"Suntech" redirects here. For the building in Malaysia, see SUNTECH Tower. For similar uses, see Suntec.
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Suntech Power Holdings Co., Ltd.
Company type
Public
Industry
Photovoltaics
Founded
September 2001
Founder
Shi Zhengrong
Headquarters
Wuxi, Jiangsu
,
China
Number of locations
United States, Germany, Switzerland, Japan, Australia, Italy, Spain
Revenue
US$3.15 Billion (FY 2011)[1]
Operating income
-US$616 Million (FY 2011)[1]
Net income
-US$1.00 Billion (FY 2011)[1]
Total assets
US$2.09 Billion (FY 2011) [2]
Total equity
US$946 Million (FY 2011)[2]
Parent
Shunfeng International Clean Energy Limited
Website
www.suntech-power.com/
Suntech Power Holdings Co., Ltd. (Chinese: 尚德; pinyin: Shàngdé) is a Chinese producer of solar panels, with 2,000 MW (2,700,000 hp) of annual production capacity by the end of 2011. It is headquartered in Wuxi, Jiangsu. Shunfeng International Clean Energy Limited, a HKSE listed renewable energy investment and Independent Power Producer company, acquired Suntech in 2014 following Suntech's bankruptcy in 2013.[3] With offices or production facilities in every major market, Suntech has delivered more than 13,000,000 solar panels to thousands of companies in more than 80 countries around the world.[4] As the center for the company's global operations, Suntech headquarters, in Wuxi, China, features the world's largest building integrated solar facade.[5]
Suntech's fortunes have declined significantly since its peak in 2008, due to a glut in the market for solar products and problems with its investments. In March 2013 it announced a US$541 million bond payment default, becoming the first company from mainland China to default on its US bonds.[6][7]
Chinese banks subsequently filed to place Suntech's main unit, Wuxi Suntech Power Holdings Co., Ltd., into insolvency.[8][9] The company's American Depository Receipts were subsequently delisted from the New York Stock Exchange and placed on the over the counter (OTC) exchange.
^ abcSuntech's annual income statement via Wikinvest
^ abSuntech's annual balance sheet via Wikinvest
^[1] Suntech Press Release, 2014
^"Suntech - About - Investors - Press Releases". Ir.suntech-power.com. 2011-02-28. Archived from the original on 2012-07-09. Retrieved 2014-03-24.
^[2] Archived January 17, 2009, at the Wayback Machine
^Alex Morales & Christopher Martin (2013-03-18). "Suntech Defaults on $541 Million Bond, a First for China". Bloomberg.
^"Suntech announces default, search for financing". The Sydney Morning Herald.
^Ehren Goossens & Justin Doom (2013-03-21). "Biggest Solar Collapse in China Imperils $1.28 Billion: Energy". Bloomberg.
^Wee, Sui-Lee (2013-03-20). "UPDATE 2-Solar pain hits China as Suntech unit nears insolvency". Reuters.
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Global Information
US$3.15 Billion (FY 2011)[1]
-US$616 Million (FY 2011)[1]