Apollo Solar Energy - CdTe-Lieferant? - 500 Beiträge pro Seite

eröffnet am 23.11.08 17:00:22 von
neuester Beitrag 09.05.12 13:21:37 von

ISIN: US0376371052 | WKN: A0X8N6
0,037
06.02.15
Stuttgart
0,00 %
0,000 EUR

Beitrag schreiben

Begriffe und/oder Benutzer

 

Avatar
23.11.08 17:00:22
Apollo Solar Energy Inc. Announces Completion of Phase I Solar Photovoltaic Industry Park Construction
Friday November 21, 8:58 am ET

CHENGDU, China, Nov. 21 /PRNewswire-FirstCall/ -- Apollo Solar Energy, Inc. (OTC Bulletin Board: ASOE; "Apollo Solar Energy" or "the Company"), a leading vertically integrated miner, refiner and producer of tellurium (Te) and high-purity tellurium based metals for specific segments of the electronic materials market in the People's Republic of China ("PRC"), today announced that in October 2008, it completed its Phase I construction of the plant which started on April 8, 2007. Production has begun immediately after the completion of the construction. The Company hosted its first Annual Autumn Sales Event between October 30 - November 2, 2008 at the Chengdu Homeland Hotel, Sichuan province, China.

ADVERTISEMENT
Phase I of the construction was a 15 hectares Solar Photovoltaic Industry Park, a new core material of solar photovoltaic cell manufacturing base located in southwest airport economic development zone, Shuangliu, Chengdu, China, that accounted for $20 million of investment, included a factory of 65,000 square meters and 300 sets of manufacturing equipment in operations. With the state of art equipments, the Company has the capacity to produce 400 tons of high-purify photovoltaic cell material and 42 other types of electronic materials.

Right after the completion of Phase I construction, the Company hosted its first Annual Autumn Sales Event from October 30 - November 2, 2008. During the 4 days sales event, 84 customers, including CERAC, visited Apollo Solar Energy and contracts in the amount $3.63 million were signed between the Company and our customers. Letters of Intents to purchase our products in the next 3 years were also signed.

About Apollo Solar Energy, Inc.

Apollo Solar Energy, Inc., through its wholly owned subsidiary, Sichuan Apollo Solar S&T Co., Ltd (the Company), is primarily engaged in mining, refining and producing of tellurium (Te) and high-purity tellurium based metals for specific segments of the electronic materials market. The Company's products include CdTe thin-film compounds, CIGS thin-film compounds, Ultra- high purity metals, commercial-purity metals.
Avatar
23.11.08 17:01:19
Avatar
23.11.08 17:36:13
Wincroft, Inc. Signs Letter of Intent to Acquire Apollo Solar Energy, Inc.
Tue Jul 15, 2008 9:25am EDT

Email | Print |
Share
| Reprints | Single Page | Recommend (0)
[-] Text [+]

NEW YORK, July 15 /Xinhua-PRNewswire-FirstCall/ -- Wincroft, Inc. (OTC
Bulletin Board: WCRF) ("WCRF") (the "Company") has signed a Letter of Intent
to acquire Apollo Solar Energy, Inc., a Delaware corporation ("ASE") that
indirectly owns 100% of the equity of Sichuan Apollo Solar Science and
Technology Co. Ltd. ("Apollo"), a wholly foreign-owned enterprise (WOFE)
organized under the laws of the People's Republic of China.
Apollo is engaged in research and development of the next generation
cadmium telluride (CdTe)-based thin-film solar cell. Apollo also has
exclusive exploration and mining rights to Dashuigou Mine in Shimian County,
Sichuan Province, China, which it believes to be the world's only independent
tellurium (Te) & bismuth (Bi) mine so far found.
Apollo's current core business is mining of tellurium and bismuth ores,
extraction of high-purity metals, compounds, and target materials for
thin-film solar cells, cell modules and solar electronic products. Apollo is
a materials supplier to major CdTe and CIGS based solar cell manufacturers.
The closing of the acquisition transaction is contingent on execution of
formal binding agreements, approval from the Board of Directors of WCRF and
ASE, as well as the satisfactory exchange of due diligence materials between
the two parties.
"We expect this acquisition to substantially improve shareholder value,"
stated Ms. Xiaojin Wang, CEO of WCRF. "We see Apollo as a leader in China in
the R&D of the next generation CdTe based thin-film solar cell and currently
specializes in the mining and refining of high purity materials used in a
broad range of industries, notably the photovoltaic industry. We believe
there is huge opportunity in this field for the company."
"If the merger closes, Apollo will have the potential to access the U.S.
public market for both awareness and capital, which should assist in reaching
our goals," stated Mr. Hou Renyi, Chairman and CEO of Apollo. "We aspire to
build an integrated production solution for tellurium based thin-film
photovoltaic cells in China. Apollo plans to pursue this strategic development
goal through active participation in the capital markets," added Mr. Hou.
About Wincroft, Inc. (the "Company")
Wincroft, Inc. is a Nevada corporation which has had no operating business
since April 2000.
About Sichuan Apollo Solar Science and Technology Co. Ltd. ("Apollo")
Apollo, headquartered in Chengdu, Sichuan Province, China, is a wholly
foreign-owned enterprise (WOFE). Apollo is a leader in China in the R&D of
the next generation CdTe based thin-film solar cell and currently specializes
in the mining and refining of high purity materials used in a broad range of
industries, notably the photovoltaic industry.
Avatar
23.11.08 17:37:46
Contact Details
Sichuan Apollo Solar Science & Technology Co., Ltd.
Company Name: Sichuan Apollo Solar Science & Technology Co., Ltd.
Company Address: No. 485 3rd Tengfei Road Shuangliu Southwest Airport Economic Development Zone Shuangliu , Chengdu, Sichuan, China
City/Town: Chengdu
Province/State: Sichuan
Country/Region: China
Zip/Postal Code: 610207
Phone Number: Please sign in to view contact details
Fax Number:
Homepage:
Mobile:
Contact Person (Department): Mr. Tom Chen(Sales Dept.)
Avatar
16.01.09 04:45:58
Jesse Pichel stellte im 5N-Plus Call vorgestern eine Reihe Fragen zu Apollo.

=>vielleicht doch ein bißchen ernst zu nehmen
Avatar
04.02.09 12:36:13
Fong Named Chief Financial Officer At Apollo Solar Energy
in News Departments > People
by SI Staff on Tuesday 03 February 2009
email the content item print the content item

Apollo Solar Energy Inc., a vertically integrated miner, refiner and producer of tellurium and high-purity tellurium-based metals for specific segments of the global electronic materials market, has appointed Dexter Fong chief financial officer position. Fong will also serve as a member of the company's board of directors.

Fong has over 23 years of financial and executive experience working with private and public Chinese companies. Most recently, he served as executive vice president of corporate development of FUQI International Inc. a designer of high-quality precious metal jewelry in China.

Prior to this role, he served as a managing partner of Iceberg Financial Consultants, a financial advisory firm based in China that advises Chinese clients in capital raising activities in the U.S.

SOURCE: Apollo Solar Energy Inc.
Avatar
04.02.09 14:29:11
...damit dürfte Apollo gemeint sein:


Berlin, 29.01.2009

Am Rande des 5. Deutsch-Chinesischen Forums für wirtschaftliche und technologische
Zusammenarbeit, das am 29.01.2009 im Beisein der Deutschen Bundeskanzlerin Dr. Angela
Merkel und des Chinesischen Ministerpräsidenten Wen Jiaobao in Berlin stattfand,
unterzeichnete das Kelkheimer Solarunternehmen CTF Solar GmbH eine Absichtserklärung, nach
der sich ein chinesisches Bergbauunternehmen im Zuge einer Kapitalerhöhung an dem
Kelkheimer Unternehmen beteiligen will. Dieses Bergbauunternehmen verfügt in China über
eines der weltweit größten erschlossenen Vorkommen von Tellur, dem wesentlichen Rohstoff für
CTF Solar.


