Jetion Solar Share Discussion Threads

[jwe] 28/5/2010 10:18

Evaluate-I do not think it was possible to know how severely the exchange rate was going to impact on 2010.At the time,based on what we knew, selling yesterday,would have been wrong.If everything else was equal BARRING the exchange rate impact going forward these would have been marked up heavily i believe this am.I too sold out of a 20k position and can only see these drifting lower over the following weeks.It is entirely possible that they will lose money in 2010 if the Euro keeps heading south.On the plus side they did have $40M in cash.

[evaluate] 28/5/2010 10:05

The 20K was mine. Did consider selling yesterday but was put off by the price rise.

Kicking myself rather hard now!

[cool_hand] 28/5/2010 10:03

who buys 50 shares?

[matt123d] 28/5/2010 09:58

20k at 68p final worked seller cleared, a small about of fresh demand should push this now.

[jwe] 28/5/2010 09:44

The drop in T/O was almost entirely due to the very poor H1 which was already factored in

[cliley454] 28/5/2010 09:34

The drop is overdone imho. The share price should recover.
Off topic take a look at MPS, market cap just £400k. I've posted some research on the bb.

[cool_hand] 28/5/2010 09:27

Turnover was down 29.5% to US$176.8m (2008: US$250.9m) as a result of a fall in both cell and module average selling prices from US$3.87 per Watt for 2008 US$1.73 per Watt.

[jwe] 28/5/2010 09:24

cool-hand-I think it is a bit unfair to critise their `ahead` statement.At that time they could not possibly have known that the Euro would devalue so much.
This looks purely a gamble on exchange rates currently.Virtually all funds/analysts are betting the euro down against the dollar.Things could get a lot worse i fear.If the HK listing were pulled a 50% drop FROM HERE would be very likely imo.
A shame because the company`s only mistake it seems is not hedging to reduce the risk.Events outside its control are strangling it.Having said that ramping up production now seems questionable

[evaluate] 28/5/2010 09:19

Anybody buying them even for a £1/share wouldn't end up paying too much cash.

Their balance sheet is worth more than the current share price in net tangible assets.

[davidwilkin] 28/5/2010 09:18

wat a dog, i couldnt sell until 77p with iii, looks like i'm too stuck with a long term dog that i hope may recover to 80p ish.

[matt] 28/5/2010 09:18

Same here. Disappointed.

[cool_hand] 28/5/2010 09:16

Couldn't get much worse really, must remember never trust anyone, after the statement "ahead of expectations", what happened? Looks like they will make a loss Q2 and then onwards. As for the HK listing, they are are making a cash call, so dilution. I am out at a small loss, didn't hold that many. A real disappointment, had high hope for JHL.

[liyangnano] 28/5/2010 09:13

JHL is just too small solar companies now. Hard to survive in china, maybe they should sell themselves to other big players, rather than listing in HK.

[matt] 28/5/2010 09:03

It now seems a bet on the markets not the company. If they get the capacity going and the markets turns it will be a double boost but I don't see the Euro recovering quickly. I'm not sure the HKSE will save them either. If the wealth of some chinese companies is built on Euro imports quite a few will struggle now.

[jwe] 28/5/2010 09:00

I too am out
The results(for 2009)were well beyond my expectations.However i too had not fully appreciated the impact of the fall in value of the euro.THings are obviously bad now,but are going to get much worse.To me it looks like a breakeven situation for H1 2010 which could well move into a loss for H2 unless they do something drastic.FWIW there is a buyer currently if you want to bail out.I took a 20% hit which doesn`t sound to bad but i was convinced there would be at the very least a 100% profit.These imo will move lower over the coming weeks.
If it wasn`t for the HK listing they would go much,much lower

[chrisbrown71] 28/5/2010 08:59

New RNS doesn't have any significant changes. It is changing selling prices listed 'per MW' to be listed 'per Watt', in two paragraphs only.

Old: e.g. US$1.73 per MW

New: Turnover decreased by 29.5% due to a downturn by an average of 55% in average selling price from US$3.87 per Watt to US$1.73 per Watt between 2008 and 2009. Some 77% (2008: 76%) of our turnover is represented by sales of solar modules, which are sold mainly into Europe. The balance of our sales in both years was of solar cells and these were sold mainly into China. Total sales of modules accounted for 65.7 MW, at an average selling price of EUR1.48 per Watt, during the year compared with 45.2 MW, at an average selling price of EUR2.78 per Watt in 2008.

[stegrego] 28/5/2010 08:56

You are basically betting on the euro then.

[evaluate] 28/5/2010 08:55

what percentage of the world's capacity is made in China?

presumably is the same for all chinese manufacturers.

If they dominate the market, then prices will have to rise fairly shortly.

[edmundshaw] 28/5/2010 08:54

Well done Steg. Not my greatest return ever here - I had little idea about the effect the euro weakness would have here (at least short/medium term). That aspect, with a strong Yuan likely, is a concern. I really should have done more careful research...

Have to smile at one para in the results from the chairman: "I also thank our investors whose long term loyalty and support has motivated us through difficult times and given us confidence for the future." I'm not sure he was referring to us... lol

[matt123d] 28/5/2010 08:50

In for some here, bouncing off the 50wma and 200dma.

There's good growth in this company, just depends on the Euro.

[martincc] 28/5/2010 08:49

Second copy of results issued to replace 7:00 copy, can't see any obvious difference.

[stegrego] 28/5/2010 08:47

Totally out of the companies hands - they have done nothing wrong.

Hopefully Euro will turn.

[martincc] 28/5/2010 08:42

Tried selling throught TDW and couldn't get a price at any size think i am now stuck with along term investment

[stegrego] 28/5/2010 08:36

Have to say i was pleasantly suprised to get 88p, as i thought it would open 20%+ down.

Having said that, i only had 5000 shares, so not too bad to move, although phone only.

[edmundshaw] 28/5/2010 08:18

Have to say I'm out today too. But the market could easily go too far to the downside.

In the meantime, other fish...