag Nr.: 36.250.551 von ibmisout am 22.12.08 12:05:31Hallo ibmisout!
Ich behalte die Sache hier schon im Auge. Muss aber nicht immer und überall "hinkritzeln".
Diese Firma ist mittlerweile bekannt dafür, sagen wir mal, nicht gerade Talent dafür zu haben, mit dem Kapitalmarkt zu kommunizieren.
Ob das damals der - eigentlich planmässige - Rücktritt war, der zu einem Kurssturz geführt hat oder anderes.
So ist es jetzt auch wieder. Fragt man sich, was es mit diesem "Suchen nach Kapital" auf sich hat. Bei 22mUSD Cash - für eine Firma dieser Größe eigentlich komfortabel.
Aber ich habe auch nochmal in die letzte Bilanz geschaut und es fällt z.B. die Zunahme der unbesicherten Bankkredite um 8,5m auf. Sowas aktuell neu oder verlängert zu bekommen kann schon ein Problem sein.
Die Kardinalfrage wäre aber, wozu? Wird das wirklich gebraucht, oder ist das ein vorsichtiger "Vorratsbeschluss"?
Das sollte das Management mal klären.
In Zukunft sollte man auch hier, wie in ähnlichen Unternehmen mehr auf die Cashflow-Rechnung schauen. Weniger auf den Netto-Gewinn - der lässt sich oft irgendwie trotzdem ausweisen.
Cashinflow - Cashoutflow - Cashbestand. Das ist angesichts knappem Kapitals überall viel wichtiger.
Gruß
s.
Ich behalte die Sache hier schon im Auge. Muss aber nicht immer und überall "hinkritzeln".
Diese Firma ist mittlerweile bekannt dafür, sagen wir mal, nicht gerade Talent dafür zu haben, mit dem Kapitalmarkt zu kommunizieren.
Ob das damals der - eigentlich planmässige - Rücktritt war, der zu einem Kurssturz geführt hat oder anderes.
So ist es jetzt auch wieder. Fragt man sich, was es mit diesem "Suchen nach Kapital" auf sich hat. Bei 22mUSD Cash - für eine Firma dieser Größe eigentlich komfortabel.
Aber ich habe auch nochmal in die letzte Bilanz geschaut und es fällt z.B. die Zunahme der unbesicherten Bankkredite um 8,5m auf. Sowas aktuell neu oder verlängert zu bekommen kann schon ein Problem sein.
Die Kardinalfrage wäre aber, wozu? Wird das wirklich gebraucht, oder ist das ein vorsichtiger "Vorratsbeschluss"?
Das sollte das Management mal klären.
In Zukunft sollte man auch hier, wie in ähnlichen Unternehmen mehr auf die Cashflow-Rechnung schauen. Weniger auf den Netto-Gewinn - der lässt sich oft irgendwie trotzdem ausweisen.
Cashinflow - Cashoutflow - Cashbestand. Das ist angesichts knappem Kapitals überall viel wichtiger.
Gruß
s.
Hallo
>>Diese Firma ist mittlerweile bekannt dafür, sagen wir mal, nicht gerade Talent dafür zu haben, mit dem Kapitalmarkt zu kommunizieren<<
Das sehe ich auch so.
>>Ob das damals der - eigentlich planmässige - Rücktritt war, der zu einem Kurssturz geführt hat oder anderes.<<
Wenn das wirklich mit ein Grund war dann sollte man mal lesen was dieser vielbeschäftigte Mensch alles so treibt:
http://www.zoominfo.com/people/Shah_Dipesh_351606671.aspx
>>Aber ich habe auch nochmal in die letzte Bilanz geschaut und es fällt z.B. die Zunahme der unbesicherten Bankkredite um 8,5m auf. Sowas aktuell neu oder verlängert zu bekommen kann schon ein Problem sein.<<
Kann ich mir nicht vorstellen das dies ein Problem ist, bei 22 Millionen Cash plus den Gewinnen aus dem 2 ten Halbjahr.
>>Die Kardinalfrage wäre aber, wozu? Wird das wirklich gebraucht, oder ist das ein vorsichtiger "Vorratsbeschluss"?<<
Das wäre ne gute Frage die man mal dem Daniel Kow stellen könnte, werde ich tun sobald ich diese Firma besser verstehe.
>>In Zukunft sollte man auch hier, wie in ähnlichen Unternehmen mehr auf die Cashflow-Rechnung schauen. Weniger auf den Netto-Gewinn - der lässt sich oft irgendwie trotzdem ausweisen.
Cashinflow - Cashoutflow - Cashbestand. Das ist angesichts knappem Kapitals überall viel wichtige<<
Da fehlt mir der Betriebswirtschaftliche Hintergrund um da zu verstehen. Bisher dachte ich das die Kennziffer "Profit bevore Income Tax" genauso wichtig, vor allem einfacher zu verstehen ist.
Wer zahlt schon gerne Steuern ? Halt ich, denn wenn ich viel Steuern zahle habe ich auch viel verdient.
Bin für jeden Hinweis dankbar. Falls jemand noch was gefunden hat worüber es sich zu diskutieren lohnt.
gruß
Ralf
>>Diese Firma ist mittlerweile bekannt dafür, sagen wir mal, nicht gerade Talent dafür zu haben, mit dem Kapitalmarkt zu kommunizieren<<
Das sehe ich auch so.
>>Ob das damals der - eigentlich planmässige - Rücktritt war, der zu einem Kurssturz geführt hat oder anderes.<<
Wenn das wirklich mit ein Grund war dann sollte man mal lesen was dieser vielbeschäftigte Mensch alles so treibt:
http://www.zoominfo.com/people/Shah_Dipesh_351606671.aspx
>>Aber ich habe auch nochmal in die letzte Bilanz geschaut und es fällt z.B. die Zunahme der unbesicherten Bankkredite um 8,5m auf. Sowas aktuell neu oder verlängert zu bekommen kann schon ein Problem sein.<<
Kann ich mir nicht vorstellen das dies ein Problem ist, bei 22 Millionen Cash plus den Gewinnen aus dem 2 ten Halbjahr.
>>Die Kardinalfrage wäre aber, wozu? Wird das wirklich gebraucht, oder ist das ein vorsichtiger "Vorratsbeschluss"?<<
Das wäre ne gute Frage die man mal dem Daniel Kow stellen könnte, werde ich tun sobald ich diese Firma besser verstehe.
>>In Zukunft sollte man auch hier, wie in ähnlichen Unternehmen mehr auf die Cashflow-Rechnung schauen. Weniger auf den Netto-Gewinn - der lässt sich oft irgendwie trotzdem ausweisen.
Cashinflow - Cashoutflow - Cashbestand. Das ist angesichts knappem Kapitals überall viel wichtige<<
Da fehlt mir der Betriebswirtschaftliche Hintergrund um da zu verstehen. Bisher dachte ich das die Kennziffer "Profit bevore Income Tax" genauso wichtig, vor allem einfacher zu verstehen ist.
Wer zahlt schon gerne Steuern ? Halt ich, denn wenn ich viel Steuern zahle habe ich auch viel verdient.
Bin für jeden Hinweis dankbar. Falls jemand noch was gefunden hat worüber es sich zu diskutieren lohnt.
gruß
Ralf
Antwort auf Beitrag Nr.: 36.258.103 von ibmisout am 23.12.08 12:33:04
Hallo Ralf,
Also wenn schon, dann solltest Du nicht das Vorsteuerergebnis nehmen.
Gruß,
Popeye
Hallo Ralf,
Also wenn schon, dann solltest Du nicht das Vorsteuerergebnis nehmen.
Gruß,
Popeye
Heute endlich mal wieder Umsätze. Für alle die diese Site noch nicht kennen.
http://www.iii.co.uk/investment/detail.epl?code=cotn%3AJHL.L…
http://www.iii.co.uk/investment/detail.epl?code=cotn%3AJHL.L…
Antwort auf Beitrag Nr.: 36.314.494 von ibmisout am 06.01.09 14:36:50Hi,
habe ein paar Fragen an Jetion geschickt aber keine Antwort erhalten.
Im wesentlichen gehts um 2 Punkte.
1. HAt der Großaktionär gewechselt ?
2. Hat sich der Termin für den Jahresabschluss 2008 verschoben.
Ist jemanden da was aufgefallen. Hier der Link zu Jetion. Danach meine Mail.
http://www.alibaba.com/member_site.html?url=http%3A%2F%2Fwww…
Dear Mr. Tang,
please be so kind and answer my Questions, about Jetion:
1. I have just looked on the Financial Calendar of Jetion and saw a change in the earning release for FY 2008.
Some weeks ago January was mentioned, and now June. Is there a reason for the delay ?
http://www.alibaba.com/member_site.html?url=http%3A%2F%2Fwww…
2. Some weeks ago MR. Jiezhen Yang was the major shareholder, now GZ Trust is listed with 59%. But i could not read anything about that transaction.
3. Are there any news about growth and how that will be financed ?
4. What are the financial goals for 2009 ?
habe ein paar Fragen an Jetion geschickt aber keine Antwort erhalten.
Im wesentlichen gehts um 2 Punkte.
1. HAt der Großaktionär gewechselt ?
2. Hat sich der Termin für den Jahresabschluss 2008 verschoben.
Ist jemanden da was aufgefallen. Hier der Link zu Jetion. Danach meine Mail.
http://www.alibaba.com/member_site.html?url=http%3A%2F%2Fwww…
Dear Mr. Tang,
please be so kind and answer my Questions, about Jetion:
1. I have just looked on the Financial Calendar of Jetion and saw a change in the earning release for FY 2008.
Some weeks ago January was mentioned, and now June. Is there a reason for the delay ?
http://www.alibaba.com/member_site.html?url=http%3A%2F%2Fwww…
2. Some weeks ago MR. Jiezhen Yang was the major shareholder, now GZ Trust is listed with 59%. But i could not read anything about that transaction.
3. Are there any news about growth and how that will be financed ?
4. What are the financial goals for 2009 ?
Sunny outlook for Jetion
Wed 21 Jan 2009
JHL - Jetion Holdings
chart
Latest Prices
Name Price %
Jetion Holdings 30.00p +13.21%
FTSE AIM All-Share 395 -1.14%
Electronic & Electrical Equipment 1,162 -0.18%
LONDON (SHARECAST) - Solar cells manufacturer Jetion Holdings hit all its growth targets in 2008 despite a substantial deterioration in trading conditions in the fourth quarter.
The company’s output of solar cells in 2008 rose to 65.3 megawatts (mw) from 35.2mw in 2007, while solar module production output soared to 43.3mw from 8.2mw the year before.
Average cell conversion efficiency improved to 16.8% from 16.5%, while the utilisation rate achieved was 97%, reflecting the success of the company’s cost control programme.
The company said that although trading slowed down in the final quarter of 2008, this was offset by reduced prices for silicon, and “current indications are that market conditions are quickly returning to a more normal pattern.”
“Management is confident that Jetion is well placed to continue to strengthen the business whilst taking protective measures in these difficult market conditions,” said Roger Gai, chief executive of the company.
Wed 21 Jan 2009
JHL - Jetion Holdings
chart
Latest Prices
Name Price %
Jetion Holdings 30.00p +13.21%
FTSE AIM All-Share 395 -1.14%
Electronic & Electrical Equipment 1,162 -0.18%
LONDON (SHARECAST) - Solar cells manufacturer Jetion Holdings hit all its growth targets in 2008 despite a substantial deterioration in trading conditions in the fourth quarter.
The company’s output of solar cells in 2008 rose to 65.3 megawatts (mw) from 35.2mw in 2007, while solar module production output soared to 43.3mw from 8.2mw the year before.
Average cell conversion efficiency improved to 16.8% from 16.5%, while the utilisation rate achieved was 97%, reflecting the success of the company’s cost control programme.
The company said that although trading slowed down in the final quarter of 2008, this was offset by reduced prices for silicon, and “current indications are that market conditions are quickly returning to a more normal pattern.”
“Management is confident that Jetion is well placed to continue to strengthen the business whilst taking protective measures in these difficult market conditions,” said Roger Gai, chief executive of the company.
Jetion Holdings Limited
(“Jetion” or “the Company”)
Trading Update
Jetion to report a year of high growth
Jetion Holdings Limited (AIM:JHL), the manufacturer of high-performancesolar cells and modules, is pleased to provide an update on
trading for the full year ended 31 December 2008 and the outlook for the first half of 2009.
.
The Board is pleased to report that the Company achieved all its growth targets during 2008. The Company’s full year results are
expected to be in line with market expectations despite challenging conditions for the Company and sector during the last quarter of
the year.
The Company will report its final audited figures in March 2009.
Highlights
Solar cells – 65.3Megawatts (“MW”)of production output achieved
Cell manufacturing capacity increased to 100MW per annum (2007 : 50MW)
Solar modules - 43.3MW of production output manufactured from Jetion solar cells
Module production capacity increased to 60MW per annum from 40MW
Substantial sales growth in Jetion Europe
13.9MW of shipments in 2008 (2007:3.5MW)
Average manufacturing capacity utilisation rate improved for the year - increased to over 97% (2007 : 93%), significantly
higher than the average industry level
Ranked #1 in Deloitte Technology Fast 50 China 2008 and #2 in Deloitte Technology Fast 500 Asia Pacific 2008
Operational Update
In 2008, the Company’s output of solar cells was 65.3MW (2007: 35.2MW) and the module production output was 43.3MW (2007:
8.2 MW), increasing by 85.5% and 428.1% respectively, compared to 2007.
The Company’s cell production capacity expansion, to 100MW per annum from 50MW per annum, was completed by the end of June
2008, 3 months ahead of schedule and has now commenced production.
In addition, the Company continues to develop its in-house capacity to convert solar cells into modules. Module capacity increased to
60MW per annum as at 31 December 2008, from 40MW per annum at the end of the previous financial year. The expansion in
module capacity was also completed 3 months ahead of schedule and commenced production in July.
The Company sold 19.6MW solar cells and 45.2MW solar modules for the whole year, of which 76% were shipped overseas and 24%
were distributed within China. Jetion’s high-grade sales network in Europe and its high-quality and reliable products contributed
greatly to the Company’s continuing success in growing its sales revenues.
The Company also made progress in cost control. Its average cell conversion efficiency increased to 16.8% from 16.5%; and the
utilisation rate achieved was 97%. These improvements helped the Company’s cost control capability, attaining the leading level in
the industry.
Outlook for 2009
Q4 2008 saw a substantial reduction in trading conditions as experienced by the wider solar market. This has been offset by reduced
purchase prices for silicon and current indications are that market conditions are quickly returning to a more normal pattern.
Management believe that the business enters 2009 well prepared for a normalisation in trading with reduced volatility. The Company
has concentrated on maintaining its already excellent utilisation rates and yields and cost cutting efforts as well as maintaining sales, for which it currently has an order backlog representing a significant portion of the Company’s capacity for 2009. In addition, Jetion is also benefiting from lower raw material costs.
Jetion remains flexible regarding future expansion plans. Whilst the Company is committed to expanding its capacity in the medium
term, it is balancing this with the effect of a slowdown in the global economy and ensuring that any capacity expansion reflects
anticipated levels of demand in the market place and is financed at reasonable costs.
Commenting on trading,Roger Gai, Chief Executive of Jetion said:
”2008 has been a very important year for Jetion. We have not only accomplished the set plan in terms of our scale of operation, but
we have also achieved good progress in cost control and R&D. We believe that these achievements provide a firm foundation for the
Company’s future development.
Management is confident that Jetion is well placed to continue to strengthen the business whilst taking protective measures in these
difficult market conditions.
I would like to express my gratitude to our investors, customers and suppliers who have given us great support and
encouragement.”
(“Jetion” or “the Company”)
Trading Update
Jetion to report a year of high growth
Jetion Holdings Limited (AIM:JHL), the manufacturer of high-performancesolar cells and modules, is pleased to provide an update on
trading for the full year ended 31 December 2008 and the outlook for the first half of 2009.
.
The Board is pleased to report that the Company achieved all its growth targets during 2008. The Company’s full year results are
expected to be in line with market expectations despite challenging conditions for the Company and sector during the last quarter of
the year.
The Company will report its final audited figures in March 2009.
Highlights
Solar cells – 65.3Megawatts (“MW”)of production output achieved
Cell manufacturing capacity increased to 100MW per annum (2007 : 50MW)
Solar modules - 43.3MW of production output manufactured from Jetion solar cells
Module production capacity increased to 60MW per annum from 40MW
Substantial sales growth in Jetion Europe
13.9MW of shipments in 2008 (2007:3.5MW)
Average manufacturing capacity utilisation rate improved for the year - increased to over 97% (2007 : 93%), significantly
higher than the average industry level
Ranked #1 in Deloitte Technology Fast 50 China 2008 and #2 in Deloitte Technology Fast 500 Asia Pacific 2008
Operational Update
In 2008, the Company’s output of solar cells was 65.3MW (2007: 35.2MW) and the module production output was 43.3MW (2007:
8.2 MW), increasing by 85.5% and 428.1% respectively, compared to 2007.
The Company’s cell production capacity expansion, to 100MW per annum from 50MW per annum, was completed by the end of June
2008, 3 months ahead of schedule and has now commenced production.
In addition, the Company continues to develop its in-house capacity to convert solar cells into modules. Module capacity increased to
60MW per annum as at 31 December 2008, from 40MW per annum at the end of the previous financial year. The expansion in
module capacity was also completed 3 months ahead of schedule and commenced production in July.
The Company sold 19.6MW solar cells and 45.2MW solar modules for the whole year, of which 76% were shipped overseas and 24%
were distributed within China. Jetion’s high-grade sales network in Europe and its high-quality and reliable products contributed
greatly to the Company’s continuing success in growing its sales revenues.
The Company also made progress in cost control. Its average cell conversion efficiency increased to 16.8% from 16.5%; and the
utilisation rate achieved was 97%. These improvements helped the Company’s cost control capability, attaining the leading level in
the industry.
Outlook for 2009
Q4 2008 saw a substantial reduction in trading conditions as experienced by the wider solar market. This has been offset by reduced
purchase prices for silicon and current indications are that market conditions are quickly returning to a more normal pattern.
Management believe that the business enters 2009 well prepared for a normalisation in trading with reduced volatility. The Company
has concentrated on maintaining its already excellent utilisation rates and yields and cost cutting efforts as well as maintaining sales, for which it currently has an order backlog representing a significant portion of the Company’s capacity for 2009. In addition, Jetion is also benefiting from lower raw material costs.
Jetion remains flexible regarding future expansion plans. Whilst the Company is committed to expanding its capacity in the medium
term, it is balancing this with the effect of a slowdown in the global economy and ensuring that any capacity expansion reflects
anticipated levels of demand in the market place and is financed at reasonable costs.
Commenting on trading,Roger Gai, Chief Executive of Jetion said:
”2008 has been a very important year for Jetion. We have not only accomplished the set plan in terms of our scale of operation, but
we have also achieved good progress in cost control and R&D. We believe that these achievements provide a firm foundation for the
Company’s future development.
Management is confident that Jetion is well placed to continue to strengthen the business whilst taking protective measures in these
difficult market conditions.
I would like to express my gratitude to our investors, customers and suppliers who have given us great support and
encouragement.”
Hat denn keiner von Euch ne Antwort auf meinen Beitrag #151 ?
Ich hoffe, die heutige Kursentwicklung gibt eine gute Indikation auf die bevorstehenden Zahlen. Im Vergleich zu sehr vielen Solarwerten sieht Jetion jetzt gar nicht mal so schlecht aus. Jahreshoch.
Einziges Manko - das Handelsvolumen mit 75k ist nicht gerade sehr hoch.
MfG.
s.
Einziges Manko - das Handelsvolumen mit 75k ist nicht gerade sehr hoch.
MfG.
s.
Antwort auf Beitrag Nr.: 31.373.835 von meinolf67 am 03.09.07 14:28:40Für die denen es genauso geht wie mir. Nicht ärgern das ihr nicht mehr gekauft habt, freut das ihr nicht verkauft habt.
Antwort auf Beitrag Nr.: 36.723.200 von ibmisout am 07.03.09 23:44:33Hallo ibmisout!
Ich habe übrigens nochmal in die Historie geschaut.
Im letzten Jahr kamen die vorläufigen Zahlen am 31.3. und der komplette Jahresbericht am 20.6.
Im Finanzkalender ist der Jahresbericht auch jetzt erst für Juni avisiert.
Gruß
s.
Ich habe übrigens nochmal in die Historie geschaut.
Im letzten Jahr kamen die vorläufigen Zahlen am 31.3. und der komplette Jahresbericht am 20.6.
Im Finanzkalender ist der Jahresbericht auch jetzt erst für Juni avisiert.
Gruß
s.
heute zieht Jetion ja mächtig an
Ich hoffe, es geht den ganzen Tag so weiter
Ich hoffe, es geht den ganzen Tag so weiter
übrigens, der chart, den ich am 23.03 gepostet habe, bezieht sich auf die Jetion-Kurse in London.
hier eine interessante News - sollte etwas dran sein, wird dies sicher auch Jetion betreffen:
Steht China vor gigantischer Solar-Subventionswelle?
http://www.cash.ch/boerse/kursinfo/news/Meyer%20Burger%20Tec…
hier eine interessante News - sollte etwas dran sein, wird dies sicher auch Jetion betreffen:
Steht China vor gigantischer Solar-Subventionswelle?
http://www.cash.ch/boerse/kursinfo/news/Meyer%20Burger%20Tec…
.
Jetion Holdings Limited (AIM: JHL), the manufacturer of high-performance solar cells and modules, provides an update on its audited accounts for the year ended 31 December 2008.
In January 2008, the Company gave a trading update indicating its full year results were expected to be in line with expectations. The audit process is now nearing completion and in advance of the audited results being announced, the Company believes it is appropriate to issue a further update.
The audited results for 2008 will show sales and gross profit in line with market expectations.
However, after discussions with its auditors, the Board has decided on a change to the Company's accounting policies and on additional provisions against inventory and prepayments to suppliers, as a consequence of which the Company's profit before tax is expected to be reduced by approximately US$5 million. Accordingly, the profit before tax will be below market expectations but not below US$20 million.
Due to the turbulent market conditions in the last quarter of 2008 affecting the operations of the Company, the Board has decided it would be prudent to make additional provisions against inventory and prepayments to suppliers at the year end totalling approximately US$3 million. Of this figure, US$1.8 million relates to prepayments to suppliers for silicon raw materials that, whilst paid for by the Company, have not yet been received post the year end. The balance of US$1.2 million relates to stock write downs.
In addition, the change in accounting policy relates to the group reorganisation that took place in 2006, prior to the Company's Admission to AIM in July 2007. This reorganisation will now be accounted for using acquisition accounting (previously merger accounting was used) and this change will result in an additional depreciation charge in 2008 of approximately US$2.2 million and consequential restatements of the figures for 2007.
The Company expects the audited preliminary results will be announced shortly.
http://moneyextra.uk-wire.com/cgi-bin/articles/2009040908515…
MfG.
s.
Jetion Holdings Limited (AIM: JHL), the manufacturer of high-performance solar cells and modules, provides an update on its audited accounts for the year ended 31 December 2008.
In January 2008, the Company gave a trading update indicating its full year results were expected to be in line with expectations. The audit process is now nearing completion and in advance of the audited results being announced, the Company believes it is appropriate to issue a further update.
The audited results for 2008 will show sales and gross profit in line with market expectations.
However, after discussions with its auditors, the Board has decided on a change to the Company's accounting policies and on additional provisions against inventory and prepayments to suppliers, as a consequence of which the Company's profit before tax is expected to be reduced by approximately US$5 million. Accordingly, the profit before tax will be below market expectations but not below US$20 million.
