Boston, MA 07/16/2013 (wallstreetpr) – LDK Solar Co. Ltd (ADR) (NYSE:LDK), an integrated manufacturer of a wide range of silicon related products such as silicon wafers, silicon ingots, photovoltaic cells and PV modules with operations based in China, recently presented significant improvements in the first quarter financial results for the fiscal year 2013. The company recorded the highest ASPs amongst the companies operating in the sector, along with positive gross profit margins. The Solarzoom Export Data placed the company at the second position in delivering such silicon related products to South Africa and Japan.
In line with the provisional tariffs imposed through a law in June 2013 in the European Union, the company reduced the shipments of its products to the region to 10% of its total value. This will further enable the company to avoid the impacts of the additional tariffs to be imposed in the month of August 2013. The Vice President of investor relations of the company and the General Manager of the Hanwha Group described the various strategies adopted by the company and the technologies incorporated to provide for the improvement in financial performance.
With the intraday spread from a low price of $2.70 to a high price of $3.18, the shares of the Hanwha Solarone Co Ltd (NASDAQ:HSOL) closed for the day at $3.17, recording an increase of 21.92%. The low price range of Hanwha Solarone for the last 52 weeks was $0.77 to a high price of $3.18.The stock opened at $2.70 on Monday with a market capitalization of $314.73 million and 99.28 million outstanding shares. With an institutional ownership of 4%, the trading volume for the day of Hanwha Solarone was 2.51 million and the average trading volume was 963,282.00 shares.
