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China's solar panel seeking revival in domestic market


09:42, November 28, 2012

NANCHANG, Nov. 27 (Xinhua) -- China's solar panel producers embattled by heavy duties from anti-dumping probes in both the United States and Europe are focusing on the domestic downstream power generation sector to offset their export losses.

The LDK Solar Co., one of the world's largest manufacturers of solar wafers, has seen engines in its workshops in Xinyu, east China's Jiangxi Province, roar again.

This month, the company has obtained a number of new deals of building photovoltaic power plants in China.

The New York-listed company's stock dived to 0.71 U.S. dollars per share on Oct. 19 from an earlier high of 76.75 U.S. dollars dragged by the United States Commerce Department' final approval to heavy punitive duties on billions of dollars of solar-energy products from China for the next five years.

The duties range from 18 percent to 250 percent.

"Perhaps the toughest time is passing, as most of the customers and banks have been very supportive of us," said Sam Tong, president and chief operating officer of LDK Solar Co., on Tuesday.

In order to tackle the tight cash flow, the company transferred some of its fixed assets to other medium-sized solar companies as a mortgage, suspend standing orders and seek new business partnerships with Chinese downstream power generating enterprises by building solar PV power stations.

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