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Last $8.90 USD
Change Today 0.00 / 0.00%
Volume 2.0M
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As of 8:04 PM 08/31/15 All times are local (Market data is delayed by at least 15 minutes).

trina solar ltd-spon adr (TSL) Key Developments

Trina Solar Limited Reports Unaudited Consolidated Earnings and Operating Results for the Second Quarter Ended June 30, 2015; Provides Operating Guidance for the Third Quarter and Revises Operating Guidance for the Full Year of 2015

Trina Solar Limited reported unaudited consolidated earnings results for the second quarter ended June 30, 2015. For the quarter, the company reported net revenues of $722,942,000 compared to $519,425,000 a year ago. Operating income was $60,683,000 compared to $15,699,000 a year ago. Income before income taxes was $54,806,000 compared to $12,472,000 a year ago. Net income attributable to the company was $40,911,000 or $0.42 per diluted ADS compared to $10,728,000 or $0.14 per basic and diluted ADS a year ago. In the second quarter of 2015, the company connected to the grid a total of 121.3 MW PV power projects, including 31.3 MW DG projects and 90 MW utility projects in China, compared to the Company's guidance of 65 MW to 70 MW. The 90 MW utility PV power projects consist of a 70 MW project in Yunnan, which is a portion of a total 300 MW project, and another 20 MW project in Xinjiang. The 31.3 MW of DG projects consist of 13.7 MW in Shandong, 14.5 MW in Zhejiang and 3.1 MW in Shanghai. In addition, the company connected to the grid a total of 53.9 MW utility. As of June 30, 2015 the Company has a total of 358.5 MW downstream operating assets that are generating electricity power, including 336.3 MW in China, 4.2 MW in the U.S., and 18.0 MW in Europe. The 336.3 MW projects in China consist of 300.0 MW utility projects and 36.3 MW DG projects. The company raised its full-year guidance of total PV module shipments to between 4.9 GW to 5.1 GW, from original guidance of 4.4 GW to 4.6 GW, of which 700 MW to 800MW will be shipped to the Company's downstream projects. The total shipment volume represents an increase of 33.9% to 39.3% from 2014. The company reiterates its full-year guidance to connect to the grid between 700 MW and 750 MW of downstream PV power projects across the world, including 30% to 40% of all DG projects in China. The company expects to achieve the following in-house annualized capacities by the end of 2015: ingot production capacity of approximately 2.5 GW, from original guidance of 2.2 GW; wafer capacity of approximately 1.8 GW, from original guidance of 1.7 GW; PV cell capacity of approximately 3.5 GW; and PV module capacity of approximately 4.8 GW. For the third quarter of 2015, the company expects to ship between 1,450 MW and 1,500 MW of PV modules, of which 170 MW to 190 MW will be shipped to the Company's downstream PV projects, for which revenues will not be recognized. In addition, the Company might purchase modules from third party suppliers to meet the module requirement for the downstream projects. The Company expects to connect 180 MW to 200 MW of PV projects to the grid in the third quarter of 2015.

Trina Solar Limited Announces Board Changes

Trina Solar Limited announced that it held its 2015 annual general meeting of shareholders on August 4, 2015. Mr. Jerome Corcoran and Mr. Henry Wai Kwan Chow have retired from the board of directors of the company, effective from August 4, 2015. The Board has approved the following changes to the composition of its audit, compensation and corporate governance and nominating committees, each of which will be effective from August 4, 2015: the audit committee will consist of Mr. Sean Shao, Mr. Liping Qiu and Mr. Qian Zhao, and Mr. Shao has been appointed chairman, the compensation committee will consist of Mr. Qian Zhao, Dr. Yeung Kwok On and Mr. Liping Qiu, and Mr. Zhao will remain as chairman, and the corporate governance and nominating committee will consist of Dr. Yeung Kwok On, Mr. Qian Zhao and Mr. Sean Shao, and Dr. Yeung will remain as chairman.

Trina Solar Limited, Q2 2015 Earnings Call, Aug 18, 2015

Trina Solar Limited, Q2 2015 Earnings Call, Aug 18, 2015

Trina Solar Limited to Report Q2, 2015 Results on Aug 18, 2015

Trina Solar Limited announced that they will report Q2, 2015 results on Aug 18, 2015

Trina Solar Receives UL1500V Certification for its PV Modules

Trina Solar Limited announced that its TSM-PE05A and TS-PE14A polycrystalline modules have received UL1500V certification from Underwriters Laboratories (UL). The UL1500V award certifies that the Modules are allowed to be used in PV systems with a maximum system voltage of 1500V, significantly higher than the existing 1000V of most modules on the market. Furthermore, the 1500V certification demonstrates that the Modules produced by Trina Solar meet higher technical standards and quality requirements. The higher system voltage modules allow customers to design their PV systems with longer string length. It significantly reduces the number of component in the balance of the system (BOS), and reduces the cost per unit of power (USD/W) of BOS. It also boosts the system performance by reducing the system loses.

 

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