CTF Solar plant den Aufbau einer Fabrik für die Produktion von Dünnschicht-Solarmodulen. Dabei
greifen die Kelkheimer auf ein speziell entwickeltes Dünnschichtverfahren zurück, das sich
gegenüber Wettbewerbsprodukten durch besonders niedrige Produktionskosten auszeichnet.
CTF Solar wird die Fabrik in der Nähe von Erfurt mit einer Jahreskapazität von 50 MWP
entsprechend ca. 735.000 m2
Solarmodulen errichten. Nach dem für Ende Februar geplanten
Abschluss der Planungsarbeiten durch CTF Solar soll unverzüglich mit dem Bau der Solarfabrik
begonnen werden, die im Laufe des Jahres 2010 den Produktionsbetrieb aufnehmen wird.
Avatar
23.03.09 10:04:25
22.03.2009 18:00
Märkische Oderzeitung: Vorabmeldung Apollo Solar aus China plant Investition in Brandenburg
Frankfurt/Oder (ots) - Frankfurt (Oder) Das chinesische Unternehmen Apollo Solar (News) plant eine Investition in Brandenburg. "Die Grundsatzentscheidung ist gefallen", sagte Wirtschaftsminister Ulrich Junghanns (CDU) gestern nach einem Firmenbesuch in Chengdu-Shuangliu der Märkischen Oderzeitung. Apollo Solar produziert aus Bodenschätzen, wie beispielsweise Tellurid, hochreine Materialien für die Solar- und Halbleiterindustrie. Apollo Solar besitzt in der Provinz Sichuan die einzige Tellur-Mine weltweit. Die Chinesen wollen von Brandenburg aus mit Tellurid-Reinststoffen den europäischen Markt beliefern. Junghanns sieht seine Gespräche als unterstützend für den notwendigen Entscheidungsprozess zwischen Unternehmen und öffentlichen Behörden in China. "Wir sind bei der Vorbereitung dieser Investition einen wesentlichen Schritt vorangekommen", sagte er. Dem Vernehmen nach soll auch Frankfurt als Standort im Gespräch sein.

Originaltext: Märkische Oderzeitung Digitale Pressemappe: http://www.presseportal.de/pm/55506 Pressemappe via RSS : http://www.presseportal.de/rss/pm_55506.rss2

Pressekontakt: Märkische Oderzeitung CvD Telefon: 0335/5530 563 cvd@moz.de
Avatar
06.05.09 08:18:14
Apollo Solar Energy reports full year 2008 financial results


Posted by Debasish Choudhury on 16 April 2009 at 12:39


The Board of Directors of Apollo Solar Energy, Inc., a leading vertically integrated miner, refiner and producer of tellurium (Te) and high-purity tellurium based metals for specific segments of the global electronic materials market, announces financial results for the full year ended December 31, 2008.

For the twelve months ended December 31, 2008, net sales increased 248% to $6.9 million compared to $2.0 million for the previous year.

Gross profit for 2008 increased 164% to $1.8 million compared to $1.1 million in the prior year.

Total operating expenses for 2008 were $1.5 million, or 21.7% of net sales, compared to $0.2 million, or 9.7% of net sales, in the prior year.

Operating profit for 2008 was $0.29 million compared to $0.49 million in the prior year.

Net income for 2008 was $18,592, or $0.001 per diluted share, compared to $493,922, or $0.01 per diluted share in the prior year. "We are excited about our operating results for 2008, especially in light of the current economic conditions. It has been a challenging year as we had the earth quake in May that in addition to being devastating, stopped all our production. We were also in transition for a majority of the year, building a new production facility and moving from the old production facility to the new facility. We are now well positioned to take advantage of this modern facility and make use of the capacity to produce more products to sell to our customers," commented Mr. Hou Renyi, CEO and Chairman of Apollo Solar Energy, Inc.

On April 10, the Company signed a variable interest entity agreement ("VIE") with Sichuan Xinju Mineral Resources Development Corporation and certain of its shareholders holding a majority of its voting stock. Under the terms of the VIE, the Company was granted the exclusive exploration rights to the Dashuigou area and mining rights to the tellurium mine in Majiagou owned by Xinju in accordance with a license granted by the Chinese government, which extends through January, 2013, subject to potential renewal thereafter.

Commenting on the VIE, Mr. Hou said: "We are extremely pleased with the VIE agreements. They give us access to another tellurium mine. We intend to source 60 to 70% of tellurium from these mines by 2010 and this will put us in a very competitive cost position. The exploration rights in the Dashuigou area assigned to us through the VIE will allow us to explore potential deposits of tellurium in the area as well."
Avatar
06.05.09 08:57:47
Antwort auf Beitrag Nr.: 37.104.586 von R-BgO am 06.05.09 08:18:14Die scheinen ernsthaft unterwegs zu sein.

FSLR wird als größter Kunde genannt. Leider nicht in D gehandelt.
Avatar
16.05.09 14:57:02
.05.2009 22:02
Apollo Solar Energy, Inc. Reports First Quarter 2009 Financial Results

CHENGDU, China, May 15 /PRNewswire-Asia-FirstCall/ -- The Board of Directors of Apollo Solar Energy, Inc. (News), (OTC Bulletin Board: ASOE; "Apollo Solar Energy" or "the Company"), a leading vertically integrated miner and refiner of tellurium (Te) and high-purity tellurium based metals for specific segments of the global electronic materials market, today announced financial results for the first quarter ended March 31, 2009.

Revenue for the first quarter of 2009 increased 21% to $2.3 million from $1.9 million in the first quarter of 2008.

Gross profit for the first quarter of 2009 decreased 37% to $0.5 million compared to $0.8 million for the same period in the prior year. The decrease in gross profit was primarily attributable to the increase in cost of raw materials, labor cost, and the change in product mix.

Operating expenses in the first quarter of 2009 increased to $1.1 million compared to $0.2 million in the same period of the prior year. This increase was a result of higher administrative expenses required to support a growing revenue base, as well as professional fees incurred as a publicly listed company, options granted and an increase in depreciation expense.

Operating loss for the first quarter of 2009 was $0.55 million compared to profit of $0.62 million in the prior year.

Net loss for the first quarter of 2009 was $655,332, or $0.1 per diluted share, compared to net income of $475,369 or $0.1 per diluted share in the prior year.

"We are satisfied with the results for the first quarter of 2009. The latter part of 2008 and into 2009 has been a transition period for Apollo Solar Energy, and we, like other firms have weathered a difficult US market. During this period however, we have built upon our solid asset base of producing tellurium mines and our new refining facility in Chengdu, with the addition of seasoned executives, board members and advisors. Our results further support our premise that owning the tellurium feedstock in CdTe production is essential for the long term viability of any refiner, particularly in the thin film solar industry. In addition, our recently completed technical review by Behre Dolbear&Company of the Dashuigou and Majiagou mines provides a solid base of support to continue with the exploration and mining of these properties," commented Mr. Hou Renyi, CEO and Chairman of Apollo Solar Energy, Inc. "We continue to pursue innovative technologies and processes to be a leading vertically integrated miner and refiner of tellurium (Te) and high-purity tellurium based metals for the global electronic materials market."
Avatar
22.05.09 10:09:59
Habe comdirect inzwischen dazu bewegt, die Festlegung einer WKN anzustoßen:

A0X8N6
Avatar
23.05.09 08:15:13
Apollo Solar Energy, Inc. Reports First Quarter 2009 Financial Results

* On Friday May 15, 2009, 4:00 pm EDT

*
Buzz up!
* Print

Related:

* Apollo Solar Energy, Inc.

