April 7, 2011
Madonna, Avril children, Lincoln Park, Backstreet, Britney Spears, Usher, has wisdom more than power song nice?
Madonna like a virgin, la isla bonita (cover song alizee very spiritual) Don Cry For Me Argentina, Ray Of Light, Hollywood
Avril child innocence, my happy ending, girlfriend, complicated , skate boy
Lincoln Park crawling, in the end, numb, somewhere i belong, breaking the habit
Backstreet I want it that way, As long as you love me , Show me the meaning of being lonely, I l never break your heart, Quit Playing Games (with My Heart)
Britney Spears toxic, baby one more time, oops i did it again, gimme more, every time
Usher yeah, my boo, love in this club, burn, confession (sub part 1 part 2 of)
finally give me against the insurance music (Britney Spears and Madonna collaboration)
Spears: radar, toxic, three, gimme more
Linkin park. Nice new album are huge.
there NUMB Faint.
are many of them large nice.
Avril children My Happy ending, complicated, Alice (Alice in Jade Pool theme song is), I will be, skate boy, innocence, grilfriend
Lincoln Park Numb, new divide (Transformers Theme Song 2 positive), In The End, leave out all the rest (subject Twilight Song)
other insurance quote you listen to “black hidden bunker barrier” is the Lincoln Park leader and lead singer Mike Shinoda good walk through the process of favorable launch
Avril children songs are nice, I super like Lincoln Park are also okay
Briteny the Toxic Man nice ..
Avril When you are gone is just fine to hear ..
Backstreet I want it that way … As long as you love me < br />
boob big songs are nice.
sexy I thought it was representative of Im Slave4U
as toxic gimme more3 is the classic of classics
than force my little private sink TheHookUp I
BoomBoom
TheAnswer
IfUSeekAmy
Outageous
LaceAndLeather MonaLisa
than the force of these sexy
Madonna and Paul give two Celebration Broken
October 8, 2010
footwear word here is boiling shoe factory, our factory professional produce all kinds of Ladies luxury shoes, hope to see site is interested please contact 15986416361 : http://ladies-shoes.net
1.Upper: anti-destructiveness against breakage of the upper
2.Upperandliningtestways: anti-contractility and inside the anti-uppers shortening of the
3.upper: deformability upper deformation
4.upperandAftertowtestwaystearingstrenth uppers and tear strength after the delay.
5.seamstrenth weld strength
6. delamination resistance leafingresistance
7. and partake of the water infiltration of permeabilityandabsorbability
8. rub fastness rubbingfastness
9. color offset colorshift
10.waterproofness waterproof
11.hightemperaturebehavior temperature behavior
12.wearlessness wear
13.uppersoleagglutinate glue on the end of Beijing
sheep / cattle Beijing sheepsuede
May 9, 2011
[spoof] spring shoes, wood bottom sandals, high heels, fashion, fashion boots, stylish high-heeled sandals
Default Category 2011-05-09 13:42:46 0 Comments 0 read Word Count:
footwear word here is boiling shoe factory, our factory specialized in producing all kinds of Ladies luxury shoes, hope Please contact the website is intended to see: http://ladies-shoes.net
1.Upper: anti-destructiveness upper anti-destructive
2.Upperandliningtestways: anti -contractility uppers and lining anti-shrinkage
3.upper: deformability upper deformation
4.upperandAftertowtestwaystearingstrenth uppers and tear strength after the delay.
5.seamstrenth weld strength
6. delamination resistance leafingresistance
7. water permeability and absorption permeabilityandabsorbability
8. rub fastness rubbingfastness
9. color offset colorshift
10.waterproofness waterproof
11.hightemperaturebehavior temperature behavior
12.wearlessness wear
13.uppersoleagglutinate glue on the end of Beijing
sheep / cattle Beijing sheepsuede
June 10, 2010
part of the global dealer
Company: Wilsons The Leather Experts Inc.
Contact: Joel N. Waller, Chairman, CEO of imported products: leather
Product: leather wear
Company Nature: Importer, manufacturer, retailer (530 stores)
Importer, manufacturer, retailer (530 stores)
market retail price of reference Retail price idea:
leather pants Leather pants $ 99 – $ 170
skin jacket Leather jacket $ 59 – $ 400
Address (address): E-Commerce Customer Care Wilsons Leather PO Box 1009
Minneapolis, MN. 55440
Email (email): customercare@wilsonsleather.com
Tel (Tel): (800) 236-9976
Website: www.wilsonsleather.com
< br /> Company (Company): Sambar Enterprises Importers Inc.
Address (address): 137 Hawkbury Close, NW Calgary AB, T3G 3E3 Canada
Phone Number (phone) : 1- (403) 239-5177
Fax Number (Fax): 1- (403) 239-5177
Email (e-mail): sambarimporters @ cadvision . com
Product Information (Product): women clothing, exotic gift boxes, masks, wood products and other decorations
Company (Company): Shizar Imports < br />
Address (address): 2711 Byron Rd. North Vancouver BC, V7H 0L9 Canada
Phone Number (Tel): 1- (604) 929-6064
Fax Number (Fax): 1- (604) 929-6058
Product Information (Product): The African-style wood crafts
Company (Company) : SoapStuds
Address (address): 3623 – 110th Avenue Edmonton AB, T5W 0H6 Canada
Phone Number (Tel): 1- (780) 914-3736
Fax Number (Fax): 1- (780) 406-1826
Email (e-mail): soapstuds@soapstuds.com
Website ( Website): http://www.soapstuds.com
Product Information (Product): Various body care products
Company (company): Something Good Marketing Inc. < br />
Address (address): PO Box 3686 Regina SK, S4P 3N8 Canada
Phone Number (Tel): 1- (306) 569-4663
Fax Number (Fax): 1- (306) 586-0249
Product Information (Product): Gifts, senior clothing
Company (Company): St. Brendan Head
Address (address): 105 Bow River Dr. Harvie Heights AB, T1W 2W2 Canada
Phone Number (phone): 1- (403) 678-6956
Fax Number (Fax): 1- (403) 678-6956
Product Information (Product): wooden handicrafts, folk art, doll, angel doll Christmas decorations
Company (Company): Sunfire Creations
Address (address): Suite # 108-5045 Whitemud Road Edmonton AB, T6H 4Y7 Canada
< br /> Phone Number (Tel): 1- (780) 432-0161
Fax Number (Fax): 1- (780) 432-0161
Email (e): anant@powersurfr.com
Company (Company): Trinity Trading Inc.
Address (address): 2441 Shani Pl. Roberts Creek BC, V0N 2W6 Canada
Phone Number (Tel): 1- (604) 886-5998
Fax Number (Fax): 1- (604) 886-5993
Toll-free Phone Number (Toll Free): 1- (800) 575-0280
Email (e-mail): trinity@dccnet.com
Website (URL): http://www.lumalantern.com
Product Information (Product): lighting products, lanterns, silk gift
AllcurrencyfiguresstatedinthreportareinUSDollarsunlessstatedotherwise.
ThefinancialstatementamountsinthisreportaredeterminedinaccordancewithUSGAAP.
SHANGHAI, July28/PRNewswire-Asia/–SemiconductorManufacturingInternationalCorporation (NYSE: SMI; SEHK: 981) (“SMIC” orthe “Company”), oneoftheleadingsemiconductorfoundriesinthewod, todayannounceditsconsolidatedresultsofoperationsforthethreemonthsendedJune30, 2009.SecondQuarter2009Highlights:
– Revenueupby82 .5% to $ 267.4millionfrom $ 146.5millionin1Q09and
downby22.0% comparedto2Q08.Specifically, advancedlogicsales
from0.13micronand90nanometernodeshavesignifican
135.3% quarter-over-quarterinthesecondquarterof2009.
– Grossmarginsimprovedto-4 .8% in2Q09comparedto-88.3% in1Q09due
toasignificantincreaseinwafershipmentsandfabutilization.
ributabletoholdersofordinarysharesof $ 98.1millionin
2Q09, comparedtoalossof $ 178.3millionin1Q09.
– FullydilutedEPSwas ($ 0.2196) perADS.
ThirdQuarter2009Guidance :
Thefollowingstatementsareforwardlookingstatementswhicharebasedoncurrentpectationandwhichinvolverisksanduncertainties, someofwhicharesetforthunder “SafeHarborStatements” below.
– Revenueisexpectedtoincrease14% to18% QoQ.
udingforeignexchangedifferenceareexpected
torangefrom $ 90millionto $ 93million.
– Capitalexpendituresexpectedtorangefrom $ 60millionto $ 65million.
