11/03/2011 12:25
[I-bank focus] Daiwa rates GCL Poly (03800) "buy" & HK$4.88

Daiwa Research initiated coverage of GCL Poly
Energy (03800) with "buy" rating and a target price of HK$4.88.
The house said the rating reflects its view of high earnings growth potential. It forecast 2011 net profit growth for GCL of 100% YoY through market-share gains, and high entry barriers to becoming a low-cost polysilicon maker with decent quality products. Daiwa expects year-on-year ROE improvements likely for GCL in 2011. It believes the solar industry is undergoing a transition, with demand likely to shift from being policy-driven to economics-driven, and that low-cost producers are the transition enablers.
Daiwa said low-cost polysilicon makers should gain market share fast when the polysilicon price drops, but it expects the real contest to start from 2013, when low-cost polysilicon supply to meet demand worldwide. (KL)
Related Stocks: ： 03800

http://www.etnet.com.hk/www/tc/news/...d=ETE210311145

GCL Poly Energy mit nachbörslichen Zahlen!

GCL-Poly Posts HK$4 Billion Profit
Thursday, 17 March 2011 18:13 PDF Print E-mail
User Rating: / 0
PoorBest

Theindonesiatoday.com - Solar panel, wafer and poly-silicon producer GCL-Poly Energy Holdings Limited booked net profit of HK$4.02 billion last year against net loss of HK$199.7 million in 2009 on strong sales growth.

GCL-Poly, listed on HK Stock Exchange, reported sales revenue of HK$18.47 billion last year, skyrocketed 273.7% from 2009, while gross profit even higher by 356.9% to HK$6.8 billion.

Solar wafer dominated its sales revenue with HK$9.18 billion, followed by poly-silicon (HK$4.29 billion), electricity, steam, and coal.

GCL-Poly, China's largest polysilicon producer, has further strengthened its position to become the world's largest producer of wafer for solar panel and the leading global manufacturer of silicon materials. By the end of November 2010, GCL-Poly's annual wafer production reached 3.5 GW, while polysilicon capacity reached 21,000 tons per annum.

The total estimated installed capacity of solar farms around the world last year was over 16 GW compared to 7.2 GW in 2009. Germany remains the world's largest photovoltaic market, with an installed capacity of exceeding 8GW. GCL-Poly believes global capacity will exceed 20 GW this year. (Theindonesiatoday.com)


Read more about Solar by theindonesiatoday.com

http://theindonesiatoday.com/energy-...on-profit.html

Zahlen GCL Poly Energy, neues 3-Jahreshoch, momentan +5,5% auf 4,16 HKD

GCL war zu Börsenbeginn in HongKong auf 4,30 HKD und somit auf neuem 3-Jahreshoch!

Es gab neue Kursziele von Goldman Sachs(5), Nomura(5,3) und Citibank(5,2)

Revenue HK$18,471.9 million +273.7%
Gross profit margin -solar business 44.4%
Net profit HK$4,023.6 million
EPS 26.01 HK cents
Dividend 5.1 HK cents

Bald größter Silizium(vor Wacker Chemie) und Solarwaferproduzent(vor Yingli, Suntech und Co) weltweit!



Outlook for Solar Business
Polysilicon
•Ramping up our production capacity to 65,000 MT by mid-2012 and will be the world’s largest manufacturer
•Continuing to reduce production cost
•Benefiting after the PRC government has set out stringent standards for polysiliconcapacity expansion
•Expected production in 2011 to be about 31,000 MT
Wafers
•Ramping up to 6.5 GW of capacity by end of 2011 and will be the world’s largest manufacturer
•Further increase of crucible capacity and slurry recovery
•Use of diamond wire and more efficient use of steel wire
•Expected production in 2011 to be about 5.5 GW
Solar farm
joint venture
•Invest in solar farm opportunities in US, Europe and China, India, South Africa & Australia
•Projects with target IRR of 12-15%
37


*DJ GCL-Poly Energy Target Raised To HK$5.00 Vs HK$4.80 By GS
2011-03-18 08:44:00


*DJ GCL-Poly Energy Target Raised To HK$5.20 Vs HK$4.60 By Citi
2011-03-18 09:24:00

18/03/2011 10:27
[I-bank focus] Nomura raises GCL Poly (03800) TP to HK$5.3


http://bigcharts.marketwatch.com/cha...579&mocktick=1