China Solar: Tracking profitability inflection May rush installation spike suggests deeper demand pullback into 2H25 Our China Solar Profitability Tracker follows monthly supply/demand and inventory dynamics by sub-sector, and the spot prices/input costs implied cash GP & EBITDA margin trends for companies under our coverage. Key highlights in June MTD: Sector view: We continue to expect capacity cuts in 2025E-26E (average 17% of end-24 capacity cut across main value chain) due to cash burn and market acces ...

INVESTOR PRESENTATION MAY 2022 OUR PURPOSE: York Ragen CHIEF FINANCIAL OFFICER Mike Harris VICE PRESIDENT – CORPORATE DEVELOPMENT & INVESTOR RELATIONS Lead the evolution to more resilient, efficient, and sustainable energy solutions. INVESTOR RELATIONS Aaron Jagdfeld PRESIDENT & CEO Kris Rosemann INVESTOR RELATIONS MANAGER (262) 506 -6064 InvestorRelations@generac.com 2 FORWARD LOOKING STATEMENTS Certain statements contained in this news release, as well as other information provided from time to time by Ge ...

SENIOR VICE PRESIDENT – CORPORATE DEVELOPMENT & INVESTOR RELATIONS INVESTOR PRESENTATION AUGUST 2022 OUR PURPOSE: Lead the evolution to more resilient, efficient, and sustainable energy solutions. INVESTOR RELATIONS Aaron Jagdfeld PRESIDENT & CEO York Ragen CHIEF FINANCIAL OFFICER Mike Harris 2 FORWARD LOOKING STATEMENTS Certain statements contained in this news release, as well as other information provided from time to time by Generac Holdings Inc. or its employees, may contain forward looking statements ...

INVESTOR PRESENTATION November 2022 OUR PURPOSE: Lead the evolution to more resilient, efficient, and sustainable energy solutions. INVESTOR RELATIONS Aaron Jagdfeld PRESIDENT & CEO York Ragen CHIEF FINANCIAL OFFICER Mike Harris SENIOR VICE PRESIDENT – CORPORATE DEVELOPMENT & INVESTOR RELATIONS Kris Rosemann MANAGER – CORPORATE DEVELOPMENT & INVESTOR RELATIONS (262) 506 -6064 InvestorRelations@generac.com 2 FORWARD LOOKING STATEMENTS Certain statements contained in this news release, as well as other inform ...

Complete Solaria (CSLR) Update / Briefing June 05, 2025 01:00 PM ET Speaker0 Good morning. I would like to welcome everyone to SunPower's 2Q business update call. A few housekeeping items before we start. Please note today's presentation may contain projections and other forward looking statements. These statements are subject to known and unknown risks and uncertainties that may cause actual results to differ from those expressed or implied in our statements. Also on today's conference call, we may discuss ...

26 May 2025 | 7:05AM CST China Solar: Tracking profitability inflection May profitability to drop below pre-rush installation levels, price stabilization efforts as key to watch Our China Solar Profitability Tracker follows monthly supply/demand and inventory dynamics by sub-sector, and the spot prices/input costs implied cash GP & EBITDA margin trends for companies under our coverage. Key highlights in May MTD: Goldman Sachs does and seeks to do business with companies covered in its research reports. As a ...

1 May 2025 | 10:37PM HKT China Export Tracker Number 2: What corporates are telling us (week of Apr 28, 2025) The China Export Tracker is a research product series put together by the GS China team, focusing on the changing dynamics of China exports to the US, amid the intensified uncertainty around export activity due to the US-China tariff escalation. In this tracker, we present our proprietary work across 48 corporates, with products representing nearly 70% of China export value by product group to the U ...

Investment Rating - The report maintains a "Buy" rating on Cell & Module and Film, while it has a "Sell" rating on Glass, Poly, Wafer, and Equipment [4]. Core Insights - The profitability of the solar industry is expected to face deterioration for Cell and Module, while Glass may see temporary improvement due to price hikes [6][14]. - The report highlights a significant decline in solar capital expenditure, projected at -55% year-over-year in 2025, alongside a lower capacity utilization rate averaging 59% from 2025 to 2030 [4]. - The report indicates that upstream pricing in China has started to lose momentum as the peak of rush installations is ending, while US module pricing has jumped due to a 90-day tariff exemption [19]. Summary by Sections Pricing Dynamics - As of April 17, 2025, month-to-date (MTD) spot prices for Poly/Wafer/Cell/Module/Glass/Film/Inverter in China showed average changes of -1%/-0.3%/-7%/+0.5%/+5%/+0%/+1%, while overseas module prices increased by 20% in the US [19]. - The report notes that inventory days across the value chain have improved to below 20 days, except for Poly at 40 days and Glass at 27 days, driven by strong domestic demand [13]. Production and Demand - Production volumes across the solar value chain are expected to recover significantly in April, with Poly/Wafer/Cell/Glass/Module projected to increase by +4%/+17%/+29%/+9%/+31% month-over-month [12]. - The report anticipates a decline in inventory levels across the value chain, with a lowered production-to-demand ratio at 94% in April compared to 104% in March [15]. Profitability Trends - The average cash gross profit margin (GPM) for Poly/Wafer/Cell/Module/Glass/Film in April showed changes of -0.3pp/+0.4pp/-11pp/-6pp/+3pp/+1pp, indicating a decline in profitability for Cell and Module [10]. - Monthly average cash profitability for the companies covered is expected to remain largely flat month-over-month in April, although it is better than the first quarter of 2025 [7].