CHENGDU, China, May 15 /PRNewswire-Asia-FirstCall/ -- The Board of Directors of Apollo Solar Energy, Inc., (OTC Bulletin Board: ASOE; "Apollo Solar Energy" or "the Company"), a leading vertically integrated miner and refiner of tellurium (Te) and high-purity tellurium based metals for specific segments of the global electronic materials market, today announced financial results for the first quarter ended March 31, 2009.
Related Quotes
Symbol Price Change
ASOE.OB 6.50 0.00
Chart for APOLLO SOLAR ENERGY
{"s" : "asoe.ob","k" : "c10,l10,p20,t10","o" : "","j" : ""}

Revenue for the first quarter of 2009 increased 21% to $2.3 million from $1.9 million in the first quarter of 2008.

Gross profit for the first quarter of 2009 decreased 37% to $0.5 million compared to $0.8 million for the same period in the prior year. The decrease in gross profit was primarily attributable to the increase in cost of raw materials, labor cost, and the change in product mix.

Operating expenses in the first quarter of 2009 increased to $1.1 million compared to $0.2 million in the same period of the prior year. This increase was a result of higher administrative expenses required to support a growing revenue base, as well as professional fees incurred as a publicly listed company, options granted and an increase in depreciation expense.

Operating loss for the first quarter of 2009 was $0.55 million compared to profit of $0.62 million in the prior year.

Net loss for the first quarter of 2009 was $655,332, or $0.1 per diluted share, compared to net income of $475,369 or $0.1 per diluted share in the prior year.

"We are satisfied with the results for the first quarter of 2009. The latter part of 2008 and into 2009 has been a transition period for Apollo Solar Energy, and we, like other firms have weathered a difficult US market. During this period however, we have built upon our solid asset base of producing tellurium mines and our new refining facility in Chengdu, with the addition of seasoned executives, board members and advisors. Our results further support our premise that owning the tellurium feedstock in CdTe production is essential for the long term viability of any refiner, particularly in the thin film solar industry. In addition, our recently completed technical review by Behre Dolbear & Company of the Dashuigou and Majiagou mines provides a solid base of support to continue with the exploration and mining of these properties," commented Mr. Hou Renyi, CEO and Chairman of Apollo Solar Energy, Inc. "We continue to pursue innovative technologies and processes to be a leading vertically integrated miner and refiner of tellurium (Te) and high-purity tellurium based metals for the global electronic materials market."

About Apollo Solar Energy, Inc.

Apollo Solar Energy, Inc., through its wholly owned subsidiary, Sichuan Apollo Solar S&T Co., Ltd., is primarily engaged in the mining and refining of tellurium (Te) and high-purity tellurium based metals for specific segments of the global electronic materials market. The Company's products include CdTe thin-film compounds, CIGS thin-film compounds, Ultra-high purity metals, and commercial-purity metals.
Avatar
17.08.09 07:44:54
PART III — NARRATIVE

State below in reasonable detail why Forms 10-K, 20-F, 11-K, 10-Q, 10-D, N-SAR, N-CSR, or the transition report or portion thereof, could not be filed within the prescribed time period.

The Registrant is unable to file its Quarterly Report on Form 10-Q for the second quarter ended June 30, 2009, within the prescribed time period because the information required for an accurate and full completion of the report could not be provided within the prescribed time period without unreasonable effort or expense. The principal reason for the delay in filing the Quarterly Report on Form 10-Q is the Registrant's consideration of its analysis and disclosures regarding its variable interest entity, or the VIE. Additional time is needed for the Registrant to compile and complete all necessary financial information reflecting the consolidation of the VIE. The Registrant expects to file its Quarterly Report on Form 10-Q as soon as practicable, and in no event later than the fifth calendar day following the prescribed due date.
Avatar
18.08.09 14:56:35
immer noch ohne Webseite...

Company Information
Apollo Solar Energy, Inc. (Apollo Solar), formerly Wincroft, Inc., is a vertically integrated miner, and refiner of tellurium (Te) and high-purity tellurium-based metals for specific segments of the electronic materials market. The Company is primarily focused on the production of Te-based compounds used to produce thin-film solar cells, cell modules and solar electronic products. The tellurium used in its products will be primarily sourced from its wholly owned Dashuigou mine located in Sichuan Province, China. In addition, the Company will source tellurium from another mine in Shimian, Majiagou, through a variable interest entity agreement (VIE) with Sichuan Xinju Mineral Resources Development Corporation. Apollo Solar's operations are based in a 650,000 square foot facility in Chengdu, Sichuan Province, the People's Republic of China (PRC).
Apollo Solar Energy Inc.
No. 485 Tengfei Third Shuangliu Southwest Airport Economic Development Zone Chengdu SIC 610207 China
Phone: +86 (212) 232-0120
Fax: n.a.
Avatar
21.08.09 10:43:24
20.08.2009 14:02
Apollo Solar Energy, Inc. Reports Second Quarter 2009 Financial Results

CHENGDU, China, Aug. 20 /PRNewswire-Asia-FirstCall/ -- The Board of Directors of Apollo Solar Energy, Inc., (OTC Bulletin Board: ASOE; "Apollo Solar Energy" or "the Company"), a leading vertically integrated miner and refiner of tellurium (Te) and high-purity tellurium based metals for specific segments of the global electronic materials market, today announced financial results for the second quarter ended June 30, 2009.

Second quarter of 2009:

Revenue for the second quarter of 2009 increased 48% to $1.7 million from $1.1 million in the second quarter of 2008.

Gross profit for the second quarter of 2009 increased 155% to $0.4 million compared to $0.2 million for the same period in the prior year. The increase in gross profit was primarily attributable to our improved tellurium processing techniques and stable demand that led to continual production and higher efficiency.

Operating expenses in the second quarter of 2009 increased to $0.8 million compared to $0.4 million in the same period of the prior year. This increase was a result of higher administrative expenses required to support a growing revenue base, as well as professional fees incurred as a publicly listed company, stock based compensation expenses for options granted and an increase in depreciation expense.

Operating loss for the second quarter of 2009 was $0.4 million compared to profit of $0.2 million in the prior year.

Net loss for the second quarter of 2009 was $0.5 million, or $0.02 per diluted share, compared to net loss of $0.2 million or $0.01 per diluted share in the prior year.

First six months of 2009:

Revenue for the first six months of 2009 increased 31% to $4.0 million from $3.1 million in the same period of 2008.

Gross profit for the first six months of 2009 decreased 5.9% to $0.9 million compared to $0.9 million for the same period in the prior year. The decrease in gross profit was primarily attributable to the increase in cost of raw materials, labor cost, and the change in product mix.

Operating expenses in the first six months of 2009 increased to $1.8 million compared to $0.6 million in the same period of the prior year. This increase was a result of higher administrative expenses, as well as professional fees incurred as a publicly listed company, stock based compensation expenses for options granted and an increase in depreciation expense.

Operating loss for the first six months of 2009 was $0.9 million compared to profit of $0.4 million in the prior year.

Net loss for the first six months of 2009 was $1.1 million, or $0.01 per diluted share, compared to net income of $0.2 million or $0.1 per diluted share in the prior year.

"We are satisfied with the results for the second quarter of 2009. The first part of 2009 has been a difficult period for Apollo Solar Energy, and we, like other firms have weathered a difficult US market. During this period, however, we are still able to maintain our sales of tellurium products. Our results further support our premise that owning the tellurium feedstock in CdTe production is essential for the long term viability of any refiner, particularly in the thin film solar industry. In addition, our recently completed technical review by Behre Dolbear&Company of the Dashuigou and Majiagou mines provides a solid base of support to continue with the exploration and mining of these properties", commented Mr. Hou Renyi, CEO and Chairman of Apollo Solar Energy, Inc. "We continue to pursue innovative technologies and processes to be a leading vertically integrated miner and refiner of tellurium (Te) and high-purity tellurium based metals for the global electronic materials market".