Due to the turbulent market conditions in the last quarter of 2008 affecting the operations of the Company, the Board has decided it would be prudent to make additional provisions against inventory and prepayments to suppliers at the year end totalling approximately US$3 million. Of this figure, US$1.8 million relates to prepayments to suppliers for silicon raw materials that, whilst paid for by the Company, have not yet been received post the year end. The balance of US$1.2 million relates to stock write downs.
In addition, the change in accounting policy relates to the group reorganisation that took place in 2006, prior to the Company's Admission to AIM in July 2007. This reorganisation will now be accounted for using acquisition accounting (previously merger accounting was used) and this change will result in an additional depreciation charge in 2008 of approximately US$2.2 million and consequential restatements of the figures for 2007.
The Company expects the audited preliminary results will be announced shortly.
http://moneyextra.uk-wire.com/cgi-bin/articles/2009040908515…
MfG.
s.
RNS Number : 6956Q
Jetion Holdings Limited
16 April 2009
For Immediate Release
16 April 2009
Jetion Holdings Limited
('Jetion' or the 'Company')
Notification of Preliminary Results
Jetion Holdings Limited (AIM: JHL), the manufacturer of solar cells and modules, will announce its Preliminary Results for the year ended 31 December 2008 on Friday 24 April 2009.
An analyst briefing will be held at 9.30am on the morning of results at Buchanan Communications, 45 Moorfields, London EC2Y 9AE.
For further information please contact:
Jetion Holdings Limited
Gabriel Kow
+44 (0) 7810 568 788
Evolution Securities Limited
+44 (0) 20 7071 4300
(Nominated adviser)
Tim Redfern / Barry Saint / Adam James / Esther Lee
Evolution Securities China Limited
+44 (0) 20 7220 4850
(Financial adviser and broker)
Anthony Schindler
Buchanan Communications
+44 (0) 20 7466 5000
Mark Edwards / Ben Willey / Christian Goodbody
Jetion Holdings Limited
16 April 2009
For Immediate Release
16 April 2009
Jetion Holdings Limited
('Jetion' or the 'Company')
Notification of Preliminary Results
Jetion Holdings Limited (AIM: JHL), the manufacturer of solar cells and modules, will announce its Preliminary Results for the year ended 31 December 2008 on Friday 24 April 2009.
An analyst briefing will be held at 9.30am on the morning of results at Buchanan Communications, 45 Moorfields, London EC2Y 9AE.
For further information please contact:
Jetion Holdings Limited
Gabriel Kow
+44 (0) 7810 568 788
Evolution Securities Limited
+44 (0) 20 7071 4300
(Nominated adviser)
Tim Redfern / Barry Saint / Adam James / Esther Lee
Evolution Securities China Limited
+44 (0) 20 7220 4850
(Financial adviser and broker)
Anthony Schindler
Buchanan Communications
+44 (0) 20 7466 5000
Mark Edwards / Ben Willey / Christian Goodbody
alter falter:
London Stock Exchange 68,00 GBp +12,50 +22,52%
London Stock Exchange 68,00 GBp +12,50 +22,52%
NS Number : 0730R
Jetion Holdings Limited
24 April 2009
For Immediate Release 24 April 2009
Jetion Holdings Limited
("Jetion or "the Company")
Preliminary Results for the year ended 31 December 2008
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 2008.
HIGHLIGHTS
* Sales up 141% to US$250.9m (2007 : US$104.0m (restated*))
* Gross profit up 168% to US$40.8m, (2007 : US$15.2m (restated*))
* Gross margin up 11.6% to 16.3%, (2007 : 14.6% (restated*))
* Pre Tax Profit up 328% to US$20.1m (2007 : US$4.7m (restated*))
* Adjusted EBITDA (excl. foreign exchange losses) up 315% to US$34.5m (2007: US$8.3m (restated*))
* Pro-forma earnings per share up 160% to US 24.0 cents (2007 : US 9.2 cents (restated*))
* Cell manufacturing capacity doubled in the year to 100MW pa (2007: 50MW); module capacity increased to 60MW pa (2007: 40MW).
* Total PV module shipments were 45.2MW, representing an increase of 451% from 8.2MW in 2007.
* Jetion was named the Fastest-Growing Company in Deloitte Technology Fast 50 China 2008 and ¿2 in Deloitte Technology Fast 500 Asia Pacific 2008.
* 2007 reporting figures have been restated, please refer to below for the details of prior year adjustments.
Commenting on the results Chairman Gabriel Kow said:
"I am delighted to report another year of strong growth during 2008. Despite the turbulent market conditions that emerged in Q4 2008, the Company has established a strong foundation to deal with the challenges ahead. I continue to be optimistic about the Company in 2009 and strongly believe that we will continue to move forward in accomplishing our goals."
For further Information, contact :
Jetion Holdings Limited
Gabriel Kow +44 (0) 7810 568 788*
* *
Evolution Securities Limited +44 (0) 20 7071 4300
(Nominated adviser)
Tim Redfern / Barry Saint / Robert Collins / Adam James *
/ Esther Lee
Evolution Securities China Limited +44 (0) 20 7220 4850
(Financial adviser and broker)
Anthony Schindler *
Buchanan Communications +44 (0) 20 7466 5000
Mark Edwards / Ben Willey / Christian Goodbody *
CHAIRMAN'S STATEMENT
2008 has been a year of fast growth for Jetion Holdings Limited. In the second half of 2008, the solar cell production capacity of the Company doubled from 50MW p.a. to 100MW p.a. and the module capacity increased from 40MW p.a. to 60MW p.a. This expansion of our production capacity has enabled Jetion to capture a greater proportion of the value chain by increasing the proportion of solar modules in its product and revenue mix.
In 2008, the Company made significant improvements to its cost controls, conversion efficiency rates, brand building and customer relations. All these have enabled the Company to meet its performance targets for the year and to steadily improve its market profile and enhance its service to customers.
The integration of the production chain has transformed the Company into a manufacturer of both solar cells and modules. The Company is now equipped with wafer slicing capacity as well as solar cell and module production, allowing us to offer high quality module products to our customers.
The solar industry remains one of the world's fastest growing industries. We continue to achieve substantial sales growth and increasing recognition from customers in Europe where solar applications are becoming sophisticated. We aim to expand our customer base in Europe and are well-positioned to enter new overseas markets, such as the US. It is highly encouraging to see many governments implementing plans to encourage solar applications such as the subsidy policy issued by the PRC government in March 2009 for PV applications market in China.
Since its listing on AIM in July 2007, the majority of the Company's short term growth plans have been achieved. Despite unsettled market conditions, particularly in the last quarter of 2008. During the year, the Company recorded sales revenue of US$250.9 million and adjusted EBITDA (excluding foreign exchange losses) of US$34.5 million, representing increases of 141.3% and 315.6% respectively over 2007, a highly credible financial performance in the current economic conditions
The Company has been facing the challenges of falling prices, and slowing demand from Europe since Q4 2008. Nevertheless, the partial offset of falling input prices and the overall performance for the preceding three quarters has enabled us to meet our annual performance targets. The efforts of our staff have helped us operate soundly and safely through this difficult time with enthusiasm, confidence and relentless efforts.
As Chairman, I am delighted to witness the strong growth of the Company during 2008. Despite the turbulent market conditions that emerged from Q4 2008, the Company has established strong foundations to deal with the challenges ahead. I continue to be optimistic about the Company in 2009 and strongly believe that we will continue to move forward in accomplishing our goals.
I would like to take this opportunity to thank our directors, officers and staff for their passion in the solar business and their perseverance in achieving our objectives and solid results in 2008. At the same time, I would also like to thank all our investors for their continued support and trust in the Company.
Gabriel Kow
Chairman
24 April 2009
CHIEF EXECUTIVE'S REVIEW
2008 has been an extraordinary year for the team during which we achieved very satisfactory results despite turbulent market conditions. As a result of our production capacity expansion, our solar cell production capacity reached 100MW p.a. in mid-2008. The solar cell output for the year amounted to 65.3MW (2007: 35.2MW) and solar module output amounted to 43.3MW (2007: 8.2MW) with an average conversion efficiency of 17% (2007: 16.5%). Shipments of solar cells were 18.2MW (excluding processing income) and shipments of solar modules were 45.2MW. Sales revenue for the year reached US$250.9 million (2007: restated* US$104.0 million) and gross profit was US$40.8 million (2007: restated* US$15.2 million). Both the sales revenue and profitability of the Company have increased significantly when compared to 2007.
Strategy
According to an independent research report issued by Solarbuzz for 2009, the solar industry will continue to achieve very strong growth with solar energy applications gaining further recognition from numerous countries throughout the year. Capitalising on the opportunities arising from the fast growing solar industry, we aim to become one of the leading designers and manufacturers of solar system solutions in the world. We will continue to increase our product quality, enhance our vertical integration within the value chain and establish a comprehensive and effective global sales network. In addition, we will continue to provide high quality services to our customers whilst maintaining technology development to further develop our professional brand.
Operations
In 2008, the Company recorded significant improvements in the majority of its performance targets. In particular, we have made substantial progress as regards to our product mix, technology standards, product quality and inventory control.
Sales of solar modules increased from 22.6% of total sales in 2007 to 76.6% in 2008, which contributed to the overall increase in profit margins. The Company has transformed itself into a major manufacturer of solar modules having had market sales of predominately solar cells prior to 2008. As we have developed our sales channels, the Company further expanded its sales coverage from Germany and Spain to other European countries. In 2008, the revenue breakdown was between China (c. 24%), Germany (c. 56%), Spain (c. 16%), Italy (c. 2%) and other emerging markets (c. 2%). Through our expanding sales channels, we have widened our customer base and have established a sound relationship with a number of respected solar buyers, such as Sch?age Solar and Bayerische Solar.
In 2008, we substantially improved the conversion efficiency of our solar cells. Our average conversion efficiency rate reached 17% compared to the maximum conversion efficiency rate under mass production of 18%. This improvement is attributable to our continued emphasis on and efforts into R&D, process upgrades and technical excellence. Through consistent improvement, our technology team not only generated a significant increase in the conversion efficiency rate of monocrystalline solar cells, but it also fully mastered the technology of high efficiency polycrystalline solar cells and UMG solar cells. These technological advances have enabled us to offer a more diversified product mix to our customers and provided strong post-sales support and services for our customers.
After obtaining the European TUV accreditation in October 2007, we applied for the key (Underwriters Laboratories) UL product certification for the US and Canadian markets. The company was granted this accreditation in March 2009, providing validation that the Company's products are in compliance with the same strict international requirements on product quality and safety as our counterparts in Europe and the US and will provide the Company with significant leverage for entering into new markets such as the US and Canada. Concurrently, ongoing improvements in our product quality and efficiency also bore fruit with a yield of over 98% and a utilization rate of over 90%. We believe that the quality of our product compares favorably with our most advanced competitors worldwide.
Inventory control was also one of the key development areas in 2008. As a result of stringent inventory controls, the possible downside risk of falling raw material prices and product selling prices since Q4 2008 was controlled and managed effectively. The inventory of raw materials and finished products were kept at a minimum which avoided the uncertainties involving market price volatility. Despite the losses incurred as a result of the foreign exchange fluctuations in 2008, such losses were minimized due to the adjustment of product mix and customer base and appropriate foreign exchange hedging by the Company. As a result of our efforts, the Company maintained a sound net cash position of US$3.6 million (2007: US$9.4 million) at the year end. We fully understand the importance of maintaining sufficient cash under current unstable economic conditions.
The Company was granted the Fastest-Growing Company in Deloitte Technology Fast 50 China and the second prize in Deloitte Technology Fast 500 Asia Pacific 2008 in November and December 2008, respectively. These awards provide significant motivation and encouragement to the Company. We truly believe that our efforts will lead to an increase in shareholder value as we strive towards achieving our long-term goals.
Outlook
The falling raw material prices and product prices since Q4 2008 are a direct result of the global economic crisis. We believe that the decrease in solar product prices is favourable to gaining governments' confidence and support for solar power generation from which our end users will benefit. We are encouraged to see an increasing number of families across the globe using clean and more affordable solar energy. We aim to maintain our profitability amid price and currency fluctuations based on our market judgment and through establishing sound relationships with our suppliers and customers.
Looking ahead, the global economy is widely expected to shrink further due to the current crisis and there are still many uncertainties ahead of us. However, we remain confident that the solar industry will take a lead in recovering from the economic downturn. Since March 2009, the operating conditions of the Company have substantially returned to the same level as the corresponding period last year and we have had steady orders from our customers. Coupled with the increasing demand from the emerging markets, we will be confident that we are able to accomplish our targets in 2009.
Lijin Gai
Chief Executive Officer
24 April 2009
FINANCIAL REVIEW
Overview
Total group sales during the year, with the benefit of an additional 50MW of capacity, increased to US$250.9 million (2007: restated* US$104.0 million). This increase in turnover reflects an increase in cell production to 65.3MW (2007: 35.2MW) and an increase in conversion of cells to modules of 43.3MW (2007: 8.2MW) following the addition of two production lines in mid-2008.
Gross profit increased to US$40.8 million (2007: restated* US$15.2 million) and the gross margin was 16.3% (2007: restated* 14.6%). 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. However, the impact of the global distressed economy was felt during the fourth quarter of 2008 when gross margin for the last three months fell significantly to 9.6%. This fall was due to market price reductions, which, because of the time lags, was not counteracted by a fall in input prices until later.
Operating profit before share-based expense for the year rose to US$31.5 million (2007: restated* US$5.6 million) after taking into account provisions for inventory of US$1.2 million (2007: Nil) and provisions for prepayment to suppliers of US$1.8 million (2007: Nil). Adjusted EBITDA in 2008 (excluding foreign exchange losses) amounted to US$34.5 million (2007: restated* US$8.3 million).
Net finance costs were US$9.7 million (2007: US$0.1 million). This reflects the impact of substantial amounts of cash and cash equivalents denominated in Euros being pledged for bank debts and notes denominated in Renminbi for hedging purposes; the adverse effect of foreign exchange losses of US$7.8 million (2007: restated* US$0.06 million) due to exposure of sales in Euros and costs in Renminbi and U.S. dollars; and net fair value losses of leveraged foreign exchange contracts.
Income tax for 2008 was US$3.7 million (2007: Nil) with an effective tax rate for 2008 of 12.5% (2007: Nil). 2008 was the first year of tax being chargeable at the preferential rate of 12.5% (being a 50% reduction of the statutory tax rate of 25%) upon expiry of the tax-free holiday.
The profit attributable to the equity holders of the Company amounted to US$16.4 million (2007: restated* US$4.7 million). Basic and diluted earnings per share before the adjustment for share-based expenses amounted to US24.0 cents (2007: restated* US15.1 cents). Pro forma earnings per share, which best shows the trend in earnings per share, amounted to US24.0 cents (2007: restated* US9.2 cents).
Prior year adjustments
Following further consultation with its advisors, the Company has decided to change the accounting treatment of the reorganization which took place before the listing of its shares on AIM on 6 July 2007, from a merger accounting basis to an acquisition accounting basis. As a result of this change, there has been an upward revaluation of net assets, which has been dealt with as a prior year adjustment. Consequently, the depreciation and amortization charge has increased by around US$2.2 million for the current period. The comparative figures for 2007 have been restated to reflect this change.
Balance sheet & cash flow
At the year end, total equity was US$107.5 million (2007: restated* US$83.4 million). The Group had net cash of US$3.6 million at the year end (2007: US$9.4 million). The decrease in net cash in the year was due to the costs of expanding the production facilities.
Prepayments to suppliers for silicon raw materials amounted to US$34.3 million at 31 December 2008 (2007: restated* US$39.5 million). 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 26.3% (2007 restated* 8.0%).
The net cash inflow in the year from operating activities after interest and taxation payments was US$15.4 million (2007: restated* outflow of US$30.4 million). Net cash used in investing activities in 2008 was US$19.2 million (2007: restated* US$11.6 million) being principally the addition of 50MW of solar cell production capacity and fixed assets in construction relating to the planned production capacity.
Going concern
In accordance with the recommendations of the Combined Code, the Directors have considered the budgets, forecasts, cash flows and the outlook from the operating companies and consider that the Company and the Group have adequate financial resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing these financial statements.
Stephen Hon Cheung So
Chief Financial Officer
**2007 reporting results have been restated, please refer to below for the details of prior year adjustments.
CONSOLIDATED INCOME STATEMENT
for the year ended 31 December 2008
2008 2007
US$'000 US$'000
(restated)
Turnover 250,913 104,043
Cost of sales (210,111 ) (88,866 )
Gross profit 40,802 15,177
Other operating income 989 167
Distribution costs (1,646 ) (1,052 )
Administrative expenses (6,476 ) (7,312 )
Research and development (1,225 ) (2,395 )
expenses
Other operating expenses (2,391 ) -
Results from operating 30,053 4,585
activities
- - - - - - - - - - - - - - - - - - - - - - -
- - -
Interest income 358 905
Interest expense (2,259 ) (938 )
Net foreign exchange loss (7,323 ) (62 )
Net fair value losses of (454 ) -
leveraged foreign
exchange contracts
Net financing expenses (9,678 ) (95 )
- - - - - - - - - - - - - - - - - - - - - - -
- - -
Share of (losses)/profits of a (236 ) 207
jointly controlled entity
- - - - - - - - - - - - - - - - - - - - - - -
- - -
Profit before taxation 20,139 4,697
Income tax (3,717 ) -
Profit for the year 16,422 4,697
attributable to equity
shareholders of the Company
Earnings per share (US cents)
Basic and diluted earnings per 22.13 12.50
share
(2007: restated)
Pro forma earnings per share 24.03 9.18
(2007: restated)
CONSOLIDATED BALANCE SHEET
at 31 December 2008
2008 2007
US$'000 US$'000
(restated)
Non-current assets
Property, plant and equipment 43,247 19,078
Lease prepayments 2,768 3,221
Prepayments for acquisition of 855 5,911
property, plant and equipment
Intangible assets 3,042 4,687
Interest in a jointly 17 -
controlled entity
49,929 32,897
- - - - - - - - - - - - - - - - - - - - - - -
- - -
Current assets
Inventories 9,803 7,763
Trade and other receivables 56,576 48,167
Pledged bank deposits 27,144 1,452
Cash and cash equivalents 21,180 21,047
114,703 78,429
- - - - - - - - - - - - - - - - - - - - - - -
- - -
Current liabilities
Bank loans
- unsecured 14,097 6,936
- secured 30,601 6,151
Trade and other payables 6,503 11,441
Amount due to a shareholder 979 1,691
Current tax payable 2,773 -
54,953 26,219
- - - - - - - - - - - - - - - - - - - - - - -
- - -
Net current assets 59,750 52,210
- - - - - - - - - - - - - - - - - - - - - - -
- - -
Total assets less current 109,679 85,107
liabilities
- - - - - - - - - - - - - - - - - - - - - - -
- - -
CONSOLIDATED BALANCE SHEET (continued)
at 31 December 2008
2008 2007
US$'000 US$'000
(restated)
Non-current liabilities
Deferred tax liabilities 2,213 1,735
- - - - - - - - - - - - - - - - - - - - - - - - - -
Net assets 107,466 83,372
Capital and reserves
Share capital - -
Reserves 107,466 83,372
Total equity attributable to 107,466 83,372
equity
shareholders of the Company
CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY
for the year ended 31 December 2008
Share capital Share premium Capital reserve General reserve fund Treasury shares Exchange reserve Retained earnings Total equity
US$'000 US$'000 US$'000 US$'000 US$'000 US$'000 US$'000 US$'000
At 1 January 2007 4,947 - - - - 223 4,530 9,700
Prior year adjustments in
respect of:
- business combination (4,946 ) - - - - 118 9,005 4,177
- appropriation - - - 462 - - (462 ) -
As restated, after prior year 1 - - 462 - 341 13,073 13,877
adjustments
Shares issued 9 - - - - - - 9
Cancellation of ordinary (10 ) 10 - - - - - -
shares of $1 each
Shares issued upon exercise of - 5,000 - - - - - 5,000
convertible notes
Shares issued to employee - 3,395 - - (3,395 ) - - -
benefit trust
Shares issued by way of - 63,294 - - - - - 63,294
placement
Share issuing costs - (6,313 ) - - - - - (6,313 )
Equity-settled share based - (958 ) 958 - - - - -
transactions (restated)
Exchange differences on - - - - - 2,808 - 2,808
translation of the financial
statements of a subsidiary
(restated)
Profit for the year (restated) - - - - - - 4,697 4,697
Appropriation (restated) - - - 1,095 - - (1,095 ) -
At 31 December 2007 (restated) - 64,428 958 1,557 (3,395 ) 3,149 16,675 83,372
CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (continued)
for the year ended 31 December 2008
Share capital Share premium Capital reserve General reserve fund Treasury shares Exchange reserve Retained earnings Total equity
US$'000 US$'000 US$'000 US$'000 US$'000 US$'000 US$'000 US$'000
At 1 January 2008 - 65,386 - - (3,395 ) 3,230 12,426 77,647
Prior year adjustments in
respect of:
- business combination - - - - - 620 7,179 7,799
- appropriation - - - 1,557 - - (1,557 ) -
- elimination of unrealised - - - - - - (394 ) (394 )
*profits
- share warrants - (958 ) 958 - - - - -
- phantom share options - - - - - - (979 ) (979 )
- advance from a shareholder - - - - - (701 ) - (701 )
*of the Company
As restated, after prior year - 64,428 958 1,557 (3,395 ) 3,149 16,675 83,372
adjustments
Equity-settled share-based - (1,477 ) - - 3,395 - - 1,918
transactions
Exchange differences on
translation of the financial
statements of
- a subsidiary - - - - - 5,779 - 5,779
- a jointly-controlled entity - - - - - (25 ) - (25 )
Profit for the year - - - - - - 16,422 16,422
Appropriation - - - 2,330 - - (2,330 ) -
At 31 December 2008 - 62,951 958 3,887 - 8,903 30,767 107,466
CONSOLIDATED CASH FLOW STATEMENT
for the year ended 31 December 2008
2008 2007
US$'000 US$'000
Operating activities
Profit before taxation 20,139 4,697
Adjustments for:
- Depreciation and 4,289 2,750
amortisation
- Loss on disposal of lease 67 -
prepayments
- Loss on disposal of 27 -
property, plant and equipment
- Impairment loss on 347 -
intangible assets
- Impairment loss on 1,816 -
prepayments and other
receivables
- Interest expense 2,259 938
- Interest income from bank (358 ) (905 )
deposits
- Net fair value losses of 454 -
leveraged foreign exchange
contracts
- Share of (losses)/profits of 236 (207 )
a jointly controlled entity
- Unrealised gains from 5 394
transactions with a jointly
controlled entity
- Foreign exchange loss 118 1,172
Operating profit before 29,399 8,839
changes in working capital
Increase in inventories (1,517 ) (3,681 )
Increase in trade and other (5,963 ) (38,440 )
receivables
(Decrease)/increase in trade (5,890 ) 2,862
and other payables
Net cash generated from/(used 16,029 (30,420 )
in) operations
PRC Enterprise Income Tax paid (582 ) -
15,447 (30,420 )
- - - - - - - - - - - - - - - - - - - - - -
- - - -
Investing activities
Payment for the acquisition of (20,062 ) (12,503 )
property, plant and equipment
Proceeds from disposal of 534 -
lease prepayments
Interest received 358 905
Net cash used in investing (19,170 ) (11,598 )
activities
- - - - - - - - - - - - - - - - - - - - - -
- - - -
CONSOLIDATED CASH FLOW STATEMENT (continued)
for the year ended 31 December 2008
2008 2007
US$'000 US$'000
(restated)
Financing activities
Proceeds from issuing - 5,000
convertible notes
Uplift of pledged deposits 87,601 3,194
Placement of pledged deposits (113,195 ) (4,243 )
Proceeds from bank loans 90,870 27,163
Repayment of bank loans (60,140 ) (27,531 )
Proceeds from issue of shares - 63,304
Share issuing costs - (6,313 )
Repayment of amount due to a (438 ) -
shareholder
Interest paid (2,259 ) (938 )
Net cash generated from 2,439 59,636
financing activities
- - - - - - - - - - - - - - - - - - - - - - -
- - -
Net (decrease)/increase in (1,284 ) 17,618
cash and cash equivalents
Cash and cash equivalents at 21,047 2,570
the beginning of the year
Effect of foreign exchange 1,417 859
rate changes
Cash and cash equivalents at 21,180 21,047
the end of the year
GENERAL INFORMATION
Jetion Holdings Limited (''the Company'') was incorporated in the British Virgin Islands (''BVI'') under the BVI Business Companies Act, 2004 on 18 July 2006. The address of its registered office is 2nd floor, Abbott Building, Road Town, Tortola, British Virgin Islands and its principal place of business is at No. 1011, Zhencheng Road, Shengang Industrial District, Jiangyin 214443, The People's Republic of China. The Company's shares were listed on the Alternative Investment Market (''AIM'') operated by London Stock Exchange plc. on 6 July 2007.
