JIASHAN, China, Nov. 10 /Xinhua-PRNewswire-FirstCall/ -- ReneSola Ltd ("ReneSola" or the "Company") (NYSE: SOL) (AIM: SOLA.L), a leading Chinese manufacturer of solar wafers, today announced that it was recognized as the fourth fastest growing Chinese technology company in the Deloitte Technology Fast 50 China 2008 program. The program evaluates leading Chinese companies in the TMT sector based on their average revenue growth rates over the last three years.
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"We are honored to be included in the Deloitte Technology Fast 50 China for 2008," said Mr. Xianshou Li, ReneSola's chief executive officer. "Over the last three years we have utilized large-scale, cost-effective manufacturing while capitalizing on strong technology development capabilities to become one of the largest wafer manufacturers and one of the four fastest growing TMT companies in China. Our inclusion in this prestigious ranking is a testament to the leadership and vision of our strong and experienced management team and the smooth and successful execution of our growth strategy."
The Deloitte Technology Fast 50 China program was started in 2005 to annually recognize high-growth, high-technology companies in TMT industries. The program bases its rankings on average revenue growth over the preceding three year period. ReneSola ranked fourth in the rankings with a three-year average revenue growth rate of 4,793%.
Participants in the Deloitte Technology Fast 50 China program automatically qualify for participation in the Deloitte Technology Fast 500 Asia Pacific program, which annually recognizes the 500 fastest growing TMT companies in Asia Pacific. The awards ceremony for the Deloitte Technology Fast 50 China was held in Shenzhen on October 31, 2008. The Deloitte Technology Fast 500 Asia Pacific awards ceremony will be held on December 11, 2008 in Hong Kong.
About The Deloitte Technology Fast 50 China program
The Deloitte Technology Fast 50 China program ranks leading companies in TMT sectors based on their average revenue growth rates over the last three years. Along with its counterparts in Australia, India, Japan, Korea and New Zealand, the Deloitte Technology Fast 50 China is a key component of the Deloitte Technology Fast 500 Asia Pacific Program which is reputed as one of the most established and objective ranking programs of fast growing technology companies in the Asia Pacific Region.
About ReneSola
ReneSola Ltd ("ReneSola") is a leading global manufacturer of solar wafers based in China. Capitalizing on proprietary technologies and technical know-how, ReneSola manufactures monocrystalline and multicrystalline solar wafers. In addition, ReneSola strives to enhance its competitiveness through upstream integration into virgin polysilicon manufacturing. ReneSola possesses a global network of suppliers and customers that include some of the leading global manufacturers of solar cells and modules. ReneSola's shares are currently traded on the New York Stock Exchange (NYSE: SOL) and the AIM market of the London Stock Exchange (AIM: SOLA). For more information about ReneSola, please visit http://www.renesola.com .
For investor and media inquiries, please contact:
In China:
Mr. Charles Bai
ReneSola Ltd
Tel: +86-573-8477-3061
Email: charles.bai@renesola.com
Mr. Derek Mitchell
Ogilvy Financial, Beijing
Tel: +86-10-8520-6284
Email: derek.mitchell@ogilvy.com
In the United States:
Mr. Thomas Smith
Ogilvy Financial, New York
Tel: +1-212-880-5269
Email: thomas.smith@ogilvypr.com
In the United Kingdom:
Mr. Tim Feather / Mr. Richard Baty
Hanson Westhouse Limited, London
Tel: +44-207-601-6100
Email: tim.feather@hansonwesthouse.com / richard.baty@hansonwesthouse.com