– Depreciationandamortizationexpectedtobearound $ 199millionto
Commentingonthequarterlyresults, Dr.RichardChang, ChiefExecutiveOfficerofSMIC , remarked, “Inthesecondquarterof2009, wewitnessedstrongbusinessrecoveryonallfronts.Totalrevenueincreased82.5% quarter-over-quarter, exceedingouroriginallystatedguidance.Ourutilizationrateincreasedto75% inthesecondquarterasourlogicshipmentsincreasedby102% quarter-over-quarter.Advancedlogicrevenuefor0.13-micronandbelowgrewbymorethan135% fromthefirstquarterof2009, increasingto41% asaportionoftotalrevenuefrom32% inthefirstquarter.Thissignificantrecoverywasdrivenlargelybyourcustomers strongperformancesinthecommunicationsandconsumersegments.Ourbook- to-billratiohasbeengreaterthanoneinthepastfiveconsecutivemonthsandnewtapeoutsinthesecondquarterreachedarecordhighforthelastsixquartersandareup58.5% fromthefirstquarterof2009, preliminarilyindicatingasustainedrecovery.
“SecondquarterrecoverywasfueledbyrecoveredcustomerdemandacrossallregionsandrobustenddemandinAsianmarkets.Regionally, ourGreaterChinarevenueinthesecondquarterincreasedby87.4%, andNorthAmericarevenueincreasedby85.3% quarter-over-quarter.WeaosawahealthyincreaseinourEuropesalesthisquarter.
” Intermsofadvancedtechnologydevelopment , wehavealreadycommencedriskproductiononour65nmlow-powerprocessinthebeginningofthethirdquarter.Inaddition, our45nmlow-powertechnologyqualificationprocessisonfrommultiplecustomersunderdevelopment, andweplantopassfull-scaletechnologyqualificationbythefourthquarterof2009.Moreover, wehaveachievedsuccessfulcompletionofourfirst45nmhighperformanceGPyieldlot, enablingustofurtherserveourcustomerswithcompetitiveadvancedtechnology.Movingforward, weareconfidentthatourcontinualeffortstostrenhenourtechnologyandoverallproductmixwillleadustoabetterpositionforprofitability.
“WehavemaintainedapositiveEBITDAmarginthroughoutthisobaleconomiccyclicaldownturn.Wehavealsocontinuedtoexercisetightcontrolovercapitalexpendituresandenhanceourfinancialposition.Forthesix-monthperiodendedJune30, 2009, wehavespentintotal $ 44.9milliononcapitalexpenditureswhileforthesameperiod, wehavegenerated $ 121.3 millionnetcashfromoperations.Our $ 190millionannualcapitalexpenditurebudgetisunchanged.Withtightdisciplineovercapitalexpenditures, weforecastthattotaldepreciationandamortizationexpensewilldeclinearound13% year-on-yearin2010.
“Asourcustomerordersremainstrong, weseecurrentmomentumforrecoverytocontinueinthethirdquarterwithdouble-digitrevenuegrowthoverthesecondquarterof2009.Weremainvigilantonourcostcontrolsandcontinuetofocusonenhancingourproductportfolio, andcommittostrengtheningouroperationalandfinancialperformancesonallfrontsaswestrivetowardourgoalofachievingprofitability.”
ConferenceCall / WebcastAnnouncement
Date: July29, 2009
Time: 8:00 a.m.Shanghaitime
Dial-innumbersandpasscode:
US1- 617-614-3672/1-800-260-8140orHK852-3002-1672
(Passcode: SMIC).
Alivewebcastofthe2009secondquarterannouncementwillbeavailableathttp: / / www.smics.comunderthe “InvestorRelations “section.Anarchivedversionofthewebcast, alongwithanelectroniccopyofthisnewsreleasewillbeavailableontheSMICwebsiteforaperiodof12monthsfollowingthewebcast.
SemiconductorManufacturingInternationalCorporation (” SMIC “; NYSE: SMI; SEHK: 981) isoneoftheleadingsemiconductorfoundriesintheworldandthelargestandmostadvancedfoundryinMainlandChina, providingintegratedcircuit (IC) foundryandtechnologyservicesat0.35umto45nm.HeadquarteredinShanghai, China, SMIChasamwaferfabricationfacility (fab) andthree200mmwaferfabsinitsShanghaimega-fab , two300mmwaferfabsinitsBeijingmega-fab, a200mmwaferfabinTianjin, a200mmfabunderconstructioninShenzhen, andanin-houseassemblyandtestingfacilityinChengdu.SMICalsohascustomerserviceandmarketingofficesintheU.S., Europe, andJapan, andarepresentativeofficeinHongKong.Inaddition, SMICmanagesandoperatesa200mmwaferfabinChengduownedbyCensionSemiconductorManufacturingCorporationanda300mmwaferfabinWuhanownedbyWuhanXinxinSemiconductorManufacturingCorporation.
Formoreinformation, pleasevisithttp: / / www.smics.com
SafeHarborStatements
(UnderthePrivateSecuritiesLitigationReformActof1995)
Thispressreleasecontains, inadditiontohistoricalinformation, “forward-lookingstatements” withinthemeaningofthe “safeharbor” provisionsoftheU.S.PrivateSecuritiesLitigationReformActof1995.Theseforward-lookingstatements, includingstatementsconcerningwhetherasustainedrecoveryintheeconomyhasbegun, SMIC plantopassfull-scaletechnologyqualificationforour45nmlow-powerprocessbythefourthquarterof2009, SMIC abilitytostrengthenourtechnologyandoverallproductmix, SMIC expectationsregardingtheamountofitscapitalexpendituresin2009, SMIC forecasteddeclineintotaldepreciationandamortizationexpenseyear-on-yearin2010, currentmomentumforcontinuedrecoveryinthethirdquarterwithdouble-digitrevenuegrowth, andstatementsunder “DepreciationandAmortization”, “CapexSummary” and “ThirdQuarter2009Guidance”, arebasedonSMIC currentassumptions, expectationsandprojectionsaboutfutureevents.SMICuseswordslike “believe , “” anticipate, “” intend, “” estimate, “” expect, “” project “andsimilarexpressionstoidentifyforward-lookingstatements, althoughnotallforward-lookingstatementscontainthesewords.Theseforward-lookingstatementsarenecessarilyestimatesreflectingthebestjudgmentofSMIC seniormanagementandinvolvesignificantrisks, bothknownandunknown, uncertaintiesandotherfactorsthatmaycauseSMIC actualperformance, financialconditionorresultsofoperationstobemateriallydifferentfromthosesuggestedbytheforward-lookingstatementsincluding, amongothers, risksassociatedwithcyclicalityandmarketconditionsinthesemiconductorindustry, thedownturnintheglobaleconomyandtheimpactonChina economy, intensecompetition, timelywaferacceptancebySMIC customers, timelyintroductionofnewtechnologies, SMIC abilitytostrengthenitstechnologyandoverallproductmix, supplyanddemandforsemiconductorfoundryservices, industryovercapacity, shortagesinequipment, componentsandrawmaterials, ordersorjudgmentsfrompendinglitigation, availabilityofmanufacturingcapacityandfinancialstabilityinendmarkets.
InvestorsshouldconsidertheinformationcontainedinSMIC filinwiththeU. S. SecuritiesandExchangeCommission (SEC), includingitsannualreporton20-F, filedwiththeSEConJune22, 2009, especiallyinthe “RiskFactors” and “Management DiscussionandAnalysisofFinancialConditionandResultsofOperations” sections, andsuchotherdocumentsthatSMICmayfilewiththeSECorSEHKfromtimetotime, includingonForm6-K.OtherunknownorunpredictablefactorsalsocouldhavematerialadverseeffectsonSMIC futureresults, performanceorachievements.Inlightoftheserisks, uncertainties, assumptionsandfactors, theforward-lookingeventsdiscussedinthispressreleasemaynotoccur.Youarecautionednottoplaceunduerelianceontheseforward-lookingstatements, whichspeakonlyasofthedatestated, orifnodateisstated, asofthedateofthispressrelease.Exceptasrequiredbylaw, SMICundertakesnoobligationanddoesnotintendtoupdateanyforward-lookingstatement, whetherasaresultofnewinformation, futureeventsorotherwise.
RecentTSMCLegalDevelopments:
OnAugust25, 2006, TSMCfiledalawsuitagainsttheCompanyandcertainsubsidiaries, namelySMIC (Shanghai), SMIC (Beijing) andSMIC (Americas) intheSuperiorCourtoftheStateofCalifornia, CountyofAlamedaforallegedbreachofasettlementagreement, allegedbreachofpromissorynotesandallegedtradesecretmisappropriationbytheCompany . TSMCseeks, amongotherthings, damages, injunctiverelief, attorneys ees, andtheaccelerationoftheremainingpaymentsoutstandingunderthatsettlementagreement.
Inthepresentlitigation, TSMCallegesthattheCompanyhasincorporatedTSMCtradesecretsinthemanufactureoftheCompany 0 .13 micronorsmallerprocessproducts.TSMCfurtherallegesthatasaresultofthisclaimedbreach, TSMC patentlicenseisterminatedandthecovenantnottosueisnolongerineffectwithrespecttotheCompany largerprocessproducts. TheCompanyhasvigorouydeniedallallegationsofmisappropriation.TheCourthasmadenofindingthatTSMC claimsarevalid.TheCourthassetatrialdateofSeptember8, 2009. < br />
OnSeptember13, 2006, theCompanyannouncedthatinadditiontofilingaresponsestronglydenyingtheallegationsofTSMCintheUnitedStateslawsuit, itfiledonSeptember12, 2006, across-complaintagainstTSMCseeking, amongotherthings, damagesforTSMC breachofcontractandbreachofimpliedcovenantofgoodfaithandfairdealing.
