China Sunergy

China Sunergy schließt Vertrag mit indischer Ajit Solar über die Liefeung von 12MW multi-kristalline Solarzellen.

Der CEO von China Sunergy, Dr. Allen Wang, erklärte: "Unsere Partnerschaft mit Ajit Solar markiert einen wichtigen Schritt für China Sunergy imr wachsenden indischen Solarmarkt. Trotz der schwierigen Marktbedingungen haben wir auch weiterhin Aufträge für unsere Solarzellen. Wir freuen uns auf eine enge Zusammenarbeit mit Ajit Solar und der weiteren Durchdringung der asiatischen Märkte. "

China Sunergy Signs Sales Agreement With Ajit Solar
Tuesday December 23, 8:00 am ET
Signifying the Company's first move into the Indian solar market

NANJING, China, Dec. 23 /PRNewswire-Asia/ -- China Sunergy Co., Ltd. (Nasdaq: CSUN - News), a specialized solar cell manufacturer based in Nanjing, China, today announced that it has entered into a one-year agreement with Ajit Solar Pvt Ltd ("Ajit Solar"), a privately-owned module manufacturer based in Jaipur, India.

Under the terms of the agreement, China Sunergy will supply and deliver a total volume of 12MW of multi-crystalline solar cells. It is expected that China Sunergy will deliver 5MW to Ajit Solar in the first half of the year, and the remaining 7MW in the latter half.

Commenting on the agreement, CEO of China Sunergy, Dr. Allen Wang, said: "Our partnership with Ajit Solar marks a significant step for China Sunergy as we venture into the growing Indian solar market. Despite the challenging market conditions, we continue to receive orders for our solar cells. We look forward to working closely with Ajit Solar and to further penetrating the Asian markets."

Located in Jaipur, India, Ajit Solar is a privately owned company of the Gehlot Group which manufactures world class photovoltaic modules.  

marktumfeld schlagen sih positive nachrichten nicht auf den kurs nieder. jedenfalls scheint das unternehmen immer noch "gesund" zu sein.  

 

Corporate News
Feb 23 2009
China Sunergy to Announce Fourth Quarter and Full Year 2008 Results on March 19, 2009



NANJING, China, Feb. 23 /PRNewswire-Asia/ -- China Sunergy Co., Ltd. (Nasdaq: CSUN), a specialized solar cell manufacturer based in Nanjing, China, today announced that it will report financial results for its fourth quarter and full fiscal year ended December 31, 2008 on March 19, 2009 prior to the opening of the US market.

China Sunergy will host an earnings conference call at 5:00am (Pacific Time) / 8:00am (Eastern Time) / 8:00pm (Beijing/Hong Kong) on March 19, 2009. The management team will be on the call to discuss results and business highlights of the quarter and full year.

   The dial-in details for the live conference call are as follows:

    U.S. toll free number: +1-800-260-8140
    International: +1-617-614-3672
    Passcode: 21001471
For those who cannot access the live broadcast, a replay will be available online and from two hours after the end of the call until April 3, 2009. Please dial:

    U.S. toll free number: +1-888-286-8010
    International: +1-617-801-6888
    Passcode: 13065814
A webcast of the call and replay with be available online at http://www.chinasunergy.com.

About China Sunergy Co. Ltd

China Sunergy Co., Ltd. (Nasdaq: CSUN) ("China Sunergy") is a specialized manufacturer of solar cell products in China. China Sunergy manufactures solar cells from silicon wafers utilizing crystalline silicon solar cell technology to convert sunlight directly into electricity through a process known as the photovoltaic effect. China Sunergy sells solar cell products to Chinese and overseas module manufacturers and system integrators, who assemble solar cells into solar modules and solar power systems for use in various markets. For more information please visit http://www.chinasunergy.com.

   For further information, please contact:

    Financial Dynamics
    Peter Schmidt
    Tel:   +86-10-8591-1953
    Email: peter.schmidt@fd.com

SOURCE  China Sunergy Co., Ltd.ST:  China  

 

was beim derezitigen marktumfeld und krise nachvollziehbar ist, der kurs scheint sich trotzdem zu erholen.  