The consolidated financial statements of the Company for the year ended 31 December 2008 comprise the Company and its subsidiaries (together referred to as the ''Group'') and the Group's interest in a jointly controlled entity.
BASIS OF PREPARATION
The financial statements are presented in United States Dollars (''USD''), rounded to the nearest thousand. They are prepared on the historical cost basis except that the following assets and liabilities are stated at their fair values:
- derivative financial instruments;
- compound financial instruments; and
- cash-settled share-based payment transactions.
The preparation of financial statements in conformity with IFRSs requires management to make judgements, estimates and assumptions that affect the application of policies and reported amounts of assets and liabilities, income and expenses. The estimates and associated assumptions are based on historical experience and various other factors that are believed to be reasonable under the circumstances, the results of which form the basis of making the judgements about carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
PRIOR YEAR ADJUSTMENTS
* The Group underwent a reorganisation before the listing of its shares on the AIM on 6 July 2007. In the prior year, the reorganisation was considered to be a business combination of entities under common control and, therefore, merger accounting was applied.
During the current year, management of the Group has revisited the substance of the reorganisation. Based on a legal opinion obtained from the Company's lawyers and all information available to date, management now considers that there was a change in equity ownership in a subsidiary, Jiangyin Jetion Science and Technology Company Limited (''Jiangyin Jetion''), during the reorganisation. Due to this change of equity ownership, the then shareholder of Jiangyin Jetion could no longer exercise the power to govern the financial and operating policies so as to obtain benefits from Jiangyin Jetion. All economic benefits relating to Jiangyin Jetion were attributable to the new shareholders. As such, in accordance with prevailing accounting standards, the change in ownership in Jiangyin Jetion should have been treated as an acquisition using purchase accounting. The change in the application of accounting policy has been applied retrospectively.
The acquisition had the following effect on the Group's assets and liabilities under purchase accounting in September 2006 (''the acquisition date''):
Pre- acquisition Fair value Recognised values on acquisition
carrying amount adjustment
US$'000 US$'000 US$'000
Property, plant and equipment 7,126 3,480 10,606
Lease prepayments 1,292 1,318 2,610
Intangible assets - 6,328 6,328
Inventories 8,378 397 8,775
Trade and other receivables 15,246 - 15,246
Cash and bank deposits 1,476 - 1,476
Bank loans (11,498 ) - (11,498 )
Trade and other payables (13,959 ) (13,959 )
Deferred tax liabilities - (1,623 ) (1,623 )
Net identifiable assets and 8,061 9,900 17,961
liabilities
Gain on acquisition 12,852
Consideration paid, satisfied 5,109
in cash
Less: Cash acquired (1,476 )
Net cash outflow 3,633
As a result of the change in the application of accounting policy, the Group's profit before taxation for the year ended 31 December 2008 decreased by US$2,193,000, with the corresponding amounts credited to fixed assets, lease prepayment, intangible assets and exchange reserves.
(b) In line with normal practice for PRC companies, Jiangyin Jetion had transferred 10% of its profits after taxation to the general reserve fund for the years ended 31 December 2006 and 2007 pursuant to a resolution passed by its board of directors. In prior years, no appropriation was recorded in the Company's consolidated financial statements.
As a result of this prior year adjustment, an amount of US$2,330,000 was transferred from retained earnings to general reserve fund for the year ended 31 December 2008.
(c) In the prior year, unrealised profits resulting from transactions between Jiangyin Jetion and the Group's jointly controlled entity were not eliminated to the extent of the Group's interest in the jointly controlled entity pursuant to IAS 31 ''Interests in Joint Ventures''. A prior year adjustment has been made to correct this.
As a result of this prior year adjustment, the Group's profit before taxation for the year ended 31 December 2008 has decreased by US$5,000, with the corresponding amount credited to interest in a jointly-controlled entity.
(d) As part of the consideration for the listing of its shares on the AIM, the Company granted certain share warrants to Collins Stewart Europe Limited (''Collins Stewart''), the nominated adviser and broker of the Company for its listing on the AIM, on 3 July 2007. Pursuant to the warrant agreement, Collins Stewart was granted the right to subscribe for the Company's shares at the placing price of 151 pence per ordinary share in an amount up to 1% in number of the issued shares of the Company. Such right may be exercised at any time during the period of three years following the admission of the Company's shares to trade on the AIM.
In accordance with prevailing accounting standards, these share warrants should have been accounted for as equity-settled transactions in accordance with IFRS 2 ''Share-based Payment''. In the prior year, the Company did not account for these share warrants in its consolidated financial
statements as there was no effect on either the profit for the year or shareholders' equity at 31 December 2007. In these financial statements, a prior year adjustment has been made to record the relevant amount in the appropriate reserves.
There is no effect on the income statement for the year ended 31 December 2008 as a result of this prior year adjustment.
(e) As disclosed in the Company's AIM admission document, a major shareholder of the Company has granted a call option to an employee benefit trust (''EBT'') to make available 4,796,211 ordinary shares to the EBT for the purpose of satisfying phantom share awards to be granted to certain employees of the Group and a former employee. The 4,796,211 ordinary shares made available by the major shareholder of the Company will be disposed of in the market by the EBT to fund payments under the scheme.
According to the scheme, the Company will make a cash payment to the grantees calculated as the difference between the market value of the Company's shares at the date of exercise and the exercise price of these phantom shares. The exercise of these phantom shares is subject to certain vesting and performance conditions.
On 6 December 2007, 4,720,000 phantom shares were granted to certain directors and employees of the Company at nil consideration with an exercise price of 151 pence per share.
In accordance with prevailing accounting standards, the above-mentioned phantom share arrangement should have been accounted for in accordance with IFRS 2 ''Share-based Payment'' and IAS 39 ''Financial Instruments: Recognition and Measurement''. In the prior year, the Company did not account for this arrangement in its consolidated financial statements and, accordingly, a prior year adjustment has been made to correct this.
As a result of this prior year adjustment, the Group's profit before taxation for the year ended 31 December 2008 increased by US$507,000 with the corresponding amount debited to reserves.
(f) In the prior year, the Company had wrongly credited advances from a shareholder of the Company to the exchange reserve. A prior year adjustment has been made to correct this error.
(g) Certain comparative figures have been reclassified to conform with the current year's presentation in order to better reflect the nature of the balances, as follows:
(i) value added tax recoverable of US$1,037,000 has been reclassified from tax refundable to trade and other receivables;
(ii) prepayments for acquisition of property, plant and equipment of US$5,911,000 have been reclassified from current assets to non-current assets;
(iii) pledged deposits of US$1,452,000 have been classified separately from cash and cash equivalents; and
(iv) research and development expenses of US$2,395,000 have been reclassified separately from distribution costs.
The adjustments for each line item in the consolidated income statement affected for the year ended 31 December 2007 and each line item in the consolidated balance sheet affected as at 31 December 2007 are set out below:
Consolidated income statement for the year ended 31 December 2007
2007 2007
(as previously (as restated)
reported)
US$'000 US$'000 US$'000 US$'000 US$'000 US$'000
(Note (a)) (Note (c)) (Note (e)) (Note (g))
Turnover 106,860 - (2,817 ) - - 104,043
Cost of sales (89,848 ) (1,151 ) 2,423 (290 ) - (88,866 )
Gross profit 17,012 (1,151 ) (394 ) (290 ) - 15,177
Other operating income 167 - - - - 167
Distribution costs (2,958 ) (460 ) - (29 ) 2,395 (1,052 )
Administrative expenses (6,437 ) (215 ) - (660 ) - (7,312 )
Research and development - - - - (2,395 ) (2,395 )
expenses
Results from operating 7,784 (1,826 ) (394 ) (979 ) - 4,585
activities
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
- -
Interest income 905 - - - - 905
Interest expense (938 ) - - - - (938 )
Net foreign exchange loss (62 ) - - - - (62 )
Net financing expenses (95 ) - - - - (95 )
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
- -
Share of profits of a jointly 207 - - - - 207
controlled entity
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
- -
Profit before taxation 7,896 (1,826 ) (394 ) (979 ) - 4,697
Income tax - - - - - -
Profit for the year 7,896 (1,826 ) (394 ) (979 ) - 4,697
attributable to equity
shareholders of the Company
Earnings per share
Basic and diluted earnings per 21.02 (4.86 ) (1.05 ) (2.61 ) - 12.50
share (US cents)
Consolidated balance sheet at 31 December 2007
2007 2007
(as (as restated)
previously reported)
US$'000 US$'000 US$'000 US$'000 US$'000 US$'000 US$'000
(Note (a)) (Note (c)) (Note (e)) (Note (f)) (Note (g))
Non-current assets
Property, plant and equipment 15,603 3,475 - - - - 19,078
Lease prepayments 1,849 1,372 - - - - 3,221
Prepayments for acquisition of - - - - - 5,911 5,911
property, plant and equipment
Intangible assets - 4,687 - - - - 4,687
Interest in a jointly 283 - (283 ) - - - -
controlled entity
17,735 9,534 (283 ) - - 5,911 32,897
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
Current assets
Inventories 7,763 - - - - - 7,763
Trade and other receivables 53,041 - - - - (4,874 ) 48,167
Tax refundable 1,037 - - - - (1,037 ) -
Pledged deposits - - - - - 1,452 1,452
Cash and cash equivalents 22,499 - - - - (1,452 ) 21,047
84,340 - - - - (5,911 ) 78,429
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
Current liabilities
Bank loans
- unsecured 6,936 - - - - - 6,936
- secured 6,151 - - - - - 6,151
Trade and other payables 10,351 - 111 979 - - 11,441
Amount due to a shareholder 990 - - - 701 - 1,691
24,428 - 111 979 701 - 26,219
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
Net current assets 59,912 - (111 ) (979 ) (701 ) (5,911 ) 52,210
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
Total assets less current 77,647 9,534 (394 ) (979 ) (701 ) - 85,107
liabilities
Non-current liabilities
Deferred tax liabilities - 1,735 - - - - 1,735
Total assets 77,647 7,799 (394 ) (979 ) (701 ) - 83,372
Capital and reserves
Share capital - - - - - - -
Reserves 77,647 7,799 (394 ) (979 ) (701 ) - 83,372
Total equity attributable to 77,647 7,799 (394 ) (979 ) (701 ) - 83,372
equity shareholders of the
Company
This information is provided by RNS
The company news service from the London Stock Exchange
END
FR PUURUCUPBGAW
Jetion Holdings Limited
24 April 2009
For Immediate Release 24 April 2009
Jetion Holdings Limited
("Jetion or "the Company")
Preliminary Results for the year ended 31 December 2008
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 2008.
HIGHLIGHTS
* Sales up 141% to US$250.9m (2007 : US$104.0m (restated*))
* Gross profit up 168% to US$40.8m, (2007 : US$15.2m (restated*))
* Gross margin up 11.6% to 16.3%, (2007 : 14.6% (restated*))
* Pre Tax Profit up 328% to US$20.1m (2007 : US$4.7m (restated*))
* Adjusted EBITDA (excl. foreign exchange losses) up 315% to US$34.5m (2007: US$8.3m (restated*))
* Pro-forma earnings per share up 160% to US 24.0 cents (2007 : US 9.2 cents (restated*))
* Cell manufacturing capacity doubled in the year to 100MW pa (2007: 50MW); module capacity increased to 60MW pa (2007: 40MW).
* Total PV module shipments were 45.2MW, representing an increase of 451% from 8.2MW in 2007.
* Jetion was named the Fastest-Growing Company in Deloitte Technology Fast 50 China 2008 and ¿2 in Deloitte Technology Fast 500 Asia Pacific 2008.
* 2007 reporting figures have been restated, please refer to below for the details of prior year adjustments.
Commenting on the results Chairman Gabriel Kow said:
"I am delighted to report another year of strong growth during 2008. Despite the turbulent market conditions that emerged in Q4 2008, the Company has established a strong foundation to deal with the challenges ahead. I continue to be optimistic about the Company in 2009 and strongly believe that we will continue to move forward in accomplishing our goals."
For further Information, contact :
Jetion Holdings Limited
Gabriel Kow +44 (0) 7810 568 788*
* *
Evolution Securities Limited +44 (0) 20 7071 4300
(Nominated adviser)
Tim Redfern / Barry Saint / Robert Collins / Adam James *
/ Esther Lee
Evolution Securities China Limited +44 (0) 20 7220 4850
(Financial adviser and broker)
Anthony Schindler *
Buchanan Communications +44 (0) 20 7466 5000
Mark Edwards / Ben Willey / Christian Goodbody *
CHAIRMAN'S STATEMENT
2008 has been a year of fast growth for Jetion Holdings Limited. In the second half of 2008, the solar cell production capacity of the Company doubled from 50MW p.a. to 100MW p.a. and the module capacity increased from 40MW p.a. to 60MW p.a. This expansion of our production capacity has enabled Jetion to capture a greater proportion of the value chain by increasing the proportion of solar modules in its product and revenue mix.
In 2008, the Company made significant improvements to its cost controls, conversion efficiency rates, brand building and customer relations. All these have enabled the Company to meet its performance targets for the year and to steadily improve its market profile and enhance its service to customers.
The integration of the production chain has transformed the Company into a manufacturer of both solar cells and modules. The Company is now equipped with wafer slicing capacity as well as solar cell and module production, allowing us to offer high quality module products to our customers.
The solar industry remains one of the world's fastest growing industries. We continue to achieve substantial sales growth and increasing recognition from customers in Europe where solar applications are becoming sophisticated. We aim to expand our customer base in Europe and are well-positioned to enter new overseas markets, such as the US. It is highly encouraging to see many governments implementing plans to encourage solar applications such as the subsidy policy issued by the PRC government in March 2009 for PV applications market in China.
Since its listing on AIM in July 2007, the majority of the Company's short term growth plans have been achieved. Despite unsettled market conditions, particularly in the last quarter of 2008. During the year, the Company recorded sales revenue of US$250.9 million and adjusted EBITDA (excluding foreign exchange losses) of US$34.5 million, representing increases of 141.3% and 315.6% respectively over 2007, a highly credible financial performance in the current economic conditions
The Company has been facing the challenges of falling prices, and slowing demand from Europe since Q4 2008. Nevertheless, the partial offset of falling input prices and the overall performance for the preceding three quarters has enabled us to meet our annual performance targets. The efforts of our staff have helped us operate soundly and safely through this difficult time with enthusiasm, confidence and relentless efforts.
As Chairman, I am delighted to witness the strong growth of the Company during 2008. Despite the turbulent market conditions that emerged from Q4 2008, the Company has established strong foundations to deal with the challenges ahead. I continue to be optimistic about the Company in 2009 and strongly believe that we will continue to move forward in accomplishing our goals.
I would like to take this opportunity to thank our directors, officers and staff for their passion in the solar business and their perseverance in achieving our objectives and solid results in 2008. At the same time, I would also like to thank all our investors for their continued support and trust in the Company.
Gabriel Kow
Chairman
24 April 2009
CHIEF EXECUTIVE'S REVIEW
2008 has been an extraordinary year for the team during which we achieved very satisfactory results despite turbulent market conditions. As a result of our production capacity expansion, our solar cell production capacity reached 100MW p.a. in mid-2008. The solar cell output for the year amounted to 65.3MW (2007: 35.2MW) and solar module output amounted to 43.3MW (2007: 8.2MW) with an average conversion efficiency of 17% (2007: 16.5%). Shipments of solar cells were 18.2MW (excluding processing income) and shipments of solar modules were 45.2MW. Sales revenue for the year reached US$250.9 million (2007: restated* US$104.0 million) and gross profit was US$40.8 million (2007: restated* US$15.2 million). Both the sales revenue and profitability of the Company have increased significantly when compared to 2007.
Strategy
According to an independent research report issued by Solarbuzz for 2009, the solar industry will continue to achieve very strong growth with solar energy applications gaining further recognition from numerous countries throughout the year. Capitalising on the opportunities arising from the fast growing solar industry, we aim to become one of the leading designers and manufacturers of solar system solutions in the world. We will continue to increase our product quality, enhance our vertical integration within the value chain and establish a comprehensive and effective global sales network. In addition, we will continue to provide high quality services to our customers whilst maintaining technology development to further develop our professional brand.
Operations
In 2008, the Company recorded significant improvements in the majority of its performance targets. In particular, we have made substantial progress as regards to our product mix, technology standards, product quality and inventory control.
Sales of solar modules increased from 22.6% of total sales in 2007 to 76.6% in 2008, which contributed to the overall increase in profit margins. The Company has transformed itself into a major manufacturer of solar modules having had market sales of predominately solar cells prior to 2008. As we have developed our sales channels, the Company further expanded its sales coverage from Germany and Spain to other European countries. In 2008, the revenue breakdown was between China (c. 24%), Germany (c. 56%), Spain (c. 16%), Italy (c. 2%) and other emerging markets (c. 2%). Through our expanding sales channels, we have widened our customer base and have established a sound relationship with a number of respected solar buyers, such as Sch?age Solar and Bayerische Solar.
In 2008, we substantially improved the conversion efficiency of our solar cells. Our average conversion efficiency rate reached 17% compared to the maximum conversion efficiency rate under mass production of 18%. This improvement is attributable to our continued emphasis on and efforts into R&D, process upgrades and technical excellence. Through consistent improvement, our technology team not only generated a significant increase in the conversion efficiency rate of monocrystalline solar cells, but it also fully mastered the technology of high efficiency polycrystalline solar cells and UMG solar cells. These technological advances have enabled us to offer a more diversified product mix to our customers and provided strong post-sales support and services for our customers.
After obtaining the European TUV accreditation in October 2007, we applied for the key (Underwriters Laboratories) UL product certification for the US and Canadian markets. The company was granted this accreditation in March 2009, providing validation that the Company's products are in compliance with the same strict international requirements on product quality and safety as our counterparts in Europe and the US and will provide the Company with significant leverage for entering into new markets such as the US and Canada. Concurrently, ongoing improvements in our product quality and efficiency also bore fruit with a yield of over 98% and a utilization rate of over 90%. We believe that the quality of our product compares favorably with our most advanced competitors worldwide.
Inventory control was also one of the key development areas in 2008. As a result of stringent inventory controls, the possible downside risk of falling raw material prices and product selling prices since Q4 2008 was controlled and managed effectively. The inventory of raw materials and finished products were kept at a minimum which avoided the uncertainties involving market price volatility. Despite the losses incurred as a result of the foreign exchange fluctuations in 2008, such losses were minimized due to the adjustment of product mix and customer base and appropriate foreign exchange hedging by the Company. As a result of our efforts, the Company maintained a sound net cash position of US$3.6 million (2007: US$9.4 million) at the year end. We fully understand the importance of maintaining sufficient cash under current unstable economic conditions.
The Company was granted the Fastest-Growing Company in Deloitte Technology Fast 50 China and the second prize in Deloitte Technology Fast 500 Asia Pacific 2008 in November and December 2008, respectively. These awards provide significant motivation and encouragement to the Company. We truly believe that our efforts will lead to an increase in shareholder value as we strive towards achieving our long-term goals.
Outlook
The falling raw material prices and product prices since Q4 2008 are a direct result of the global economic crisis. We believe that the decrease in solar product prices is favourable to gaining governments' confidence and support for solar power generation from which our end users will benefit. We are encouraged to see an increasing number of families across the globe using clean and more affordable solar energy. We aim to maintain our profitability amid price and currency fluctuations based on our market judgment and through establishing sound relationships with our suppliers and customers.
Looking ahead, the global economy is widely expected to shrink further due to the current crisis and there are still many uncertainties ahead of us. However, we remain confident that the solar industry will take a lead in recovering from the economic downturn. Since March 2009, the operating conditions of the Company have substantially returned to the same level as the corresponding period last year and we have had steady orders from our customers. Coupled with the increasing demand from the emerging markets, we will be confident that we are able to accomplish our targets in 2009.
Lijin Gai
Chief Executive Officer
24 April 2009
FINANCIAL REVIEW
Overview
Total group sales during the year, with the benefit of an additional 50MW of capacity, increased to US$250.9 million (2007: restated* US$104.0 million). This increase in turnover reflects an increase in cell production to 65.3MW (2007: 35.2MW) and an increase in conversion of cells to modules of 43.3MW (2007: 8.2MW) following the addition of two production lines in mid-2008.
Gross profit increased to US$40.8 million (2007: restated* US$15.2 million) and the gross margin was 16.3% (2007: restated* 14.6%). 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. However, the impact of the global distressed economy was felt during the fourth quarter of 2008 when gross margin for the last three months fell significantly to 9.6%. This fall was due to market price reductions, which, because of the time lags, was not counteracted by a fall in input prices until later.
Operating profit before share-based expense for the year rose to US$31.5 million (2007: restated* US$5.6 million) after taking into account provisions for inventory of US$1.2 million (2007: Nil) and provisions for prepayment to suppliers of US$1.8 million (2007: Nil). Adjusted EBITDA in 2008 (excluding foreign exchange losses) amounted to US$34.5 million (2007: restated* US$8.3 million).
Net finance costs were US$9.7 million (2007: US$0.1 million). This reflects the impact of substantial amounts of cash and cash equivalents denominated in Euros being pledged for bank debts and notes denominated in Renminbi for hedging purposes; the adverse effect of foreign exchange losses of US$7.8 million (2007: restated* US$0.06 million) due to exposure of sales in Euros and costs in Renminbi and U.S. dollars; and net fair value losses of leveraged foreign exchange contracts.
Income tax for 2008 was US$3.7 million (2007: Nil) with an effective tax rate for 2008 of 12.5% (2007: Nil). 2008 was the first year of tax being chargeable at the preferential rate of 12.5% (being a 50% reduction of the statutory tax rate of 25%) upon expiry of the tax-free holiday.
The profit attributable to the equity holders of the Company amounted to US$16.4 million (2007: restated* US$4.7 million). Basic and diluted earnings per share before the adjustment for share-based expenses amounted to US24.0 cents (2007: restated* US15.1 cents). Pro forma earnings per share, which best shows the trend in earnings per share, amounted to US24.0 cents (2007: restated* US9.2 cents).