OnNovember16, 2006, theHighCourtinBeijing, thePeople RepublicofChina, acceptedthefilingofacomplaintbytheCompanyanditswholly-ownedsubsidiaries, namely , SMIC (Shanghai) andSMIC (Beijing), regardingtheunfaircompetitionarisingfromthebreachofbonafide (ieintegrity, goodfaith) principleandcommercialdefamationbyTSMC (“PRCComplaint”). InthePRCComplaint, theCompanyisseeking, amongotherthings, aninjunctiontostopTSMC infringingacts, publicagyfromTSMCtotheCompanyandcompensationfromTSMCtotheCompany, includingprofitsgainedbyTSMCfromtheirinfringingacts.
OnAugust14, 2007, theCompanyfiledanamendedcross-complaintagainstTSMCseeking, amongotherthings, damagesforTSMC breachofcontractandbreachofpatentlicenseagreement. TSMCthereafterdeniedtheallegationsoftheCompany amendedcross-complaintandsubsequentlyfiledadditionalclaimsthattheCompanybreachedasettlementagreementbyfilinganactionintheBeijingHighCourt. TheCompanyhasdeniedtheseadditionalclaimsbyTSMC.
OnAugust15-17, 2007, theCaliforniaCourtheldapreliminaryinjunctionhearingonTSMC motiontoenjoinuseofcertainprocessrecipesincertainoftheCompany 0 .13 micronlogicprocessflows.
OnSeptember7, 2007, theCourtdeniedTSMC preliminaryinjunctionmotion, therebyleavingunaffectedtheCompany developmentandsales. However, thecourtrequiredtheCompanytoprovide10days dvancenoticetoTSMCiftheCompanyplanstodiscloselogictechnologytonon-SMICentitiesundercertaincircumstances, toallowTSMCtoobjecttotheplanneddisclosure.
2008, TSMCfiledamotionintheCaliforniaCourtforsummaryadjudicationagainsttheCompanyonseveraloftheCompany crossclaims. TheCompanyopposedthemotionandonAugust6, 2008, theCourtgrantedinpartanddeniedinpartTSMC motion.
OnJune23, 2008, theCompanyfiledintheCaliforniacourtacross-complaintagainstTSMCseeking, amongotherthings, damagesforTSMC unlawfulmisappropriationoftradesecretsfromSMICtoimproveitscompetitivepositionagainstSMIC.
OnJuly10, 2008, theCaliforniaCourtheldapreliminaryinjunctionhearingonTSMC motiontoenjoindisclosureofinformationoncertainprocessrecipesintheCompany 0 .30 micronlogicprocessflowsto3rdparties.OnAugust8, 2008, theCourtgranted-in-partTSMC motionandpreliminarilyenjoinedSMICfromdisclosingfourteen0 .30 micronprocesssteps.OnOctober3, 2008, SMICfiledanoticeofappealoftheCourt August8, 2008OrderwiththeCaliforniaCourtofAppeal.Thisappealiscurrentlypending.
Duringthepre-trialproceedingsinthematter, asnotedaboveunder “OverviewofTSMCLitigation”, questionsaroseregardingtheactualtermsofthe2005SettlementAgreementbetweenSMICandTSMC.Accordingly, theCaliforniaCourtheldapreliminarytrialonJanuary13to16, 2009, limitedtoadeterminationofthetermsoftheSettlementAgreementandaninterpretationofanyrequirementsto “meetandconfer” priortoinstitutionoflitigation.OnMarch10, 2009, theCourtissuedaStatementofDecisionfinding, inpart, thatanagreementbetweenthepartieswasexecutedonJanuary30 , 2005, andthereafteramendedonFebruary2, 2005, asurgedbyTSMC.TheCompanybelievestheCourt rulingiserroneous.TherulingmaybeappealedbySMICfollowingthefilingofafinaljudgmentbytheCourtinthismatter.
OnMay1, 2009, theCompanyfiledmotionsforsummaryadjudicationagainstTSMC claimsforbreachofpromissorynotesandviolationoftheCaliforniaUniformTradeSecretsAct. ThemotionswereheardbytheCourtonJuly17, 2009.OnJuly20, 2009, theCourtdeniedtheCompany motions.
TheCaliforniaCourthasfurtherscheduledatrialuponallliabilityissuesrelatedtoaectedlistofTSMCtradesecretclaimsandSMICtradesecretclaimstocommenceonSeptember8, 2009.
IntheCompany actionintheBeijingHighPeople Court, followinganunsuccessfulchallengetothatCourt jurisdictionbyTSMC, theCourthasheldevidentiaryhearingsonOctober15, October29, andNovember25, 2008.TheCourtrendereditsfirst-instancejudgmentonJune10, 2009.ClaimsofSMICagainstTSMCwerenotsupportedbytheCourtinthefirst-instancejudgment.SMIChasappealedthefirst-instancejudgmenttothePRCSupremePeople Court.
UndertheprovisionsofSFAS144, theCompanyisrequiredtomakeadeterminationastowhetherornotthispendinglitigationrepresentsaneventthatrequiresafurtheranalysisofwhetherthepatentlicenseportfoliohasbeenimpaired.Webelievethatthelawsuitisatadiscoverystageandwearestillevaluatingwhetherornotthelitigationrepresentssuchanevent.TheCompanyexpectsfurtherinformationtobecomeavailabletous, whichwillaidusinmakingadetermination.TheoutcomeofanyimpairmentanalysisperformedunderSFAS144mightresultinamaterialimpacttoourfinancialpositionandresultsofoperations.Becausethecaseisinitsdiscoverystage, theCompanyisunabletoevaluatethelikelihoodofanunfavourableoutcomeortoestimatetheamountorrangeofpotentialloss.
SummaryofSecondQuarter2009OperatingResults
AmountsinUS $ thousands, exceptforEPSandoperatingdata
2Q091Q09QoQ2Q08YoY
Revenue267, 422146,51982.5% 342,919-22.0%
Costofsales280, 319275,9001.6% 322,077-13.0%
Grossprofit (loss) (12,897) (129,381) -90.0% 20,842 –
Operatingexpenses81, 60646,68174.8% 60,75034.3%
Lossfromoperations (94,503) (176,062) -46.3% (39,908 ) 136.8%
Otherexpenses, net (5,802) (4,480) 29.5% (5,193) 11.7%
Incometax (expenses)
credit2, 8803 ,305-12 .8% (2,046) –
Netlossafterincome
taxes (97,425) (177,238) -45.0% (47,147) 106.6%
Lossfromequity
investment (482) (874) -44.9% (85) 467.1%
Netloss (97,907) (178,111) -45.0% (47,232) 107.3%
Accretionofinterestto
non-controllinginterest
holder (262) (259) 1.1% 1,603 –
Lossattributableto
ordinaryshares (98,169) (178,370) -45.0% (45,629) 115.1%
Grossmargin-4.8% -88.3% 6.1%
Operatingmargin-35.3% -120.2 % -11.6%
Netlossperordinary
share (basic) (1) (0.00) (0.01) (0.00)
NetlossperADS (basic) ( 0.22) (0.40) (0.12)
Netlossperordinary
share (diluted) (1) (0.00) (0.01) (0.00)
NetlossperADS
(diluted) (0.22) (0.40) (0.12)
Wafersshipped (in8 “
wafers) (2) 341,261168,682102.3 % 402,114-15.1%
Capacityutilization75.4% 34.9% 92.2%
(1) Basedonweightedaverageordinarysharesof22, 352million (basic)
and22, 352million ( diluted) in2Q09, 22,344 million (basic) and
22,344 million (diluted) in1Q09and18, 589million (basic) and
18,589 million (diluted) in2Q08
(2) Includingcopperinterconnects
– Revenueincreasedto $ 267.4millionin2Q09, up82.5% QoQfrom $ 146.5
millionin1Q09duetoa102.3% increaseinwafershipments.
– Costofsalesincreasedto $ 280.3millionin2Q09, up1.6% QoQfrom
$ 275.9millionin1Q09.
– Grosslossreducedto $ 12.9millionin2Q09, comparedtoagrossloss
of $ 129.4millionin1Q09andgrossprofitof $ 20.8millionin2Q08. < br />
– Grossmarginsimprovedto-4 .8% in2Q09from-88.3% in1Q09primarily
duetoasignificantincreaseinwafershipmentsandfabutilization
– Totaloperatingexpensesincreasedto $ 81.6millionfrom $ 46.7million,
anincreaseof74.8% QoQ.