China Sunergy Signs 35MW Sales Framework Agreement and 5MW Sales Contract to Supply the Korean Market
NANJING, China, March 25 /PRNewswire-Asia/ -- China Sunergy Co., Ltd. (Nasdaq: CSUN), a specialized solar cell manufacturer based in Nanjing, China, today announced that it has entered into a 35MW solar photovoltaic products framework agreement, and a 5MW solar photovoltaic products sales contract under the 35MW solar photovoltaic products framework agreement, with Global Service LTM. L.L.C. ("GSL") in Taiwan.

The framework agreement outlines the potential supply of up to 35MW of solar photovoltaic products from China Sunergy to GSL from March through until December 2009. GSL will then supply the solar photovoltaic products to the customer in Korea.

With respect to the specific delivery during the term of the framework agreement, sales contracts will be negotiated and entered into between the parties to finalize the products to be delivered, and the quantity and price of the products. The first 5MW sales agreement has been signed, with China Sunergy to provide 5MW of solar photovoltaic products to GSL in the second quarter of 2009, for eventual shipment to Korea.

The CEO of China Sunergy, Dr. Allen Ruennsheng Wang, remarked: "Signing this framework agreement represents progress in China Sunergy's recently discussed strategy of geographically diversifying our customer base. Although this framework agreement is not binding, we are pleased to have signed the first 5MW sales contract according to the mutual understanding outlined in the framework agreement, an indication of the solid foundations we have set for an ongoing partnership. We seek to continue this momentum through the securing of additional sales agreements for our solar products within key Asian markets including Korea."

About China Sunergy Co., Ltd.

China Sunergy Co., Ltd. (Nasdaq: CSUN) ("China Sunergy") is a specialized manufacturer of solar cell products in China. China Sunergy manufactures solar cells from silicon wafers utilizing crystalline silicon solar cell technology to convert sunlight directly into electricity through a process known as the photovoltaic effect. China Sunergy sells solar cell products to Chinese and overseas module manufacturers and system integrators, who assemble solar cells into solar modules and solar power systems for use in various markets. For more information please visit http://www.chinasunergy.com .

Safe Harbor Statement

This announcement contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact in this announcement are forward-looking statements. These forward-looking statements and are based on current expectations, assumptions, estimates and projections about the company and the industry, and involve known and unknown risks and uncertainties, including but not limited to, the company's ability to raise additional capital to finance the company's activities; the effectiveness, profitability, and the marketability of its products; the economic slowdown in China and elsewhere and its impact on the company's operations; demand for and selling prices of the company's products; the future trading of the common stock of the company; the ability of the company to operate as a public company; the period of time for which its current liquidity will enable the company to fund its operations; the company's ability to protect its proprietary information; general economic and business conditions; the volatility of the company's operating results and financial condition; the company's ability to attract or retain qualified senior management personnel and research and development staff; future shortage or availability of the supply of raw materials; impact on cost-competitiveness as a result of entering into long-term arrangements with raw material suppliers and other risks detailed in the company's filings with the Securities and Exchange Commission. The company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or to changes in its expectations, except as may be required by law. Although the company believes that the expectations expressed in these forward looking statements are reasonable, they cannot assure you that their expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results.

   For further information contact:

    Peter Schmidt
    FD Asia
    Tel:   +86-10-8591-1953
    Email: peter.schmidt@fd.com

SOURCE  China Sunergy Co., Ltd.  

 

Unternehmensnachrichten
Jul 24 2009
China Sunergy stellt Aktualisierung zu den errechneten Resultaten des zweiten Quartals 2009 bereit
 


NANJING, China, 2. Juli/PRNewswire—Asia/ -- China Sunergy Co., Ltd. (Nasdaq: CSUN) (im Folgenden: China Sunergy ), ein auf die Produktion von Solarzellen spezialisierter Hersteller mit Sitz in Nanjing, China, verkündete heute eine Aktualisierung bezüglich der errechneten finanziellen und betrieblichen Resultate für das zweite Quartal, das am 30. Juni 2009 endete.

Die Verschiffung der Solarzellen überstieg leicht die angekündigten 35MW um 5MW, so dass China Sunergy insgesamt 40MW an Solarzellen im zweiten Quartal verschiffen konnte. Die Bruttogewinnspanne wird auf 9% geschätzt und übertrifft somit auch die Erwartungen. China Sunergy geht von einer positiven Rentabilität im zweiten Quartal 2009 aus.

