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Gabelli基金經理John Segrich講到他已經做空晶澳太陽能和寶威電源，因為德國和意大利計劃減少太陽能補助。
Segrich沒有透露他賣空了多少，并講到市場已經充滿同類產品。根據公司網站信息透露，晶澳太陽能主要生產太陽能電池，寶威電源是世界第二大太陽能轉換器制造商（總部位于加利福尼亞）。
“新市場的爭斗將讓價格大幅下降，我們已經考慮到這種情況。“Segrich在電話采訪中講到（Segrich管理著大約4000萬美元的Rye 基金）。
意大利政府計劃減少光伏發電的支持，因去年已完成6GW的裝機容量，是2009年全部產能的5倍。最大的市場德國也將在7月減少補助。The Bloomberg Global Leaders Solar Index自2月來跌幅達15%。
“可能接下來的一年意大利不需要運送任何光伏組件，現在盈利的公司可能在2季度掙不到任何錢。”Segrich講到。
晶澳太陽能與合肥市簽訂投資協議將在2012為其增加3GW的產能。晶澳太陽能四季度的盈利從之前的330萬美元激增至1.18億美元，但它的股價自2月來下跌大約20%。
自2月4日管理層宣布一季度銷售將低于分析師預期來寶威電源下跌了大約34%。Segrich透露這兩個公司是他的最大的空頭頭寸之一。
Gabelli & Co. fund manager John Segrich said he has shorted JA Solar Holdings Co. and Power-One Inc. (PWER) as Italy and Germany plan cuts to solar-power subsidies.
Segrich, who didn´t disclose how much borrowed stock he sold, said some of the best markets for their products have too much supply. Shanghai-based JA Solar makes solar cells, and Power-One of California is the second-largest manufacturer of solar-power inverters, according to the company’s website.
“It’s going to take prices collapsing to open up new markets,” Segrich, who manages about $40 million at Rye, New York-based Gabelli, said in a telephone interview yesterday. “We’ve got the hard-landing scenario.”
The Italian government plans to reduce incentives for photovoltaic power generators in June as developers installed as much as 6 gigawatts of capacity last year, five times its total potential at the end of 2009. Germany, the world’s biggest market, is set to lower subsidies in July. The Bloomberg Global Leaders Solar Index has lost about 15 percent since Feb. 18.
“You may not need to ship any more modules into Italy for the rest of the year,” Segrich said. “You have companies that are earning money now that might not earn any money in the second quarter.”
JA Solar said yesterday it agreed to set up a new factory in the Chinese city of Hefei that will add 3 gigawatts to its annual production capacity from 2012. The company saw profit surge to $118.7 million in the fourth quarter from $3.3 million in the year-earlier period. Its stock has slumped about 20 percent since Feb. 18.
Segrich, who manages one hedge fund and one mutual fund, said he sees solar panels selling for between $1.65 and $1.70 a watt compared with $1.90 in the fourth quarter. He forecast panel prices will dip below $1.50 per watt by the end of June.
Power-One has lost about 34 percent since Feb. 4 when its management said first-quarter sales will trail analysts’ expectations. Segrich said the two companies are among his biggest short positions.
Segrich沒有透露他賣空了多少，并講到市場已經充滿同類產品。根據公司網站信息透露，晶澳太陽能主要生產太陽能電池，寶威電源是世界第二大太陽能轉換器制造商（總部位于加利福尼亞）。
“新市場的爭斗將讓價格大幅下降，我們已經考慮到這種情況。“Segrich在電話采訪中講到（Segrich管理著大約4000萬美元的Rye 基金）。
意大利政府計劃減少光伏發電的支持，因去年已完成6GW的裝機容量，是2009年全部產能的5倍。最大的市場德國也將在7月減少補助。The Bloomberg Global Leaders Solar Index自2月來跌幅達15%。
“可能接下來的一年意大利不需要運送任何光伏組件，現在盈利的公司可能在2季度掙不到任何錢。”Segrich講到。
晶澳太陽能與合肥市簽訂投資協議將在2012為其增加3GW的產能。晶澳太陽能四季度的盈利從之前的330萬美元激增至1.18億美元，但它的股價自2月來下跌大約20%。
自2月4日管理層宣布一季度銷售將低于分析師預期來寶威電源下跌了大約34%。Segrich透露這兩個公司是他的最大的空頭頭寸之一。
Gabelli & Co. fund manager John Segrich said he has shorted JA Solar Holdings Co. and Power-One Inc. (PWER) as Italy and Germany plan cuts to solar-power subsidies.
Segrich, who didn´t disclose how much borrowed stock he sold, said some of the best markets for their products have too much supply. Shanghai-based JA Solar makes solar cells, and Power-One of California is the second-largest manufacturer of solar-power inverters, according to the company’s website.
“It’s going to take prices collapsing to open up new markets,” Segrich, who manages about $40 million at Rye, New York-based Gabelli, said in a telephone interview yesterday. “We’ve got the hard-landing scenario.”
The Italian government plans to reduce incentives for photovoltaic power generators in June as developers installed as much as 6 gigawatts of capacity last year, five times its total potential at the end of 2009. Germany, the world’s biggest market, is set to lower subsidies in July. The Bloomberg Global Leaders Solar Index has lost about 15 percent since Feb. 18.
“You may not need to ship any more modules into Italy for the rest of the year,” Segrich said. “You have companies that are earning money now that might not earn any money in the second quarter.”
JA Solar said yesterday it agreed to set up a new factory in the Chinese city of Hefei that will add 3 gigawatts to its annual production capacity from 2012. The company saw profit surge to $118.7 million in the fourth quarter from $3.3 million in the year-earlier period. Its stock has slumped about 20 percent since Feb. 18.
Segrich, who manages one hedge fund and one mutual fund, said he sees solar panels selling for between $1.65 and $1.70 a watt compared with $1.90 in the fourth quarter. He forecast panel prices will dip below $1.50 per watt by the end of June.
Power-One has lost about 34 percent since Feb. 4 when its management said first-quarter sales will trail analysts’ expectations. Segrich said the two companies are among his biggest short positions.
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