About Apollo Solar Energy, Inc.

Apollo Solar Energy, Inc., through its wholly owned subsidiary, Sichuan Apollo Solar Science&Technology Co., Ltd., is primarily engaged in the mining and refining of tellurium (Te) and high-purity tellurium based metals for specific segments of the global electronic materials market. The Company's products include CdTe thin-film compounds, CIGS thin-film compounds, Ultra- high purity metals, and commercial-purity metals.

Safe Harbor Statement

The statements contained herein that are not historical facts are "forward-looking statements" within the meaning of Section 21E of the Securities and Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. Such forward-looking statements may be identified by, among other things, the use of forward-looking terminology such as "believes," "expects," "may," "will," "should," or "anticipates," "expect" or the negative thereof or other variations thereon or comparable terminology, or by discussions of strategy that involve risks and uncertainties. In particular, our statements regarding the potential growth of the markets or forecasting financial results are examples of such forward-looking statements. The forward-looking statements include risks and uncertainties, including but not limited to, general economic conditions and regulatory developments, not within our control. The factors discussed herein and expressed from time to time in our filings with the Securities and Exchange Commission could cause actual results and developments to be materially different from those expressed or implied by such statements. The forward-looking statements are made only as of the date of this filing, and we undertake no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances

APOLLO SOLAR ENERGY, INC. CONSOLIDATED BALANCE SHEETS June 30, December 31, 2009 2008 (Unaudited) (Audited) ASSETS Current assets: Cash and cash equivalents $243,318 $4,874,044 Account receivable, net 1,248,370 961,600 Inventories 7,303,613 7,496,477 Value added taxes receivable 5,574 494,387 Purchase deposit 425,521 321,300 Due from related parties 1,503,818 2,313,198 Deferred tax assets 16,427 25,880 Other sundry current assets 101,491 83,001 Total current assets 10,848,132 16,569,887 Property, machinery and mining assets, net 22,600,358 19,549,909 Non-marketable investment 43,919 -- Total Assets $33,492,409 $36,119,796 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Short-term loan $1,947,095 $-- Account payable - trade 573,965 876,221 - construction vendors 2,493,349 2,546,890 Accrued expenses 873,131 959,186 Due to shareholders -- 9,032,382 Total current liabilities 5,887,540 13,414,679 Long-term debt 4,391,943 4,397,215 Due to shareholders 5,831,258 -- Shareholders' equity: Preferred stock, $.001 par value, 25,000,000 shares authorized, 0 shares issued and outstanding at June 30, 2009 and December 31, 2008 -- -- Common stock, $.001 par value, 100,000,000 shares authorized, 44,555,131 issued and outstanding at June 30, 2009 and December 31, 2008 44,555 44,555 Additional paid-in capital 17,575,261 17,347,905 Accumulated deficit (1,501,612) (383,221) Accumulated other comprehensive income 1,263,464 1,298,663 Total shareholders' equity 17,381,668 18,307,902 Total Liabilities And Shareholders' Equity $33,492,409 $36,119,796 APOLLO SOLAR ENERGY, INC. CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) Three months ended Six months ended June 30, June 30, 2009 2008 2009 2008 Sales $1,681,755 $1,135,466 $3,990,374 $ 3,045,173 Cost of sales (1,287,590) (981,218) (3,099,278) (2,098,713) Gross profit 394,165 154,248 891,096 946,460 Operating expenses General and administrative expenses 483,539 254,838 1,251,954 361,506 Stock based compensation 173,082 -- 373,262 -- Selling expenses 51,220 99,704 121,717 158,624 Research and development 38,944 43,193 49,962 45,289 Total Operating Expenses 746,785 397,735 1,796,895 565,419 Operating income (loss) (352,620) (243,487) (905,799) 381,041 Interest income (expenses) (98,771) 3,628 (189,103) 10,703 Income (loss) before income taxes (451,391) (239,859) (1,094,902) 391,744 Provision for income taxes 11,667 2,482 23,488 158,717 Net income (loss) $(463,058) $(242,341) $(1,118,390) $233,027 Other Comprehensive Income Foreign currency translation adjustment $(35,199) $464,322 $(6,270) $(106,278) Comprehensive Income (loss) $(1,153,589) $697,349 $(469,328) $(348,619) Basic and diluted income per common share Basic $(0.02) $0.01 $(0.01) $(0.01) Diluted $(0.02) $0.01 $(0.01) $(0.01) Weighted-average common shares outstanding Basic 44,555,131 44,555,131 44,555,131 44,555,131 Diluted 45,385,131 44,555,131 45,385,131 44,555,131 APOLLO SOLAR ENERGY, INC. CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) Six months ended June 30, 2009 2008 Cash flows from operating activities: Net income (loss) $(1,118,390) $233,027 Adjustments to reconcile net income to net cash used in operating activities: Issuance of options for service 373,262 -- Depreciation 598,367 223,503 Deferred tax assets 9,418 -- Changes in assets and liabilities: Account receivable-trade (287,821) (540,239) Inventory 213,263 (4,929,909) Other sundry current assets (18,581) (207,399) Tax receivable 488,047 -- Advance for purchases (174,461) (334,021) Account payable-trade (301,101) 102,239 Accounts payable - construction (50,469) -- Accrued expenses and other sundry current liabilities (223,704) 429,509 Accrued interests 184,785 -- Net cash used in operating activities (307,385) (5,023,290) Cash flows from investing activities: Non-marketable investment (43,904) -- Purchase of property&equipments (1,011,214) (5,542,889) Government subsidy to purchase of fixed assets 2,019,579 -- Acquisition of land use rights (3,673,545) -- Net cash used in investing activities (2,709,084) (5,542,889) Cash flows from financing activities: Proceeds from short-term borrowings 1,956,358 -- Capital contribution -- 7,146,383 Advance from (payment to) shareholders (3,202,661) 144,775 Advance from (payment to) related party (361,671) 531,613 Net cash provided by (used in) financing activities (1,607,974) 7,822,771 Effect of exchange rate changes on cash and cash equivalents (6,284) 223,996 Net decrease in cash and cash equivalents (4,630,727) (2,519,412) Cash and cash equivalents, beginning of period 4,874,044 2,621,139 Cash and cash equivalents, end of period $243,318 $101,727 Supplemental disclosures of cash flow information: Interest paid $5,163 $-- Income taxes paid $9,862 $--

Apollo Solar Energy, Inc.

CONTACT: Heung Sang Fong, Chief Financial Officer of Apollo Solar
Energy, Inc., +1-559-761-0596


© 2009 PR Newswire
Avatar
26.11.09 07:28:51
24.11.2009 15:46
Apollo Solar Energy, Inc. Announces $9,000,000 Private Placement



CHENGDU, China, Nov. 24 /PRNewswire-Asia-FirstCall/ -- Apollo Solar Energy, Inc., (OTC Bulletin Board: ASOE; "Apollo Solar Energy" or "the Company"), a leading vertically integrated miner and refiner of tellurium (Te) and high-purity tellurium based metals for specific segments of the global electronic materials market, today announced that it has entered into a definitive agreement for the private placement of securities to certain accredited investors, which is expected to result in aggregate gross proceeds to the Company of $9,000,000 at the closing, before payment of placement agent commissions and other offering expenses.