„Im Verlaufe des zweiten Quartals hat China Sunergy die selbstgesteckten Ziele erreicht oder teilweise sogar übertroffen und ich freue mich über die gezeigten Anstrengungen, die das gesamte Unternehmen gezeigt hat, um diese Ziele zu erreichen,“ sagte Dr. Allen Wang, Geschäftsführer von China Sunergy. „Wir konnten eine stetige monatliche Verbesserung unserer Betriebs- und Finanzlage miterleben und ich freue mich darauf, weitere Fortschritte und Herausforderungen in den nächsten Quartalen anzugehen.“

Dadurch, dass die errechneten Resultate Teil der Hauptabrechnung sind, könnten die tatsächlichen Resultate von den jetzt errechneten abweichen. China Sunergy plant seine gesamten Resultate für des zweite Quartal 2009 Ende August 2009 herauszugeben; sobald das genaue Datum der Veröffentlichung feststeht, wird eine Pressemitteilung herausgegeben werden und Details zu einer Audiokonferenz über das zweite Quartal werden bekannt gegeben.

 
Quelle: http://www.chinasunergy.com/press/detail_deu.asp?nid=51  

31.08.2009 14:31
China Sunergy Signs 10MW of Sales Contracts With Australian Photovoltaic Firm / Agreement Continues China Sunergy''s Expansion into New Solar Markets

NANJING, China, Aug. 31 /PRNewswire-Asia/ -- China Sunergy Co., Ltd. , a specialized solar cell manufacturer based in Nanjing, China, today announced that it has signed a series of sales contracts with NUE PTY Ltd ("NU Energy"), a photovoltaic firm based in Victoria, Australia.

China Sunergy expects to ship up to a total of 10MW of monocrystalline solar modules, which are manufactured under sub-contracted OEM arrangement, to NU Energy, with partial shipments having begun in June 2009 and the full delivery under these contracts scheduled to be completed by early 2010 with ongoing contracts anticipated.

"Australia represents another new market for China Sunergy, and our successful signing of multiple sales agreements with this new customer is a positive indication of our ability to deliver high-quality solar power products globally," commented Dr. Ruennsheng Allen Wang, Director and CEO of China Sunergy. "Our dedicated sales efforts continue to generate results, both domestically and internationally, as we look to further diversify our sales channels."

NU Energy Chief Executive Officer Simon Schauble said, "NU Energy is one of Australia's largest solar companies, and these orders, totalling 10MW, show the strong confidence we have in our ongoing partnership with China Sunergy."  

China Sunergy Announces Financial Results for the Second Quarter Of 2009
Second Quarter Revenues of US$70.1 million; 41.5MW in Shipments Exceeds Guidance;
NANJING, China, Aug. 27 /PRNewswire-Asia/ -- China Sunergy Co., Ltd. (Nasdaq: CSUN), ("China Sunergy" or the "Company") a specialized solar cell manufacturer based in Nanjing, China, announced today its financial results for the second quarter of 2009.

   Second Quarter Financial Results
   -- Revenues were US$70.1 million, an 89.5% increase compared to
      the first quarter of 2009. Revenues generated from solar cell
      sales were US$54.5 million, representing a 58.4% increase
      compared to the first quarter of 2009.
   -- Gross profit was US$6.8 million for the second quarter, compared
      to gross loss of US$8.8 million during the first quarter of 2009.
      Accordingly, gross margin was 9.7%, compared to negative 23.7%
      during the first quarter of 2009.
   -- GAAP net income was US$1.7 million. Adjusted non-GAAP net income
      was US$1.2 million, which excludes share-based compensation and
      the change in the fair value of foreign currency derivatives. This
      compares to non-GAAP net loss of US$13.2 million in the first
      quarter of 2009.
   -- GAAP net income per ADS was US$0.04 on both basic and diluted basis.
      Adjusted non-GAAP net income per ADS was US$0.03 on both basic and
      diluted basis, which excludes share-based compensation and the change
      in the fair value of foreign currency derivatives, compared to a
      non-GAAP net loss of US$0.33 per ADS in the first quarter of 2009.
   -- Inventory as of June 30, 2009 was $25.0 million, down from $29.6
      million as of March 31, 2009. Inventory write-down was $2.9 million,
      compared to $8.0 million in the first quarter of 2009.
   -- Operating cash flow in the second quarter was positive US$19.5 million,
      compared with positive $7.9 million in the first quarter of 2009.
   -- During the second quarter of 2009, China Sunergy continued to conduct
      open market repurchases of its 4.75% Convertible Senior Notes due 2013,
      repurchasing US$4 million aggregate principal amount of the convertible
      notes for a total cash consideration of US$1.8 million. As a result,
      China Sunergy realized a net gain of US$2.2 million. As of the end of
      the second quarter of 2009, the convertible bond balance was reduced to
      US$44 million.
Please refer to "Reconciliation Tables of GAAP to adjusted Non-GAAP Figures" at the end of this press release.

