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The four largest Chinese solar cell manufacturers including Canadian Solar (NASDAQ: CSIQ) smuggled US currency through operations in Southeast Asia, according to findings from the US Department of Commerce. The survey was issued on Friday.
Canadian Solar ( CSIQ ), which exports to Thailand, will be undervalued by 16%, according to earnings, while JinkoSolar (NYSE: JKS), and property in Malaysia, was found to be in compliance with tax laws; stocks of both companies are showing huge gains, +5.5% and + 11.5% respectively.
The most widely traded solar names are Enphase Energy (ENPH) + 6% to regular SolarEdge Technologies (SEDG). +5.2% both leading the S&P 500; other beneficiaries include SunPower ( SPWR ) + 4.5%Maxeon Solar (MAXN) +5.9%Shoals Technologies (SHLS) +6.3%Array Technologies (ARRY) +9.2%First Solar (FSLR) +0.6%.
ETF: (NYSEARCA: TAN)
The research could force companies to invest more in manufacturing their equipment in the US or to find alternatives from overseas to meet the growing demand for solar panels.
The report may indicate increased prices for solar, but not immediately, because in June the Biden administration suspended work for two years to give importers time to adapt, and invoked the Defense Production Act to help US suppliers compete with Asian players. promote domestic production of solar panels.
Industry groups have warned the government’s move to slow the solar movement in the US
The Commerce Department will release the final results of its survey in May after conducting industry surveys and gathering public comments.
JinkoSolar’s (JKS) “TTM revenue growth of over 140% year-on-year makes it possible to increase, [and] The three-year average CAGR is 35.3%,” writes Motek Moyen in a recent analysis posted on Seeking Alpha.