The Private Placement

On November 20, 2009, the Company announced entry into a definitive agreement to sell 9,000,000 shares of its common stock at a purchase price per share of $1.00 for aggregate gross proceeds to the Company of approximately $9,000,000. The closing of the private placement is expected to take place within 60 days following the signing date, provided each party first obtains all required authorizations and approvals. Bengbu Glass Industry Design Institute ("Bengbu"), a subsidiary of publicly listed China National Building Materials Company Limited (3323.HK), will be the sole investor in the private placement. The Company intends to use the net proceeds from the private placement for increasing the Company's tellurium production and general corporate purposes.

"As was previously announced on November 13, 2009, we formed a joint venture with Bengbu and a local Chinese government agency" stated Mr. Hou Renyi, CEO and Chairman of Apollo Solar Energy, Inc. As part of that joint venture, Apollo Solar Energy was able to transfer a long-term loan of RMB 41.3 million or approximately $6,048,344 to the joint venture. In addition, Bengbu will contribute approximately RMB 77 million or approximately $11,276,573 to the joint venture entity. We are very pleased to announce that in addition to the formation of the joint venture, Bengbu has further invested directly in Apollo Solar Energy. We are very pleased to add Bengbu to our growing shareholder list and this investment further validates the company's strategy to become a leader in the mining and refining of tellurium (Te) and high-purity tellurium based metals for specific segments of the global electronic materials market."

McGovernWang LLC acted as the sole financial advisor to the Company with securities placed through Joseph Capital LLC.
Avatar
30.12.09 19:38:44
Apollo JV Starts Trial Ops at Thin-Film Cell Plant

Posted on Dec 28, 2009 | 18:12


Photovoltaic (PV) cell and solar products company Chengdu Zhong Guangdian Solar, a joint venture between Apollo Solar Energy (OTC:ASOE) wholly owned subsidiary Sichuan Apollo Solar Science & Technology, CNBM's Bengbu Industrial Design and Research Institute, and Chengdu Xihang Gangjian Investment, has started trial production at a 5MW-per-annum cadmium telluride (CdTe) thin-film solar cell production line in Shuangliu county, Chengdu, on December 26, Chinanews.com.cn reported. The establishment of the joint venture was announced the same day, the report said. The 5MW solar cell project is scheduled to reach an annual output capacity of 500MW by 2012 and will require a total investment of RMB 4 billion, the report said. The plant is expected to generate sales revenue of RMB 7 billion per year, said the report.
Avatar
18.01.10 12:39:52
Apollo Solar Fujian Sub Signs 200MW PV Contract

Posted on Jan 18, 2010 | 18:01


Apollo Solar Energy's (OTC:ASOE) wholly owned subsidiary Fujian Apollo Precision has signed an agreement to sell a total of 200MW of silicon-based thin-film photovoltaic (PV) modules to a Henan-based client between 2010 and 2012, Apollo Solar announced January 14.

Apollo Solar's joint venture in Chengdu, Sichuan province began trial production of cadmium telluride (CdTe) thin-film solar cells in December.
Avatar
19.03.10 01:52:21
18.03.2010 21:17
Apollo Solar Energy, Inc. to Fund a Three-Year, $1.5 Million Sponsorship of the New Jersey Institute of Technology to Create a New CdTe Solar Material Research Center


NEW YORK, March 18 /PRNewswire-Asia-FirstCall/ -- Apollo Solar Energy, Inc. (OTC Bulletin Board: ASOE; "Apollo" or the "Company"), a leading vertically integrated miner, refiner and producer of tellurium (Te), the core element of thin film solar panels, and high-purity tellurium-based metals for specific segments of the electronic materials market worldwide, operating in the People's Republic of China, today announced that the Company will fund a three-year, $1.5 million dollar sponsorship of the New Jersey Institute of Technology (the "NJIT") to create a new Solar Cell Research Center focused on CdTe semiconductor material investigation.

Pursuant to the terms of the agreement between Apollo and the NJIT, the NJIT will provide available laboratory instruments, equipment and personnel to develop materials and technology that will improve CdTe thin film PV efficiency. As a sponsor, Apollo will have an exclusive option and right of first refusal to obtain a royalty-bearing license on commercially reasonable terms to the NJIT's ownership interest in certain intellectual property resulting from the research center's performance of this agreement.

"Close cooperation between the Company and the NJIT is expected to improve our semiconductor material quality and speed up our new material development," Mr. Renyi Hou, chairman and CEO of Apollo, commented. "Currently, all the world's supply of tellurium is a byproduct of copper, zinc or lead mining, resulting in CdTe source material with significant and uncontrollable amounts of these impurities. Apollo is the sole owner of independent tellurium mines which could supply better materials for the world's CdTe thin film solar cell industry based upon current research. Apollo also has the refining expertise to improve the purity of the mined tellurium. We anticipate that the Apollo - NJIT cooperation will combine the NJIT's semiconductor physics knowledge with Apollo's refining expertise to define the CdTe material properties that may improve the CdTe solar cell efficiency significantly. This, in turn, is expected to help the CdTe solar panel manufacturers to improve the efficiency of their solar panels, and the entire thin film solar panel industry to move forward."

"The advanced research abilities of the Apollo-NJIT Solar Cell Research Center is expected to be a critical element that differentiates our company from other competitors in the same market. The combined group of scientists has already made significant progress in understanding CdTe semiconductor operation," commented Mr. Hou. "We are excited to fund this three-year sponsorship of $1.5 million into the new Solar Cell Research Center of the NJIT because it brings together the unique research skills of the NJIT and the innovative spirit of the Company's R&D team to explore the stunning future of solar energy."

About Apollo Solar Energy, Inc.

Apollo, through its wholly-owned subsidiary, Sichuan Apollo Solar Science&Technology Co., Ltd, is primarily engaged in mining, refining and producing tellurium (Te) and high-purity tellurium-based metals for specific segments of the electronic materials market. The Company's products include CdTe thin-film compounds, CIGS thin-film compounds, ultra-high purity metals and commercial-purity metals.
Avatar
08.04.10 16:55:17
08.04.2010 14:00
Apollo Solar Energy Management Team Visited Leading Institutions in CdTe PV Research
Ads by Google

Batch laminators
of the production of solar modules
in a restricted production area
www.meier-solar-solutions.com

Odersun - PV Module
direkt vom Fachhändler
Made in Germany
www.B5-Solar.de/_Odersun

Solar Photovoltaic panels
250W panel - CE, TUV. In stock now
25 year guarantee -1.69 euro/Watt
www.philadelphia-solar.eu

CHENGDU, China, April 8 /PRNewswire-Asia-FirstCall/ -- Apollo Solar Energy, Inc. (OTC Bulletin Board: ASOE, "Apollo Solar" or the "Company"), a leading vertically integrated miner, refiner and producer of high purity tellurium (Te) and tellurium based metals for the solar photovoltaic (PV) industry and specific segments of the electronic materials market worldwide, in the People's Republic of China, today announced that its management team visited the National Renewable Energy Laboratory (NREL), Colorado State University (CSU), and Colorado School of Mines (CSM) -- three leading institutions in CdTe PV research.

At each of these three institutions, Mr. Renyi Hou, CEO of Apollo Solar, gave presentations of Apollo Solar's tellurium (Te) mines and reported the results of their latest mining investigations. Based on new geographic explorations, new Te sediment deposition layers were found. Mr. Hou estimates that Apollo Solar's tellurium (Te) production capacity will increase dramatically. Tellurium is the core element used in the Cadmium-Telluride (CdTe) thin-film solar PV industry.

The meetings and presentations at NREL in Golden, Colorado were attended by more than thirty top NREL scientists including four research group leaders. Mr. Hou reported, "As a major high purity Te supplier in the world, Apollo Solar expects to provide material and technology that will improve CdTe thin film PV efficiency."