   Operational Highlights
   -- Shipments in the second quarter amounted to approximately 41.5MW,
      representing a 73.6% increase sequentially and an 18.6% increase on a
      year-over-year basis, due to more aggressive pricing, successful
      efforts to work in a more integrated fashion with existing clients, and
      expansion into new markets.
   -- Shipments of high efficiency cells (defined as any cells with a
      conversion efficiency rate of over 17%) during the second quarter of
      2009 amounted to 18.6MW, or 44.8% of total solar cell shipments,
      compared with 8.9MW, or 37.2% of total solar cell shipments, during the
      first quarter of 2009.
   -- The Company further expanded its international business through the
      signing of a framework agreement and sales contract with Renergies
      Italia S.p.A, a manufacturer of solar modules based in Urbisaglia,
      Italy. The Company also entered into a 35MW solar photovoltaic products
      framework agreement, and a 5MW solar photovoltaic products sales
      contract based on the framework agreement, with Global Service LTM in
      Taiwan for a South Korean downstream customer.
   -- Over the past quarters, at the request of customers China Sunergy has
      begun to supply modules produced with China Sunergy solar cells, under
      OEM agreements. While the Company is not producing these modules
      internally and there has been limited shipment volume, the Company
      expects these OEM module agreements to become accretive to gross margin
      levels as contract volumes increase.
Commenting on the results, Dr. Allen Wang, CEO of China Sunergy, said:

"After two quarters of unfavorable economic conditions, we are pleased that the decisive action we took earlier in the year has led to second quarter results which meet or exceed our expectations. We have experienced steady monthly progress among operational and financial level improvements, due to our effective financial and inventory management, a focus on developing existing and new market opportunities and continued dedication to our leading solar technologies. We returned to profitability during the quarter and will continue to work diligently to position ourselves for profitable growth within a still challenging marketplace."

Second Quarter 2009 Financial Review

Revenues and Shipment

During the second quarter of 2009, revenues increased 89.5% sequentially to US$70.1 million. Sales from solar cells, modules, cells processed under OEM arrangements and other sales accounted for 77.7%, 6.3%, 0.9% and 15.1% of total revenues, respectively. Other sales were mainly revenue on polysilicon sales through buy-sell arrangements.

Shipments, including 1.4 MW of solar cells processed under OEM arrangements, amounted to approximately 41.5 MW, representing respectively the 18.6% and 73.6% increase compared with the second quarter of 2008, and the first quarter of 2009

The percentage of solar cell sales in overseas markets was 41.0% of total solar cell sales in the second quarter of 2009 compared to 39.5% and 24.2% in the second quarter of 2008 and the first quarter of 2009, respectively.

ASP, Gross Profit/Loss & Gross Margins

Blended average selling price (ASP) for the second quarter of 2009 declined from US$1.64 per watt in the previous quarter to US$1.44 per watt. The blended ASP for the second quarter of 2008 was US$3.37.

Gross profit for the quarter was US$6.8 million, which led to a blended gross margin of 9.7%, compared to negative 23.7% in the previous quarter, and 10.4% in the second quarter of 2008 despite the decline in ASP in the second quarter. The increase in gross margin from the first quarter of 2009 was primarily due to significantly reduced wafer cost and lower non-wafer production cost in the second quarter of 2009, balancing the continued decline in ASP.

Wafer Costs

In the second quarter of 2009, blended wafer cost, a part of production costs, declined to US$0.96 per watt compared to US$1.61 per watt in the first quarter of 2009. As the higher cost inventory at the end of 2008 was fully consumed, the Company's procurement flexibility allowed for the continued purchase of more raw materials on the spot market, reducing blended wafer cost.

Wafer cost continued to decline as a percentage due to lower wafer pricing in the second quarter. Wafer cost per watt as a percentage of total production costs per watt declined from 81.4% in the first quarter of 2009 to 75.2% in the second quarter of 2009.