– R
GrossMarginReachedHistoricalHighof33.5% 13.7% and5.6% IncreaseinGAAPandNon-GAAPDilutedEPSQuarteroverQuarterCompanyReaffirmedShipmentGuidanceandRaisedGrossMarginGuidanceforFullYear2010BAODING, China, Aug.19/PRNewswire-Asia/–YingliGreenEnergyHoldingCompanyLimited (NYSE: YGE) (“YingliGreenEnergy” orthe “Company”), aleadingsolarenergycompanyandoneoftheworld largestverticallyintegratedphotovoltaicmanufacturers, whichmarketsitsproductsunderthebrand “YingliSolar, “todayannounceditsunauditedconsolidatedfinancialresultsforthequarterendedJune30, 2010.SecondQuarter2010ConsolidatedFinancialHighlights–TotalnetrevenueswereRMB2, 699.6million (US $ 398.1million) .– GrossprofitwasRMB905.1million (US $ 133.5million), representingagrossmarginof33.5% .– OperatingincomewasRMB565.4million (US $ 83.4million), representinganoperatingmarginof20.9%. – Netincome (1) wasRMB217.8million (US $ 32.1million) anddilutedearningsperordinaryshareandperAmericandepositaryshare (“ADS”) wasRMB1.41 (US $ 0.21) .– Onanadjustednon-GAAP (2) basis, netincomewasRMB261.0million (US $ 38.5million) anddilutedearningsperordinaryshareandperADSwasRMB1.69 ( US $ 0.25). “Thepastfewmonthshavebeenveryexcitingforusinmanyways,” saidMr.LianshengMiao, ChairmanandCEOofYingliGreenEnergy. “Inthesecondquarterof2010, weachievedamidteenpercentsequentialincreaseinPVmoduleshipmentvolumeandrealizedarecordhighgrossmarginof33.5%.” “Inadditiontodeliveringsolidoperationalresults, theCompanyalsoreachedimportantmilestonesonmanyotherfronts.Intermsofmarketing, our2010FIFAWorldCupsponsorshiphasmadeahugesplash.Asthemarketfordistributedelectricitygenerationisexpandinginmanymajorsolarmarkets, thepowertoinfluenceanddecidethesolarindustry futureisrapidlyvestingtothegeneralpublic. Webelieveourgroundbreaking2010FIFAWorldCupsponsorshipproject, accompaniedbyaseriesofmarketinginitiatives, haseffectivelyboostedourbrandrecognitionbothwithinandoutsideoftheconventionalsolarcommunity, whichisexpectedtogreatlyenhanceourcompetitiveadvantagesinthisnewera.Furthermore, supportedbyourreliableproductsandservices, weexpecttoenjoyapricingpremiumandreceivestrongerdemandasaresultofourever-increasingbrandequity. “Mr.Miaocontinued,” Ontheresearchandtechnologyfront, wehavecommencedinitialproductionof300MWPANDAhighefficiencysolarcellsinJuly2010, merelythirteenmonthsfromconceptualizingtheproject.Inparallel, wehavesuccessfullyenhancedPANDAcellconversionefficiencyrateto19% onthepilotline, andhavekickedoffcollaborationwithInnovalighttoboosttheaverageefficiencyofourmulticrystallinesiliconbasedsolarcells.Alltheseeffortsdemonstrateouraspirationtotechnologicaladvancementandourcommitmenttobringingthebenefitsofcutting-edgetechnologiestoourvaluedcustomers. “” I alsoexcitedtoreportanothersignificantoperatingmilestone. FineSilicon, ourpolysiliconmanufacturingfacilitywithadesignedannualproductioncapacityof3, 000metrictons, hassuccessfullycommencedcommercialoperationsinceearlierthismonth.Weexpectthisachievementtofurtherstrengthenourleadershipasoneoftheworld largestverticallyintegratedPVmanufacturers. “” Lastbutnotleast, weareencouragedbyouraccomplishmentsinmarketsaroundtheglobe.InEurope, wearefullystretchedtosatisfyourexistingcustomerbaseandtocontinuetoattractnewcustomersinhighgrowthemergingmarketssuchasFrance, Italy, CzechRepublic, GreeceandtheUnitedKingdom.InNorthAmerica, oursalesnetworkhasexpandedinto18statesintheU.S., aswellasCanadaandtheCaribbean, andwehavebecometheleadingsupplierofPVmodulesinNewJerseyandCalifornia.WehavealsobeenmakingprogressintherooftopandgroundmountedsegmentsandwererecentlyselectedforanumberofhighprofileprojectsonboththeWestandtheEastCoasts.InChina, weareenhancingourstrategiccooperativerelationshipswithutilitycompaniesinvariousconcessionbiddingprojectsinordertofurtherexpandourfootprints. “” Forallthereasonsstatedabove, weareconfidentinourprospectsforastrongsecondhalfoftheyear, “Mr.Miaoconcluded.SecondQuarter2010FinancialResultsTotalNetRevenuesTotalnetrevenueswereRMB2, 699.6million (US $ 398.1million) inthesecondquarterof2010 , anincreaseof10.2% fromRMB2, 449.9millioninthefirstquarterof2010and80.1% fromRMB1, 498.9millioninthesecondquarterof2009.TheincreaseintotalnetrevenueswasprimarilyduetothemidteengrowthrateinPVmoduleshipmentvolumequarteroverquarter, partiallyoffsetbythedepreciationoftheeuroagainsttheRenminbi.GrossProfitandGrossMargin (3) Grossprofitinthesecondquarterof2010wasRMB905.1million (US $ 133.5million), anincreaseof11.0% fromRMB815.4millioninthefirstquarterof2010and205.4% fromRMB296.3millioninthesecondquarterof2009.Grossmarginwas33. 5% inthesecondquarterof2010, comparedto33.3% inthefirstquarterof2010and19.8% inthesecondquarterof2009.Theincreaseingrossmarginwasprimarilyduetothebetterthanexpectedaveragesellingpriceandcontinuousdeclineintheblendedcostofpolysilicon, decreasingpolysiliconusageperwattandcontinuousreductioninnon-polysiliconcost.OperatingExpenses (3) Operatingexpensesinthesecondquarterof2010wereRMB339.7million (US $ 50.1million), comparedtoRMB279.5millioninthefirstquarterof2010andRMB189.5millioninthesecondquarterof2009.Theincreaseinoperatingexpensesthisquarterwasprimarilyattributabletohighersellingexpensesrelatingtothe2010FIFAWorldCupsponsorship, aswellasincreasingresearchanddevelopmentexpensesinconnectionwiththeprogressofaseriesofresearchanddevelopmentinitiatives, includingsecondgenerationPANDAcellsandcollaborationwithInnovalight.Operatingexpensesasapercentageoftotalnetrevenueswere12.6% inthesecondquarterof2010 , comparedto11.4% inthefirstquarterof2010and12.6% inthesecondquarterof2009.OperatingIncomeandMarginOperatingincomeinthesecondquarterof2010wasRMB565.4million (US $ 83.4million), comparedtoRMB535.9millioninthefirstquarterof2010andRMB106.8millioninthesecondquarterof2009.Operatingmarginwas20.9% inthesecondquarterof2010, comparedto21.9% inthefirstquarterof2010and7.1% inthesecondquarterof2009.InterestExpenseInterestexpensewasRMB73.0million (US $ 10.8million) inthesecondquarterof2010, comparedtoRMB91.2millioninthefirstquarterof2010andRMB115.9millioninthesecondquarterof2009.ThedecreaseininterestexpensewasprimarilyattributabletotheCompany effortstocontrolfundingcostsandincreasedcapitalizationrateofsuchinterestexpense.Afterexcludingnon-cashinterestexpenseitems, interestexpensewasRMB57.7million (US $ 8.5million) inthesecondquarterof2010, comparedtoRMB63.4millioninthefirstquarterof2010andRMB79.1millioninthesecondquarterof2009.Excludingnon-cashinterestexpenses, theweightedaverageinterestratefordebtoutstandinginthesecondquarterof2010was6.7%, anincreasefrom6.43% inthefirstquarterof2010.ForeignCurrencyExchangeLoss (Gain ) ForeigncurrencyexchangelosswasRMB158.6million (US $ 23.4million) inthesecondquarterof2010, comparedtoaforeigncurrencyexchangelossofRMB169.1millioninthefirstquarterof2010andaforeigncurrencyexchangegainofRMB108.7millioninthesecondquarterof2009.TheforeigncurrencyexchangelossinthisquarterwasprimarilyduetothedepreciationoftheeuroagainsttheRenminbi, partiallyoffsetbytheCompany hedgingprogram. IncomeTaxExpenseIncometaxexpensewasRMB65.9million (US $ 9.7million) inthesecondquarterof2010, comparedtoRMB39.5millioninthefirstquarterof2010andRMB16.0millioninthesecondquarterof2009.TheincreaseinincometaxexpensewasprimarilyduetothenetoperatingincomegeneratedbyTianweiYingliandYingliEnergy (China) CompanyLimitedthisquarter.NetIncome (Loss) NetincomewasRMB217 .8 million (US $ 