Daqo New Energy Corporation, a Chinese manufacturer of polysilicon, has received a notification from the New York Stock Exchange (NYSE) claiming that the company does not meet its price criteria.
Daqo New Energy released its second quarter 2012 financial earnings, which saw the company post revenues of US$30.6 million, down from US$34 million in Q1 2012. Additionally, Daqo’s Q2 2012 polysilicon shipments were approximately 1,028MT, while its PV module shipments amounted to 3.6MW. Wafer shipments for the second quarter were 11.2MW.
Management at Applied Materials spent little time discussing the performance of its Energy and Environmental Solutions (EES) division results, which houses the majority of its solar sector equipment and services to the PV industry. The company reported EES sales in its financial third quarter that were almost flat with the previous quarter at US$77 million. However, new orders decreased significantly to only US$35 million, compared to US$62 million in the prior quarter.
To avoid further drains on its battered balance-sheet, REC said it would start winding-up REC Wafer Norway via bankruptcy proceedings. The solar wafer operations at two sites in Glomfjord and at Herøya have already been permanently closed down. The bankruptcy of REC Wafer Norway was said to not have an effect on REC Solar and REC Silicon operations, which continue to operate as normal.
New orders for PV equipment suppliers recently reached a critical low point when SEMI posted a PV book-to-bill ratio of 0.40 for the first quarter of 2012. However, market conditions look to have worsened in the second quarter after leading equipment supplier GT Advanced Technologies (GTAT) reported new order intake of only US$13.8 million, while a negative adjustment to its strong order backlog totalled US$31.9 million.
Patent infringement and claims of IP theft by DuPont, on rival materials supplier Heraeus and customer SolarWorld, were put in question by the accused as the legal spat continued to be played-out in public. Heraeus said in a strongly worded statement that DuPont was attempting to threaten customers over possible legal action, while Heraeus believes DuPont is attempting to discredit Heraeus' products with misleading information.
With insolvency protection proceedings underway, not surprisingly, centrotherm photovoltaics have said it would delay its Annual General Meeting and the first-half year financial results.
After a rebound in polysilicon sales in the first quarter of 2012, Wacker’s polysilicon sales declined 22% in the second quarter due to customers delaying or reducing delivery quantities. Sales in the second quarter reached €286.8 million, down from €366.6 million in the prior quarter. However, the major reason for the sales decline was due to the substantial reduction in polysilicon prices, which will also result in lower sales being achieved this year than in 2011, according to the company.
PV module encapsulant materials supplier, STR Holdings has warned it will not meet previously guided second quarter 2012 revenue expectations. The company previously guided second quarter sales to be flat with the first quarter, being in the range of US$31-US$33 million, but revised this down approximately US$25 million. Management said that demand was weaker than expected.
Sunways’ management board approved the conclusion of, and entered into, an agreement with Deutsche Solar in order to resolve the early termination of two long-term contracts, originally concluded in 2006 and 2007, that provide for the supply of PV wafers by Deutsche Solar.