Prior year adjustments
Following further consultation with its advisors, the Company has decided to change the accounting treatment of the reorganization which took place before the listing of its shares on AIM on 6 July 2007, from a merger accounting basis to an acquisition accounting basis. As a result of this change, there has been an upward revaluation of net assets, which has been dealt with as a prior year adjustment. Consequently, the depreciation and amortization charge has increased by around US$2.2 million for the current period. The comparative figures for 2007 have been restated to reflect this change.
Balance sheet & cash flow
At the year end, total equity was US$107.5 million (2007: restated* US$83.4 million). The Group had net cash of US$3.6 million at the year end (2007: US$9.4 million). The decrease in net cash in the year was due to the costs of expanding the production facilities.
Prepayments to suppliers for silicon raw materials amounted to US$34.3 million at 31 December 2008 (2007: restated* US$39.5 million). 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 26.3% (2007 restated* 8.0%).
The net cash inflow in the year from operating activities after interest and taxation payments was US$15.4 million (2007: restated* outflow of US$30.4 million). Net cash used in investing activities in 2008 was US$19.2 million (2007: restated* US$11.6 million) being principally the addition of 50MW of solar cell production capacity and fixed assets in construction relating to the planned production capacity.
Going concern
In accordance with the recommendations of the Combined Code, the Directors have considered the budgets, forecasts, cash flows and the outlook from the operating companies and consider that the Company and the Group have adequate financial resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing these financial statements.
Stephen Hon Cheung So
Chief Financial Officer
**2007 reporting results have been restated, please refer to below for the details of prior year adjustments.
CONSOLIDATED INCOME STATEMENT
for the year ended 31 December 2008
2008 2007
US$'000 US$'000
(restated)
Turnover 250,913 104,043
Cost of sales (210,111 ) (88,866 )
Gross profit 40,802 15,177
Other operating income 989 167
Distribution costs (1,646 ) (1,052 )
Administrative expenses (6,476 ) (7,312 )
Research and development (1,225 ) (2,395 )
expenses
Other operating expenses (2,391 ) -
Results from operating 30,053 4,585
activities
- - - - - - - - - - - - - - - - - - - - - - -
- - -
Interest income 358 905
Interest expense (2,259 ) (938 )
Net foreign exchange loss (7,323 ) (62 )
Net fair value losses of (454 ) -
leveraged foreign
exchange contracts
Net financing expenses (9,678 ) (95 )
- - - - - - - - - - - - - - - - - - - - - - -
- - -
Share of (losses)/profits of a (236 ) 207
jointly controlled entity
- - - - - - - - - - - - - - - - - - - - - - -
- - -
Profit before taxation 20,139 4,697
Income tax (3,717 ) -
Profit for the year 16,422 4,697
attributable to equity
shareholders of the Company
Earnings per share (US cents)
Basic and diluted earnings per 22.13 12.50
share
(2007: restated)
Pro forma earnings per share 24.03 9.18
(2007: restated)
CONSOLIDATED BALANCE SHEET
at 31 December 2008
2008 2007
US$'000 US$'000
(restated)
Non-current assets
Property, plant and equipment 43,247 19,078
Lease prepayments 2,768 3,221
Prepayments for acquisition of 855 5,911
property, plant and equipment
Intangible assets 3,042 4,687
Interest in a jointly 17 -
controlled entity
49,929 32,897
- - - - - - - - - - - - - - - - - - - - - - -
- - -
Current assets
Inventories 9,803 7,763
Trade and other receivables 56,576 48,167
Pledged bank deposits 27,144 1,452
Cash and cash equivalents 21,180 21,047
114,703 78,429
- - - - - - - - - - - - - - - - - - - - - - -
- - -
Current liabilities
Bank loans
- unsecured 14,097 6,936
- secured 30,601 6,151
Trade and other payables 6,503 11,441
Amount due to a shareholder 979 1,691
Current tax payable 2,773 -
54,953 26,219
- - - - - - - - - - - - - - - - - - - - - - -
- - -
Net current assets 59,750 52,210
- - - - - - - - - - - - - - - - - - - - - - -
- - -
Total assets less current 109,679 85,107
liabilities
- - - - - - - - - - - - - - - - - - - - - - -
- - -
CONSOLIDATED BALANCE SHEET (continued)
at 31 December 2008
2008 2007
US$'000 US$'000
(restated)
Non-current liabilities
Deferred tax liabilities 2,213 1,735
- - - - - - - - - - - - - - - - - - - - - - - - - -
Net assets 107,466 83,372
Capital and reserves
Share capital - -
Reserves 107,466 83,372
Total equity attributable to 107,466 83,372
equity
shareholders of the Company
CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY
for the year ended 31 December 2008
Share capital Share premium Capital reserve General reserve fund Treasury shares Exchange reserve Retained earnings Total equity
US$'000 US$'000 US$'000 US$'000 US$'000 US$'000 US$'000 US$'000
At 1 January 2007 4,947 - - - - 223 4,530 9,700
Prior year adjustments in
respect of:
- business combination (4,946 ) - - - - 118 9,005 4,177
- appropriation - - - 462 - - (462 ) -
As restated, after prior year 1 - - 462 - 341 13,073 13,877
adjustments
Shares issued 9 - - - - - - 9
Cancellation of ordinary (10 ) 10 - - - - - -
shares of $1 each
Shares issued upon exercise of - 5,000 - - - - - 5,000
convertible notes
Shares issued to employee - 3,395 - - (3,395 ) - - -
benefit trust
Shares issued by way of - 63,294 - - - - - 63,294
placement
Share issuing costs - (6,313 ) - - - - - (6,313 )
Equity-settled share based - (958 ) 958 - - - - -
transactions (restated)
Exchange differences on - - - - - 2,808 - 2,808
translation of the financial
statements of a subsidiary
(restated)
Profit for the year (restated) - - - - - - 4,697 4,697
Appropriation (restated) - - - 1,095 - - (1,095 ) -
At 31 December 2007 (restated) - 64,428 958 1,557 (3,395 ) 3,149 16,675 83,372
CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (continued)
for the year ended 31 December 2008
Share capital Share premium Capital reserve General reserve fund Treasury shares Exchange reserve Retained earnings Total equity
US$'000 US$'000 US$'000 US$'000 US$'000 US$'000 US$'000 US$'000
At 1 January 2008 - 65,386 - - (3,395 ) 3,230 12,426 77,647
Prior year adjustments in
respect of:
- business combination - - - - - 620 7,179 7,799
- appropriation - - - 1,557 - - (1,557 ) -
- elimination of unrealised - - - - - - (394 ) (394 )
*profits
- share warrants - (958 ) 958 - - - - -
- phantom share options - - - - - - (979 ) (979 )
- advance from a shareholder - - - - - (701 ) - (701 )
*of the Company
As restated, after prior year - 64,428 958 1,557 (3,395 ) 3,149 16,675 83,372
adjustments
Equity-settled share-based - (1,477 ) - - 3,395 - - 1,918
transactions
Exchange differences on
translation of the financial
statements of
- a subsidiary - - - - - 5,779 - 5,779
- a jointly-controlled entity - - - - - (25 ) - (25 )
Profit for the year - - - - - - 16,422 16,422
Appropriation - - - 2,330 - - (2,330 ) -
At 31 December 2008 - 62,951 958 3,887 - 8,903 30,767 107,466
CONSOLIDATED CASH FLOW STATEMENT
for the year ended 31 December 2008
2008 2007
US$'000 US$'000
Operating activities
Profit before taxation 20,139 4,697
Adjustments for:
- Depreciation and 4,289 2,750
amortisation
- Loss on disposal of lease 67 -
prepayments
- Loss on disposal of 27 -
property, plant and equipment
- Impairment loss on 347 -
intangible assets
- Impairment loss on 1,816 -
prepayments and other
receivables
- Interest expense 2,259 938
- Interest income from bank (358 ) (905 )
deposits
- Net fair value losses of 454 -
leveraged foreign exchange
contracts
- Share of (losses)/profits of 236 (207 )
a jointly controlled entity
- Unrealised gains from 5 394
transactions with a jointly
controlled entity
- Foreign exchange loss 118 1,172
Operating profit before 29,399 8,839
changes in working capital
Increase in inventories (1,517 ) (3,681 )
Increase in trade and other (5,963 ) (38,440 )
receivables
(Decrease)/increase in trade (5,890 ) 2,862
and other payables
Net cash generated from/(used 16,029 (30,420 )
in) operations
PRC Enterprise Income Tax paid (582 ) -
15,447 (30,420 )
- - - - - - - - - - - - - - - - - - - - - -
- - - -
Investing activities
Payment for the acquisition of (20,062 ) (12,503 )
property, plant and equipment
Proceeds from disposal of 534 -
lease prepayments
Interest received 358 905
Net cash used in investing (19,170 ) (11,598 )
activities
- - - - - - - - - - - - - - - - - - - - - -
- - - -
CONSOLIDATED CASH FLOW STATEMENT (continued)
for the year ended 31 December 2008
2008 2007
US$'000 US$'000
(restated)
Financing activities
Proceeds from issuing - 5,000
convertible notes
Uplift of pledged deposits 87,601 3,194
Placement of pledged deposits (113,195 ) (4,243 )
Proceeds from bank loans 90,870 27,163
Repayment of bank loans (60,140 ) (27,531 )
Proceeds from issue of shares - 63,304
Share issuing costs - (6,313 )
Repayment of amount due to a (438 ) -
shareholder
Interest paid (2,259 ) (938 )
Net cash generated from 2,439 59,636
financing activities
- - - - - - - - - - - - - - - - - - - - - - -
- - -
Net (decrease)/increase in (1,284 ) 17,618
cash and cash equivalents
Cash and cash equivalents at 21,047 2,570
the beginning of the year
Effect of foreign exchange 1,417 859
rate changes
Cash and cash equivalents at 21,180 21,047
the end of the year
GENERAL INFORMATION
Jetion Holdings Limited (''the Company'') was incorporated in the British Virgin Islands (''BVI'') under the BVI Business Companies Act, 2004 on 18 July 2006. The address of its registered office is 2nd floor, Abbott Building, Road Town, Tortola, British Virgin Islands and its principal place of business is at No. 1011, Zhencheng Road, Shengang Industrial District, Jiangyin 214443, The People's Republic of China. The Company's shares were listed on the Alternative Investment Market (''AIM'') operated by London Stock Exchange plc. on 6 July 2007.
The consolidated financial statements of the Company for the year ended 31 December 2008 comprise the Company and its subsidiaries (together referred to as the ''Group'') and the Group's interest in a jointly controlled entity.
BASIS OF PREPARATION
The financial statements are presented in United States Dollars (''USD''), rounded to the nearest thousand. They are prepared on the historical cost basis except that the following assets and liabilities are stated at their fair values:
- derivative financial instruments;
- compound financial instruments; and
- cash-settled share-based payment transactions.
The preparation of financial statements in conformity with IFRSs requires management to make judgements, estimates and assumptions that affect the application of policies and reported amounts of assets and liabilities, income and expenses. The estimates and associated assumptions are based on historical experience and various other factors that are believed to be reasonable under the circumstances, the results of which form the basis of making the judgements about carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
PRIOR YEAR ADJUSTMENTS
* The Group underwent a reorganisation before the listing of its shares on the AIM on 6 July 2007. In the prior year, the reorganisation was considered to be a business combination of entities under common control and, therefore, merger accounting was applied.
During the current year, management of the Group has revisited the substance of the reorganisation. Based on a legal opinion obtained from the Company's lawyers and all information available to date, management now considers that there was a change in equity ownership in a subsidiary, Jiangyin Jetion Science and Technology Company Limited (''Jiangyin Jetion''), during the reorganisation. Due to this change of equity ownership, the then shareholder of Jiangyin Jetion could no longer exercise the power to govern the financial and operating policies so as to obtain benefits from Jiangyin Jetion. All economic benefits relating to Jiangyin Jetion were attributable to the new shareholders. As such, in accordance with prevailing accounting standards, the change in ownership in Jiangyin Jetion should have been treated as an acquisition using purchase accounting. The change in the application of accounting policy has been applied retrospectively.
The acquisition had the following effect on the Group's assets and liabilities under purchase accounting in September 2006 (''the acquisition date''):
Pre- acquisition Fair value Recognised values on acquisition
carrying amount adjustment
US$'000 US$'000 US$'000
Property, plant and equipment 7,126 3,480 10,606
Lease prepayments 1,292 1,318 2,610
Intangible assets - 6,328 6,328
Inventories 8,378 397 8,775
Trade and other receivables 15,246 - 15,246
Cash and bank deposits 1,476 - 1,476
Bank loans (11,498 ) - (11,498 )
Trade and other payables (13,959 ) (13,959 )
Deferred tax liabilities - (1,623 ) (1,623 )
Net identifiable assets and 8,061 9,900 17,961
liabilities
Gain on acquisition 12,852
Consideration paid, satisfied 5,109
in cash
Less: Cash acquired (1,476 )
Net cash outflow 3,633
As a result of the change in the application of accounting policy, the Group's profit before taxation for the year ended 31 December 2008 decreased by US$2,193,000, with the corresponding amounts credited to fixed assets, lease prepayment, intangible assets and exchange reserves.
(b) In line with normal practice for PRC companies, Jiangyin Jetion had transferred 10% of its profits after taxation to the general reserve fund for the years ended 31 December 2006 and 2007 pursuant to a resolution passed by its board of directors. In prior years, no appropriation was recorded in the Company's consolidated financial statements.
As a result of this prior year adjustment, an amount of US$2,330,000 was transferred from retained earnings to general reserve fund for the year ended 31 December 2008.
(c) In the prior year, unrealised profits resulting from transactions between Jiangyin Jetion and the Group's jointly controlled entity were not eliminated to the extent of the Group's interest in the jointly controlled entity pursuant to IAS 31 ''Interests in Joint Ventures''. A prior year adjustment has been made to correct this.
As a result of this prior year adjustment, the Group's profit before taxation for the year ended 31 December 2008 has decreased by US$5,000, with the corresponding amount credited to interest in a jointly-controlled entity.
(d) As part of the consideration for the listing of its shares on the AIM, the Company granted certain share warrants to Collins Stewart Europe Limited (''Collins Stewart''), the nominated adviser and broker of the Company for its listing on the AIM, on 3 July 2007. Pursuant to the warrant agreement, Collins Stewart was granted the right to subscribe for the Company's shares at the placing price of 151 pence per ordinary share in an amount up to 1% in number of the issued shares of the Company. Such right may be exercised at any time during the period of three years following the admission of the Company's shares to trade on the AIM.
In accordance with prevailing accounting standards, these share warrants should have been accounted for as equity-settled transactions in accordance with IFRS 2 ''Share-based Payment''. In the prior year, the Company did not account for these share warrants in its consolidated financial
statements as there was no effect on either the profit for the year or shareholders' equity at 31 December 2007. In these financial statements, a prior year adjustment has been made to record the relevant amount in the appropriate reserves.
There is no effect on the income statement for the year ended 31 December 2008 as a result of this prior year adjustment.
(e) As disclosed in the Company's AIM admission document, a major shareholder of the Company has granted a call option to an employee benefit trust (''EBT'') to make available 4,796,211 ordinary shares to the EBT for the purpose of satisfying phantom share awards to be granted to certain employees of the Group and a former employee. The 4,796,211 ordinary shares made available by the major shareholder of the Company will be disposed of in the market by the EBT to fund payments under the scheme.
According to the scheme, the Company will make a cash payment to the grantees calculated as the difference between the market value of the Company's shares at the date of exercise and the exercise price of these phantom shares. The exercise of these phantom shares is subject to certain vesting and performance conditions.
On 6 December 2007, 4,720,000 phantom shares were granted to certain directors and employees of the Company at nil consideration with an exercise price of 151 pence per share.
In accordance with prevailing accounting standards, the above-mentioned phantom share arrangement should have been accounted for in accordance with IFRS 2 ''Share-based Payment'' and IAS 39 ''Financial Instruments: Recognition and Measurement''. In the prior year, the Company did not account for this arrangement in its consolidated financial statements and, accordingly, a prior year adjustment has been made to correct this.
As a result of this prior year adjustment, the Group's profit before taxation for the year ended 31 December 2008 increased by US$507,000 with the corresponding amount debited to reserves.
(f) In the prior year, the Company had wrongly credited advances from a shareholder of the Company to the exchange reserve. A prior year adjustment has been made to correct this error.
(g) Certain comparative figures have been reclassified to conform with the current year's presentation in order to better reflect the nature of the balances, as follows:
(i) value added tax recoverable of US$1,037,000 has been reclassified from tax refundable to trade and other receivables;
(ii) prepayments for acquisition of property, plant and equipment of US$5,911,000 have been reclassified from current assets to non-current assets;
(iii) pledged deposits of US$1,452,000 have been classified separately from cash and cash equivalents; and
(iv) research and development expenses of US$2,395,000 have been reclassified separately from distribution costs.
The adjustments for each line item in the consolidated income statement affected for the year ended 31 December 2007 and each line item in the consolidated balance sheet affected as at 31 December 2007 are set out below:
Consolidated income statement for the year ended 31 December 2007
2007 2007
(as previously (as restated)
reported)
US$'000 US$'000 US$'000 US$'000 US$'000 US$'000
(Note (a)) (Note (c)) (Note (e)) (Note (g))
Turnover 106,860 - (2,817 ) - - 104,043
Cost of sales (89,848 ) (1,151 ) 2,423 (290 ) - (88,866 )
Gross profit 17,012 (1,151 ) (394 ) (290 ) - 15,177
Other operating income 167 - - - - 167
Distribution costs (2,958 ) (460 ) - (29 ) 2,395 (1,052 )
Administrative expenses (6,437 ) (215 ) - (660 ) - (7,312 )
Research and development - - - - (2,395 ) (2,395 )
expenses
Results from operating 7,784 (1,826 ) (394 ) (979 ) - 4,585
activities
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
- -
Interest income 905 - - - - 905
Interest expense (938 ) - - - - (938 )
Net foreign exchange loss (62 ) - - - - (62 )
Net financing expenses (95 ) - - - - (95 )
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
- -
Share of profits of a jointly 207 - - - - 207
controlled entity
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
- -
Profit before taxation 7,896 (1,826 ) (394 ) (979 ) - 4,697
Income tax - - - - - -
Profit for the year 7,896 (1,826 ) (394 ) (979 ) - 4,697
attributable to equity
shareholders of the Company
Earnings per share
Basic and diluted earnings per 21.02 (4.86 ) (1.05 ) (2.61 ) - 12.50
share (US cents)
Consolidated balance sheet at 31 December 2007
2007 2007
(as (as restated)
previously reported)
US$'000 US$'000 US$'000 US$'000 US$'000 US$'000 US$'000
(Note (a)) (Note (c)) (Note (e)) (Note (f)) (Note (g))
Non-current assets
Property, plant and equipment 15,603 3,475 - - - - 19,078
Lease prepayments 1,849 1,372 - - - - 3,221
Prepayments for acquisition of - - - - - 5,911 5,911
property, plant and equipment
Intangible assets - 4,687 - - - - 4,687
Interest in a jointly 283 - (283 ) - - - -
controlled entity
17,735 9,534 (283 ) - - 5,911 32,897
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
Current assets
Inventories 7,763 - - - - - 7,763
Trade and other receivables 53,041 - - - - (4,874 ) 48,167
Tax refundable 1,037 - - - - (1,037 ) -
Pledged deposits - - - - - 1,452 1,452
Cash and cash equivalents 22,499 - - - - (1,452 ) 21,047
84,340 - - - - (5,911 ) 78,429
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
Current liabilities
Bank loans
- unsecured 6,936 - - - - - 6,936
- secured 6,151 - - - - - 6,151
Trade and other payables 10,351 - 111 979 - - 11,441
Amount due to a shareholder 990 - - - 701 - 1,691
24,428 - 111 979 701 - 26,219
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
Net current assets 59,912 - (111 ) (979 ) (701 ) (5,911 ) 52,210
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
Total assets less current 77,647 9,534 (394 ) (979 ) (701 ) - 85,107
liabilities
Non-current liabilities
Deferred tax liabilities - 1,735 - - - - 1,735
Total assets 77,647 7,799 (394 ) (979 ) (701 ) - 83,372
Capital and reserves
Share capital - - - - - - -
Reserves 77,647 7,799 (394 ) (979 ) (701 ) - 83,372
Total equity attributable to 77,647 7,799 (394 ) (979 ) (701 ) - 83,372
equity shareholders of the
Company
This information is provided by RNS
The company news service from the London Stock Exchange
END
FR PUURUCUPBGAW
07:19 BRIEF-Jetion FY pretax profit $20.1 mln vs $4.7 mln AFX UK Focus
LONDON, April 24 (Reuters) - Jetion Holdings Ltd:
FY SALES UP 141% TO US$250.9M
FY PRE TAX PROFIT UP 328% TO US$20.1M
GROSS MARGIN UP 11.6% TO 16.3%
CONTINUES TO BE OPTIMISTIC ABOUT ITS PROSPECTS IN 2009
((London Equities Newsroom; +44 20 7542 7717)) (For more news, please click here)
COPYRIGHT
Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
LONDON, April 24 (Reuters) - Jetion Holdings Ltd:
FY SALES UP 141% TO US$250.9M
FY PRE TAX PROFIT UP 328% TO US$20.1M
GROSS MARGIN UP 11.6% TO 16.3%
CONTINUES TO BE OPTIMISTIC ABOUT ITS PROSPECTS IN 2009
((London Equities Newsroom; +44 20 7542 7717)) (For more news, please click here)
COPYRIGHT
Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
Kann jemand genauere Angaben zu den Assets und Liabilities machen?
Wie gliedern sich diese genau auf?
Grundsätzlich sieht Jetion ja ganz gut aus! Wie seht ihr die weitere Entwicklung bei der Firma und im Kurs?
Wie gliedern sich diese genau auf?
Grundsätzlich sieht Jetion ja ganz gut aus! Wie seht ihr die weitere Entwicklung bei der Firma und im Kurs?
http://www.alibaba.com/member_site.html?url=http%3A%2F%2Fwww…
und hier auf Seite 5
http://www.jetion.com.cn/docs/aim/Preliminary%20results%20fo…
gruß
ralf
und hier auf Seite 5
http://www.jetion.com.cn/docs/aim/Preliminary%20results%20fo…
gruß
ralf
Das konnte ich selbst lesen. Ich hätte es nur gerne viel genauer.....
Antwort auf Beitrag Nr.: 37.068.775 von Vinyard am 30.04.09 06:09:10Ich auch.
Habe auch schon 2 mal ne Mail geschrieben, einmal an Investor Relation und einmal an den KOW, in English natürlich. Aber, keine Antwort.
Habe auch schon 2 mal ne Mail geschrieben, einmal an Investor Relation und einmal an den KOW, in English natürlich. Aber, keine Antwort.
Antwort auf Beitrag Nr.: 37.072.695 von ibmisout am 30.04.09 14:06:14
http://www.investorschampion.com/blog/entry/jetion-holdings-…
http://www.investorschampion.com/blog/entry/jetion-holdings-…
Wie groß sind denn nun die Cashreserven.
http://www.jetion.com.cn/docs/aim/Preliminary%20results%20fo…
21 million oder,
http://www.investorschampion.com/blog/entry/jetion-holdings-…
3,6 Mio, ganz unten im Text.
http://www.jetion.com.cn/docs/aim/Preliminary%20results%20fo…
21 million oder,
http://www.investorschampion.com/blog/entry/jetion-holdings-…
3,6 Mio, ganz unten im Text.