Other production costs, or conversion costs, for the quarter were US$0.31 per watt, compared with $0.37 per watt in the first quarter of 2009, and $0.27 in the second quarter of 2008. The decline from the first quarter was largely due to greater utilization and effective non-wafer cost controls.

SG&A, Operating Profit/Loss and Net Income/Loss

SG&A expenses in the second quarter of 2009 were US$3.6 million, compared to US$5.1 million in the second quarter of 2008 and US$6.1 million in the last quarter. G&A expenses in the first quarter included US$1.4 million of bad debt provision for account receivables, while we reversed US$0.4 million of provision in the second quarter.

Income from operations was US$1.7 million for the second quarter, compared to operating loss of US$16.4 million for the first quarter of 2009. Operating income for the second quarter of 2008 was US$6.0 million.

Interest expense for the second quarter 2009 was US$1.9 million, compared to US$1.7 million for the second quarter of 2008 and US$1.4 million for the first quarter of 2009, respectively. The higher interest expense in the second quarter of 2009 was mainly due to the added US$0.3 million convertible bonds amortization cost as a result of the repurchase of the convertible bonds.

Net other income in the second quarter of 2009 was US$3.0 million, compared to net other loss US$0.7 million for the first quarter of 2009. Net other income in the second quarter included a gain of US$2.2 million on the repurchase of the convertible bonds and a US$0.8 million foreign exchange gain.

In the second quarter, GAAP net profit was US$1.7 million, an improvement sequentially compared to a GAAP net loss of US$15.9 million in the first quarter of 2009. GAAP net income was US $3.1 million in the second quarter of 2008.

Non-GAAP net profit was US$1.2 million in the second quarter of 2009, compared to a Non-GAAP net loss of US$13.2 million in the first quarter of 2009, and a Non-GAAP net income of US$4.0 million in the second quarter of 2008. Non-GAAP figures exclude share-based compensation and the change in the fair value of foreign currency derivatives.

The non-GAAP measures are described and reconciled to the corresponding GAAP measures in the section below titled "Use of Non-GAAP Financial Measures."

Liquidity, Cash Flow and Capital Expenditure

As of June 30, 2009, the Company had cash and cash equivalents of US$89.8 million. Net operating cash inflow for the second quarter was US$19.5 million, as the Company maintained a cautious cash flow management policy and purchased a lower amount of wafer during the second quarter. Depreciation and amortization was US$2.5 million and capital expenditures were US$3.9 million, largely involving remaining payments for equipment relating to the Company's selective emitter cell production lines.

Commenting on the financial results, Mr. Shiliang Guo, acting CFO of China Sunergy, said:

"Given our lower operational cost structure, the second quarter marked a return to profitability for China Sunergy. During the quarter we also took steps to ensure the stability of our company, such as working to reduce the risk of our accounts receivables, conducting a repurchase of convertible bonds at a reasonable price and continuing to hedge a portion of our forecasted sales to limit our exposure to currency fluctuations. As we look into the third quarter, although we expect strong growth we also believe that the credit environment for solar products has not recovered at the rates we anticipated earlier in the year. While we continue to execute on the strategies we implemented at the beginning of the year, we are becoming more conservative regarding the realities of our demand forecast, shipment credit policies and pricing as we move into the coming quarters."

Third Quarter and Full Year Outlook

Given recent visibility into the third quarter, China Sunergy now believes that while the solar market will continue to recover, it will do so at a more moderate rate than previously anticipated.

The Company anticipates shipment growth to remain strong, with third quarter shipments of 48MW - 55MW. However, given the pricing trends and strong pricing competition being seen for the third quarter, the Company expects third quarter gross margins will be flat from the second quarter of 2009. These margin levels have been impacted by a lower than expected ASP and higher conversion costs during the third quarter, due to lower utilization rates.

The Company remains confident in its ability to achieve shipments within the previously announced full year guidance range of 150 MW to 200 MW. However, due to the more conservative view of the credit environment recovery, it anticipates shipments towards the lower end of the previously announced range for the full year of 2009.

Quarterly Earnings Conference Call Details

China Sunergy will host a conference call at 8:00 a.m. Eastern Time or 5:00 a.m. Pacific Time (Beijing / Hong Kong Time: August 27, 2009 at 8:00 p.m.). The management team will be on the call to discuss results and highlights of the quarter and answer questions.