Based upon new theories from scientists at the Apollo-New Jersey Institute of Technology (NJIT) CdTe Solar Research Center, Mr. Hou's report received an enthusiastic response from scientists at the NREL. Scientists expect that the new high purity methods used in Apollo Solar's Te refinery will help solve the practical problems in the CdTe thin-film PV industry and help manufactures, like First Solar Inc. , Apollo Solar's largest US customer, reach higher thin-film PV cell efficiency.

"Scientists of the NREL theory groups for CdTe and silicon will publish two significant joint papers with the Apollo-NJIT CdTe Solar Research Center," said Professor Ken K. Chin, Director of the Apollo-NJIT CdTe Solar Research Center. "They will use Apollo Solar's new high purity materials in their CdTe projects for testing and verification. The Apollo-NJIT CdTe Solar Research Center is preparing the theoretical part of the new methods for the joint paper while the scientists of the NREL are preparing the new ways to process the materials. We expect the new material test report to be completed in the near future."

About Apollo Solar Energy, Inc.

Apollo Solar Energy, Inc., through its wholly owned subsidiary, Sichuan Apollo Solar Science&Technology Co., Ltd, is primarily engaged in mining, refining and producing tellurium (Te) and high-purity tellurium based metals for specific segments of the electronic materials market. The Company's products include CdTe thin-film compounds, CIGS thin-film compounds, ultra-high purity metals and commercial-purity metals.
Avatar
10.04.10 15:09:29
Avatar
19.04.10 17:18:12
19.04.2010 15:21
Apollo Solar Energy Signs a Non-Binding LOI to Build an All-Solar Energy City in Anhui Province, China

CHENGDU, China, April 19 /PRNewswire-Asia-FirstCall/ -- Apollo Solar Energy, Inc. (BULLETIN BOARD: ASOE) ("Apollo Solar" or "the Company"), a leading vertically integrated miner, refiner and producer of high purity tellurium (Te) and tellurium-based metals for the solar photovoltaic (PV) industry and specific segments of the electronic materials market worldwide in the People's Republic of China, today announced the Company has signed a non- binding Letter of Intent with the Ningguo City Municipal Government to enter into a future joint venture that would build and operate the Ningguo-Apollo Solar Energy Community, to be located in Anhui Province, China.

The non-binding Letter of Intent provides Apollo with an opportunity to become a significant shareholder in a future venture with the Ningguo City Investment Company that could demonstrate the cost-efficient use of solar energy on a community-wide scale. In accordance with the non-binding Letter of Intent, Apollo would exclusively manage and operate the construction of Ningguo-Apollo Solar Energy Community. Apollo would become a 51% shareholder of the joint venture, and Ningguo City Investment Company, Chengdu Zhongguang Photoelectric Corporation, and other investors would jointly own 49% of the shares of the venture. The new all-solar energy community will likely cover an area between 30 and 50 square kilometers.

The non-binding Letter of Intent contemplates the building, on a project- by-project basis, of a group of grid-connected solar power stations, economical lighting systems, and solar photovoltaic (PV) industrial parks to showcase a model community neighborhood using photovoltaic/thermal integrated buildings. The parties anticipate the aggregate investment to be made by the joint venture in creating the new community, including the building of a 10 GW grid-connected solar power station, will be between 60-100 billion Chinese Yuan (US $8.5-$14 billion), and will take between 6-8 years to complete.

Apollo believes this project will make Ningguo the first city in China to use solar energy as its primary source, integrating modern environmentally friendly and efficient solar energy, to realize the goal of creating a zero- emission city in China.

"We believe that using clean and renewable energy sources, including solar energy, protects the earth through the restriction of carbon emissions," stated Mr. Renyi Hou, the CEO of the Company. "We also believe that governmental support for solar PV industry, including Cadmium-Telluride (CdTe) thin-film solar cells, will lead to higher wholesale volume production. As a major high-purity Te supplier, Apollo expects to provide material and technology that will improve CdTe thin film PV efficiency."

"Following our entry into another joint venture, in December 2009, with Bengbu Design&Research Institute for Glass Industry ("Bengbu"), a subsidiary of China Construction Material Group, the largest producer of glass material and cement in China, Apollo has become increasingly involved in the development of the solar photovoltaic industry," Mr. Hou commented. "By cooperating with other solar photovoltaic cell producers, we expect to take advantage of our exclusive source of high purity Te, CdTe, and other related photovoltaic materials, to manufacture more effective and more economical solar photovoltaic cells." Mr. Hou also noted, "Our first project of the venture will likely be to build group grid-connected solar energy stations in Ningguo City. If the project is successful, we anticipate extending the all- solar energy model into other cities in China and other countries. We believe the possible expansion of our business to the downstream solar photovoltaic industry will bring additional value to our shareholders."

About Apollo Solar Energy, Inc.

Apollo Solar Energy, Inc., through its wholly owned subsidiary, Sichuan Apollo Solar Science and Technology Co., Ltd, is primarily engaged in mining, refining and producing tellurium (Te) and high-purity tellurium based metals for specific segments of the electronic materials market. The Company's products include CdTe thin-film compounds, CIGS thin-film compounds, ultra- high purity metals and commercial-purity metals.

About Ningguo Municipal City

Ningguo is a county-level city in Anhui Province, China. The city has a population of over 380,000 and covers an area of 2,447 square kilometers. It is centrally located in eastern China with several highways that offer convenient transportation to Shanghai, Nanjing and Hangzhou, within 2 hours driving distance. Ningguo City is expected to be a test model county within the Yuanjiang City Area Industry Transfer Zone, as established by the Chinese government in January 2010, as part of a government strategy designed to encourage technology and industry transfers from the developed east coast of China to the mid-west under-developed areas of China. The Chinese Government is expected to give Ningguo City incentives to develop its solar energy industry and related applications.
Avatar
19.05.10 19:51:20
Apollo Solar Energy to build a 2MW Demo solar power station in Ningguo City, Anhui Province, China


Posted by Debasish Choudhury on 19 May 2010 at 08:00


Apollo Solar Energy, Inc. (Apollo Solar), a refiner and producer of high purity tellurium (Te) and tellurium-based metals for the solar photovoltaic (PV) industry and specific segments of the electronic materials market worldwide, in the People's Republic of China, today announced that the Company has signed an agreement with the Ningguo Municipal Government to build a 2MW demo solar power station in Ningguo City, Anhui Province, China.

According to the agreement, Apollo Solar will invest 60 MM RMB (US $8.75 MM) to build the 2 MW demo solar power station and will be responsible for the construction of the entire project, including planning, design, construction and installation of the solar power station.

The 2MW demo solar power station is expected to become operational in September 2010. The agreement provides for the payment of subsidies to Apollo Solar from central, provincial and local government entities in the PRC for electricity generated by the power station, as follows:

* 2.15 Yuan RMB (US $0.31) per kilowatt hour (kwh) during the first year of operation of the power station;
* 1.70 Yuan RMB (US $0.25) per kwh during the second year of operation of the power station; and
* 1.50 Yuan RMB (US $0.21) per kwh during the third and following years of operation of the power station, in accordance with the rules and regulations of the central government of China.

Apollo Solar believes that the availability of these types of subsidies could make solar power stations profitable and could attract potential investors to invest in commercial solar power stations.

"We are very pleased to sign the agreement with Ningguo Municipal Government to build the 2 MW demo solar power station, the first project of those contemplated by the non-binding letter of intent signed in April between Apollo Solar and the Ningguo Municipal Government" stated Mr. Renyi Hou, the CEO of the Company. "Apollo Solar has purchased 2 MW of thin film solar panels in the US and we expect the shipment to arrive at Ningguo City in mid- June of 2010. We then anticipate completing the installation of the 2 MW of thin film solar panels, and beginning testing of the operation, by the end of September, 2010."