Antwort auf Beitrag Nr.: 37.085.601 von ibmisout am 03.05.09 18:19:50kann mir mal einer zu den cash reserven weiterhelfen. Haben die nun 3,6 oder 21 Mio ?
Antwort auf Beitrag Nr.: 37.146.874 von ibmisout am 11.05.09 18:35:38Hallo ibmisout!
Also, ganz genau ist es so.
Die Firma hat NET-CASH von 3,6mUSD - was heisst, die Summe der Bankguthaben abzüglich der Summe der Bankschulden.
En Detail:
Pledged bank deposits 27,144mUSD
+ Cash and cash equivalents 21,18mUSD
-------------------------------------
Summe 48,324 mUSD Brutto-Cash
-Bank loans unsecured 14,097mUSD
-Bank loans secured 30,601mUSD
-------------------------------------
3,626 mUSD Netto-Cash
Gruß
s.
Also, ganz genau ist es so.
Die Firma hat NET-CASH von 3,6mUSD - was heisst, die Summe der Bankguthaben abzüglich der Summe der Bankschulden.
En Detail:
Pledged bank deposits 27,144mUSD
+ Cash and cash equivalents 21,18mUSD
-------------------------------------
Summe 48,324 mUSD Brutto-Cash
-Bank loans unsecured 14,097mUSD
-Bank loans secured 30,601mUSD
-------------------------------------
3,626 mUSD Netto-Cash
Gruß
s.
Erstmal Danke,
was ist wenn ich das mit einer Firma wie HP vergleiche. Wer sieht da im Verhältniss besser aus.
http://finance.yahoo.com/q/bs?s=HPQ&annual
was ist wenn ich das mit einer Firma wie HP vergleiche. Wer sieht da im Verhältniss besser aus.
http://finance.yahoo.com/q/bs?s=HPQ&annual
Antwort auf Beitrag Nr.: 37.147.688 von ibmisout am 11.05.09 19:51:57Naja, von der Größe her sollte man sie eigentlich schonmal nicht vergleichen können.
Bei HP ist Bankguthaben und kurzfristige Schulden nahezu ausgeglichen. Das wäre +-0.
Allerdings gibt es noch 7,6 Mrd. langfristige Schulden. Was eigentlich bedeutet Net-Debt von 7,6 Mrd.USD.
Wobei langfristige Schulden für ein Unternehmen nicht so kritisch sind, wie kurzfristige. Da die ja innerhalb relativ kurzer Zeit getilgt oder umfinanziert werden müssen sind die in aktueller Zeit für ein Unternehmen viel riskanter.
s.
Bei HP ist Bankguthaben und kurzfristige Schulden nahezu ausgeglichen. Das wäre +-0.
Allerdings gibt es noch 7,6 Mrd. langfristige Schulden. Was eigentlich bedeutet Net-Debt von 7,6 Mrd.USD.
Wobei langfristige Schulden für ein Unternehmen nicht so kritisch sind, wie kurzfristige. Da die ja innerhalb relativ kurzer Zeit getilgt oder umfinanziert werden müssen sind die in aktueller Zeit für ein Unternehmen viel riskanter.
s.
Ja, aber
Jetion hat nur kurzfristige Schulden welche bei sinkenden Zinssätzen eher vorteilhaft sein sollte. Habe da ne interessante Seite gefunden, aber leider wird da scheinbar mit alten Kursdaten gearbeitet. Schau Dir da mal Jetion an:
http://www.londonstockexchange.com/en-gb/pricesnews/investor…
Jetion hat nur kurzfristige Schulden welche bei sinkenden Zinssätzen eher vorteilhaft sein sollte. Habe da ne interessante Seite gefunden, aber leider wird da scheinbar mit alten Kursdaten gearbeitet. Schau Dir da mal Jetion an:
http://www.londonstockexchange.com/en-gb/pricesnews/investor…
18.05.2009 08:35
BRIEF-Jetion names Eric Chan CFO
LONDON, May 18 (Reuters) - Jetion Holdings Ltd: (News)
* Appointment of Eric Chan as executive director and chief financial officer
BRIEF-Jetion names Eric Chan CFO
LONDON, May 18 (Reuters) - Jetion Holdings Ltd: (News)
* Appointment of Eric Chan as executive director and chief financial officer
Was bedeutet das ?
That the Directors be and are hereby generally and unconditionally authorised to exercise all the powers of the Company to allot
Relevant Securities (within the meaning of Article 2.2 of the articles of association of the Company) up to a maximum aggregate
number which is equal to twenty per cent (rounded down to the nearest whole share) of the aggregate number of ordinary shares
of no par value in issue, such authority to expire at the conclusion of the next Annual General Meeting of the Company or, if
earlier, fi fteen (15) months from the passing of this resolution, unless previously revoked or varied by the Company in general
meeting, save that the Company may, before such expiry, make an offer or agreement which would or might require Relevant
Securities to be allotted after such expiry and the Directors may allot Relevant Securities pursuant to such an offer or agreement as
if the authority conferred hereby had not expired.
To consider, and if thought fi t, pass the following Special Resolutions:
8. That the Directors be and are hereby empowered pursuant to the authority conferred by resolution 5 above to allot Relevant
Securities for cash, provided that such power is limited to:
(a) the allotment of Relevant Securities in connection with a rights issue or open offer in favour of ordinary shareholders where
the Relevant Securities respectively attributable to their interests are proportionate (as nearly as may be) to the respective
numbers of shares held by them, subject to such exclusions or other arrangements as the Directors may deem necessary or
expedient in relation to fractional entitlements or legal or practical problems under the laws of, or the requirements of any
regulatory body in, any territory; and/or
That the Directors be and are hereby generally and unconditionally authorised to exercise all the powers of the Company to allot
Relevant Securities (within the meaning of Article 2.2 of the articles of association of the Company) up to a maximum aggregate
number which is equal to twenty per cent (rounded down to the nearest whole share) of the aggregate number of ordinary shares
of no par value in issue, such authority to expire at the conclusion of the next Annual General Meeting of the Company or, if
earlier, fi fteen (15) months from the passing of this resolution, unless previously revoked or varied by the Company in general
meeting, save that the Company may, before such expiry, make an offer or agreement which would or might require Relevant
Securities to be allotted after such expiry and the Directors may allot Relevant Securities pursuant to such an offer or agreement as
if the authority conferred hereby had not expired.
To consider, and if thought fi t, pass the following Special Resolutions:
8. That the Directors be and are hereby empowered pursuant to the authority conferred by resolution 5 above to allot Relevant
Securities for cash, provided that such power is limited to:
(a) the allotment of Relevant Securities in connection with a rights issue or open offer in favour of ordinary shareholders where
the Relevant Securities respectively attributable to their interests are proportionate (as nearly as may be) to the respective
numbers of shares held by them, subject to such exclusions or other arrangements as the Directors may deem necessary or
expedient in relation to fractional entitlements or legal or practical problems under the laws of, or the requirements of any
regulatory body in, any territory; and/or
Soll ich mich jetzt freuen das ich meine noch habe, oder ärgern das ich es zum dritten oder vierten Male nicht gepackt habe rechtzeitig nachzukaufen.
Böses Ding! Ich hatte vor Tagen gerade noch in einem anderen Thread geschrieben, das Jetion bisher nie enttäuscht hat. Und jetzt das.
Offensichtlich Spionage-Affaire plus Gewinnwarnung.
http://moneyextra.uk-wire.com/cgi-bin/articles/2009061707241…
Aktie im Moment im freien Fall.
MfG.
s.
Offensichtlich Spionage-Affaire plus Gewinnwarnung.
http://moneyextra.uk-wire.com/cgi-bin/articles/2009061707241…
Aktie im Moment im freien Fall.
MfG.
s.
>>Sales volumes are substantially ahead of last year but unit sales prices are some 40% down on the previous year and, although this is offset to some extent by reductions in input costs, the Board now believes profit for the year will be below its previously held expectations. <<
Wie hoch sind denn die Erwartungen gewesen, konnte nie eine Zahl dazu lesen ?
Wie hoch sind denn die Erwartungen gewesen, konnte nie eine Zahl dazu lesen ?
Antwort auf Beitrag Nr.: 37.408.028 von ibmisout am 17.06.09 09:34:10Ich denke, dass sind firmeninterne Prognosen.
Nach aussen kommuniziert wurden immer allgemein gehaltene Erwartungen.
Wobei man ihnen schon zum Vorwurf machen muss, dass sie im Trading Statement vor 2 Monaten noch geschrieben haben, es hätte sich in letzter Zeit substanziell verbessert und sie wären annähernd auf Vorjahreslevel.
Ähnlich lief es übrigens auch bei PV Crystalox. Die hatten Top-Zahlen geliefert und kurz danach kam eine saftige Gewinnwarnung. Anscheinend muss sich so im Mai die Lage kurzfristig nochmal verschlechtert haben. Momentan ist es aber ziemlich unübersichtlich, da andere nun schon wieder deutliche Steigerungen gegen Q1 melden.
Fakt ist zumindest die Preiserosion quer durch die ganze Wertschöpfungskette. Ich hatte vor Tagen gerade neue Zahlen gesehen, anlässlich der Intersolar.
MfG.
s.
Nach aussen kommuniziert wurden immer allgemein gehaltene Erwartungen.
Wobei man ihnen schon zum Vorwurf machen muss, dass sie im Trading Statement vor 2 Monaten noch geschrieben haben, es hätte sich in letzter Zeit substanziell verbessert und sie wären annähernd auf Vorjahreslevel.
Ähnlich lief es übrigens auch bei PV Crystalox. Die hatten Top-Zahlen geliefert und kurz danach kam eine saftige Gewinnwarnung. Anscheinend muss sich so im Mai die Lage kurzfristig nochmal verschlechtert haben. Momentan ist es aber ziemlich unübersichtlich, da andere nun schon wieder deutliche Steigerungen gegen Q1 melden.
Fakt ist zumindest die Preiserosion quer durch die ganze Wertschöpfungskette. Ich hatte vor Tagen gerade neue Zahlen gesehen, anlässlich der Intersolar.
MfG.
s.
habe 2 mal versucht heute zu kaufen , jeweils über den Brief Kurs, keine bekommen. Ist doch blöd.
Den Collins habe ich bzgl. der Erwarteten Gewinne angerufen, konnte er mir nicht sagen. Wird nur an institutionelle oder research Firmen gegeben.
Allerdings sieht er auch schwachstellen bei der IR und hofft auf Roadshows.
Den Collins habe ich bzgl. der Erwarteten Gewinne angerufen, konnte er mir nicht sagen. Wird nur an institutionelle oder research Firmen gegeben.
Allerdings sieht er auch schwachstellen bei der IR und hofft auf Roadshows.
Jetion jettisons four of its top staff
18 June 2009 | By Rebecca Butcher | Going Places
Jetion Holdings, a solar-cell manufacturer, dismissed its chief executive and three senior managers for alleged “breaches of their service contracts and fiduciary duties”. The board dismissed the four staff on the grounds that they are operators and shareholders of a solar module producer and exporter that competes with Jetion. Roger Lijin Gai, former Jetion chief executive, had failed to disclose his wife was “a shareholder in the competing business”. Public records support the former report and reveal that the three managers have close relatives who are shareholders in the rival business.
Investigations into the circumstances continue, though the company decided that the decisive dismissal was best and may take further legal action. So far, it does not appear that the activities of the four have an impact on the finances and business operations of Jetion.
Non-executive Chairman, Gabriel Kow will serve as Interim CEO and Jetion is working to fill the roles of the dismissed managers.
18 June 2009 | By Rebecca Butcher | Going Places
Jetion Holdings, a solar-cell manufacturer, dismissed its chief executive and three senior managers for alleged “breaches of their service contracts and fiduciary duties”. The board dismissed the four staff on the grounds that they are operators and shareholders of a solar module producer and exporter that competes with Jetion. Roger Lijin Gai, former Jetion chief executive, had failed to disclose his wife was “a shareholder in the competing business”. Public records support the former report and reveal that the three managers have close relatives who are shareholders in the rival business.
Investigations into the circumstances continue, though the company decided that the decisive dismissal was best and may take further legal action. So far, it does not appear that the activities of the four have an impact on the finances and business operations of Jetion.
Non-executive Chairman, Gabriel Kow will serve as Interim CEO and Jetion is working to fill the roles of the dismissed managers.
Ich glaube wir Deutschen Aktionäre sind doch ne Ecke cooler als die Inselaffen, oder was meint Ihr ?
Was da die letzten Tage verkauft wurde unglaublich.
Was da die letzten Tage verkauft wurde unglaublich.
RNS Number : 5931V
Jetion Holdings Limited
14 July 2009
For Immediate Release 14 July 2009
Jetion Solar Holdings Limited
('Jetion' or 'the Company')
Change of Company Name
Jetion Solar Holdings Limited (AIM:JHL), the manufacturer of high-performance solar cells and modules, is pleased to announce that the Registrar of Corporate Affairs (British Virgin Islands) has now issued the certificate approving the change of the Company's English name from 'Jetion Holdings Limited' to 'Jetion Solar Holdings Ltd' and its Chinese name from '浚鑫控股有限公司' to '浚鑫太阳能控股有限公司', following the resolution passed at the AGM on 18 June 2009. The Company's ticker code will remain unchanged.
Gabriel Kow +44 (0) 78 1056 8788
Non-executive Chairman and Interim CEO,
Jetion Solar Holdings Limited
Raymond Wong +86 (0) 138 0121 8313 /
General Counsel, Jetion Solar Holdings Limited +44 (0) 78 3414 6777
Tim Worlledge, Robert Collins +44 (0) 20 7071 4300
Evolution Securities Limited
Mark Edwards, Ben Willey, Christian Goodbody +44 (0) 20 7466 5000
Buchanan Communications
Jetion Holdings Limited
14 July 2009
For Immediate Release 14 July 2009
Jetion Solar Holdings Limited
('Jetion' or 'the Company')
Change of Company Name
Jetion Solar Holdings Limited (AIM:JHL), the manufacturer of high-performance solar cells and modules, is pleased to announce that the Registrar of Corporate Affairs (British Virgin Islands) has now issued the certificate approving the change of the Company's English name from 'Jetion Holdings Limited' to 'Jetion Solar Holdings Ltd' and its Chinese name from '浚鑫控股有限公司' to '浚鑫太阳能控股有限公司', following the resolution passed at the AGM on 18 June 2009. The Company's ticker code will remain unchanged.
Gabriel Kow +44 (0) 78 1056 8788
Non-executive Chairman and Interim CEO,
Jetion Solar Holdings Limited
Raymond Wong +86 (0) 138 0121 8313 /
General Counsel, Jetion Solar Holdings Limited +44 (0) 78 3414 6777
Tim Worlledge, Robert Collins +44 (0) 20 7071 4300
Evolution Securities Limited
Mark Edwards, Ben Willey, Christian Goodbody +44 (0) 20 7466 5000
Buchanan Communications
Follow the sun to China
Jul 13, 2009
By Geoff Nairn
solar-power.jpgThe global solar energy industry is currently going through turbulent times due to overcapacity and the credit crunch.
But economic stimulus packages in China and elsewhere in Asia will help lead the industry out of the trough and they will create new waves of demand for solar energy far remove from traditional markets in US and Europe.
Frost & Sullivan analyst Suchitra Sriram, who covers energy systems in the Asiapac region, believes these economic packages have strong potential to turn around the solar power industry in the short to medium term. He says:
In China, the $440bn stimulus package has put solar power as one of the key green energy resources to be developed in the near future. A number of solar power projects are already under construction throughout the country. The upcoming solar power installations have the potential to surpass the original 2020 target of 1.8GW by up to 10 times, reaching between 10GW and 20GW over the next 10 years.
Compared with China's projected wind power capacity of 100GW for 2020 -- see this story -- its ambitions in solar energy are relatively modest. But this this represent a big bet on solar power and it is likely to have big repercussions on the global solar power industry.
That is because until now, most solar panel manufacturing facilities have been set up to satiate the thirst of major markets in Europe and the US.
By increasing the proportion of domestic market sales in Asia, many multinational solar power companies with manufacturing plants in the region can effectively deal with the production overcapacity problem faced in the US and Europe.
The combination of strong domestic market demand, low-cost manufacturing plants and predicted industry consolidation creates a "plethora of growth opportunities" for solar power companies in Asia, Frost & Sullivan argues.
Jul 13, 2009
By Geoff Nairn
solar-power.jpgThe global solar energy industry is currently going through turbulent times due to overcapacity and the credit crunch.
But economic stimulus packages in China and elsewhere in Asia will help lead the industry out of the trough and they will create new waves of demand for solar energy far remove from traditional markets in US and Europe.
Frost & Sullivan analyst Suchitra Sriram, who covers energy systems in the Asiapac region, believes these economic packages have strong potential to turn around the solar power industry in the short to medium term. He says:
In China, the $440bn stimulus package has put solar power as one of the key green energy resources to be developed in the near future. A number of solar power projects are already under construction throughout the country. The upcoming solar power installations have the potential to surpass the original 2020 target of 1.8GW by up to 10 times, reaching between 10GW and 20GW over the next 10 years.
Compared with China's projected wind power capacity of 100GW for 2020 -- see this story -- its ambitions in solar energy are relatively modest. But this this represent a big bet on solar power and it is likely to have big repercussions on the global solar power industry.
That is because until now, most solar panel manufacturing facilities have been set up to satiate the thirst of major markets in Europe and the US.
By increasing the proportion of domestic market sales in Asia, many multinational solar power companies with manufacturing plants in the region can effectively deal with the production overcapacity problem faced in the US and Europe.
The combination of strong domestic market demand, low-cost manufacturing plants and predicted industry consolidation creates a "plethora of growth opportunities" for solar power companies in Asia, Frost & Sullivan argues.
RNS Number : 8217W
Jetion Solar Holdings Limited
04 August 2009
For Immediate Release 04 August 2009
Jetion Solar Holdings Limited
('Jetion' or the 'Company')
Management Update
On 17 June 2009, Jetion Solar Holdings Limited (AIM: JHL) announced that Roger Lijin Gai, ex-CEO, together with three ex-senior managers of the Chinese trading subsidiary (together as the 'Ex-employees'), had been dismissed for breaches of their service contracts and fiduciary duties.
The legal proceedings associated with this action have been progressing as expected. However, the Company is keen to move forward and wholly focus its efforts on achieving its business targets and objectives for this year and the future. It has therefore agreed a settlement of action with the Ex-employees. The Board of Directors of the Company is satisfied with the results of this settlement and believes that such resolution was reached in the best interests of the Company as a whole.
The new senior management team appointed following the departure of the Ex-employees is performing well. A full update will be provided as part of the interim results announcement to be released in September 2009. The Company has now set up an Executive Committee comprising Gabriel Kow, Chairman and Interim CEO, Wenyan Xu, Executive Director and Chief Operating Officer, Eric Chan, Executive Director and Chief Financial Officer, and Raymond Wong, Executive Director, General Counsel and Company Secretary to manage the day-to-day operations and to devise the long term strategy of the Company. We will further set out details of our long term strategy in our interim results announcement.
For further Information, please contact:
Gabriel Kow +44 (0) 78 1056 8788 or
Chairman and Interim CEO +86 136 0616 1871
Jetion Solar Holdings Limited
Tim Worlledge, Robert Collins +44 (0) 207 071 4300
Evolution Securities Limited
Mark Edwards, Ben Willey, Christian Goodbody +44 (0) 20 7466 5000
Buchanan Communications
Jetion Solar Holdings Limited
04 August 2009
For Immediate Release 04 August 2009
Jetion Solar Holdings Limited
('Jetion' or the 'Company')
Management Update
On 17 June 2009, Jetion Solar Holdings Limited (AIM: JHL) announced that Roger Lijin Gai, ex-CEO, together with three ex-senior managers of the Chinese trading subsidiary (together as the 'Ex-employees'), had been dismissed for breaches of their service contracts and fiduciary duties.
The legal proceedings associated with this action have been progressing as expected. However, the Company is keen to move forward and wholly focus its efforts on achieving its business targets and objectives for this year and the future. It has therefore agreed a settlement of action with the Ex-employees. The Board of Directors of the Company is satisfied with the results of this settlement and believes that such resolution was reached in the best interests of the Company as a whole.
The new senior management team appointed following the departure of the Ex-employees is performing well. A full update will be provided as part of the interim results announcement to be released in September 2009. The Company has now set up an Executive Committee comprising Gabriel Kow, Chairman and Interim CEO, Wenyan Xu, Executive Director and Chief Operating Officer, Eric Chan, Executive Director and Chief Financial Officer, and Raymond Wong, Executive Director, General Counsel and Company Secretary to manage the day-to-day operations and to devise the long term strategy of the Company. We will further set out details of our long term strategy in our interim results announcement.
For further Information, please contact:
Gabriel Kow +44 (0) 78 1056 8788 or
Chairman and Interim CEO +86 136 0616 1871
Jetion Solar Holdings Limited
Tim Worlledge, Robert Collins +44 (0) 207 071 4300
Evolution Securities Limited
Mark Edwards, Ben Willey, Christian Goodbody +44 (0) 20 7466 5000
Buchanan Communications
Hi,
dürfte ja spannend werden die nächsten Tage. Ich hoffe das die ganzen Anleger mit schwachen Nerven jetzt raus sind. Der Kurs ist ja jetzt stabil. Die Aktie hat mit relativ geringen Umsätze den enttäuschenden Stand erreicht. Ich werde die nächsten Tage mal den Kow anrufen und ihm ein paar blöde Fragen stellen, wenn Ihr noch was auf dem Herzen habt, dann schreibts hier rein oder Board Mail.
Gruß und Kopf hoch
Ralf
dürfte ja spannend werden die nächsten Tage. Ich hoffe das die ganzen Anleger mit schwachen Nerven jetzt raus sind. Der Kurs ist ja jetzt stabil. Die Aktie hat mit relativ geringen Umsätze den enttäuschenden Stand erreicht. Ich werde die nächsten Tage mal den Kow anrufen und ihm ein paar blöde Fragen stellen, wenn Ihr noch was auf dem Herzen habt, dann schreibts hier rein oder Board Mail.
Gruß und Kopf hoch
Ralf
Antwort auf Beitrag Nr.: 31.373.835 von meinolf67 am 03.09.07 14:28:40habe heute alle meine Aktien verkauft, mein Aktien von HP mit fast 150% Gewinnn
Jetzt habe ich nur noch Jetion im Depot. Was soll ich damit machen sehe nur Verkäufe, einen zu dicken Spread, kein Volumen.
Weg mit den Dingern ?
Wenn man die Mitbewerber betrachtet muß man leider sagen das alle nach Veröffentlichung ihrer Quartalszahlen kräftige Abschläge kassieren mußten. Werden wir in den nächsten Tagen hier den GAU sehen. Diese Betrugsgeschichte mit dem EX Vorstand ist auch im Sand versickert.
Gibts noch einen Grund Jetion zu halten ?
Jetzt habe ich nur noch Jetion im Depot. Was soll ich damit machen sehe nur Verkäufe, einen zu dicken Spread, kein Volumen.
Weg mit den Dingern ?
Wenn man die Mitbewerber betrachtet muß man leider sagen das alle nach Veröffentlichung ihrer Quartalszahlen kräftige Abschläge kassieren mußten. Werden wir in den nächsten Tagen hier den GAU sehen. Diese Betrugsgeschichte mit dem EX Vorstand ist auch im Sand versickert.
Gibts noch einen Grund Jetion zu halten ?