32.1million) inthesecondquarterof2010, comparedtoanetincomeofRMB190.9millioninthefirstquarterof2010andanetlossofRMB393.7millioninthesecondquarterof2009.DilutedearningsperordinaryshareandperADSwasRMB1.41 (US $ 0.21) inthesecondquarterof2010, comparedtodilutedearningsperordinaryshareandperADSofRMB1.24inthefirstquarterof2010anddilutedlossperordinaryshareandperADSofRMB3.03inthesecondquarterof2009.Onanadjustednon-GAAPbasis, netincomewasRMB261.0million (US $ 38.5million) inthesecondquarterof2010, comparedtoanetincomeofRMB246.8millioninthefirstquarterof2010andanetincomeofRMB119.8millioninthesecondquarterof2009. Adjustednon-GAAPdilutedearningsperordinaryshareandperADSwereRMB1.69 (US $ 0.25) inthesecondquarterof2010, comparedtoanon-GAAPdilutedearningsperordinaryshareandperADSofRMB1.60inthefirstquarterof2010andanon-GAAPdilutedearningsperordinaryshareandperADSofRMB0.91inthesecondquarterof2009.Alsoonanadjustednon-GAAPbasis, furtherexcludingtheforeigncurrencyexchangeloss (gain), netincomewasRMB419.6million (US $ 61.9million) inthesecondquarterof2010, comparedtoanetincomeofRMB415.9millioninthefirstquarterof2010andanetincomeofRMB11.1millioninthesecondquarterof2009.Adjustednon-GAAPdilutedearningsperordinaryshareandperADSexcludingforeignexchangelosswereRMB2. 72 (US $ 0.40) inthesecondquarterof2010, comparedtoanon-GAAPdilutedearningsperordinaryshareandperADSexcludingforeignexchangelossofRMB2.70inthefirstquarterof2010andanon-GAAPdilutedearningsperordinaryshareandperADSexcludingforeignexchangegainofRMB0.09inthesecondquarterof2009.BalanceSheetAnalysisAsofJune30, 2010, YingliGreenEnergyhadRMB4, 079.4million (US $ 601.5million) incash, restrictedcashandlong-termrestrictedcash, comparedtoRMB4, 355.6millionasofMarch31, 2010.Workingcapital (currentassetslesscurrentliabilities) wasRMB610.0million (US $ 89.9million) asofJune30, 2010, comparedtoRMB661.2millionasofMarch31, 2010.Asofthedateofthispressrelease, theCompanyhadapproximatelyRMB12, 326millioninauthorizedlinesofcredit, ofwhichRMB5, 426millionhadnotbeenutilized.BusinessOutlookforFullYear2010Basedoncurrentmarketandoperatingconditions, estimatedproductioncapacityandforecastedcustomerdemand, theCompanyreaffirmsitsPVmoduleshipmenttargettobeintheestimatedrangeof950MWto1GWforfiscalyear2010, whichrepresentsanincreaseof80.8% to90.4% comparedtofiscalyear2009.Inaddition, basedonthestronggrossmarginperformanceinthefirsthalfof2010, theestimatedrampupcostofFineSilicon, the400MWnewcapacitiesputintoinitialoperationinJuly2010, theexpectedaveragesellingpriceofPVmodulesandforecastedexchangeratesoftheeuroandU . S.dollaragainsttheRenminbi, theCompanyraisesitsgrossmargintargettotheestimatedrangeof28% to30% fromthepreviousestimatedrangeof27% to29% forfiscalyear2010.Non-GAAPFinancialMeasuresTosupplementthefinancialmeasurescalculatedinaccordancewithGAAP, thispressreleaseincludescertainnon-GAAPfinancialmeasuresofadjustednetincome (loss) andadjusteddilutedearnings (loss) perordinaryshareandperADS, eachofwhichisadjustedtoexcludeitemsrelatedtoshare-basedcompensation, thenon-cashinterestexpense, thenon-cashlossduetothechangesinthefairvalueoftheembeddedderivativeliability, lossondebtextinguishment, andtheamortizationofintangibleassetsarisingfrompurchasepriceallocationinconnectionwithaseriesofacquisitionsofequityinterestsinTianweiYingli.TheCompanybelievesexcludingtheseitemsfromitsnon-GAAPfinancialmeasuresisusefulforitsmanagementandinvestorstoassessandanalyzetheCompany coreoperatingresultsassuchitemsarenotdirectlyattributabletotheunderlyingperformanceoftheCompany businessoperationsanddonotimpactitscashearnings. TheCompanyalsobelievesthesenon-GAAPfinancialmeasuresareimportanttohelpinvestorsunderstandtheCompany currentfinancialperformanceandfutureprospectsandcomparebusinesstrendsamongdifferentreportingperiodsonaconsistentbasis. Thesenon-GAAPfinancialmeasuresshouldbeconsideredinadditiontofinancialmeasurespresentedinaccordancewithGAAP, butshouldnotbeconsideredasasubstitutefor, orsuperiorto, financialmeasurespresentedinaccordancewithGAAP.Forareconciliationofeachofthesenon-GAAPfinancialmeasurestothemostdirectlycomparableGAAPfinancialmeasure, pleaseseethefinancialinformationincludedelsewhereinthispressrelease.CurrencyConversionSolelyfortheconvenienceofreaders, certainRenminbiamountshavebeentranslatedintoU.S.dollaramountsattherateofRMB6.7815toUS $ 1.00, thenoonbuyingrateinNewYorkforcabletransfersofRenminbiperU.S.dollarassetforthintheH.10weeklystatisticalreleaseoftheFederalReserveBoardasofJune30, 2010.NorepresentationisintendedtoimplythattheRenminbiamountscouldhavebeen, orcouldbe, converted, realizedorsettledintoU.S.dollaramountsatsuchrate, oratanyotherrate.ThepercentagesstatedinthispressreleasearecalculatedbasedonRenminbi.ConferenceCallYingliGreenEnergywillhostaconferencecallandlivewebcasttodiscusstheresultsonAugust19, 2010at8: 00AMEasternDaylightTime (EDT), whichcorrespondstosameday8: 00PMBeijing/HongKongtime.Thedial-indetailsfortheliveconferencecallareasfollows: – USTollFreeNumber: 1-866-356-3095–Internationaldial- innumber: 1-617-597-5391–Passcode: 84476852 # AliveandarchivedwebcastoftheconferencecallwillbeavailableontheInvestorssectionofYingliGreenEnergy websiteathttp: / / www.yinglisolar.com.AreplaywillbeavailableshortlyafterthecallonYingliGreenEnergy websitefor90days.AreplayoftheconferencecallwillbeavailableuntilSeptember2, 2010bydialing: – USTollFreeNumber: 1-888-286-8010- -Internationaldial-innumber: 1-617-801-6888–Passcode: 29288987 # AboutYingliGreenEnergyYingliGreenEnergyHoldingCompanyLimited (NYSE: YGE), whichholdsthebrand “YingliSolar”, isaleadingsolarenergycompanyandoneoftheworld largestverticallyintegratedphotovoltaicmanufacturers. YingliGreenEnergy manufacturingcoverstheentirephotovoltaicvaluechain, fromtheproductionofpolysiliconthroughingotcastingandwafering, tosolarcellproductionandmoduleassembly.Currently, YingliGreenEnergymaintainsabalancedproductioncapacityofover600MWperyear.Twocapacityexpansionprojectsof300MWand100MWlocatedinBaodingandHainan, respectively , havebothstartedinitialproductioninearlyJuly2010, andareexpectedtobringYingliGreenEnergy totalcapacityto1GWbytheendofthethirdquarterof2010. Inaddition, YingliGreenEnergy in-housepolysiliconplant, FineSilicon, whichhasadesignedannualproductioncapacityof3, 000metrictons, hassuccessfullystartedcommercialoperationinearlyAugust2010.YingliGreenEnergydistributesitsphotovoltaicmodulestoawiderangeofmarkets, includingGermany, Spain, Italy, Greece, France, SouthKorea, ChinaandtheUnitedStates.HeadquarteredinBaoding, China, YingliGreenEnergyhasmorethan7, 000employeesandmorethan10subsidiariesandbranchofficesworldwide.YingliGreenEnergyispubliclylistedontheNewYorkStockExchange (NYSE : YGE). Formoreinformation, pleasevisithttp: / / www.yinglisolar.com.SafeHarborStatementThispressreleasecontainsforward-lookingstatements.Thesestatementsconstitute “forward-looking” statementswithinthemeaningofSection21EoftheSecuritiesExchangeActof1934, asamended, andasdefinedintheU.S.PrivateSecuritiesLitigationReformActof1995.Theseforward-lookingstatementscanbeidentifiedbyterminologysuchas “will,” “expects,” “anticipates, “” future, “” intends, “” plans, “” believes, “” estimates, “” target “andsimilarstatements.Suchstatementsarebaseduponmanagement currentexpectationsandcurrentmarketandoperatingconditions, andrelatetoeventsthatinvolveknownorunknownrisks, uncertaintiesandotherfactors, allofwhicharedifficulttopredictandmanyofwhicharebeyondYingliGreenEnergy control, whichmaycauseYingliGreenEnergy