   The dial-in details for the live conference call are as follows:

   US Toll Free Dial In:    1-800-299-9086
   International Dial In:   1-617-786-2903

   Participant Passcode:    84476336
For those who cannot access the live broadcast, a replay will be available from two hours after the end of the call until September 10, 2009. The replay is available online or using the numbers below:

   US toll free number:     +1-888-286-8010
   International:           +1-617-801-6888
   Passcode:                16755764
A webcast of the call and replay with be available online at http://www.chinasunergy.com .

About China Sunergy Co., Ltd.:

China Sunergy Co., Ltd. (NASDAQ: CSUN) ("China Sunergy") is a specialized manufacturer of solar cell products in China. China Sunergy manufactures solar cells from silicon wafers utilizing crystalline silicon solar cell technology to convert sunlight directly into electricity through a process known as the photovoltaic effect. China Sunergy sells solar cell products to Chinese and overseas module manufacturers and system integrators, who assemble solar cells into solar modules and solar power systems for use in various markets. For more information please visit http://www.chinasunergy.com .

Use of Non-GAAP Financial Measures

To supplement China Sunergy's consolidated financial results presented in accordance with GAAP, China Sunergy uses the following measures defined as non-GAAP financial measures by the SEC: net income excluding share-based compensation and change in fair value of foreign currency derivative loss, and basic and diluted net income per ADS excluding share-based compensation and change in fair value of foreign currency derivative loss. The presentation of these non-GAAP financial measures is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with GAAP. For more information on these non-GAAP financial measures, please see the tables captioned "Reconciliations of non-GAAP financial measures to the nearest comparable GAAP measures" set forth at the end of this release. China Sunergy believes that these non-GAAP financial measures provide meaningful supplemental information regarding its performance by excluding certain expenses and expenditures that may not be indicative of its operating performance from a cash perspective. The Company believes that both management and investors benefit from referring to these non-GAAP financial measures in assessing the Company's performance and when planning and forecasting future periods. The Company expects to provide net income on a non-GAAP basis using a consistent method on a quarterly basis going forward. A limitation of using non-GAAP net income excluding share-based compensation and change in fair value of foreign currency derivative loss, and basic and diluted net income per ADS excluding share-based compensation and change in fair value of foreign currency derivative loss is that these non-GAAP measures exclude the share-based compensation and change in fair value of foreign currency derivative loss that have been and will continue to be for the foreseeable future a significant recurring expense in the business. Management compensates for these limitations by providing specific information regarding the GAAP amounts excluded from each non-GAAP measure. Please refer to "Reconciliation of non-GAAP financial measures to the nearest comparable GAAP measures" set forth at the end of this press release.

   For further information, please contact:

    Peter Schmidt
    Financial Dynamics
    Email: peter.schmidt@fd.com
    Phone: +86-10-8591-1953
Safe Harbor Statement

This announcement contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact in this announcement are forward-looking statements. These forward-looking statements and are based on current expectations, assumptions, estimates and projections about the company and the industry, and involve known and unknown risks and uncertainties, including but not limited to, the company's ability to raise additional capital to finance the company's activities; the effectiveness, profitability, and the marketability of its products; the economic slowdown in China and elsewhere and its impact on the company's operations; demand for and selling prices of the company's products, the future trading of the common stock of the company; the ability of the company to operate as a public company; the period of time for which its current liquidity will enable the company to fund its operations; the company's ability to protect its proprietary information; general economic and business conditions; the volatility of the company's operating results and financial condition; the company's ability to attract or retain qualified senior management personnel and research and development staff; future shortage or availability of the supply of raw materials; impact on cost-competitiveness as a result of entering into long-term arrangements with raw material suppliers and other risks detailed in the company's filings with the Securities and Exchange Commission. The company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or to changes in its expectations, except as may be required by law. Although the company believes that the expectations expressed in these forward looking statements are reasonable, they cannot assure you that their expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results.



