LDK Looking for Cash as Sales Dry Up 赛维LDK太阳能公司销量下滑 现金接近枯竭

The sun isn’t shining too brightly these days on solar energy firm LDK Solar (NYSE: LDK), which has just announced some decidedly downbeat updated guidance for its latest results. (company announcement) Among the headline numbers, the company lowered its revenue guidance for the first quarter to about $750 million, nearly 10 percent lower than a previous forecast of $825 billion. Clearly this company’s less-than-stellar management is starting to hurt both its top and bottom lines, as it battles for share in China’s ultra-competitive solar energy market and staggers under a huge debt load. If things continue this way, and there’s no sign they won’t, the company could face a major cash crunch in the near future. Market talk has it that LDK is looking to spin off its polysilicon assets into a $1-3 billion company to be listed in Hong Kong in a bid to raise cash to stave off the debt collector. But even if the talk is true, there’s no guarantee investors will be interested and it may take more anyway to turn this company around before it’s too late.

Bottom line: LDK’s latest downward revision to guidance marks the latest milepost in its broader downward spiral.

对於赛维LDK太阳能有限公司<LDK.N>来说，这几天阳光没有那麽明媚。这家公司刚刚公布看起来有些惨淡的经营展望，把一季度营收预期下调至7.5亿美元，比此前的8.25亿美元预期少了将近10%。很显然，这家债台高筑、步履蹒跚的公司在竞争异常激烈的中国太阳能市场抢夺市场份额之际，表现欠佳的管理团队已经开始损害其营收和利润了。如果还这样继续下去，似乎看起来也是如此，这家公司将很快面临现金短缺的状况。坊间传言，赛维LDK打算把其在多晶硅领域的资产剥离成一个估值10-30亿美元的公司，在香港上市，以缓解窘境。但即使传言是真的，也不能保证投资者%E