China Sunergy to Announce 2012 Fourth Quarter and Full Year Financial Results
on Friday, April 12, 2013
NANJING, China, March 21, 2013
NANJING, China, March 21, 2013 /PRNewswire/ -- China Sunergy Co., Ltd.
(Nasdaq: CSUN) ("China Sunergy" or the "Company"), a specialized solar cell
and module manufacturer, today announced that it would report its financial
results for the fourth quarter and full year ended December 31, 2012 on
Friday, April 12, 2013, before the market opens in the United States.
China Sunergy's solar product shipments in the fourth quarter of 2012 were
approximately 79MW, compared to the previous guidance of 90MW to 100MW, which
was mainly due to the delay of some shipments to January 2013. The Company
expects its overall gross margin in the fourth quarter of 2012 to be between
negative 3% and negative 4%, compared to previous guidance of low-single-digit
level, mainly as a result of recognizing a non-cash charge of inventory
provision and the decreased average selling prices.
China Sunergy's management will host an earnings conference call on Friday,
April 12, 2013 at 8:00 a.m. Eastern Time (Friday, April 12, 2013 at 8:00
p.m.Beijing/Hong Kong time). The management team will be on the call to
discuss financial highlights of the fourth quarter and full year 2012, provide
their business outlook for first quarter and full year 2013, and answer
To access the conference call, please dial:
United States toll-free: +1 866 519 4004
International: + 65 6723 9381
Singapore: 6723 9381
China: 800 819 0121 (Domestic) /400 620 8038
Hong Kong: +852 2475 0994
Please ask to be connected to Q4 2012 China Sunergy Co., Ltd. Earnings
Conference Call and provide the following passcode: 17057096.
China Sunergy will also broadcast a live audio webcast of the conference call.
The broadcast will be available for 7 days by visiting the "Investor
Relations" section of the Company's web site at http://www.chinasunergy.com .
Following the earnings conference call, an archive of the call will be
available by dialing:
United States toll-free: +1 855 452 5696
International: +61 2 8199 0299
The passcode for replay participants is: 17057096. The telephone replay also
will be archived on the "Investor Relations" section of the Company's website
for seven days following the earnings announcement.
About China Sunergy Co., Ltd.
China Sunergy Co., Ltd. (NASDAQ:CSUN) designs, manufactures and delivers high
efficiency solar cells and modules to the world from its production centers
based in China and Turkey. China Sunergy also invests in high potential solar
projects. Founded in 2004, China Sunergy is well known for its advanced solar
cell technology, reliable product quality, and excellent customer service.
For more information, please visit http://www.chinasunergy.com .
Investor and Media Contacts:
China Sunergy Co., Ltd.
Phone: + 86 25 5276 6696
Hong Kong Hong Kong
Ginny Wilmerding Annie Choi
Phone: + 852 3512 5000 Phone: + 852 3512 5000
Email: firstname.lastname@example.org Email: email@example.com
Safe Harbor Statement
This announcement contains forward-looking statements within the meaning of
the safe harbor provisions of the Private Securities Litigation Reform Act of
1995. All statements other than statements of historical facts in this
announcement are forward-looking statements. These forward-looking statements
are based on current expectations, assumptions, estimates and projections
about the Company and the industry, and involve known and unknown risks and
uncertainties, including but not limited to, the Company's ability to raise
additional capital to finance the Company's activities; the effectiveness,
profitability, and the marketability of its products; litigations and other
legal proceedings, including any decisions by the US International Trade
Committee and Department of Commerce on the petitions filed; the economic
slowdown in China and elsewhere and its impact on the Company's operations;
demand for and selling prices of the Company's products, execution of our
strategy to expand into downstream solar power businesses, the future trading
of the common stock of the Company; the ability of the Company to operate as a
public company; the period of time for which its current liquidity will enable
the Company to fund its operations; the Company's ability to protect its
proprietary information; general economic and business conditions; the
volatility of the Company's operating results and financial condition; the
Company's ability to attract or retain qualified senior management personnel
and research and development staff; future shortage or availability of the
supply of raw materials; impact on cost-competitiveness as a result of
entering into long-term arrangements with raw material suppliers and other
risks detailed in the Company's filings with the Securities and Exchange
Commission. The Company undertakes no obligation to update forward-looking
statements to reflect subsequent occurring events or circumstances, or to
changes in its expectations, except as may be required by law. Although the
Company believes that the expectations expressed in these forward looking
statements are reasonable, it cannot assure you that its expectations will
turn out to be correct, and investors are cautioned that actual results may
differ materially from the anticipated results.
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