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Solarfun seems to be getting a lot of good press today.It is a chinese reverse merger stock that is attracting alot of attention from someone.At one point this $20 stock was up over $8 today alone....Was gonna bring this online early today but was banned for some reason.Looks like the stock will kick butt for a while.
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Solarfun Signs $230 Million Wafer Supply Contract - BusinessWire
SHANGHAI, China, Jan 03, 2008 (BUSINESS WIRE) -- Solarfun Power Holdings Co., Ltd. , an established manufacturer of photovoltaic (PV) cells, modules and ingots in China, today announced the signing of three contracts for sale and delivery of wafers totaling $230 million over a seven-year period with a major Korean conglomerate.
According to the agreements Solarfun will receive a predetermined amount of wafers beginning in January 2008 with volumes reaching over 30 MW per year in 2011. The prices will be fixed with a declining price structure throughout the term of the contract. Additionally, the Korean firm will hold options to purchase back a certain percentage of the wafers as modules beginning in 2009.
"We are pleased to develop a long term partnership with a proven player and look forward to growing our relationship with them in many areas," said Solarfun's Chairman Lu Yonghua. "This contract will be a key factor towards fulfilling our immediate expansion goals of 360 MW in production capacity by mid-2008 and allows us to explore OEM as a possible addition to our business model."
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Anticipation for the earnings release on thursday morning!
My vectorvest app rates them as a sell. But also says "Value: Value is a measure of a stock's current worth. SOLF has a current Value of $22.95 per share"
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