NANJING, China, June 8, 2012 /PRNewswire-Asia/ -- China Sunergy Co., Ltd. (Nasdaq: CSUN) ("China Sunergy" or the "Company"), a specialized solar cell and module manufacturer, announced that it held a large promotion event (the "Event") in Bangkok, Thailand today to introduce its high efficiency QSAR modules to the Thailand Provincial Electrical Authority officials, local banks as well as customers and investors, such as Thailand state owned petroleum refining and marketing company Bangchak Petroleum Public Company, Ratchaburi Electricity Generating Holding Public Company, and IRPC Public Company Limited, a fully-integrated refinery and petrochemical complex in Thailand and Southeast Asia, Kasikorn Bank, Thailand's third largest bank and other well-known local EPCs and distributors.
This Event coincides with the high profile International Exhibition of Environmental Protection and Pollution Control Technology, which is held in Bangkok and has attracted exhibitors from more than 20 countries, as well as senior government officials and executives of major international corporations. The Company's CTO, Dr. Jianhua Zhao delivered a presentation at the Event to introduce the Company's QSAR modules and recent technology developments.
Mr. Stephen Cai, CEO of China Sunergy commented, "Thailand is a market with great potential. It has a national solar target of 2GW to be installed by 2020 and a total renewable energy generation target of 25% of all energy by 2021. Our highly efficient solar modules are showing excellent temperature coefficiency performance when tested by Photon Laboratory. This results in a lower efficiency loss even in high temperature climates which particularly suits markets like Thailand."
"Considering macroeconomic and industry uncertainties, especially in the developed solar markets, we continue to further diversify our sales into emerging markets, including Thailand, Japan and China, where we believe there are great growth opportunities for China Sunergy," Mr. Cai added.
China Sunergy commenced the commercial production of QSAR modules in October 2011. During the first quarter of 2012, conversion efficiency rate of QSAR cells reached 19.1% on batch average, with the highest rate at 19.4%.
Dr. Zhao, CTO of China Sunergy commented, "QSAR modules are one of China Sunergy's most advanced high power output products. Our pioneering technology results in higher conversion efficiency, simplifies the production process, reduces operation links and narrows the distribution of conversion efficiency. The reliable quality and high efficiency of our QSAR modules translate into greater cost effectiveness and project returns for our downstream clients."
About China Sunergy Co., Ltd.
China Sunergy Co., Ltd. is a specialized manufacturer of solar cell and module products in China. China Sunergy manufactures solar cells from silicon wafers, which utilizes crystalline silicon solar cell technology to convert sunlight directly into electricity through a process known as photovoltaic effect, and assembles solar cells into solar modules. China Sunergy sells these solar products to Chinese and overseas module manufacturers, system integrators and solar power systems for use in China and many other markets. For additional 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 facts in this announcement are forward-looking statements. These forward-looking statements 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; litigations and other legal proceedings, including any decisions by the ITC and DOC on the petitions filed; 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; execution of our strategy to expand into downstream solar power businesses; 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 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, it cannot assure you that its expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results.
Media Contacts:
China Sunergy Co., Ltd.
|
Elaine Li Phone: +86 25 5276 6696 Email: Elaine.li@chinasunergy.com |
Brunswick Group
|
Hong Kong Ginny Wilmerding Phone: + 852 3512 5000 Email: csun@brunswickgroup.com |
Hong Kong Annie Choi Phone: + 852 3512 5000 Email: csun@brunswickgroup.com |