actualresults, performanceorachievementstodiffermateriallyfromthoseintheforward-lookingstatements.Furtherinformationregardingtheseandotherrisks, uncertaintiesorfactorsisincludedinYingliGreenEnergy sfilingswiththeU.S.SecuritiesandExchangeCommission.YingliGreenEnergydoesnotundertakeanyobligationtoupdateanyforward-lookingstatementasaresultofnewinformation, futureeventsorotherwise, exceptasrequiredunderapplicablelaw.Forfurtherinformation, pleasecontact: QingMiaoDirector, InvestorRelationsYingliGreenEnergyHoldingCompanyLimitedPhone: 86-312-3100-502 Email: ir@yinglisolar.comYINGLIGREENENERGYHOLDINGCOMPANYLIMITEDANDSUBSIDIARIESUnauditedCondensedConsolidatedBalanceSheets (Inthousands) AsofDecember31, AsofJune30, 20102009RMBRMBUS $ ASSETSCurrentassets: Cashandrestrictedcash3, 463 , 2783,911,616576,807 Accountsreceivable, net1, 827,4901,438,975212,191 Inventories1, 665,0211,868,115275,472 Prepaymentstosuppliers329, 457439,74064,844 Prepaidexpensesandothercurrentassets671, 229889,641131,187 Totalcurrentassets7, 956,4758,548,0871 , 260,501 Long-termprepaymentstosuppliers678, 311531,84078,425 Property, plantandequipment, net6, 573,8518,716,6851,285,362 Landuserights354, 560362,59853,469 Goodwillandintangibleassets, net481, 492457,13167,409 Restrictedcash, excludingcurrentportion167, 774167,77424,740 Otherassets44 , 64260,5948,935 Totalassets16, 257,10518,844,7092,778,841 LIABILITIESANDSHAREHOLDERS QUITYCurrentliabilities: Short-termbankborrowings, includingcurrentportionoflong-termbankborrowings3, 501,0274,061,518598,912 Convertibleseniornotes1, 291,8431,324,341195,287 Accountspayable1, 852 , 2162,124,916313,340 Othercurrentliabilitiesandaccruedexpenses294, 302427,35463,018 Totalcurrentliabilities6, 939,3887,938,1291,170,557 Seniorsecuredconvertiblenotes100, 139165,87824,461 Long-termbankborrowings, excludingcurrentportion752, 8091,501,067221,347 Otherliabilities278, 910402,68659,380 Totalliabilities8 , 071,24610,007,7601,475,745 Shareholders quity: Ordinaryshares11, 36311,4371,687 Additionalpaid-incapital6, 130,8906,165,245909,127 Accumulatedothercomprehensiveincome12, 78435,8095,280 Retainedearnings480, 037888,717131,050 TotalequityattributabletoYingliGreenEnergy6, 635,0747 , 101,2081,047,144 Noncontrollinginterests1, 550,7851,735,741255,952 Totalshareholders quity8, 185,8598,836,9491,303,096 Totalliabilitiesandshareholders quity16, 257,10518,844,7092,778,841 YINGLIGREENENERGYHOLDINGCOMPANYLIMITEDANDSUBSIDIARIESUnauditedCondensedConsolidatedStatementsofOperations (Inthousands, exceptforshare , ADS, pershareandperADSdata) ThreemonthsendedJune30, March31, June30, 20102009 (3) 2010RMBRMBRMBUS $ Netrevenues: SalesofPVmodules1, 460,7152,411,8942,655,926391,643 SalesofPVsystems32, 81320,7095,704841 Otherrevenues5, 37417,32437,9915,602 Totalnetrevenues1, 498 , 9022,449,9272,699,621398,086 Costofrevenues: CostofPVmodulessales (1,170,870) (1,598,405) (1,752,976) (258,494) CostofPVsystemssales (26,626) (18,436 ) (7,290) (1,075) Costofotherrevenues (5,089) (17,643) (34,295) (5,057) Totalcostofrevenues (1,202,585) (1,634,484) (1, 794,561) (264,626) Grossprofit296, ??317815,443905,060133,460 Sellingexpenses (62,156) (156,366) (202,518) (29,863) Generalandadministrativeexpenses (81,233) (106,934) ( 98,297) (14,495) Researchanddevelopmentexpenses (46,130) (16,216) (38,846) (5,728) Totaloperatingexpenses (189,519) (279,516) (339,661) (50,086 ) Incomefromoperations106, 798535,927565,39983,374 Otherincome (expense): Interestexpense (115,923) (91,174) (73,027) (10,769) Interestincome8303, 2955,173763 Foreigncurrencyexchangegains (losses) 108,710 (169,062 ) (158,607) (23,388) Lossondebtextinguishment (244,745 )—— Lossonderivativeliabilities (204,246 )—— Otherincome8363, 5433,717548 Earnings (loss) beforeincometaxes (347,740) 282 , 529342,65550,528 Incometaxexpense (15,998) (39,467) (65,905) (9,718) Netincome (loss) (363,738) 243,062276,75040,810 Less: Earningsattributabletothenoncontrollinginterests (29,943) ( 52,184) (58,948) (8,693) Netincome (loss) attributabletoYingliGreenEnergy (393,681) 190,878217,80232,117 WeightedaveragesharesandADSsoutstandingBasic130, 044,300148,992,178149,427,769149,427,769 Diluted130, 044, 300154,060,104154,164,790154,164,790 Earnings (loss) pershareandperADSBasic (3.03) 1.281.460.21Diluted (3.03) 1.241.410.21ReconciliationofNon-GAAPmeasurestoGAAPmeasuresThreemonthsendedJune30, March31, June30, 201020092010RMBRMBRMBUS $ Non-GAAPincome119, 794246,792261,02338, 490Share-basedcompensation (14,721) (16,052) (15,761) (2,324) Amortizationofintangibleassets (12,971) (12,111) (12,111) (1,786) Lossonembeddedderivativeliability (204,246) —— Lossondebtextinguishment (244,745 )—— Non-cashinterestexpenses (36,792) (27,751) (15,349) (2,263) Netincome (loss) attributabletoYingliGreenEnergy (393,681 ) 190,878217,80232,117 Non-GAAPdilutedearningspershareandperADS0.911.601.690.25Dilutedearnings (loss) pershareandperADS (3.03) 1.241.410.21 (1) Forconveniencepurposes, allreferencesto “netincome (loss)” inthispressrelease, unlessotherwisespecified, represent “netincome (loss) attributabletoYingliGreenEnergy” forallperiodspresented . (2) Allnon-GAAPmeasuresexcludeshare-basedcompensation, thenon-cashinterestexpenses, thenon-cashlossduetothechangesinthefairvalueoftheembeddedderivativeliability, lossondebtextinguishment, andtheamortizationofintangibleassetsarisingfrompurchasepriceallocationinconnectionwithaseriesofacquisitionsofequityinterestsinBaodingTianweiYingliNewEnergyResourcesCo., Ltd. (“TianweiYingli”), anoperatingsubsidiaryoftheCompany.Forfurtherdetailsonnon-GAAPmeasures, pleaserefertothereconciliationtableandadetaileddiscussionoftheCompany useofnon-GAAPinformationsetforthelsewhereinthispressrelease. (3) TheCompany previouslyreportedunauditedsecondquarter2009financialresultshavebeenrevisedtoreflectareclassificationofwarrantyandshippingcostofRMB22. 5millionfromcostofrevenuestosellingexpensesinordertobetterreflectthenatureoftheseexpensesandtoincreasethecomparabilityofinformationwiththeCompany peers. YingliGreenEnergyReportsSecondQuarter2010Results
GrossMarginReachedHistoricalHighof33.5%
13.7% and5.6% IncreaseinGAAPandNon-GAAPDilutedEPSQuarteroverQuarter
CompanyReaffirmedShipmentGuidanceandRaisedGrossMarginGuidanceforFullYear2010
BAODING, China, Aug.19/PRNewswire-Asia/–YingliGreenEnergyHoldingCompanyLimited (NYSE: YGE) (“YingliGreenEnergy” orthe “Company”), aleadingsolarenergycompanyandoneoftheworld largestverticallyintegratedphotovoltaicmanufacturers, whichmarketsitsproductsunderthebrand “YingliSolar,” todayannounceditsunauditedconsolidatedfinancialresultsforthequarterendedJune30, 2010.
SecondQuarter2010ConsolidatedFinancialHighlights
– TotalnetrevenueswereRMB2, 699.6million (US $ 398.1million).
– GrossprofitwasRMB905 .1 million (US $ 133.5million), representinga
grossmarginof33.5%.
– OperatingincomewasRMB565 .4 million (US $ 83.4million), representing
anoperatingmarginof20.9%.
– Netincome (1) wasRMB217.8million (US $ 32.1million) anddiluted
earningsperordinaryshareandperAmericandepositaryshare (“ADS”)
wasRMB1.41 (US $ 0.21).
– Onanadjustednon-GAAP (2) basis, netincomewasRMB261.0million
(US $ 38.5million) anddilutedearningsperordinaryshareandperADS
wasRMB1.69 (US $ 0.25).
“Thepastfewmonthshavebeenveryexcitingforusinmanyways,” saidMr.LianshengMiao, ChairmanandCEOofYingliGreenEnergy. “Inthesecondquarterof2010, weachievedamidteenpercentsequentialincreaseinPVmoduleshipmentvolumeandrealizedarecordhighgrossmarginof33.5%.”
