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Gabelli基金經(jīng)理John Segrich講到他已經(jīng)做空晶澳太陽(yáng)能和寶威電源，因?yàn)榈聡?guó)和意大利計(jì)劃減少太陽(yáng)能補(bǔ)助。
Segrich沒(méi)有透露他賣(mài)空了多少，并講到市場(chǎng)已經(jīng)充滿(mǎn)同類(lèi)產(chǎn)品。根據(jù)公司網(wǎng)站信息透露，晶澳太陽(yáng)能主要生產(chǎn)太陽(yáng)能電池，寶威電源是世界第二大太陽(yáng)能轉(zhuǎn)換器制造商（總部位于加利福尼亞）。
“新市場(chǎng)的爭(zhēng)斗將讓價(jià)格大幅下降，我們已經(jīng)考慮到這種情況。“Segrich在電話(huà)采訪(fǎng)中講到（Segrich管理著大約4000萬(wàn)美元的Rye 基金）。
意大利政府計(jì)劃減少光伏發(fā)電的支持，因去年已完成6GW的裝機(jī)容量，是2009年全部產(chǎn)能的5倍。最大的市場(chǎng)德國(guó)也將在7月減少補(bǔ)助。The Bloomberg Global Leaders Solar Index自2月來(lái)跌幅達(dá)15%。
“可能接下來(lái)的一年意大利不需要運(yùn)送任何光伏組件，現(xiàn)在盈利的公司可能在2季度掙不到任何錢(qián)。”Segrich講到。
晶澳太陽(yáng)能與合肥市簽訂投資協(xié)議將在2012為其增加3GW的產(chǎn)能。晶澳太陽(yáng)能四季度的盈利從之前的330萬(wàn)美元激增至1.18億美元，但它的股價(jià)自2月來(lái)下跌大約20%。
自2月4日管理層宣布一季度銷(xiāo)售將低于分析師預(yù)期來(lái)寶威電源下跌了大約34%。Segrich透露這兩個(gè)公司是他的最大的空頭頭寸之一。
Gabelli & Co. fund manager John Segrich said he has shorted JA Solar Holdings Co. and Power-One Inc. (PWER) as Italy and Germany plan cuts to solar-power subsidies.
Segrich, who didn´t disclose how much borrowed stock he sold, said some of the best markets for their products have too much supply. Shanghai-based JA Solar makes solar cells, and Power-One of California is the second-largest manufacturer of solar-power inverters, according to the company’s website.
“It’s going to take prices collapsing to open up new markets,” Segrich, who manages about $40 million at Rye, New York-based Gabelli, said in a telephone interview yesterday. “We’ve got the hard-landing scenario.”
The Italian government plans to reduce incentives for photovoltaic power generators in June as developers installed as much as 6 gigawatts of capacity last year, five times its total potential at the end of 2009. Germany, the world’s biggest market, is set to lower subsidies in July. The Bloomberg Global Leaders Solar Index has lost about 15 percent since Feb. 18.
“You may not need to ship any more modules into Italy for the rest of the year,” Segrich said. “You have companies that are earning money now that might not earn any money in the second quarter.”
JA Solar said yesterday it agreed to set up a new factory in the Chinese city of Hefei that will add 3 gigawatts to its annual production capacity from 2012. The company saw profit surge to $118.7 million in the fourth quarter from $3.3 million in the year-earlier period. Its stock has slumped about 20 percent since Feb. 18.
Segrich, who manages one hedge fund and one mutual fund, said he sees solar panels selling for between $1.65 and $1.70 a watt compared with $1.90 in the fourth quarter. He forecast panel prices will dip below $1.50 per watt by the end of June.
Power-One has lost about 34 percent since Feb. 4 when its management said first-quarter sales will trail analysts’ expectations. Segrich said the two companies are among his biggest short positions.
Segrich沒(méi)有透露他賣(mài)空了多少，并講到市場(chǎng)已經(jīng)充滿(mǎn)同類(lèi)產(chǎn)品。根據(jù)公司網(wǎng)站信息透露，晶澳太陽(yáng)能主要生產(chǎn)太陽(yáng)能電池，寶威電源是世界第二大太陽(yáng)能轉(zhuǎn)換器制造商（總部位于加利福尼亞）。
“新市場(chǎng)的爭(zhēng)斗將讓價(jià)格大幅下降，我們已經(jīng)考慮到這種情況。“Segrich在電話(huà)采訪(fǎng)中講到（Segrich管理著大約4000萬(wàn)美元的Rye 基金）。
意大利政府計(jì)劃減少光伏發(fā)電的支持，因去年已完成6GW的裝機(jī)容量，是2009年全部產(chǎn)能的5倍。最大的市場(chǎng)德國(guó)也將在7月減少補(bǔ)助。The Bloomberg Global Leaders Solar Index自2月來(lái)跌幅達(dá)15%。
“可能接下來(lái)的一年意大利不需要運(yùn)送任何光伏組件，現(xiàn)在盈利的公司可能在2季度掙不到任何錢(qián)。”Segrich講到。
晶澳太陽(yáng)能與合肥市簽訂投資協(xié)議將在2012為其增加3GW的產(chǎn)能。晶澳太陽(yáng)能四季度的盈利從之前的330萬(wàn)美元激增至1.18億美元，但它的股價(jià)自2月來(lái)下跌大約20%。
自2月4日管理層宣布一季度銷(xiāo)售將低于分析師預(yù)期來(lái)寶威電源下跌了大約34%。Segrich透露這兩個(gè)公司是他的最大的空頭頭寸之一。
Gabelli & Co. fund manager John Segrich said he has shorted JA Solar Holdings Co. and Power-One Inc. (PWER) as Italy and Germany plan cuts to solar-power subsidies.
Segrich, who didn´t disclose how much borrowed stock he sold, said some of the best markets for their products have too much supply. Shanghai-based JA Solar makes solar cells, and Power-One of California is the second-largest manufacturer of solar-power inverters, according to the company’s website.
“It’s going to take prices collapsing to open up new markets,” Segrich, who manages about $40 million at Rye, New York-based Gabelli, said in a telephone interview yesterday. “We’ve got the hard-landing scenario.”
The Italian government plans to reduce incentives for photovoltaic power generators in June as developers installed as much as 6 gigawatts of capacity last year, five times its total potential at the end of 2009. Germany, the world’s biggest market, is set to lower subsidies in July. The Bloomberg Global Leaders Solar Index has lost about 15 percent since Feb. 18.
“You may not need to ship any more modules into Italy for the rest of the year,” Segrich said. “You have companies that are earning money now that might not earn any money in the second quarter.”
JA Solar said yesterday it agreed to set up a new factory in the Chinese city of Hefei that will add 3 gigawatts to its annual production capacity from 2012. The company saw profit surge to $118.7 million in the fourth quarter from $3.3 million in the year-earlier period. Its stock has slumped about 20 percent since Feb. 18.
Segrich, who manages one hedge fund and one mutual fund, said he sees solar panels selling for between $1.65 and $1.70 a watt compared with $1.90 in the fourth quarter. He forecast panel prices will dip below $1.50 per watt by the end of June.
Power-One has lost about 34 percent since Feb. 4 when its management said first-quarter sales will trail analysts’ expectations. Segrich said the two companies are among his biggest short positions.
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