CC Wealth Ltd Tracks JinkoSolar Holding Co Takes Over Rival Company

NEW YORK - Oct. 23, 2014 - PRLog -- The second largest gaining solar energy company in the last twelve months after Canadian Solar Inc, JinkoSolar Holding Co, has today announced that it will be taking over the production assets of rival Zhejiang Topoint Photovoltaic Co after being requested to do so by bankruptcy administrators for Topoint and officials of the city where the facilities are located, Haining, requested they do so while Topoint undergoes reorganization.

2013, saw a resurgence in the solar power industry driven primarily by Chinese demand after a nearly two year slump in the sector caused by a glut in capacity and falling prices for PV cells. With increased demand and a reaffirming of Chinese commitments in subsidizing solar investment and infrastructure expansion, the industry experienced explosive growth, with some better prepared companies increasing in value over 400%; the growth however was too late for smaller concerns who had not endured the downturn as well.

“It has been quite a week for Jinko, they obtained $66 million in loans to underwrite new projects in China and now they’ve been given the day to day operations of Topoint in Haining during the latter company’s bankruptcy reorganization. After the absolutely phenomenal gains that Jinko experienced with the upturn in the market last year, their share holders are ecstatic to say the least” observed Asia Desk Analyst for CC Wealth Ltd, Lilly Wang.

With China surpassing Germany as the world’s largest consumer of solar energy, demand for PV cells surged 39% last year helping to Jinko’s ADRs gain 400% in value. Jinko’s shares continued to rise in trading today gaining 1.8% to close at $35.41 bringing the company’s ROI for the year to date to 375.30%.

“The solar power sector has been the best performing energy sector in the last twelve months and we expect that given all of the infrastructure expansion taking place in China, Japan and the U.S over the year to come that more significant gains will be the order of the day for the front running companies involved” concluded Lilly Wang of CC Wealth Ltd.

http://www.ccwealthltd.com/

http://www.bloomberg.com/news/2014-01-10/jinkosolar-to-take-over-rival-plants-under-reorganization.html