                              China Sunergy Co., Ltd.
          Unaudited Condensed Consolidated Income Statement Information
                    (In US$ '000, except share and per share data)

                                                  For the 3 months ended
                                              Jun 30,     Mar 31,     Jun 30,
                                               2009        2009        2008

     Sales to third parties                   57,825      22,775      92,802
     Sales to related parties                 12,315      14,263      18,835
     Total sales                              70,140      37,038     111,637
     Cost of goods sold                      (63,315)    (45,814)   (100,018)
     Gross profit (loss)                       6,825      (8,776)     11,619
     Operating expenses:
     Selling expenses                           (630)       (549)       (835)
     General and administrative expenses      (2,949)     (5,508)     (4,223)
     Research and development expenses        (1,509)     (1,544)       (547)
     Total operating expenses                 (5,088)     (7,601)     (5,605)
     Income/(loss) from operations             1,737     (16,377)      6,014
       Interest expense                       (1,864)     (1,420)     (1,686)
       Interest income                           594         322         367
       Other income/(expenses), net            3,015        (661)     (1,205)
       Changes in fair value of derivatives      470      (2,343)         --
     Income/(loss) before income tax           3,952     (20,479)      3,490
     Income tax (expense) benefit             (2,210)      4,592        (433)

     Net income/(loss)                         1,742     (15,887)      3,057
     Net income/(loss) attributable to
      ordinary shareholders                    1,742     (15,887)      3,057

     Net income/(loss) per ADS
     Basic                                     $0.04      ($0.40)      $0.08
     Diluted                                   $0.04      ($0.40)      $0.08

     Weighted average ADS outstanding
     Basic                                39,823,915  39,810,509  39,617,393
     Diluted                              40,409,045  39,810,509  39,893,320



                             China Sunergy Co., Ltd
           Unaudited Condensed Consolidated Balance Sheet Information
                 (In US$ '000, except share and per share data)

                                                Jun 30,          Dec 31,
                                                  2009            2008
   Assets
   Current Assets
     Cash and cash equivalents                   89,843          94,800
     Restricted cash                             64,128          62,400
     Accounts receivable (net)                   28,419           8,906
     Other receivable (net)                       3,497          10,273
     Income tax receivable                        1,258           1,258
     Inventories                                 24,980          59,125
     Advance to suppliers                         1,914           7,320
     Amount due from related companies           23,369          18,583
     Current deferred tax assets                  4,375           1,992
   Total current assets                         241,783         264,657
   Property, plant and equipment, net            99,712         102,609
   Prepaid land use rights                        6,502           6,442
   Deferred tax assets                            1,512           1,512
   Restricted cash- Collateral account           19,142          17,502
   Derivative assets                                335              --
   Other long-term assets                         4,132           5,003
   Total assets                                 373,118         397,725

   Liabilities and shareholders' equity
   Current liabilities
     Short-term bank borrowings                  76,114          97,299
     Accounts payable                            54,505          43,730
     Accrued expenses and other current
      liabilities                                 5,652           5,445
     Amount due to related companies                352             247
   Total current liabilities                    136,623         146,721
   Collateral account payable                    19,142          17,502
   Derivative liability                          11,153           9,058
   Other liabilities                              1,101           1,187
   Convertible bond payable                      44,000          48,000
   Total liabilities                            212,019         222,468

   Shareholders' equity

   Ordinary shares: US$0.0001 par
    value; 267,287,253 and 267,766,443
    shares issued outstanding as of
    June 30, 2009 and December 31,
    2008, respectively                               27              27
   Additional paid-in capital                   182,303         182,070
   Subscription receivable                         (405)           (405)
   Accumulated deficit                          (41,938)        (27,792)
   Accumulated other comprehensive income        21,112          21,058
   Noncontrolling interest                           --             299
   Total shareholders' equity                   161,099         175,257
   Total liabilities and shareholders'
    equity                                      373,118         397,725



         Reconciliation of non-GAAP results of operations measures to the
                        nearest comparable GAAP measures
                (In US$ '000, except share and per share data)

                                                For the 3 months ended
                                              Jun 30,     Mar 31,    Jun 30,
                                               2009        2009        2008

     GAAP Net income/(loss)                    1,742     (15,887)      3,057
     Stock based compensation                   (119)        352         935
     Changes in fair value of
      derivatives- REC contract               (2,085)      5,136          --
     Changes in fair value of
      derivatives- Euro hedging                1,615      (2,793)         --

     Non-GAAP Net income/(loss)                1,153     (13,192)      3,992

     Non-GAAP Net income/(loss) per ADS
     Basic                                     $0.03      ($0.33)      $0.10
     Diluted                                   $0.03      ($0.33)      $0.10

     Weighted average ADS outstanding
     Basic                                39,823,915  39,810,509  39,617,393
     Diluted                              40,409,045  39,810,509  39,893,320

SOURCE China Sunergy Co., Ltd.

Peter Schmidt of Financial Dynamics, peter.schmidt@fd.com, or +86-10-8591-1953