Heute 10:00
http://www.iii.co.uk/investment/detail?code=cotn:JHL.L&displ…
Bin ja mal gespannt. Meine Hoffnung größer 80 Mio fürs erste Halbjahr, gerade eben positives Ergebniß, und ein posites Outlook fürs Q3 bzw 2. Halbjahr.
http://www.iii.co.uk/investment/detail?code=cotn:JHL.L&displ…
Bin ja mal gespannt. Meine Hoffnung größer 80 Mio fürs erste Halbjahr, gerade eben positives Ergebniß, und ein posites Outlook fürs Q3 bzw 2. Halbjahr.
Gestern war Analysten Conference. Der blöde Kleinaktionär wird aber erst am 29.9 das 1 Halbjahr Ergebniss bekommen. Sauerei.
Meine Prognose für morgen Abend : 80 Cent.
Wer unter einen Euro verkauft ist selber Schuld. Ist schon komisch,
das sich kaum einer für Jetion interessiert.
Ihr dürft mich Dummschwätzer nennen wenn ich mich täusche !
Wer unter einen Euro verkauft ist selber Schuld. Ist schon komisch,
das sich kaum einer für Jetion interessiert.
Ihr dürft mich Dummschwätzer nennen wenn ich mich täusche !
Danke für Eure Rücksicht, keiner hat mich Dummschwätzer genannt.
Danke !
Aber wahrscheinlich liegts daran das sich keiner für Jetion interessiert. Eigentlich unglaublich, wenn man Jetion mit anderen
Solaraktien vergleicht. Werde aber weiter investiert bleiben und bei Schwäche nachkaufen.
Danke !
Aber wahrscheinlich liegts daran das sich keiner für Jetion interessiert. Eigentlich unglaublich, wenn man Jetion mit anderen
Solaraktien vergleicht. Werde aber weiter investiert bleiben und bei Schwäche nachkaufen.
Jetion Solar Holdings Sees FY09 Profit Significantly Higher Than Current Market Forecasts; Shares Up - Update
1/5/2010 4:58 AM ET
Jetion Solar Holdings Says FY09 Net Profit To Be Ahead Of Current Market Forecasts - Quick Facts
Jetion Solar Holdings Appoints Alina Xu As CEO - Quick Facts
(RTTNews) - Solar cells and modules maker, Jetion Solar Holdings Ltd. (JHL.L: News ) said Tuesday, in its trading update, that its net profit would be significantly higher than current market forecast of US$11.7 million, for fiscal 2009. Shares are trading up 24%, on the London Stock Exchange, post announcement.
The group attributed the improvement in profitability to four key factors - growing customer base that led to faster than anticipated sales growth; reduced production costs, thanks to improved operating efficiency; continued softness in the price of silicon wafers, as well as on-going improvement in the optimisation of supply chain.
Jetion Solar Holdings, formerly Jetion Holdings Ltd., is a fast growing manufacturer of high quality solar cells and modules which convert sunlight directly into electricity. Its principal place of business is Jiangsu Province in the People's Republic of China.
Since inception in December 2004, the group reached cell manufacturing capacity of 100 megawatts, and a module capacity of 60 megawatts, in December 2008. The Company operates in two segments: cells, which is engaged in manufacture and sale of solar cells and provision of related processing services, and modules, which is engaged in manufacture and sale of solar modules and provision of related processing services.
"It is very pleasing to see the marked upturn in profitability and we are hopeful this will continue into Q1 this year. The strong finish to 2009 is testimony to Alina Xu's appointment as CEO and her inspiration to the senior management team," noted Gabriel Kow, chairman of Jetion Solar Holdings.
For fiscal 2008, the group witnessed four-fold increase in its full-year pre-tax profit of US$20.13 million on 141% sales growth of US$250.91 million, contributed by higher cell production and conversion of cells to modules. However, during the first half of fiscal 2009, the group's pre-tax profit tumbled to US$3.17 million from US$12.12 million, as booked sales almost halved to US$55.93 million from US$100.65 million, owing to lower selling price.
JHL.L is currently trading at 70.729 pence, up 13.78 pence or 24.41%, on the LSE.
1/5/2010 4:58 AM ET
Jetion Solar Holdings Says FY09 Net Profit To Be Ahead Of Current Market Forecasts - Quick Facts
Jetion Solar Holdings Appoints Alina Xu As CEO - Quick Facts
(RTTNews) - Solar cells and modules maker, Jetion Solar Holdings Ltd. (JHL.L: News ) said Tuesday, in its trading update, that its net profit would be significantly higher than current market forecast of US$11.7 million, for fiscal 2009. Shares are trading up 24%, on the London Stock Exchange, post announcement.
The group attributed the improvement in profitability to four key factors - growing customer base that led to faster than anticipated sales growth; reduced production costs, thanks to improved operating efficiency; continued softness in the price of silicon wafers, as well as on-going improvement in the optimisation of supply chain.
Jetion Solar Holdings, formerly Jetion Holdings Ltd., is a fast growing manufacturer of high quality solar cells and modules which convert sunlight directly into electricity. Its principal place of business is Jiangsu Province in the People's Republic of China.
Since inception in December 2004, the group reached cell manufacturing capacity of 100 megawatts, and a module capacity of 60 megawatts, in December 2008. The Company operates in two segments: cells, which is engaged in manufacture and sale of solar cells and provision of related processing services, and modules, which is engaged in manufacture and sale of solar modules and provision of related processing services.
"It is very pleasing to see the marked upturn in profitability and we are hopeful this will continue into Q1 this year. The strong finish to 2009 is testimony to Alina Xu's appointment as CEO and her inspiration to the senior management team," noted Gabriel Kow, chairman of Jetion Solar Holdings.
For fiscal 2008, the group witnessed four-fold increase in its full-year pre-tax profit of US$20.13 million on 141% sales growth of US$250.91 million, contributed by higher cell production and conversion of cells to modules. However, during the first half of fiscal 2009, the group's pre-tax profit tumbled to US$3.17 million from US$12.12 million, as booked sales almost halved to US$55.93 million from US$100.65 million, owing to lower selling price.
JHL.L is currently trading at 70.729 pence, up 13.78 pence or 24.41%, on the LSE.
RNS Number : 5728F Jetion Solar Holdings Limited 14 January 2010
For Immediate Release 14 January 2010
Jetion Solar Holdings Limited
("Jetion" or "the Company")
Change of Company Website Address
Jetion Solar Holdings Limited (AIM:JHL), the manufacturer of high-performance solar cells and modules, announces that the Company website address has been changed from www.jetion.com.cn to www.jetionsolar.com with immediate effect.
Jetion Solar Holdings Limited
Gabriel Kow +44 (0) 78 1056 8788
Eric Chan +86 (0) 510 8668 7325
Raymond Wong +86 (0) 510 8668 7372
+44 (0) 78 3414 6777
Evolution Securities Limited +44 (0) 20 7071 4300
Tim Redfern - Nominated Broker Rob Collins, Esther Lee - Nominated Adviser
Buchanan Communications +44 (0) 20 7466 5000
Mark Edwards Ben Willey Christian Goodbody
This information is provided by RNS The company news service from the London Stock Exchange
For Immediate Release 14 January 2010
Jetion Solar Holdings Limited
("Jetion" or "the Company")
Change of Company Website Address
Jetion Solar Holdings Limited (AIM:JHL), the manufacturer of high-performance solar cells and modules, announces that the Company website address has been changed from www.jetion.com.cn to www.jetionsolar.com with immediate effect.
Jetion Solar Holdings Limited
Gabriel Kow +44 (0) 78 1056 8788
Eric Chan +86 (0) 510 8668 7325
Raymond Wong +86 (0) 510 8668 7372
+44 (0) 78 3414 6777
Evolution Securities Limited +44 (0) 20 7071 4300
Tim Redfern - Nominated Broker Rob Collins, Esther Lee - Nominated Adviser
Buchanan Communications +44 (0) 20 7466 5000
Mark Edwards Ben Willey Christian Goodbody
This information is provided by RNS The company news service from the London Stock Exchange
Jetion Solar kaufen
26.01.2010
Emerging Markets Investor
Endingen (aktiencheck.de AG) - Die Experten von "Emerging Markets Investor" raten zum Kauf der Jetion Solar-Aktie (ISIN VGG5113P1009 / WKN A0MWQ8).
Das Solarunternehmen aus China sei in den letzten Jahren sehr dynamisch gewachsen. Habe es in 2005 noch einen Umsatz von 0,3 Mio. USD generiert, sei es in 2008 bereits eine Viertel Milliarde USD gewesen. Zwar sei auch Jetion Solar in 2009 von der Krise nicht verschont geblieben, jedoch habe die Firma die Krise relativ gut überstanden. So sei ein Nettogewinn von 14 Mio. USD erwirtschaftet worden, nach 16,4 Mio. USD in 2008.
Die Analysten von Westhouse würden für 2010 schon wieder einen Gwinnanstieg auf 21,4 Mio. USD und für 2011 auf 25,5 Mio. USD prognostizieren. Auf Basis dieser Schätzungen würde das KGV von 4 auf 3,3 sinken. Dies wäre sehr günstig, denn die Konkurrenz werde im Schnitt fast fünfmal höher bewertet.
Die Experten von "Emerging Markets Investor" empfehlen, die Jetion Solar-Aktie zu kaufen. (Ausgabe 02 vom 25.01.2010)
(26.01.2010/ac/a/a)
Offenlegung von möglichen Interessenskonflikten:
Mögliche Interessenskonflikte können Sie auf der Site des Erstellers/ der Quelle der Analyse einsehen.
26.01.2010
Emerging Markets Investor
Endingen (aktiencheck.de AG) - Die Experten von "Emerging Markets Investor" raten zum Kauf der Jetion Solar-Aktie (ISIN VGG5113P1009 / WKN A0MWQ8).
Das Solarunternehmen aus China sei in den letzten Jahren sehr dynamisch gewachsen. Habe es in 2005 noch einen Umsatz von 0,3 Mio. USD generiert, sei es in 2008 bereits eine Viertel Milliarde USD gewesen. Zwar sei auch Jetion Solar in 2009 von der Krise nicht verschont geblieben, jedoch habe die Firma die Krise relativ gut überstanden. So sei ein Nettogewinn von 14 Mio. USD erwirtschaftet worden, nach 16,4 Mio. USD in 2008.
Die Analysten von Westhouse würden für 2010 schon wieder einen Gwinnanstieg auf 21,4 Mio. USD und für 2011 auf 25,5 Mio. USD prognostizieren. Auf Basis dieser Schätzungen würde das KGV von 4 auf 3,3 sinken. Dies wäre sehr günstig, denn die Konkurrenz werde im Schnitt fast fünfmal höher bewertet.
Die Experten von "Emerging Markets Investor" empfehlen, die Jetion Solar-Aktie zu kaufen. (Ausgabe 02 vom 25.01.2010)
(26.01.2010/ac/a/a)
Offenlegung von möglichen Interessenskonflikten:
Mögliche Interessenskonflikte können Sie auf der Site des Erstellers/ der Quelle der Analyse einsehen.
ich habe mal ein paar nachgelegt;
mit den 11,7 Mio. $ Gewinn, die übertroffen werden sollen, lande ich bei einem KGV von 7,1...
mit den 11,7 Mio. $ Gewinn, die übertroffen werden sollen, lande ich bei einem KGV von 7,1...
sollte dem Kurs nicht schaden..:
For Immediate Release 19 March 2010
Jetion Solar Holdings Limited
("Jetion" or the "Company")
Hong Kong Stock Exchange - Submission of A1
Jetion Solar Holdings Limited (AIM:JHL), the manufacturer of high quality solar cells and modules, announces that it intends to seek a listing on the main board of The Stock Exchange of Hong Kong Ltd ("HKSE") by way of introduction ("Proposed Listing"). It has today submitted its application for the Proposed Listing (Form A1) to the HKSE.
The Directors believe that the Company will benefit from having a dual listing status in Hong Kong whilst maintaining its trading status on AIM, as this will:
· provide exposure to two equity markets, in Europe and Asia, which have different investor profiles
· facilitate investment by Hong Kong based investors thereby enabling easier access to the funding pools available there
· broaden the Group's profile in Hong Kong and the PRC, where its operations are principally located
Commenting on the proposed dual listing, Chairman Gabriel Kow said:
"Our business in China is expanding fast and we believe the time is right to broaden our access to investors in the territories where we are based. However, we remain committed to our listing in London, particularly as we are expanding our footprint in Europe."
E N D S
For Immediate Release 19 March 2010
Jetion Solar Holdings Limited
("Jetion" or the "Company")
Hong Kong Stock Exchange - Submission of A1
Jetion Solar Holdings Limited (AIM:JHL), the manufacturer of high quality solar cells and modules, announces that it intends to seek a listing on the main board of The Stock Exchange of Hong Kong Ltd ("HKSE") by way of introduction ("Proposed Listing"). It has today submitted its application for the Proposed Listing (Form A1) to the HKSE.
The Directors believe that the Company will benefit from having a dual listing status in Hong Kong whilst maintaining its trading status on AIM, as this will:
· provide exposure to two equity markets, in Europe and Asia, which have different investor profiles
· facilitate investment by Hong Kong based investors thereby enabling easier access to the funding pools available there
· broaden the Group's profile in Hong Kong and the PRC, where its operations are principally located
Commenting on the proposed dual listing, Chairman Gabriel Kow said:
"Our business in China is expanding fast and we believe the time is right to broaden our access to investors in the territories where we are based. However, we remain committed to our listing in London, particularly as we are expanding our footprint in Europe."
E N D S
Ist noch jemand drin ?
For immediate release 26 May 2010
Jetion Solar Holdings Limited
("Jetion Solar" or the "Company")
Notification of Preliminary Results
Jetion Solar Holdings Limited (AIM: JHL), the manufacturer of solar cells and modules, will announce its Preliminary Results for the year ended 31 December 2009 on Friday 28 May 2010.
An analyst briefing will be held at 9.30am on the morning of results at Buchanan Communications, 45 Moorfields, London EC2Y 9AE.
Jetion Solar Holdings Limited
("Jetion Solar" or the "Company")
Notification of Preliminary Results
Jetion Solar Holdings Limited (AIM: JHL), the manufacturer of solar cells and modules, will announce its Preliminary Results for the year ended 31 December 2009 on Friday 28 May 2010.
An analyst briefing will be held at 9.30am on the morning of results at Buchanan Communications, 45 Moorfields, London EC2Y 9AE.
Zahlen besser als von mir erwartet, aber Kurs schmiert ab:
RNS Number : 7087M Jetion Solar Holdings Limited 28 May 2010
Please be aware that this Preliminary Results statement is to replace the announcement released today at 7:00 under RNS number: 7059M
For Immediate Release 28 May 2010
Jetion Solar Holdings Limited
("Jetion Solar" or the "Company")
Preliminary Results for the year ended 31 December 2009
Jetion Solar 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 2009.
Key Points
· Sales down 29.5% to US$176.8m (2008: US$250.9m)
· Gross profit up 1.5% to US$41.4m (2008: US$40.8m)
· Gross margin improved 7.1% to 23.4% (2008: 16.3%)
· Operating Profit down 32.6% to US$20.3m (2008 : 30.1m)
· Pre Tax Profit up 6.0% to US$21.3m (2008: 20.1m)
· Net profit up 5.5% to US$17.3m (2008: US$16.4m)
· Earnings per share up 5.9% to US23.4 cents (2008: US22.1 cents)
· Solar cell manufacturing capacity maintained in the year at 100MW pa (2008: 100MW) while annual production output up 48.7% to 97.1MW (2008: 65.3MW)
· Solar module manufacturing capacity at year end increased to 75MW pa (2008: 60MW) while annual production output up 30.0% to 56.3MW (2008: 43.3MW)
· Current trading adversely affected by the weakness of the Euro (almost 100% of sales solar modules were into Europe)
Commenting on the results Chairman Gabriel Kow said:
"I believe that in 2009 Jetion Solar demonstrated by its performance, in the face of the extremely difficult economic environment and trading conditions, that it has the strength and depth of management, systems and controls to be a major player in the solar industry. However, although we have a growing order book and will have the production capacity to satisfy those orders our profitability in 2010 will be largely determined by the performance of the Euro during the remainder of the year."
For further information, please contact:
Gabriel Kow
+44 (0) 7810 568 788
Evolution Securities Limited
+44 (0) 20 7071 4300
Tim Worlledge/ Esther Lee (Nominated adviser)
Tim Redfern (Corporate Broking)
Buchanan Communications
+44 (0) 20 7466 5000
Mark Edwards / Christian Goodbody
Chairman's Statement
I am pleased to report that, despite the challenging trading conditions that have prevailed in our sector and others as a result of the global economic crisis, we have made good progress in 2009.
Following a slow start in Q1, the market started to recover in Q2 and a strong performance in the second part of the year enabled us to achieve a very satisfactory outturn. Turnover was down 29.5% to US$176.8m (2008: US$250.9m) as a result of a fall in both cell and module average selling prices from US$3.87 per Watt for 2008 US$1.73 per Watt. This was partly offset by an improvement in gross margin from 16.3% to 23.4% in the year. As a result, we are reporting a profit before tax of US$21.3m, compared with US$20.1m (after a US$7.8m loss on exchange) in 2008 and a 5.9% increase in EPS to US 23.4 cents (2008: US 22.1 cents).
Results
Following the management changes in June 2009, we undertook an extensive review of our sales strategy, sales channel structure and market segmentation to ensure that the Company had and continues to have a strong market position and order flow. We also tightened our cost controls, made progress on conversion efficiency and strengthened the branding of our own products, all of which contributed to improved profitability. We continue to pay close attention to customer relationships and improving customer satisfaction, which is critical to business growth.
During the year we increased our solar module production capacity from 60 MW to 75 MW and maintained our solar cell production capacity at 100 MW. In April this year we increased our solar module capacity to 200MW and plan to increase our solar cell capacity to 200 MW during the second half of 2010. Our full year average solar cell production utilisation ratio was 97% (2008: 92%).
In H2 2009 we increased to almost 100% the proportion of our solar cell production that went into solar modules for third party sales. This, combined with an improved conversion ratio from wafers, enabled us to improve our gross margin from 16.3% for 2008 to 23.4% for 2009.
Post Year End Events
In April 2010 we acquired the 49% remaining shareholding in Jetion Solar (Europe) Limited ("Jetion Europe") for a consideration of 1,132,000 new shares of the Company, which equates to a cost of approximately US$1.77m. In addition to providing valuable sales channels into Europe, Jetion Europe has been developing a secondary business, being the building and operation of 2 small photovoltaic power stations (solar farms) in Italy (1.5MW) and Germany (1.0MW), and has entered into 20 year power supply agreements with the relevant electricity grids. The Board believes that this expertise will provide the Group with the platform to enter into similar arrangements in China and elsewhere in the world.
In March 2010 we applied to the Hong Kong Stock Exchange for our shares to be admitted to trading on the Hong Kong Main Board and it is expected that this listing process will be completed in the late summer. We believe that the additional listing will help to increase our brand recognition as we seek to develop our sales in China and in the Asia Pacific region. It is currently intended to raise additional capital at that time in order to increase our capital base in line with the growth of our business.
Current Trading and Outlook
Trading in the first quarter of the current year has been satisfactory with strong sales of modules and stable average selling prices. However, as most of our sales are into Europe, the world's largest solar market, our margins have suffered from the weakness of the Euro. In consequence, the results for the half year to 30 June 2010 are likely to show a profit which is less than for the same period last year, albeit that sales volumes are expected to be some 130% higher.
I believe that in 2009 Jetion Solar demonstrated by its performance, in the face of the extremely difficult economic environment and trading conditions, that it has the strength and depth of management, systems and controls to be a major player in the solar industry. However, although we have a growing order book and will have the production capacity to satisfy those orders our profitability in 2010 will be largely determined by the performance of the Euro during the remainder of the year.
I extend my gratitude to the directors, management team and all employees for their hard work and commitment over the last year. It is thanks to their enthusiasm, persistence and dedication to their work that we have been able to make such good progress in 2009. I also thank our investors whose long term loyalty and support has motivated us through difficult times and given us confidence for the future.
Gabriel Kow
Chairman
Operations Review
Whilst we have been able to report improved net profits in 2009, there have been some very significant changes in our industry and our Company which are, to some extent, masked by this result.
Turnover and Gross Margin
Turnover decreased by 29.5% due to a downturn by an average of 55% in average selling price from US$3.87 per Watt to US$1.73 per Watt between 2008 and 2009. Some 77% (2008: 76%) of our turnover is represented by sales of solar modules, which are sold mainly into Europe. The balance of our sales in both years was of solar cells and these were sold mainly into China. Total sales of modules accounted for 65.7 MW, at an average selling price of EUR1.48 per Watt, during the year compared with 45.2 MW, at an average selling price of EUR2.78 per Watt in 2008.
Historically, the majority of our sales of solar modules had been into Germany and Spain but during 2009 we had some success in broadening our exports into other countries such that the breakdown of our sales of solar modules in 2009 was Germany 54%, Liechtenstein 27% (mainly sales via Jetion Europe, the majority of which were distributed to Germany, France and Czech Republic) USA 15%, and other new emerging markets 4%. Europe remains the major area for our sales.
Against the backdrop of reduced turnover we benefited from a reduction in raw material costs, down by an average of 59% year on year, and from a more rigorous control of our operating costs and practices. As a result we achieved a significant improvement in our gross margin from 16.3% to 23.4% (an increase from 13.2% to 24.1% when exchange gains and losses are included).
Production
Solar cell production capacity remained constant throughout 2008 and 2009 at 100 MW but production output in 2009 was 97.1 MW, compared with only 65.3 MW in 2008, an increase of 48.7%. Solar module production capacity was increased from 60 MW to 75 MW enabling us to achieve production output of 65.3 MW compared with 43.3 MW in 2008.
In addition to the increased production output we also improved our solar cell conversion efficiency rate, achieving an average rate of 17.5% in the year and a peak conversion efficiency in mass production of 18.5%. We continue to invest in research and process improvements with the aim of achieving ever higher conversion efficiencies.
As referred to above we have, already this year, increased our solar module production capacity to 200 MW and we have ordered additional solar cell production lines for commissioning in July and September respectively, which will increase our cell capacity to 200 MW also. We continue to build our order book and believe that this is the appropriate step to take at this time as we seek to provide our customers with good quality products when they need them at a time when our industry is becoming increasingly competitive.
Outlook
The solar industry, according to the Solarbuzz 2010 report, is expected to continue its rapid growth. The majority of markets around the world support a wide range of solar applications and we believe that we are well positioned to benefit from these opportunities provided that we continue to offer top quality products displaying the most advanced technology.
We are working hard to develop further our sales channels and, already this year, we have made inroads into developing customers in Italy, which we expect to be a major export area in 2010.
Wenyan Xu
Chief Executive Officer
Financial Review
Financial results
As reported above, turnover decreased by 29.5% to US$176.8m (2008: US$250.9m), although sales volume increased from 65.3 MW to 102.3 MW. Gross profit was US$41.4m (2008: US$40.8m) and profit from operations was US$20.3m (2008: US$30.1m) resulting in a profit before tax of US$21.3m (2008: US$ 20.1m). After a tax charge of US$4.0m (2008: US$ 3.7m) the profit attributable to shareholders was US$17.3m (2008: US$16.4m), giving earnings per share of US23.4 cents (2008: US22.1 cents).
Our distribution costs increased from US$1.6m in 2008 to US$ 3.5m in 2009, due mainly to an increase in sales commissions paid for overseas sales, and our administrative expenses increased from US$6.5m in 2008 to US$8.7m in 2009 due mainly to a one off credit against staff costs in 2008 arising from settlement of a payment to the former Chairman.