"We believe that governmental support for the solar PV industry, including Cadmium-Telluride (CdTe) thin-film solar cells, could lead to the commercialization of solar power stations. At the Mediterranean Solar Plan Conference on May 11, in Valencia, Spain, the International Energy Agency, IEA, predicted that 20-25% of total electricity supply will come from solar power stations before 2050 if governments continue current subsidy policies for the solar PV industry, though current solar power is far below 1%." Mr. Hou commented. "Apollo Solar plans to procure high quality thin film solar panels with competitive pricing through OEM agreements which we believe will allow us to enter the downstream solar PV industry to build and operate solar power stations."
Avatar
28.05.10 15:21:46
28.05.2010 14:03
Apollo Solar Energy Signs a Non-Binding Collaboration Agreement with China's Largest State-Owned Operator of Wind and Solar Power Plants to Build Solar Power Stations

CHENGDU, China, May 28 /PRNewswire-Asia-FirstCall/ -- Apollo Solar Energy, Inc. (BULLETIN BOARD: ASOE) ("Apollo Solar" or "the Company"), a refiner and producer of high purity tellurium (Te), tellurium-based compounds and other metals for the solar photovoltaic (PV) industry and specific segments of the electronic materials market worldwide, today announced that the Company has entered into a non-binding collaboration agreement with China Energy Conservation Solar Energy Technologies, Inc. ("CECS" or "China Energy Conservation") to build scaled thin-film solar energy power stations.

According to the non-binding collaboration agreement, both parties anticipate working jointly in three ways: first, Apollo Solar intends to provide CECS with thin film solar panels, upon request, on a long-term basis, which panels the parties intend to use in the construction of thin scaled film solar power stations and photovoltaic grid-connected systems; second, the parties intend to work jointly to construct thin scaled film solar energy power stations; and third, CECS intends to acquire the thin film solar energy power stations that may be built independently by Apollo Solar through its separate financing and technology.

"We are very pleased to sign a non-binding collaboration agreement with CECS," Mr. Renyi Hou, the CEO of the Company commented, "CECS is the only solar energy oriented company currently funded by the China Energy Conservation Investment Corporation, a state-owned company responsible for leading the new renewable energy industry by directing development throughout China."

"CECS, a wholly-owned subsidiary of China Energy Conservation Investment Corporation, is the largest operator of wind and solar power stations in China. CECS is in charge of the construction and operation of scaled solar power stations, and is the largest investor and systematic operator of solar photovoltaic technology in China," Mr. Zhao Youmin, senior vice president of CECS commented. "It is our duty to lead the direction of new renewable energy industry in China as a state owned investment corporation. We select Apollo as strategic partner for developing thin film solar power station since Apollo is a pioneer in thin film solar PV section with resource, technologies and network. We expect long term cooperation with Apollo under mutual benefit."

Mr. Hou further commented, "The Chairman of China's State Electricity Corporation, in a recent interview on CCTV News, announced that according to the Chinese government's recent promise to limit emissions, the State Electricity Corporation intends to accelerate the pace of construction of renewable energy sources, including solar power stations and photovoltaic grid-connected systems. The Chairman also estimated that, in his opinion, renewal energy sources, including wind and solar energy, will capture about a 20% share of nationwide energy demand in China by the year 2020."

"Today, renewable energy only accounts for less than 1% of the energy market share in China," Mr. Hou stated, "As a high-purity Te supplier, Apollo Solar expects to provide high-quality solar panel products with competitive pricing through OEM agreements with manufactures. We believe that working with CECS will improve our competitive advantage in our future construction of scaled solar energy power stations. Our management team believes the cooperation with CECS will lay a stable and sustainable base for the Company's future development."

About Apollo Solar Energy, Inc.

Apollo Solar Energy, Inc., through its wholly owned subsidiary, Sichuan Apollo Solar Science and Technology Co., Ltd, is primarily engaged in refining and producing tellurium (Te) and high-purity tellurium-based metals for specific segments of the electronic materials market. The Company's products include CdTe thin-film compounds, CIGS thin-film compounds, ultra-high purity metals and commercial-purity metals. Apollo Solar also expects to be a constructor and operator in future government-funded solar farm projects in China, including a possible 10 GW solar community in Anhui province, China.
Avatar
09.08.10 17:14:27
na ja; kaum Umsatz in Q1:

Three Months Ended March 31, 2010 and 2009

Sales

Sales for the three months ended March 31, 2010 were $1,073,774, compared to the sales of $2,308,619 in the same period in 2009. This decrease of 53.5% was primarily attributable to the global financial crisis and the long lead time of our products. Due to the financial crisis, a significant number of our customers did not place order as planned at the second half of last year, and the long lead time cause a long period of time between the date we received the orders and the time we ship the goods and recognize the revenue. As such, our business volume was reduced for the three months ended March 31, 2010. In addition, the Company’s tighter credit policy to customers and the high degree of concentration on certain customers in the past also contributed to the drop of sales for the three months ended March 31, 2010.

Cost of sales

Cost of sales for the three months ended March 31, 2010 was $839,028, compared to the cost of sales of $1,811,687 for the period ended March 31, 2009. The decrease in dollar amount was 53.7% and was in line with the decrease of sales. The Solar industry is strong globally, which helped stimulate the market for non-ferrous metal materials. As a result, the demand for tellurium material has largely increased, leading to pricing changes. The Company is currently negotiating with its customers, including First Solar, on the price of its products. The products manufactured for First Solar that were not delivered in the first quarter of 2010 are expected to be sold in the near future.

Gross profit

Gross profit for the three months ended March 31, 2010 was $234,746, compared to the gross profit of $496,932 for the period ended March 31, 2009. This represented a decrease of $262,185, or 52.8%, compared to the same period of 2009, which was in line with the decrease of sales. The gross profit margin for the three months ended March 31, 2010 was 21.9%, compared to that of 21.5% in the same period of 2009. The decrease in gross profit was in line with the decrease in sales. Profit margin remained stable as we have developed a relatively mature method of production.

Selling and marketing expenses

For the three months ended March 31, 2010, selling and marketing expenses were $72,101, compared to $70,497 for the same period ended March 31, 2009, representing an increase of 2.3%. In February 2009, we signed an agreement to appoint CERAC as our exclusive agent to distribute our products in North America, excluding First Solar. The exclusive agreement was reduced to a non-exclusive general distributor agreement in September 2009, as guaranteed sales volume fell short, this contributed to the increase of selling expense. In addition, to overcome this difficult time, we increased our expending on marketing, trying to explore and develop new markets, this will not only enhance our sales in the future, but also will improve our position through changing the situation that we were over concentrated on a few customers in the past. Both we believe will bring positive effects on our future sales.

General and administrative expenses

We incurred general and administrative expenses of $1,190,137 for the three months ended March 31, 2010, when compared to that of $968,595 in the same period of 2009, representing an increase of 22.9%. The increase was primarily due to the growth in salary and the option related expense, which has increased $70,501, or 87.4%, and $194,256, or 97% respectively compared to the same period of 2009. The increase of salary was primarily due to additional administrative staff was also added to support our listing functions, and the increase of option related expense was due to the increased number of options issued to senior officers and directors in February and April 2009, expenses of which were only partially or not occurred for the three months ended March 31, 2009.


23

Research and development expenses

For the three months ended March 31, 2010, we incurred R&D expenses of $9,577, compared to $11,018 for the three months ended March 31, 2009. This represents a decrease of 13.1% although the percentage of research and development expenses took of sales has increased from 0.5% to 0.9%. The decrease of absolute amount of spending on research and development expenses was due to the lower salary of R&D employees. In the second quarter of 2009 we reduced headcount of the R&D department but in the third quarter we re-filled the vacancy with same qualified, but lower salary people thanks to the competitive labor supply market at that time. We are committed to the improvement of product quality and the development of new products. We will continue to invest in R&D to ensure our products are of high quality and remain competitive.

