BEIJING, March 26 /Xinhua-PRNewswire/ -- Suntech Power Holdings Co., Ltd.
(NYSE: STP), one of the world's leading manufacturers of photovoltaic (PV)
cells, hosted an Analyst and Investor Day in Hong Kong on Monday, March 26,
welcoming guests from the Asian, European and U.S. investment communities.
Dr. Zhengrong Shi, Suntech's chairman and CEO, delivered opening remarks
summarizing management's vision to become the leading global pure-play
producer of solar energy products. Dr. Shi commented on Suntech's successes
in the worldwide photovoltaic (PV) market, including the Company's rapid
ascent to become the number three global PV vendor in cells and modules in
just five years.
Dr. Shi noted that Suntech's operations, which combine world class PV
technology with the industry's lowest cost per watt large-scale production,
delivered record results for 2006.
An archived audio webcast of Dr. Shi's opening remarks is available on the
"Investors" section of the Suntech website at http://www.suntech-power.com
under "Events."
During the event, members of Suntech management spoke on a range of
subjects and delivered the following key takeaway messages:
-- Dr. Tadao Kasahara, President, MSK Corporation
MSK's core strengths include market leadership in Building
Integrated Photovoltaics (BIPV) with highly specialized product
development efficiencies, well established Japanese market
penetration and sales channels that are complementary to Suntech's
business development network.
-- Mr. Graham Artes, Chief Operations Officer
Suntech's production process key differentiators such as low cost
China-based manufacturing, minimal wafer breakage rate, industry-
leading capacity expansion targets and rapid commercialization of R&D
improvements. Suntech's new production facilities and zero-energy
building were also discussed. The Company is targeting 420MW capacity
by year-end 2007 and seeks to break the 1GW production capacity
barrier by year-end 2010.
-- Dr. Stuart Wenham, Chief Technical Officer
Suntech's strong and proven R&D processes were detailed, with
expectations for its crystalline silicon technology roadmap including
production of 20% solar conversion efficiency PV cells in 2008 and
continued reduction in wafer thickness, both of which are expected to
lead to gross margin improvement. Features of Suntech's new
semiconductor finger technology, crystalline silicon thin film solar
cell technology and high value-added BIPV technology development were
also showcased.
-- Mr. Roger Ye, Director, Sales
-- Mr. Jerry Stokes, President, Suntech Europe
-- Mr. Steven Chan, Vice President, Business Development
Sales initiatives and market trends were discussed including Suntech's
sales and brand advantages as an industry pioneer with globally
diversified growth and a reputation for consistently high quality
products. The sales and marketing panel noted that Suntech expects to
see dynamic sales growth in Spain and North America during 2007.
-- Ms. Amy Yi Zhang, Chief Financial Officer
Suntech's financial performance and 2007 trends were covered
including the Company's sustainable cost advantages. Ms. Zhang also
described Suntech's strong supplier relationships, financial strength
and scale which have enabled Suntech to lock in silicon supply during
a period of industry-wide supply shortage. Ms. Zhang reiterated
Suntech's first quarter and full year 2007 outlook for revenue,
production output, average sales prices and gross margins that was
provided during its fourth quarter 2006 earnings conference call.
About Suntech
Suntech Power Holdings Co., Ltd. is a leading solar energy company in the
world as measured by both production output and capacity of solar cells and
modules. Suntech provides solar solutions for a green future. Suntech designs,
develops, manufactures, and markets a variety of high quality, cost effective
and environmentally friendly PV cells and modules for electric power
applications in the residential, commercial, industrial, and public utility
sectors. Suntech's majority-owned subsidiary, MSK Corporation is one of
Japan's largest PV manufacturers and one of the top-ranked companies in the
building-integrated photovoltaics (BIPV) space. Suntech's customers are
located in various markets worldwide, including key markets throughout Europe,
Japan, China and the United States. For more information, please visit
http://www.suntech-power.com .
For more information, please contact:
Steven Chan
VP of Business Development
Suntech Power Holdings Co., Ltd.
Tel: +86-510-8531-8910
Email: ir@suntech-power.com
In the United States:
E.E. Wang
The Piacente Group, Inc.
Tel: +1-212-481-2050
Email: suntech@tpg-ir.com
In China:
Rory Macpherson
Consultant
Ogilvy Public Relations Worldwide
Tel: +86-10-8520-6553
Email: rory.macpherson@ogilvy.com