The Group enjoyed a foreign exchange gain of US$1.2m due to the appreciation of the Euro against the US dollar in 2009, compared with a US$7.8m loss in 2008. We continue to be susceptible to movements in the exchange rate of the Euro against the US dollar and, indeed, our trading in 2010 has been adversely effected by the recent weakness of the Euro. In 2009 the Company hedged some of its currency exposure. To date this has not been continued in 2010 but the Board is continuously monitoring the situation.
Balance Sheet
I am pleased to report that the Group's net cash balance increased substantially during the year to US$40.7m (2008: US$3.6m) mainly as a result of more rigorous control of our working capital.
The debt to equity ratio increased slightly from 51.1% to 51.9%. There were no other significant movements in the balance sheet during the year
Outlook
The Group continues to develop its operational capacity in order to meet increasing customer demand and maintain its market position. With this in mind the Board has approved capital expenditure to enable the installation of four additional solar cell production lines during 2010. Whilst the Board has adequate resources and facilities to fund this expansion, it currently intends to raise additional capital at the time of its listing on the Hong Kong Stock Exchange, expected to be completed in the second half of this year.
Going concern
The Directors have considered the budgets, forecasts, cashflows and development plans or the operating companies and consider that the Company and the Group have adequate financial resources for their foreseeable needs, and, accordingly, have continued to adopt the going concern basis for the preparation for these financial statements.
Liming Chan
Chief Financial Officer
RNS Number : 7087M Jetion Solar Holdings Limited 28 May 2010
Please be aware that this Preliminary Results statement is to replace the announcement released today at 7:00 under RNS number: 7059M
For Immediate Release 28 May 2010
Jetion Solar Holdings Limited
("Jetion Solar" or the "Company")
Preliminary Results for the year ended 31 December 2009
Jetion Solar 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 2009.
Key Points
· Sales down 29.5% to US$176.8m (2008: US$250.9m)
· Gross profit up 1.5% to US$41.4m (2008: US$40.8m)
· Gross margin improved 7.1% to 23.4% (2008: 16.3%)
· Operating Profit down 32.6% to US$20.3m (2008 : 30.1m)
· Pre Tax Profit up 6.0% to US$21.3m (2008: 20.1m)
· Net profit up 5.5% to US$17.3m (2008: US$16.4m)
· Earnings per share up 5.9% to US23.4 cents (2008: US22.1 cents)
· Solar cell manufacturing capacity maintained in the year at 100MW pa (2008: 100MW) while annual production output up 48.7% to 97.1MW (2008: 65.3MW)
· Solar module manufacturing capacity at year end increased to 75MW pa (2008: 60MW) while annual production output up 30.0% to 56.3MW (2008: 43.3MW)
· Current trading adversely affected by the weakness of the Euro (almost 100% of sales solar modules were into Europe)
Commenting on the results Chairman Gabriel Kow said:
"I believe that in 2009 Jetion Solar demonstrated by its performance, in the face of the extremely difficult economic environment and trading conditions, that it has the strength and depth of management, systems and controls to be a major player in the solar industry. However, although we have a growing order book and will have the production capacity to satisfy those orders our profitability in 2010 will be largely determined by the performance of the Euro during the remainder of the year."
For further information, please contact:
Gabriel Kow
+44 (0) 7810 568 788
Evolution Securities Limited
+44 (0) 20 7071 4300
Tim Worlledge/ Esther Lee (Nominated adviser)
Tim Redfern (Corporate Broking)
Buchanan Communications
+44 (0) 20 7466 5000
Mark Edwards / Christian Goodbody
Chairman's Statement
I am pleased to report that, despite the challenging trading conditions that have prevailed in our sector and others as a result of the global economic crisis, we have made good progress in 2009.
Following a slow start in Q1, the market started to recover in Q2 and a strong performance in the second part of the year enabled us to achieve a very satisfactory outturn. Turnover was down 29.5% to US$176.8m (2008: US$250.9m) as a result of a fall in both cell and module average selling prices from US$3.87 per Watt for 2008 US$1.73 per Watt. This was partly offset by an improvement in gross margin from 16.3% to 23.4% in the year. As a result, we are reporting a profit before tax of US$21.3m, compared with US$20.1m (after a US$7.8m loss on exchange) in 2008 and a 5.9% increase in EPS to US 23.4 cents (2008: US 22.1 cents).
Results
Following the management changes in June 2009, we undertook an extensive review of our sales strategy, sales channel structure and market segmentation to ensure that the Company had and continues to have a strong market position and order flow. We also tightened our cost controls, made progress on conversion efficiency and strengthened the branding of our own products, all of which contributed to improved profitability. We continue to pay close attention to customer relationships and improving customer satisfaction, which is critical to business growth.
During the year we increased our solar module production capacity from 60 MW to 75 MW and maintained our solar cell production capacity at 100 MW. In April this year we increased our solar module capacity to 200MW and plan to increase our solar cell capacity to 200 MW during the second half of 2010. Our full year average solar cell production utilisation ratio was 97% (2008: 92%).
In H2 2009 we increased to almost 100% the proportion of our solar cell production that went into solar modules for third party sales. This, combined with an improved conversion ratio from wafers, enabled us to improve our gross margin from 16.3% for 2008 to 23.4% for 2009.
Post Year End Events
In April 2010 we acquired the 49% remaining shareholding in Jetion Solar (Europe) Limited ("Jetion Europe") for a consideration of 1,132,000 new shares of the Company, which equates to a cost of approximately US$1.77m. In addition to providing valuable sales channels into Europe, Jetion Europe has been developing a secondary business, being the building and operation of 2 small photovoltaic power stations (solar farms) in Italy (1.5MW) and Germany (1.0MW), and has entered into 20 year power supply agreements with the relevant electricity grids. The Board believes that this expertise will provide the Group with the platform to enter into similar arrangements in China and elsewhere in the world.
In March 2010 we applied to the Hong Kong Stock Exchange for our shares to be admitted to trading on the Hong Kong Main Board and it is expected that this listing process will be completed in the late summer. We believe that the additional listing will help to increase our brand recognition as we seek to develop our sales in China and in the Asia Pacific region. It is currently intended to raise additional capital at that time in order to increase our capital base in line with the growth of our business.
Current Trading and Outlook
Trading in the first quarter of the current year has been satisfactory with strong sales of modules and stable average selling prices. However, as most of our sales are into Europe, the world's largest solar market, our margins have suffered from the weakness of the Euro. In consequence, the results for the half year to 30 June 2010 are likely to show a profit which is less than for the same period last year, albeit that sales volumes are expected to be some 130% higher.
I believe that in 2009 Jetion Solar demonstrated by its performance, in the face of the extremely difficult economic environment and trading conditions, that it has the strength and depth of management, systems and controls to be a major player in the solar industry. However, although we have a growing order book and will have the production capacity to satisfy those orders our profitability in 2010 will be largely determined by the performance of the Euro during the remainder of the year.
I extend my gratitude to the directors, management team and all employees for their hard work and commitment over the last year. It is thanks to their enthusiasm, persistence and dedication to their work that we have been able to make such good progress in 2009. I also thank our investors whose long term loyalty and support has motivated us through difficult times and given us confidence for the future.
Gabriel Kow
Chairman
Operations Review
Whilst we have been able to report improved net profits in 2009, there have been some very significant changes in our industry and our Company which are, to some extent, masked by this result.
Turnover and Gross Margin
Turnover decreased by 29.5% due to a downturn by an average of 55% in average selling price from US$3.87 per Watt to US$1.73 per Watt between 2008 and 2009. Some 77% (2008: 76%) of our turnover is represented by sales of solar modules, which are sold mainly into Europe. The balance of our sales in both years was of solar cells and these were sold mainly into China. Total sales of modules accounted for 65.7 MW, at an average selling price of EUR1.48 per Watt, during the year compared with 45.2 MW, at an average selling price of EUR2.78 per Watt in 2008.
Historically, the majority of our sales of solar modules had been into Germany and Spain but during 2009 we had some success in broadening our exports into other countries such that the breakdown of our sales of solar modules in 2009 was Germany 54%, Liechtenstein 27% (mainly sales via Jetion Europe, the majority of which were distributed to Germany, France and Czech Republic) USA 15%, and other new emerging markets 4%. Europe remains the major area for our sales.
Against the backdrop of reduced turnover we benefited from a reduction in raw material costs, down by an average of 59% year on year, and from a more rigorous control of our operating costs and practices. As a result we achieved a significant improvement in our gross margin from 16.3% to 23.4% (an increase from 13.2% to 24.1% when exchange gains and losses are included).
Production
Solar cell production capacity remained constant throughout 2008 and 2009 at 100 MW but production output in 2009 was 97.1 MW, compared with only 65.3 MW in 2008, an increase of 48.7%. Solar module production capacity was increased from 60 MW to 75 MW enabling us to achieve production output of 65.3 MW compared with 43.3 MW in 2008.
In addition to the increased production output we also improved our solar cell conversion efficiency rate, achieving an average rate of 17.5% in the year and a peak conversion efficiency in mass production of 18.5%. We continue to invest in research and process improvements with the aim of achieving ever higher conversion efficiencies.
As referred to above we have, already this year, increased our solar module production capacity to 200 MW and we have ordered additional solar cell production lines for commissioning in July and September respectively, which will increase our cell capacity to 200 MW also. We continue to build our order book and believe that this is the appropriate step to take at this time as we seek to provide our customers with good quality products when they need them at a time when our industry is becoming increasingly competitive.
Outlook
The solar industry, according to the Solarbuzz 2010 report, is expected to continue its rapid growth. The majority of markets around the world support a wide range of solar applications and we believe that we are well positioned to benefit from these opportunities provided that we continue to offer top quality products displaying the most advanced technology.
We are working hard to develop further our sales channels and, already this year, we have made inroads into developing customers in Italy, which we expect to be a major export area in 2010.
Wenyan Xu
Chief Executive Officer
Financial Review
Financial results
As reported above, turnover decreased by 29.5% to US$176.8m (2008: US$250.9m), although sales volume increased from 65.3 MW to 102.3 MW. Gross profit was US$41.4m (2008: US$40.8m) and profit from operations was US$20.3m (2008: US$30.1m) resulting in a profit before tax of US$21.3m (2008: US$ 20.1m). After a tax charge of US$4.0m (2008: US$ 3.7m) the profit attributable to shareholders was US$17.3m (2008: US$16.4m), giving earnings per share of US23.4 cents (2008: US22.1 cents).
Our distribution costs increased from US$1.6m in 2008 to US$ 3.5m in 2009, due mainly to an increase in sales commissions paid for overseas sales, and our administrative expenses increased from US$6.5m in 2008 to US$8.7m in 2009 due mainly to a one off credit against staff costs in 2008 arising from settlement of a payment to the former Chairman.
The Group enjoyed a foreign exchange gain of US$1.2m due to the appreciation of the Euro against the US dollar in 2009, compared with a US$7.8m loss in 2008. We continue to be susceptible to movements in the exchange rate of the Euro against the US dollar and, indeed, our trading in 2010 has been adversely effected by the recent weakness of the Euro. In 2009 the Company hedged some of its currency exposure. To date this has not been continued in 2010 but the Board is continuously monitoring the situation.
Balance Sheet
I am pleased to report that the Group's net cash balance increased substantially during the year to US$40.7m (2008: US$3.6m) mainly as a result of more rigorous control of our working capital.
The debt to equity ratio increased slightly from 51.1% to 51.9%. There were no other significant movements in the balance sheet during the year
Outlook
The Group continues to develop its operational capacity in order to meet increasing customer demand and maintain its market position. With this in mind the Board has approved capital expenditure to enable the installation of four additional solar cell production lines during 2010. Whilst the Board has adequate resources and facilities to fund this expansion, it currently intends to raise additional capital at the time of its listing on the Hong Kong Stock Exchange, expected to be completed in the second half of this year.
Going concern
The Directors have considered the budgets, forecasts, cashflows and development plans or the operating companies and consider that the Company and the Group have adequate financial resources for their foreseeable needs, and, accordingly, have continued to adopt the going concern basis for the preparation for these financial statements.
Liming Chan
Chief Financial Officer
Antwort auf Beitrag Nr.: 39.598.722 von R-BgO am 28.05.10 11:27:27KGV beträgt noch 4,5; Kapazität seit Jahresbeginn verdoppelt, Vertriebstochter in Europa übernommen.
ASP in 2009 $1,73 und damit voll wettbewerbsfähig zu den Großen.
Habe Posi verfünffacht.
Spekuliere auf Anstieg, wenn Listing in HK erfolgt.
ASP in 2009 $1,73 und damit voll wettbewerbsfähig zu den Großen.
Habe Posi verfünffacht.
Spekuliere auf Anstieg, wenn Listing in HK erfolgt.
Antwort auf Beitrag Nr.: 39.598.769 von R-BgO am 28.05.10 11:36:26Hmmm, alles (im Ausblick) auf den schwachen Euro zu schieben ist mir zu einfach! Der schwächelt auf immer noch hohem Niveau eigentlich erst seit 2010. Der Ausblick gefällt mir eher nicht. Zumal die administrativen Kosten und die Vertriebskosten deutlich steigen...
Gruß
rohbi
Gruß
rohbi
Antwort auf Beitrag Nr.: 39.606.309 von rohbi am 30.05.10 22:02:58Wer kann mir sagen wann die Halbjahreszahlen kommen ? Gibt es sonst noch Infos ?
Ist das KGV jetzt 3,5 oder 8,x ?
Ist das KGV jetzt 3,5 oder 8,x ?
Antwort auf Beitrag Nr.: 39.598.769 von R-BgO am 28.05.10 11:36:26 LONDON, Sept 10 (Reuters) - Jetion Solar Holdings Ltd:
* Decided to postpone the proposed listing on the main board of the stock
exchange of Hong Kong
* Prevailing volatile economic conditions and weak market sentiment do not
provide the right conditions
* Results for the first half of 2010 to be in line with market expectations
* Decided to postpone the proposed listing on the main board of the stock
exchange of Hong Kong
* Prevailing volatile economic conditions and weak market sentiment do not
provide the right conditions
* Results for the first half of 2010 to be in line with market expectations
Antwort auf Beitrag Nr.: 40.132.716 von R-BgO am 10.09.10 15:10:13Also in London gabs heute ein paar Umsätze. Hatte selber vor einigen Tagen mit Herrn Kow telefoniert. Ein sehr gestresster Mensch. Aber nach einigen Minuten wurde er dann freundlicher. Aktuell haben die Credit Suisse sich von Anteilen getrennt und die Norge Bank, ist neuer Großaktionär und scheint Bestände aufzunehmen. Wenn jemand Geld hat dann die Norweger. Die Gesamtkapazität wurde bisjetzt auf 250 MW aufgebohrt (Zellen und Module). Es wird weiter expandiert, Produktionslinie 7 plus 8 sind in Arbeit. Die gesamte Jahresproduktion ist bereits ausverkauft. Das hat mir auch der deutsche Vertrieb bestätigt. Interessant ist, das man einfach keine Stücke bekommt wenn mann
einen Cent über den Bid vom Marketmaker setzt. Weder in Frankfurt noch an der LSE. Ich habe dort ein Limit gesetzt von 52 Pence und bin seit 4 Tagen nicht bedient worden.
Aber eins verstehe ich nicht, wenn der Dollarkurs für Jetion zur Zeit 10 cent zu günstig ist aber alle anderen den Outlook als gut bezeichnen, warum gibt Jetion ihren Zahlen immer eine negative Fussnote mit ? Die haben doch in 2009 sehr gut verdient (KGV 3,5), während die Mitbewerber wie renesola Verluste gemacht haben. Selbst ein 2010e KGV von 8,5 ist doch günstig. Warum wird das nicht unterstrichen ?
einen Cent über den Bid vom Marketmaker setzt. Weder in Frankfurt noch an der LSE. Ich habe dort ein Limit gesetzt von 52 Pence und bin seit 4 Tagen nicht bedient worden.
Aber eins verstehe ich nicht, wenn der Dollarkurs für Jetion zur Zeit 10 cent zu günstig ist aber alle anderen den Outlook als gut bezeichnen, warum gibt Jetion ihren Zahlen immer eine negative Fussnote mit ? Die haben doch in 2009 sehr gut verdient (KGV 3,5), während die Mitbewerber wie renesola Verluste gemacht haben. Selbst ein 2010e KGV von 8,5 ist doch günstig. Warum wird das nicht unterstrichen ?
heute und gestern je 700.000 Stück in London gehandelt, leicht steigende Kurse und vielleicht diese Woche noch die earnings.
http://www.iii.co.uk/investment/detail?code=cotn:JHL.L&displ…
http://www.iii.co.uk/investment/detail?code=cotn:JHL.L&displ…
Jetion Solar Holdings Limited (AIM:JHL), the manufacturer of high quality solar cells and modules, announces today its unaudited interim results for the six months ended 30th June, 2010
Financial Highlights
· Turnover US$146.7m (H1 2009: US$55.9m)
· Gross profit US$ 28.0m (H1 2009: US$ 10.1m)
· Pre-tax profit US$4.8m (H1 2009 : US$3.2m)
· Post-tax profit US$4.1m (H1 2009: US$2.4m)
· Gross margin 19.1% (H1 2009: 18.1%)
· Basic earnings per share US cents 5.44 (H1 2009: US cents 3.28)
Operating Highlights
· Sales volume 83.0MW (H1 2009: 37.1MW) up 123.7%
- Export sales volume increased to 79.5MW (H1 2009: 11.6MW)
- China sales volume decreased to 3.5MW (H1 2009: 25.5MW)
· Production volume:
- Solar cell output 60.1MW (H1 2009: 41.7MW)
- Solar module output 84.1MW (H1 2009: 11.3MW)
· Average efficiency rate of monocrystalline silicon solar cell production lines exceeded 17.5% during the period (H1 2009: 17.0%)
Regarding the outlook Chairman Gabriel Kow said:
"During the second half of the year we have installed two new lines, both of which are being utilised at full capacity and will therefore enable us to drive our revenue. In addition, because of our expertise and long-standing customer relationships which have allowed us to secure some longer term contracts, and despite some margin pressures and the challenging market conditions, we remain confident of meeting our expectations for the fullyear.
Financial Highlights
· Turnover US$146.7m (H1 2009: US$55.9m)
· Gross profit US$ 28.0m (H1 2009: US$ 10.1m)
· Pre-tax profit US$4.8m (H1 2009 : US$3.2m)
· Post-tax profit US$4.1m (H1 2009: US$2.4m)
· Gross margin 19.1% (H1 2009: 18.1%)
· Basic earnings per share US cents 5.44 (H1 2009: US cents 3.28)
Operating Highlights
· Sales volume 83.0MW (H1 2009: 37.1MW) up 123.7%
- Export sales volume increased to 79.5MW (H1 2009: 11.6MW)
- China sales volume decreased to 3.5MW (H1 2009: 25.5MW)
· Production volume:
- Solar cell output 60.1MW (H1 2009: 41.7MW)
- Solar module output 84.1MW (H1 2009: 11.3MW)
· Average efficiency rate of monocrystalline silicon solar cell production lines exceeded 17.5% during the period (H1 2009: 17.0%)
Regarding the outlook Chairman Gabriel Kow said:
"During the second half of the year we have installed two new lines, both of which are being utilised at full capacity and will therefore enable us to drive our revenue. In addition, because of our expertise and long-standing customer relationships which have allowed us to secure some longer term contracts, and despite some margin pressures and the challenging market conditions, we remain confident of meeting our expectations for the fullyear.
Antwort auf Beitrag Nr.: 40.132.716 von R-BgO am 10.09.10 15:10:1310 September 2010
Jetion Solar Holdings Limited
("Jetion Solar" or the "Company")
Hong Kong Listing Update
Jetion Solar Holdings Limited (AIM:JHL), the manufacturer of high quality solar cells
and modules, announces that,further to its announcement dated 19 March 2010, the
Board has decided to postpone the proposed listing on the main board of The Stock
Exchange of Hong Kong Ltd ("Proposed Listing") indefinitely.
The Board considers that the prevailing volatile economic conditions and weak
market sentiment do not provide the right conditions for the Proposed Listing.
Despite the difficult market conditions, we expect that our results for the first half of
2010 to be in line with market expectations.
Jetion Solar Holdings Limited
("Jetion Solar" or the "Company")
Hong Kong Listing Update
Jetion Solar Holdings Limited (AIM:JHL), the manufacturer of high quality solar cells
and modules, announces that,further to its announcement dated 19 March 2010, the
Board has decided to postpone the proposed listing on the main board of The Stock
Exchange of Hong Kong Ltd ("Proposed Listing") indefinitely.
The Board considers that the prevailing volatile economic conditions and weak
market sentiment do not provide the right conditions for the Proposed Listing.
Despite the difficult market conditions, we expect that our results for the first half of
2010 to be in line with market expectations.
Antwort auf Beitrag Nr.: 40.133.163 von ibmisout am 10.09.10 16:09:12na ja, sehe weniger Renesola als Trina/Yingli/Suntech als Wettbewerber; deren KGVs liegen auch roundabout bei 10
und denen gegnüber ist man zwergig (gilt übrigens auch für meinen anderen Wert CNPV)
Also muss man als Aktionär vielleicht letztlich auf Ausschüttungen hoffen; sehe nicht so recht, dass man übernommen werden könnte.
und denen gegnüber ist man zwergig (gilt übrigens auch für meinen anderen Wert CNPV)
Also muss man als Aktionär vielleicht letztlich auf Ausschüttungen hoffen; sehe nicht so recht, dass man übernommen werden könnte.
Antwort auf Beitrag Nr.: 40.231.858 von R-BgO am 29.09.10 14:10:57Turnover US$146.7m (H1 2009: US$55.9m) Umsatz verdreifacht !
Gross profit US$ 28.0m (H1 2009: US$ 10.1m) Gross Marge verdreifacht !
Post-tax profit US$4.1m (H1 2009: US$2.4m) zwar nur verdoppelt, aber das beidem Dollar
Module shipment 79,4 MW (H1 2009: 11,6 MW) mehr als versechsfacht !
Cash US$107 Million (H12009 43,7 Mill)
>>During the second half of the year we have installed two new lines, both of which are being utilised at full capacity and will therefore enable us to drive our revenuevom 1. Halbjahr<<
Das waren Production Line 5 und 6, zur Zeit sind 7 und 8 in Arbeit. Produktion komplett ausverkauft.
The balance sheet as at 30 June, 2010 remains strong, with cash
balances and pledged bank deposit of US$107.7m, compared to
US$43.7m in 30 June, 2009 and $55.2m at 31 December 2009.
Es gibt kein anderes Unternehmen welches so krass unterbewertet ist, nur z.B
Trini Solar KGV 12.19 Jetion Solar KGV 4,12
Gross profit US$ 28.0m (H1 2009: US$ 10.1m) Gross Marge verdreifacht !
Post-tax profit US$4.1m (H1 2009: US$2.4m) zwar nur verdoppelt, aber das beidem Dollar
Module shipment 79,4 MW (H1 2009: 11,6 MW) mehr als versechsfacht !
Cash US$107 Million (H12009 43,7 Mill)
>>During the second half of the year we have installed two new lines, both of which are being utilised at full capacity and will therefore enable us to drive our revenuevom 1. Halbjahr<<
Das waren Production Line 5 und 6, zur Zeit sind 7 und 8 in Arbeit. Produktion komplett ausverkauft.
The balance sheet as at 30 June, 2010 remains strong, with cash
balances and pledged bank deposit of US$107.7m, compared to
US$43.7m in 30 June, 2009 and $55.2m at 31 December 2009.
