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 questions.
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 (Domestic Mobile) |
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.
Elaine Li |
Phone: + 86 25 5276 6696 |
Email: Elaine.li@chinasunergy.com |
Brunswick Group
Hong Kong Ginny Wilmerding Phone: + 852 3512 5000 Email: csun@brunswickgroup.com | Hong Kong Annie Choi Phone: + 852 3512 5000 Email: csun@brunswickgroup.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.
SOURCE China Sunergy Co., Ltd.
