Key Developments: LDK Solar Co Ltd (LDK)
1.62USD
23 May 2013
$-0.05 (-2.71%)
$1.66
$1.52
$1.74
$1.47
3,080,720
1,924,572
$3.10
$0.71
Latest Key Developments (Source: Significant Developments)
Canadian Solar Inc Wins Court Case In Relation To Contract Dispute With LDK Solar Co Ltd
Canadian Solar Inc announced that Jiangsu Suzhou Intermediate Court dismissed the request by LDK Solar Co Ltd to enforce the arbitration award decision by the former Shanghai branch of the China International Economic and Trade Arbitration Commission in the amount of RMB 248.9 million (approximately USD40.1 million). This arbitration award relates to wafer supply contracts entered into between Canadian Solar and LDK in October of 2007 and June of 2008, and subsequently terminated. The total amount of the award includes the initial deposit of RMB 60.0 million (approximately USD9.7 million), but excludes approximately RMB 2.0 million to cover arbitration expenses. Full Article
LDK Solar Co Ltd Issues Q1 2013 Revenue Guidance Below Analysts' Estimates
LDK Solar Co Ltd announced that for the first quarter of 2013, it estimates its revenue to be in the range of $80 million to $100 million. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report revenue of $167 million for the first quarter of 2013. Full Article
LDK Solar Co Ltd Signs New Module Supply Contract
LDK Solar Co Ltd announced that it has signed a module supply contract with EA Solar Nakornsawan Co., Ltd, a developer of photovoltaic (PV) projects in Thailand. Under the terms of the agreement, LDK Solar will provide 63 megawatts (MW) of PV modules with weekly shipments of approximately 6.3 MW expected to commence in August 2013. Full Article
LDK Solar Co Ltd Updates On Purchase Agreement For LDK Anhui With Shanghai Qianjiang Group
LDK Solar Co Ltd announced that it continues to work with the relevant governmental agencies on the review and approval of the purchase agreement for LDK Anhui. The purchase agreement was announced on January 2, 2013, with Shanghai Qianjiang Group. According to the terms of the agreement, Qianjiang Group agreed to purchase all shares of LDK Anhui, located in Hefei City, for approximately RMB25 million and release the guarantee LDK Solar provided to LDK Anhui and subsidiaries within 12 months, as well as compensate LDK Solar for any loss associated with such guarantee, prior to release. The planned closing date for this purchase agreement was originally set for March 31, 2013. Full Article
LDK Solar Co Ltd Signs Share Purchase Agreement with Fulai Investment
LDK Solar Co Ltd announced that it has entered into a share purchase agreement dated January 21, 2013 with Fulai Investments Limited, which has agreed to purchase 17,000,000 newly issued ordinary shares of LDK Solar, at a purchase price of USD1.83 per share with an aggregate purchase price of USD31,110,000, subject to the terms and conditions of the share purchase agreement, including a lock-up for 180 days from the closing date of the contemplated transactions. Pursuant to the share purchase agreement, the parties will endeavor to fulfill the closing conditions to consummate the transactions prior to February 28, 2013. Fulai Investments also has the right to designate two non-executive directors to the LDK Solar board upon consummation of the transactions. The net proceeds will be used for general corporate purposes in LDK Solar's operations. Full Article
LDK Solar Co Ltd Announces Purchase Agreement For LDK Anhui With Shanghai Qianjiang Group
LDK Solar Co Ltd announced that it has signed a purchase agreement with Shanghai Qianjiang Group in which Qianjiang Group has agreed to purchase all shares of LDK Anhui, located in Hefei City, for approximately RMB25 million. According to the terms of the agreement, Qianjiang Group will release the guarantee LDK Solar provided to LDK Anhui and subsidiaries within 12 months, as well as compensate LDK Solar for any loss associated with such guarantee, prior to release. Full Article
LDK Solar Co Ltd Issues Q4 2012 Revenue Guidance Below Analysts' Estimates; Lowers FY 2012 Revenue Guidance
LDK Solar Co Ltd announced that for fourth quarter of 2012, it expects revenue to be in the range of $230 million to $290 million. For fiscal 2012, it expects revenue to be in the range of $950 million to $1 billion. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $552 million for fourth quarter of 2012 and revenue of $1.41 billion for fiscal 2012. Full Article
LDK Solar Co Ltd Issues Q3 2012 Revenue Guidance Below Analysts' Estimates; Reaffirms FY 2012 Revenue Guidance-Conference Call
LDK Solar Co Ltd announced that for the third quarter of fiscal 2012, LDK Solar estimates its revenue to be in the range of $220 million to $260 million. For fiscal 2012, LDK Solar estimates its revenue to be in the range of $1.1 billion to $1.5 billion. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $331 million for the third quarter of 2012; revenues of $1.5 billion for fiscal 2012. Full Article
LDK Solar Co Ltd Lowers FY 2012 Revenue Guidance; Issues Q2 2012 Revenue Guidance Below Analysts' Estimates-Conference Call
LDK Solar Co Ltd announced that based upon current business conditions for the second quarter of 2012, it estimates revenue to be in the range of $220-$270 million. For fiscal 2012, the Company estimates revenue in the range of $1.5-$2.0 billion. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $345 million for the second quarter of 2012; revenue of $2.0 billion for fiscal 2012. Full Article
LDK Solar Co Ltd Signs Three Multi-Year Photovoltaic Project Development Agreements
LDK Solar Co Ltd announced that the Company has signed three multi-year engineering, procurement, and construction (EPC) agreements. All three projects are located in the Gansu province of the People's Republic of China. The first project in Jiuquan City will consist of 200 megawatts (MW) annually, the second project in Jayuguan City will consist of 200 MW over three years and the third project in Zhangye City will consist of 200 MW over two years. Full Article
UPDATE 2-Indebted solar co LDK working on $324 mln credit line
* Says reduced workforce by 4113 employees in the fourth quarter
Earnings vs. 
Estimates
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