Net income/loss

For the three months ended March 31, 2010 we had a net loss of $1,086,159, compared to net loss of $655,332 for the three months ended March 31, 2009. The main reason for decrease in net income in the three months ended March 31, 2010 was a decrease in sales and an increase in costs, primarily in administrative costs representing stock based compensation. Included in the net loss for the three months ended March 31, 2010 was non-cash stock based compensation of $394,436.
Avatar
09.08.10 17:15:01
Antwort auf Beitrag Nr.: 39.952.992 von R-BgO am 09.08.10 17:14:27und stattdessen die Sperenzchen aus den Vorpostings; sieht nicht überzeugend aus...
Avatar
13.09.10 23:57:21
CHENGDU, China, Sept. 13 /PRNewswire-Asia-FirstCall/ -- Apollo Solar Energy, Inc. (BULLETIN BOARD: ASOE) a leading vertically integrated miner, refiner and producer of high purity tellurium (Te) and tellurium based metals for the CdTe/CIGS Thin Film solar photovoltaic (PV) industry and specific segments of the electronic materials market worldwide, today announced that it expects to initiate a large scale project to update and expand its current manufacturing process and production capacity for 5N ultra-high purity tellurium, the core material of CdTe thin film solar PV. The Company intends to initiate the project in October 2010 to support expected increases in customer demand.

The Company plans to acquire additional manufacturing equipment, including sophisticated analyzing technology, and hire skilled technicians and support staff. The updated manufacturing process and expanded capacity is expected to increase Apollo's production capacity by 50% and will support projected annual sales of 5N ultra-high purity tellurium of approximately 180 million RMB (USD 27 million) based on the current market price of 5N high purity Te products.

"Our manufacturing facility and technology have been consistently ranked among the most advanced and efficient in the industry in China," said Mr. Renyi Hou, CEO of the Company. "Now we are planning to scale up our world-class technology to meet the fast increasing demands for Te. With this aggressive build-out plan, we believe we will be well positioned to provide new and existing customers with the fastest option available to get advanced products to market in the volumes they need to ensure success. For Apollo Solar, this expansion represents our next step in becoming a leader in the solar energy industry towards China."

About Apollo Solar Energy, Inc.

Apollo Solar Energy, Inc., through its wholly owned subsidiary, Sichuan Apollo Solar Science&Technology Co., Ltd, is primarily engaged in mining, refining and producing tellurium (Te) and high-purity tellurium based metals for specific segments of the electronic materials market. The Company's products include CdTe thin-film compounds, CIGS thin-film compounds, ultra-high purity metals and commercial-purity metals.
Avatar
22.10.10 23:09:08
CHENGDU, China, Oct. 22 /PRNewswire-Asia-FirstCall/ -- Apollo Solar Energy, Inc. (BULLETIN BOARD: ASOE) ("Apollo Solar" or "the Company"), a leading vertically integrated miner, refiner and producer of high purity tellurium (Te), tellurium-based compounds and other metals for the solar photovoltaic (PV) industry and specific segments of the electronic materials market worldwide today announced that the Company has decided to postpone the previously proposed 10GW Ningguo Solar Power Station Project, including a 2MW Demo Solar Power Station in Ningguo City, due to challenges related to local government support, among other issues.

The Company has made this decision in order to focus on its core business and make necessary strategic adjustments to meet the changing solar industry environments in accordance with its long term growth plan.

About Apollo Solar Energy, Inc.

Apollo Solar Energy, Inc., through its wholly owned subsidiary, Sichuan Apollo Solar Science and Technology Co., Ltd, is primarily engaged in mining, refining and producing high purity tellurium (Te), tellurium-based compounds and other metals for thin film solar PV industry as well as for specific segments of the electronic materials market. The Company's products include CdTe thin-film compounds, CIGS thin-film compounds, ultra- high purity metals and commercial-purity metals.
Avatar
01.12.10 07:50:01
Apollo Solar Energy Announces a Long-Term Purchase Contract from a Major Solar Company


CHENGDU, China, Nov. 16, 2010 /PRNewswire-Asia-FirstCall/ -- Apollo Solar Energy, Inc. (OTC: ASOE) a leading vertically integrated miner, refiner and producer of high purity tellurium (Te) and tellurium based metals for the CdTe/CIGS Thin Film solar photovoltaic (PV) industry and specific segments of the electronic materials market worldwide, today announced that a five-year purchase contract has been signed between Apollo Solar Energy and a major worldwide solar panel manufacturer.

According to the contract, Apollo will provide 5N ultra-high purity tellurium, the core material of CdTe thin film solar PV, with projected sales of approximately 730 million RMB (USD 110 million) over 5 years period.


"We have been cooperating closely for the past five years with this manufacturer and we believe this purchase contract will be a win-win strategy for both of us in the long run." said Dr. Jingong Pan, CEO of the Company.
1 Antwort
Avatar
16.12.10 11:29:08
Antwort auf Beitrag Nr.: 40.620.362 von R-BgO am 01.12.10 07:50:01hiernach handelt es sich um FSLR: http://www.greentechmedia.com/articles/read/first-solar-news…
Avatar
12.04.11 19:07:36
Apollo Solar Energy Releases 10K of 2010 on April 8, 2011


CHENGDU, China, April 11, 2011 /PRNewswire-Asia-FirstCall/ -- Apollo Solar Energy, Inc. (OTCBB: ASOE) ("Apollo" or "the Company"), a vertically integrated miner, refiner and producer of high purity tellurium (Te), tellurium-based compounds and other metals for the solar photovoltaic (PV) industry and specific segments of the electronic materials market worldwide filed its 2010 Annual Report on Form 10-K on April 8, 2011.

Net sales for the year ended December 31, 2010 were $9,594,382, compared to the net sales of $7,813,605 for the year ended December 31, 2009. For the year ended December 31, 2010 the Company had a net loss of $6,198,432, compared to a net loss of $915,571 for the year ended December 31, 2009. The primary reason for the increase in net loss in 2010 was a decrease in gross margin and an increase in costs, primarily in administrative costs representing increased depreciation expenses and professional fees. In 2010, stock based compensation expense was $3,595,196. In 2009 stock based compensation expense was $1,844,233. Excluding stock based compensation expenses, we incurred other general and administrative expenses of $3,375,996 for the year ended December 31, 2010, as compared to expenses of $3,742,275 for the year ended December 31, 2009, representing a decrease of 9.79%. This decrease was primarily due to stricter budget controls introduced by our current management team.

"Although the Company had a net loss for 2010, we believe we made significant progress in 2010. The Company signed a long-term material supply agreement with First Solar, and further penetrated the international market in 2010, with 66.8% of total sales in 2010 representing exports, compared only 13% in 2009. Additionally, we entered into a Joint Research Agreement with the New Jersey Institute of Technology with a joint goal towards developing novel CdTe thin film PV technology," Dr. Jingong Pan, CEO of Apollo Solar, stated, "We believe that our new marketing strategy, which focuses on additional three product lines (material for solar panel glass, material for signal integrated processors and substrate material for LED) will have a positive impact on our future results of operations. In addition, we believe that the Chinese government's increasing support of solar energy developments will increase demand for our products in 2011 and beyond."
Avatar
09.05.12 13:21:37
Thema ist nicht mehr interessant

over-and-out


Beitrag zu dieser Diskussion schreiben


Zu dieser Diskussion können keine Beiträge mehr verfasst werden, da der letzte Beitrag vor mehr als zwei Jahren verfasst wurde und die Diskussion daraufhin archiviert wurde.
Bitte wenden Sie sich an feedback@wallstreet-online.de und erfragen Sie die Reaktivierung der Diskussion oder starten Sie
hier
eine neue Diskussion.