Es gibt kein anderes Unternehmen welches so krass unterbewertet ist, nur z.B
Trini Solar KGV 12.19 Jetion Solar KGV 4,12
habe gerade nochmal 2000 in Frankfurz für 0,723 geordert ! Der Angebot war bei 0,722, das sollte dann wohl klappen. Gestern hatt ich für 0,69 um 17:45 geordert, aber eine Minute später wurde das Angebot auf 0,72 erhöht.
Antwort auf Beitrag Nr.: 40.238.234 von ibmisout am 30.09.10 10:55:11Schau' Dir mal CNPV an.
Habe ich versucht. Konnte keine Seite finden die über CNPV was hat. Nicht mal eine Reuter Analyse. Umsatz scheint die hälfte von Jetion zu sein. KGV ähnlich. Buchwert auch deutlich unter Marktkapitalisierung. Wenn Du eine Reutersanlyse findest sende ich Dir die von Jetion. Aber im Grunde ist das nicht weiter von Bedeutung. CNPV scheint eine noch schlechtere IR zu machen als Jetion und das ist das Problem.
Tja jetzt läuft Jetion langsam an. Der Dollarkurs entwickelt sich für die chinesischen Player auch in eine günstige Richtung.
Grüße kof
Grüße kof
Antwort auf Beitrag Nr.: 40.272.556 von king_of_fools am 06.10.10 11:30:20Hallo zusammen
Tja, sie soll nicht anlaufen sie soll mal durchstarten
Wollte eigentlich gerade rein.... Jahrestief 0,52 Jahreshoch round 1,20 hmmmm jetzt bei 0,78 €
Also wenn sie sich mitreissen lässt von meiner renesola aber weiß man´s ????
Ich glaub ich schau noch ein paar tage ( hoffe das sie etwas runter geht ;-) )
Potenzial ist auf jeden fall da, denke ich.... ich denke sogar sie wird abschießen....
Gruß aus China
Tja, sie soll nicht anlaufen sie soll mal durchstarten
Wollte eigentlich gerade rein.... Jahrestief 0,52 Jahreshoch round 1,20 hmmmm jetzt bei 0,78 €
Also wenn sie sich mitreissen lässt von meiner renesola aber weiß man´s ????
Ich glaub ich schau noch ein paar tage ( hoffe das sie etwas runter geht ;-) )
Potenzial ist auf jeden fall da, denke ich.... ich denke sogar sie wird abschießen....
Gruß aus China
Hallo Valero
ich glaube hier hat keiner diese Aktie für 0,52 kaufen können. Habe immer nur welche bekommen wenn ich den vollen Preis des Marketmaker bezahlt habe, und selbst dann bin ich 2 mal nicht zum Zug gekommen. Das Ding hat locker flockig Potenzial um auf 2 Euro zu kommen.
Was machst Du in China ?
ich glaube hier hat keiner diese Aktie für 0,52 kaufen können. Habe immer nur welche bekommen wenn ich den vollen Preis des Marketmaker bezahlt habe, und selbst dann bin ich 2 mal nicht zum Zug gekommen. Das Ding hat locker flockig Potenzial um auf 2 Euro zu kommen.
Was machst Du in China ?
Ich bin so froh das ich im August und September nachgekauft habe.
Schaut Euch die Preisentwicklung an:
http://www.pvxchange.com/en/index.php/preisindex_2.html
Nachfrage stabil
Die Preise europäischer Hersteller fallen, die Preise aus China sind seit Januar dagegen leicht gestiegen. Der Unterschied wird also geringer. Auch bezüglich der Nachfrage kommen unterschiedliche Signale.
Im August zeigten sich die Preise auf dem Spotmarkt stabil. Die Präsenz neuer europäischer Marken, vor allem aus Deutschland, führte dazu, dass die Durchschnittspreise der europäischen Solarmodule sanken. Waren kristalline Module aus Europa im Januar für 2,03 Euro pro Watt zu erwerben, kosten sie jetzt durchschnittlich 1,85 Euro. Zum Vergleich: Die Preise aus China lagen im Januar bei 1,55 Euro pro Watt und sind jetzt bei 1,61 Euro angelangt. Europäische Hersteller nähern sich somit dem Preisniveau der chinesischen Top-Produzenten an. Deren Preispolitik führt dazu, dass aufgrund der hohen Nachfrage Module aus dem Reich der Mitte auf dem Spotmarkt relativ teuer sind.
Auf der PVSEC in Valencia haben zahlreiche Käufer die Gelegenheit genutzt, um sich Kontingente zu guten Konditionen zu sichern. Yingli soll bereits jetzt Bestellungen in Höhe von fünf Gigawatt für 2011 bekommen haben. Weitere Rekordbestellungen sind zu erwarten; Experten gehen davon aus, dass die Nachfrage im nächsten Jahr hoch bleibt.
Über die Entwicklung in Deutschland waren in Valencia verschiedene Prognosen zu hören. Viele Installateure rechnen damit, dass der diesjährige prognostizierte Zubau von zirka sieben Gigawatt im nächsten Jahr nicht überschritten wird. Einige Experten sind jedoch der Meinung, dass bei einer Preissenkung von zehn Prozent Investitionen in die Photovoltaik attraktiv bleiben und der Zubau 2011 auch höher ausfallen könnte. Wenn die Strompreise weiter steigen, könnte 2012 oder 2013 in Deutschland die sogenannte Grid Parity erreicht werden. Welche Anreizmechanismen dann eingeführt werden, um Investitionen in die Solarenergie zu fördern, ist heute noch eine offene Frage.
Schaut Euch die Preisentwicklung an:
http://www.pvxchange.com/en/index.php/preisindex_2.html
Nachfrage stabil
Die Preise europäischer Hersteller fallen, die Preise aus China sind seit Januar dagegen leicht gestiegen. Der Unterschied wird also geringer. Auch bezüglich der Nachfrage kommen unterschiedliche Signale.
Im August zeigten sich die Preise auf dem Spotmarkt stabil. Die Präsenz neuer europäischer Marken, vor allem aus Deutschland, führte dazu, dass die Durchschnittspreise der europäischen Solarmodule sanken. Waren kristalline Module aus Europa im Januar für 2,03 Euro pro Watt zu erwerben, kosten sie jetzt durchschnittlich 1,85 Euro. Zum Vergleich: Die Preise aus China lagen im Januar bei 1,55 Euro pro Watt und sind jetzt bei 1,61 Euro angelangt. Europäische Hersteller nähern sich somit dem Preisniveau der chinesischen Top-Produzenten an. Deren Preispolitik führt dazu, dass aufgrund der hohen Nachfrage Module aus dem Reich der Mitte auf dem Spotmarkt relativ teuer sind.
Auf der PVSEC in Valencia haben zahlreiche Käufer die Gelegenheit genutzt, um sich Kontingente zu guten Konditionen zu sichern. Yingli soll bereits jetzt Bestellungen in Höhe von fünf Gigawatt für 2011 bekommen haben. Weitere Rekordbestellungen sind zu erwarten; Experten gehen davon aus, dass die Nachfrage im nächsten Jahr hoch bleibt.
Über die Entwicklung in Deutschland waren in Valencia verschiedene Prognosen zu hören. Viele Installateure rechnen damit, dass der diesjährige prognostizierte Zubau von zirka sieben Gigawatt im nächsten Jahr nicht überschritten wird. Einige Experten sind jedoch der Meinung, dass bei einer Preissenkung von zehn Prozent Investitionen in die Photovoltaik attraktiv bleiben und der Zubau 2011 auch höher ausfallen könnte. Wenn die Strompreise weiter steigen, könnte 2012 oder 2013 in Deutschland die sogenannte Grid Parity erreicht werden. Welche Anreizmechanismen dann eingeführt werden, um Investitionen in die Solarenergie zu fördern, ist heute noch eine offene Frage.
Antwort auf Beitrag Nr.: 40.321.348 von maximium am 14.10.10 14:34:26Hi maximum,
meine zeit hier geht gott sei dank dem ende zu, bin seit 2006 hier und zuständig für chinas neue hochgeschwindigkeitszüge.
Tja mal sehen ob ich bedient werde wenn ich ne order rausgebe....
Grüße
meine zeit hier geht gott sei dank dem ende zu, bin seit 2006 hier und zuständig für chinas neue hochgeschwindigkeitszüge.
Tja mal sehen ob ich bedient werde wenn ich ne order rausgebe....
Grüße
Hi,
den Beitrag habe ich gerade in einem Solarworld Thread gesehen.
http://www.senternovem.nl/mmfiles/RGS%20-%20Ribbon%20Growth%…
den Beitrag habe ich gerade in einem Solarworld Thread gesehen.
http://www.senternovem.nl/mmfiles/RGS%20-%20Ribbon%20Growth%…
Geld
0,761
Brief
0,775
habe gerade 3000 für 78 Cent geordert, gestern ebenfalls (erfolglos) knapp übern Brief. Resultat war das 30 min später der Preis um 3 Cent höher war. Es ist echt zum Mäusemelken. Wahrscheinlich muß man 85 cent eingeben damit man was bekommt.
0,761
Brief
0,775
habe gerade 3000 für 78 Cent geordert, gestern ebenfalls (erfolglos) knapp übern Brief. Resultat war das 30 min später der Preis um 3 Cent höher war. Es ist echt zum Mäusemelken. Wahrscheinlich muß man 85 cent eingeben damit man was bekommt.
nicht nur das ich wieder keine bekommen habe, der MM hat jetzt sogar seinen Geldkurs über meinen gestellt. Frechheit
Heute gabs New zu Jetion. Der CEO wechselt zu einer anderen Firma. Bin froh wenn der weg ist. Der hat es zu verantworten das Jetion so eine schlechte IR hat und das verpatzte CO Listing an der HSE. Andererseits haben wir dadurch hier ein Unternehmen was immer noch massiv unterbewertet ist.
Hier der Link:
http://www.iii.co.uk/investment/detail?code=cotn:JHL.L&displ…
Ich werde von meinen Gewinnen bei Solarword (PUTS) , Jetion bei Kursschwäche nachkaufen.
Hier der Link:
http://www.iii.co.uk/investment/detail?code=cotn:JHL.L&displ…
Ich werde von meinen Gewinnen bei Solarword (PUTS) , Jetion bei Kursschwäche nachkaufen.
Diese Firma ist einfach unglaublich. Der CFO and IR Vorstand von Jetion hat heute seine ganzen Aktien verkauft. Wenn ich diesen Laden nicht so gut kennen (oder meinen kennen zu würden:confused, würde ich mich jetzt grün ärgern.
Gut das ich so eine fette Kohle mit den Purs auf SW gemacht habe, aber mit dem Polster im Nacken harre ich da mal der Dinge die da kommen mögen.
Der Grund warum Mr. Wong seine Aktien verkauft hat, ist das er sich ein Eigenheim angeschafft hat und das Geld benötigte.
Ende Dezember ist mit einem Trading update zu rechnen. Es soll nichts negatives in der Pipeline sein.
Gut das ich so eine fette Kohle mit den Purs auf SW gemacht habe, aber mit dem Polster im Nacken harre ich da mal der Dinge die da kommen mögen.
Der Grund warum Mr. Wong seine Aktien verkauft hat, ist das er sich ein Eigenheim angeschafft hat und das Geld benötigte.
Ende Dezember ist mit einem Trading update zu rechnen. Es soll nichts negatives in der Pipeline sein.
Die Hauptaktionärin des Unternehmens ist jetzt CEO. Bin mal gespannt ob sich jetzt was ändert, bzgl IR.
http://www.iii.co.uk/investment/detail?code=cotn:JHL.L&displ…
http://www.iii.co.uk/investment/detail?code=cotn:JHL.L&displ…
Antwort auf Beitrag Nr.: 40.615.126 von ibmisout am 30.11.10 13:33:51Hallo ibmisout,
bin jetzt auch an Bord....
Gruß
qc
Hat jemand News.....
bin jetzt auch an Bord....
Gruß
qc
Hat jemand News.....
News gabs heute wieder bezüglich neuen chinesischen Großinvestor, der jetzt 4% überschritten hat:
http://www.iii.co.uk/investment/detail?code=cotn:JHL.L&displ…
http://www.iii.co.uk/investment/detail?code=cotn:JHL.L&displ…
Antwort auf Beitrag Nr.: 41.085.912 von ibmisout am 22.02.11 17:44:04Hi,
das sind doch gute Vorzeichen, da kann man auf die Zahlen im April-Mai gespannt sein.
Und die Investoren aus dem Reich der Mitte finde ich auch interessant.
Gruß
qc
das sind doch gute Vorzeichen, da kann man auf die Zahlen im April-Mai gespannt sein.
Und die Investoren aus dem Reich der Mitte finde ich auch interessant.
Gruß
qc
Habt Ihr da schon mal reingeschaut ?
http://www.wallstreet-online.de/diskussion/1163877-1-10/firs…
http://www.wallstreet-online.de/diskussion/1163877-1-10/firs…
Antwort auf Beitrag Nr.: 41.092.958 von maximium am 23.02.11 16:14:14Also wenn ich das so lese ist "Jetion Solar" echt preiswert zu haben,
aber sehr markteng und daher sehr volatil...
Gruß
qc
aber sehr markteng und daher sehr volatil...
Gruß
qc
volatil kann man nicht sagen. Seit Sommer 2010 geht es immer nur in einer Richtung. Auch der Spread ist recht eng. Heute 0,93 zu 0,95.
Ich habe heute um 16:00 einen Kaufauftrag über 2000 Stück in London abgesetzt. Bid war 0,79. Dafür sind die letzten Tage zig tausende verkauft worden. Ich habe 0,795 geboten. Bisher habe ich keine bekommen. Ultimo Februar. Allerdings habe ich bisher noch nie welche für den BID Kurs bekommen. Ich vermute der Marketmaker hat nur ein ganz paar. Wenn da ein bißchen Nachfrage aufkommt, dann wirst Du Volatilität sehen.
Kennst Du diesen Link ?
http://www.iii.co.uk/investment/detail?code=cotn:JHL.L&displ…
Ich habe heute um 16:00 einen Kaufauftrag über 2000 Stück in London abgesetzt. Bid war 0,79. Dafür sind die letzten Tage zig tausende verkauft worden. Ich habe 0,795 geboten. Bisher habe ich keine bekommen. Ultimo Februar. Allerdings habe ich bisher noch nie welche für den BID Kurs bekommen. Ich vermute der Marketmaker hat nur ein ganz paar. Wenn da ein bißchen Nachfrage aufkommt, dann wirst Du Volatilität sehen.
Kennst Du diesen Link ?
http://www.iii.co.uk/investment/detail?code=cotn:JHL.L&displ…
Antwort auf Beitrag Nr.: 41.094.118 von maximium am 23.02.11 18:23:10Hi
und danke für die INFO, den Link kannte ich noch nicht.
Bietet aber viele Informationen.
Gruß
qc
und danke für die INFO, den Link kannte ich noch nicht.
Bietet aber viele Informationen.
Gruß
qc
Art
Stück/
Nom.
Bezeichnung
WKN
Typ
Währg.
Freigabe
Börse
Limit
Zusatz
Status
Ordern
Ändern
Streichen
Kauf 2.000,000 JETION SOLAR HLDG LTD A0MWQ8
Aktie
GBP 16:06:39
23.02.11
EUL 0,795
--
ultimo Feb.
offen
zukaufen
Nur zur Info. Gestern reingestellt für 0,795. Wie erwartet keine Atücke bekommen. Obwohl heute wieder angeblich welche für 0,79 vrkauft wurden. Kann mir das jemand erklären ? Ich sehe es einfach nicht ein 0,82 zu bezahlen, wenn die Teile für 0,79
verkauft werden.
Stück/
Nom.
Bezeichnung
WKN
Typ
Währg.
Freigabe
Börse
Limit
Zusatz
Status
Ordern
Ändern
Streichen
Kauf 2.000,000 JETION SOLAR HLDG LTD A0MWQ8
Aktie
GBP 16:06:39
23.02.11
EUL 0,795
--
ultimo Feb.
offen
zukaufen
Nur zur Info. Gestern reingestellt für 0,795. Wie erwartet keine Atücke bekommen. Obwohl heute wieder angeblich welche für 0,79 vrkauft wurden. Kann mir das jemand erklären ? Ich sehe es einfach nicht ein 0,82 zu bezahlen, wenn die Teile für 0,79
verkauft werden.
Unbedingt lesen
>>It is estimated that the China's solar market is bigger than Germany by 2013.<<
>>The NPC meeting will pass the nation's 12th 5-year strategic plan<<
http://seekingalpha.com/article/254185-renewable-energy-inve…
>>It is estimated that the China's solar market is bigger than Germany by 2013.<<
>>The NPC meeting will pass the nation's 12th 5-year strategic plan<<
http://seekingalpha.com/article/254185-renewable-energy-inve…
Ja, die Zukunft sieht gut aus, für die Schlitzaugen.
Und für die Schlitzohren.
Und für die Schlitzohren.
Antwort auf Beitrag Nr.: 41.101.438 von maximium am 24.02.11 17:47:19Hi maxi,
gibt es was neues...... die Umsätze in London sind in den letzten Tagen echt gut gestiegen und das bei leider nicht steigenden Kursen.
Gruß
qc
gibt es was neues...... die Umsätze in London sind in den letzten Tagen echt gut gestiegen und das bei leider nicht steigenden Kursen.
Gruß
qc
die Dummheit der Aktionaere scheint Jetion zu zwingen einen Squeeze out vorzubereiten. Bankraub. Ich habe das immer befuerchtet.
ICh werde nicht verkaufen. das Abfindungsangebot liegt beio 83 britische Pence, das sind 10% mehr als der heutige kurs in Deutschland.
ICh werde nicht verkaufen. das Abfindungsangebot liegt beio 83 britische Pence, das sind 10% mehr als der heutige kurs in Deutschland.
Antwort auf Beitrag Nr.: 41.265.515 von ibmisout am 25.03.11 11:14:55Ich sehe das genauso....... aber +10% zum aktuellen Kurs sind aber dürftig, man steht ja unter Buchwert der sollte es aber mindestens sein.
Hast Du eine Quelle zur INFO und wann der Sequence out stattfindet.
Eine Perle verschwindet vom Kurszettel.....
Gruß
qc
Hast Du eine Quelle zur INFO und wann der Sequence out stattfindet.
Eine Perle verschwindet vom Kurszettel.....
Gruß
qc
Ich bleibe drin und kaempfe. Notfalls mit Anwalt.
22/03/2011 Miles Nolan
In what appears to be an increasing trend, China based solar power specialist Jetion Solar (JHL) has announced it is to leave AIM next month. So far 25 companies have delisted from the junior market this year. As is common, Jetion blames the costs of listing, poor liquidity and the difficulty in raising funds for its decision to leave.
Jetion manufacturers solar cells that are made from processed solar-grade silicon wafers that convert sunlight to electricity. Only in January the firm boasted of trading ahead of market expectations thanks to strong demand for its products. However, to survive in a competitive market, Jetion argues it will need to boost capacity from the current 200MW to at least 1000MW.
In the six months to 30 June sales lit up to $146.7 million (2009: $55.9 million) as pre-tax profits leapt 50 per cent to $4.8m. The progress was largely driven by increased interest from overseas markets, and the benefit of new production lines coming on stream.
Jetion listed on AIM in 2007 at 151p a share, raising £30.5m to value the business at just over £112 million. To leave AIM 75 per cent of shareholders need to vote in favour - Jetion has already secured undertakings from 79.7 per cent so it would appear to be a done deal. Investors have been offered a slight crumb of comfort in that Jiezhen Yang, the majority shareholder, is offering 83p a share in cash. This compares to a current market price of 79p
http://www.growthcompany.co.uk/news/1611933/jetion-to-quit-a…
22/03/2011 Miles Nolan
In what appears to be an increasing trend, China based solar power specialist Jetion Solar (JHL) has announced it is to leave AIM next month. So far 25 companies have delisted from the junior market this year. As is common, Jetion blames the costs of listing, poor liquidity and the difficulty in raising funds for its decision to leave.
Jetion manufacturers solar cells that are made from processed solar-grade silicon wafers that convert sunlight to electricity. Only in January the firm boasted of trading ahead of market expectations thanks to strong demand for its products. However, to survive in a competitive market, Jetion argues it will need to boost capacity from the current 200MW to at least 1000MW.
In the six months to 30 June sales lit up to $146.7 million (2009: $55.9 million) as pre-tax profits leapt 50 per cent to $4.8m. The progress was largely driven by increased interest from overseas markets, and the benefit of new production lines coming on stream.
Jetion listed on AIM in 2007 at 151p a share, raising £30.5m to value the business at just over £112 million. To leave AIM 75 per cent of shareholders need to vote in favour - Jetion has already secured undertakings from 79.7 per cent so it would appear to be a done deal. Investors have been offered a slight crumb of comfort in that Jiezhen Yang, the majority shareholder, is offering 83p a share in cash. This compares to a current market price of 79p
http://www.growthcompany.co.uk/news/1611933/jetion-to-quit-a…
Antwort auf Beitrag Nr.: 41.269.561 von ibmisout am 26.03.11 03:29:48Hi
bei einem Sequenze out muß man doch nicht verkaufen........
Bei IDS Scheer gab es auch ein Abfindungsangebot das ich damals nicht angenommen hatte.
Später stand der Kurs deutlich höher als das Angebot.
Gruß
qc
Bei Pacific Internet war es so das man einfach den Betrag bekommen hat der festgesetzt wurde und fertig aus Schluß.....
bei einem Sequenze out muß man doch nicht verkaufen........
Bei IDS Scheer gab es auch ein Abfindungsangebot das ich damals nicht angenommen hatte.
Später stand der Kurs deutlich höher als das Angebot.
Gruß
qc
Bei Pacific Internet war es so das man einfach den Betrag bekommen hat der festgesetzt wurde und fertig aus Schluß.....
Bisj etzt sehe ich das so. Es besteht die Möglichkeit im Mai die Aktie für 83 Pence über die Börse zu verkaufen. Oder man behält sie und bekommt dann ein Zertifikat zugeschickt das den Anteil an der Firma dokumentiert. Es wird dann vermutlich eine Kapitalerhöhung in Honk Kong plaziert und die wird mit Sicherheit in der Nähe des Buchwertes sein. Warum sollte sonst Ms. Yang 83 Pence bieten. Es wird auf jedenfall spannend. Ermutigende Worte von Jetion können wir jedenfalls nicht erwarten, die wollen das wir aussteigen. In Deutschland dürfte es nur ein paar Aktionäre sein. Aber im Inselaffenstaat schein die sehr ängstlich zu sein und verkaufen derzeit für 78pence.
Hat jemand das erste Angebot angenommen ?
Hat jemand vor zu klagen ?
Hat jemand vor zu klagen ?
Antwort auf Beitrag Nr.: 41.691.690 von ostrue am 23.06.11 20:07:17Hallo,
ich habe nicht angenommen und warte mal ab auf das nächste Angebot.....
Infos bitte per BM
Gruß
qc
ich habe nicht angenommen und warte mal ab auf das nächste Angebot.....
Infos bitte per BM
Gruß
qc
es kommt kein Angebot mehr ! Es gab 2 und jetzt sollten die eigentlich eingezogen werden.
mein Erinnerungsstück ist ausgebucht...
Hallo die Stücke sind bei mir auch raus.....
Irgendjemand hier der sein Geld noch nicht bekommen hat, oder klagen will ? Wir haben glaube ich ganz gute Chancen, die Rechtsverletzungen
von Jetion scheinen massiv zu sein. Kommunikation bitte nur über Boardmail
von Jetion scheinen massiv zu sein. Kommunikation bitte nur über Boardmail
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