“Inadditiontodeliveringsolidoperationalresults, theCompanyalsoreachedimportantmilestonesonmanyotherfronts.Intermsofmarketing, our2010FIFAWorldCupsponsorshiphasmadeahugesplash.Asthemarketfordistributedelectricitygenerationisexpandinginmanymajorsolarmarkets, thepowertoinfluenceanddecidethesolarindustry futureisrapidlyvestingtothegeneralpublic. Webelieveourgroundbreaking2010FIFAWorldCupsponsorshipproject, accompaniedbyaseriesofmarketinginitiatives, haseffectivelyboostedourbrandrecognitionbothwithinandoutsideoftheconventionalsolarcommunity, whichisexpectedtogreatlyenhanceourcompetitiveadvantagesinthisnewera . Furthermore, supportedbyourreliableproductsandservices, weexpecttoenjoyapricingpremiumandreceivestrongerdemandasaresultofourever-increasingbrandequity. “
Mr.Miaocontinued,” Ontheresearchandtechnologyfront, wehavecommencedinitialproductionof300MWPANDAhighefficiencysolarcellsinJuly2010, merelythirteenmonthsfromconceptualizingtheproject.Inparallel, wehavesuccessfullyenhancedPANDAcellconversionefficiencyrateto19% onthepilotline, andhavekickedoffcollaborationwithInnovalighttoboosttheaverageefficiencyofourmulticrystallinesiliconbasedsolarcells.Alltheseeffortsdemonstrateouraspirationtotechnologicaladvancementandourcommitmenttobringingthebenefitsofcutting-edgetechnologiestoourvaluedcustomers. “
“I alsoexcitedtoreportanothersignificantoperatingmilestone. FineSilicon, ourpolysiliconmanufacturingfacilitywithadesignedannualproductioncapacityof3, 000metrictons, hassuccessfullycommencedcommercialoperationsinceearlierthismonth.Weexpectthisachievementtofurtherstrengthenourleadershipasoneoftheworld largestverticallyintegratedPVmanufacturers.”
“Lastbutnotleast, weareencouragedbyouraccomplishmentsinmarketsaroundtheglobe.InEurope, wearefullystretchedtosatisfyourexistingcustomerbaseandtocontinuetoattractnewcustomersinhighgrowthemergingmarketssuchasFrance, Italy, CzechRepublic, GreeceandtheUnitedKingdom.InNorthAmerica, oursalesnetworkhasexpandedinto18statesintheU.S., aswellasCanadaandtheCaribbean, andwehavebecometheleadingsupplierofPVmodulesinNewJerseyandCalifornia.WehavealsobeenmakingprogressintherooftopandgroundmountedsegmentsandwererecentlyselectedforanumberofhighprofileprojectsonboththeWestandtheEastCoasts.InChina, weareenhancingourstrategiccooperativerelationshipswithutilitycompaniesinvariousconcessionbiddingprojectsinordertofurtherexpandourfootprints. “
” Forallthereasonsstatedabove, weareconfidentinourprospectsforastrongsecondhalfoftheyear, “Mr.Miaoconcluded.
SecondQuarter2010FinancialResults
TotalNetRevenues
< br /> TotalnetrevenueswereRMB2, 699.6million (US $ 398.1million) inthesecondquarterof2010, anincreaseof10.2% fromRMB2, 449.9millioninthefirstquarterof2010and80.1% fromRMB1, 498.9millioninthesecondquarterof2009.TheincreaseintotalnetrevenueswasprimarilyduetothemidteengrowthrateinPVmoduleshipmentvolumequarteroverquarter, partiallyoffsetbythedepreciationoftheeuroagainsttheRenminbi.
GrossProfitandGrossMargin (3)
Grossprofitinthesecondquarterof2010wasRMB905.1million (US $ 133.5million), anincreaseof11.0% fromRMB815.4millioninthefirstquarterof2010and205.4% fromRMB296.3millioninthesecondquarterof2009.Grossmarginwas33.5% inthesecondquarterof2010, comparedto33.3% inthefirstquarterof2010and19.8% inthesecondquarterof2009.Theincreaseingrossmarginwasprimarilyduetothebetterthanexpectedaveragesellingpriceandcontinuousdeclineintheblendedcostofpolysilicon, decreasingpolysiliconusageperwattandcontinuousreductioninnon-polysiliconcost. < br />
OperatingExpenses (3)
Operatingexpensesinthesecondquarterof2010wereRMB339.7million (US $ 50.1million), comparedtoRMB279.5millioninthefirstquarterof2010andRMB189.5millioninthesecondquarterof2009.Theincreaseinoperatingexpensesthisquarterwasprimarilyattributabletohighersellingexpensesrelatingtothe2010FIFAWorldCupsponsorship, aswellasincreasingresearchanddevelopmentexpensesinconnectionwiththeprogressofaseriesofresearchanddevelopmentinitiatives, includingsecondgenerationPANDAcellsandcollaborationwithInnovalight.Operatingexpensesasapercentageoftotalnetrevenueswere12.6% inthesecondquarterof2010, comparedto11.4% inthefirstquarterof2010and12.6% inthesecondquarterof2009.
OperatingIncomeandMargin
Operatingincomeinthesecondquarterof2010wasRMB565.4million (US $ 83.4million), comparedtoRMB535.9millioninthefirstquarterof2010andRMB106.8millioninthesecondquarterof2009.
Operatingmarginwas20.9% inthesecondquarterof2010, comparedto21.9% inthefirstquarterof2010and7.1% inthesecondquarterof2009.
InterestExpense
InterestexpensewasRMB73.0million (US $ 10.8million) inthesecondquarterof2010, comparedtoRMB91.2millioninthefirstquarterof2010andRMB115.9millioninthesecondquarterof2009.ThedecreaseininterestexpensewasprimarilyattributabletotheCompany effortstocontrolfundingcostsandincreasedcapitalizationrateofsuchinterestexpense. < br />
Afterexcludingnon-cashinterestexpenseitems, interestexpensewasRMB57.7million (US $ 8.5million) inthesecondquarterof2010, comparedtoRMB63.4millioninthefirstquarterof2010andRMB79.1millioninthesecondquarterof2009.Excludingnon-cashinterestexpenses, theweightedaverageinterestratefordebtoutstandinginthesecondquarterof2010was6.7%, anincreasefrom6.43% inthefirstquarterof2010.
ForeignCurrencyExchangeLoss (Gain)
ForeigncurrencyexchangelosswasRMB158.6million (US $ 23.4million) inthesecondquarterof2010, comparedtoaforeigncurrencyexchangelossofRMB169.1millioninthefirstquarterof2010andaforeigncurrencyexchangegainofRMB108.7millioninthesecondquarterof2009.TheforeigncurrencyexchangelossinthisquarterwasprimarilyduetothedepreciationoftheeuroagainsttheRenminbi, partiallyoffsetbytheCompany hedgingprogram.
IncomeTaxExpense
IncometaxexpensewasRMB65.9million (US $ 9.7million) inthesecondquarterof2010, comparedtoRMB39.5millioninthefirstquarterof2010andRMB16.0millioninthesecondquarterof2009.TheincreaseinincometaxexpensewasprimarilyduetothenetoperatingincomegeneratedbyTianweiYingliandYingliEnergy (China) CompanyLimitedthisquarter.
NetIncome (Loss)
NetincomewasRMB217.8million (US $ 32.1million ) inthesecondquarterof2010, comparedtoanetincomeofRMB190.9millioninthefirstquarterof2010andanetlossofRMB393.7millioninthesecondquarterof2009.DilutedearningsperordinaryshareandperADSwasRMB1.41 (US $ 0.21) inthesecondquarterof2010, comparedtodilutedearningsperordinaryshareandperADSofRMB1.24inthefirstquarterof2010anddilutedlossperordinaryshareandperADSofRMB3.03inthesecondquarterof2009.
Onanadjustednon-GAAPbasis, netincomewasRMB261.0million (US $ 38.5million) inthesecondquarterof2010, comparedtoanetincomeofRMB246.8millioninthefirstquarterof2010andanetincomeofRMB119. 8millioninthesecondquarterof2009.Adjustednon-GAAPdilutedearningsperordinaryshareandperADSwereRMB1.69 (US $ 0.25) inthesecondquarterof2010, comparedtoanon-GAAPdilutedearningsperordinaryshareandperADSofRMB1.60inthefirstquarterof2010andanon-GAAPdilutedearningsperordinaryshareandperADSofRMB0.91inthesecondquarterof2009.
Alsoonanadjustednon-GAAPbasis, furtherexcludingtheforeigncurrencyexchangeloss (gain), netincomewasRMB419.6million (US $ 61.9million) inthesecondquarterof2010,
Sina Finance SAN FRANCISCO, Sept. 20 evening news, CNN founder and billionaire Ted – Turner (TedTurner), said by telephone tapping scandal, News Corp. (NWSA) Chairman and CEO Rupert – Murdoch (RupertMurdoch) likely will have to leave, the scandal began in News Corp newspaper.
