Hanwha Solarone Co Ltd (NASDAQ:HSOL) provides PhotoVoltalic module processing service

0
1030

Boston, MA, 06/28/2013 (financialstrend) – The share prices of Hanwha Solarone Co Ltd (NASDAQ:HSOL) had been traded in the price range of $1.90 and $2.18 per share on Thursday. The share price of the company had gradually advanced by 8.51 percent more than the previous day. The share price of Hanwha Solarone Co Ltd (NASDAQ:HSOL) does not make any effect in the 52 week high value $2.20 and 52 week low value $0.77.

Hanwha Solarone Co Ltd (NASDAQ:HSOL) is an integrated manufacturer of silicon wafers, silicon ingots, PV modules and photovoltaic cells in China. The Company also provides services for PhotoVoltalic module processing. It sells PV modules and PV cells both directly to through third party distributors and system integrators.

The company has announced today that its wholly-owned subsidiary Hanwha SolarOne Co., Ltd., has obtained a three year US$100 million term loan facility known as the “Loan” from the Export – Import Bank of Korea (KEXIM). The maturing time of the loan is on June 25, 2016 along with principal payment to be made at maturity. The interest rate floats on the basis of three month LIBOR, in addition with 1.99 percent per annum. For basically working capital purposes the proceeds of the loan would be used. The CEO and Chief Financial Officer (CFO) of Hanwha SolarOne, Mr. Jay explained that, “this new capital will help to enhance our ability to continue our shift of loans to longer term from short term, current working capital needs are supported, and allows some flexibility in developing Company’s business strategies for the future.” He further concluded that the Company is continuing to be fortunate from offshore sources to access relatively low-cost funding.

The market capitalization value is nearly 202.54 million and institutional investors share’s value is about 4 percent. The Hanwha Solarone Co Ltd (NASDAQ:HSOL) had a trading volume as 3.17 million and the average volume as 1.34 million per day on Thursday. The company presently holds outstanding share values as 99.28 million on Thursday.

This report is for information purposes only, and is neither a solicitation or recommendation to buy nor an offer to sell securities. Financials Trend is not-a-registered-investment-advisor. Financials Trend is not a broker-dealer. Information, opinions and analysis contained herein are based on sources believed to be reliable, but no representation, expressed or implied, is made as to its accuracy, completeness or correctness. The opinions contained herein reflect our current judgment and are subject to change without notice. Financials Trend accepts no liability for any losses arising from an investor's reliance on the use of this material. Financials Trend sometimes gets compensated up to one hundred and fifty thousand dollars per month for featuring particular stocks. See site disclaimer for complete compensation. Financials Trend and its affiliates or officers currently hold no shares of these stocks. Financials Trend and its affiliates or officers will purchase and sell shares of common stock of these stocks, in the open market at any time without notice. Financials Trend will not update its purchases and sales of these stocks in any future postings on Financials Trend's websites. Certain information included herein is forward-looking within the context of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements concerning manufacturing, marketing, growth, and expansion. The words "may", "would," "will," "expect," "estimate," "anticipate," "believe," "intend," " project," and similar expressions and variations thereof are intended to identify for ward-looking statements. Such forward- looking information involves important risks and uncertainties that could affect actual results and cause them to differ materially from expectations expressed herein. *Financials Trend does not set price targets on securities. Never invest into a stock discussed on this web site or in this email alert unless you can afford to lose your entire investment.