Turner, said in an interview today: “I think he will have to step down, he never experienced any such thing, very serious matter.” However, he pointed out, and all other people, related in phone tapping case when the investigation is continuing, Murdoch has the protection of the presumption of innocence.
News Corp. “World News” was charged with the murder victim tapping voice mail, pay bribes to the police to get the news, the scandal led News Corp. has been criticized. Public anger on this issue has forced News Corp. has closed 168-year history of “World News” and gave up to 7.8 billion pounds (about $ 12.2 billion) holding the full price of the British Sky Broadcasting (BritishSkyBroadcastingGroupPLC) ( BSY) program.
July of this year, Rupert – Rupert Murdoch and his son, deputy chief operating officer of News Corp. James – Murdoch (JamesMurdoch) was summoned to the British Parliament, on issues to do about the scandal out the answer. Rupert – Rupert Murdoch said in a statement at that time, he bribes the police, phone tapping and are unaware of, but Turner said the reasons for this statement is not sufficient. Turner said: “He should know these things, he is chairman of News Corporation, to be held responsible in my operation my company, I was responsible, has never said do not know ”
Turner in 1996 will be sold to Turner Broadcasting, Time Warner (TWX), the former owns CNN, TBS and the Cartoon network (CartoonNetwork) and other television networks.
News Corp. spokesman Jack – Horner (JackHorner) declined to comment on.
to establish their own media empire in the process, Turner and Murdoch had been rivals for many years. News Corp. in 1996 created the Fox News (FoxNews) to compete with CNN cable television network, and ultimately overshadowed the latter. Turner had Murdoch strategy is to criticize, he pointed out that in 2003, Murdoch was an accomplice to war in Iraq the United States, “The reason is that newspapers and television stations for his benefit.” He then said: “I call it Murdoch War.”
But Turner was in 2010 that he and Murdoch have been repaired, and called it “the only thing I the real adversary. ” He said: “We have decided to stop arms, no longer criticize one another.” (Civil and military / compile)
SAN FRANCISCO, Sept. 20 morning news, social networking site Facebook and Time Warner (TimeWarner) on Monday released a children and young people to prevent bullying behavior of the application. Cartoon Network Time Warner subsidiary (CartoonNetwork) last year began to “stop bullying: a case saying” application campaign.
Beijing the morning of September 20, news, social networking site Facebook and Time Warner (TimeWarner) on Monday released a children and young people to prevent bullying behavior of the application.
The application is also seen as Facebook and Time Warner earlier this summer to form a close partnership further embodiment. Facebook and Time Warner will use its public influence and improve people concern for bullying behavior, encourage children and young people to stop such actions.
The application is named “Stop bullying: there is, then cried” (StopBullying: SpeakUp), mainly for the Facebook web site or offline users may be witnessed bullying. The application provides the appropriate resources to stop and let children and adults to make online promises, witnessed the bullying must say.
As of Monday afternoon, about 3,600 people online to make a commitment, of which 2600 adults.
subsidiary of Time Warner, Cartoon Network (CartoonNetwork) last year began to “stop bullying: a case saying” application campaign. (Biao He)
IOS paid applications list this week have been packed with the new list of applications, these new works, including a list of classic puzzle games, fighting games, books and other types. Although in practice there are a lot of new work constantly appear, but most of the new work is only the top 50 in the lower rank. Gameloft games limit because a large number of reasons for price to 0.99 dollars, most of the front row this week, Gameloft occupied by these works.
iPhone paid applications list the new list works:
PuffleLaunch: from the Disney World one of the most famous of the research and development, in September 15 release of this new work, and now, both in the iPhone or iPad are given on the sixth rank. In which players control a wish from a thief driving a flying robot crab hands to regain his stolen snacks. And to this end, players need to constantly sprayed from the air jet to another jet in the process to collect props. On the other hand, as all proceeds will be vested in the Club Penguin. The price of 0.99 dollars for
Destinia: This from the South Korean mobile phone distributor Gamevil published in the September 15 issue of this new work, it is ranked 34th. This is a price of 0.99 dollars in RPG games, players play a game against the corruption of the empire because of prison who, in the game should strive to escape the prison and allowed to correct the problem in this country on track. The game offers a number of options allow players to design their own role, original articles, as well as and play against other players. After the game will support the use of the updated version of virtual currency payment. By the South Korean mobile game publisher Gamevil issued by the company in June of the outsourcing game developers for a $ 50 million investment. The price of 0.99 dollars for.
Street Fighter: The work week is ranked No. 35 by the famous Japanese game developer and publisher Capcom Street Fighter are developed. This is a classic arcade game ported to the same name to iOS platform works. Like the original, this is a talk about the three main characters in order to save kidnapped Jessica down in front of all the bad guys cross-action game. No. 15, issued in the game. In addition to the game because as nostalgia than welcome by the old players, the former are for the 21 low-cost price to 0.99 U.S. dollars is another main reason.
MonstersAteMyCondo-MonstersAteMyCondo is also a new release in 15 games. The price of 0.99 dollars on the iPhone puzzle game ranked No. 39 this week, in the first 31 iPad application ranked by AdultSwimGames and PikPokGames joint development, the former is a CartoonNetwork game developers, which is a iOS and the Android platform game developers. In this particular game, players need to match a good way to build a skyscraper to feed the huge colorful monsters, lest they destroy the world.
Nottouchmyphone: iPhone as a new final ranking, the first 42 of Nottouchmyphone. U.S. $ 0.99 This application is a quasi-security security software, although not as appearing on the list that in the past that only players on the screen will display a lock screen keyboard software, like pit father, this Software models provide only two functions, allowing users to design and define the alert tone unlock pattern, when the phone is picked up when the alarm will sound, and only enter the correct unlock command can stop the alarm. This works in the updated September 8, a new alarm. Web application developers LideraFX by the Spanish development
iPad new payment applications for the list ranking
BopIt! foriPad: This week new iPad ranked first in the overall ranking for the first 20, this BopIt! foriPad by the world second largest game developers-ElectronicArts developed, 15 are released. Is a children game of the electronic version of the same name. This exercise is a response to the game, players need game instructions to click on the iPad, beat, or so rotating around the rotation. In addition, there are several other action games waiting for players after the completion of these can unlock, the game is now priced at 2.99 dollars
BoboExploresLight: Next, this total number 32 of the new work is a children electronic books, which is a main optical around and memorize the basics of education, mainly including photosynthesis, lightning and color. As a iPad application, there is also a guide called Bobo and some interactive holographic video, patterns, games to learn more content. This application is a developer GameCollage iOS platform casual games and children educational books as the main developer of the project. The application price is 6.99 dollars.
CowboyGunsHD: the game ranked No. 36, is a subsidiary of EA new game developed by Chillingo CowboyGunsHD. This game is a dual joystick control of the shooting game, players play the cowboy and four notorious gangster to fight. In addition to offering several game modes, this is also a common application, iPhone and iPad can be used. Now the price is 2.99 dollars.
EpicWarTDPro: iPadEdition: Section 37 of this application You may feel familiar, because EpicWarTD a few months ago had boarded the iPad application ranking. And now, out of the EpicWarTDPro. Old version is now a free sci-fi tower defense game, providing players the five surreal tower to face the 14 kinds of enemy invasion. The developers of this game is a small studio called AMTGames, it works also include, BestFreeGames-DailyMagazine and StackerOnline.
NFL2011HD: Finally a new list of games, is ranked No. 49 NFL2011HD. This is the game today introduced the first time in a work published last year, released October 23. But still after a few Gameloft games in the recent rise on the iOS top 50 paid applications list. This is a classic football game, in addition to supporting the basic passing, blocking, rushing and other operations, but also supports more than 200 tactics for editing and creating their own tactics. Now the game as Gameloft “welcome school activities Sale only 0.99 dollars.
Long history of the Japanese camera brand Ricoh (Ricoh) the pace of introduction of new machines has been very calm. According to foreign intelligence to master the latest site PhotoRumors intelligence, rumor Ricoh will finally officially released September 15 signature model GR-Digital fourth generation. And the summer of 2009 compared to the third generation, these flow specifications of GR-DigitalIV be a small facelift, but the direction seems to have improved quite practical. For example, the new machine has finally joined the former generations are not anti-shake sensor and built-in ND by light microscopy, originally called the top of the LCD screen of 1.2 million to upgrade the factors like, are also being machine body in front of the phase difference AF sensors added. Other specifications are generally the same with the third-generation models.
Ricoh GR-DigitalIV key feature (rumored)
● 1/1.7 “type CCD sensor 10 million prime components like
< br /> ● equipped with a large aperture wide-angle equivalent 28mmF1.9 fixed focus lens
● optical structure of six groups of eight
● displacement compensated sensor anti-shake < br />
● updated GREngine digital image processor
● increasing the front phase difference AF sensor body
● 3 英寸 1.2 million elements like LCD Screen
● Shutter speed range: 180 seconds -1/2000 seconds
● Support 640×480 @ 30fps video recording function
(● red dot marked The difference with the previous generation)
but I also did not have the 100% accuracy of this information, or look at all these days is really movement Ricoh, and the official release of the information-based , we make reference to look like.