Jetion Holdings
Jetion Holdings Limited (Chinese: 中建材浚鑫科技有限公司; AIM: JHL) is a designer, manufacturer and supplier of solar cells and modules. The holdings holds the factory Jiangyin Jetion Science and Technology Co Ltd which is located at Jiangyin (a county-level city of Wuxi), Jiangsu, China. During the year ended 2007, the company had a cell manufacturing capacity of 50 megawatts, and a module capacity of 40 megawatts. The company's output of solar cells for 2007 was 35.2 megawatts. In October 2007, it established a European joint venture, Jetion Europe. In March 2008, Jetion announced that it had entered into an agreement with a Japanese company to purchase 100 megawatts of solar polycrystalline silicon feedstock with immediate effect through until 2011.
History
[edit]Jetion listed on the Alternative Investment Market in 2007.[1] The "Deloitte Technology Fast 500 Asia-Pacific", which identifies the most rapidly expanding businesses in the Asia–Pacific, listed Jetion as number two in 2008.[1] Robert Linsday of The Times in 2008 attributed Jetion's stock market "slump" to "a perception that it has not communicated well enough with the market".[2] Spain is a significant market for the company.[3]
In 2009, Jetion fired its CEO and three members of its leadership team, citing "breaches of their service contracts and fiduciary duties". Comparing Jetion to Bodisen Biotech, the Nomura Securities analyst John-Marc Bunce stated that this action was "likely to have a sentimental knock-on effect on other foreign-listed Chinese companies".[4]
Finance
[edit]For the six months ended 30 June 2008, Jetion Holdings Limited's revenues totaled $100.7M, up from $38.6M. Net income totaled $9.7M, up from $2.8M. Revenues reflect an increase in income from cells and modules segment. Net income reflects the presence of other income, lower research & development expenses, increased finance income and the presence of share of profits less losses of joint controlled entity.
References
[edit]- ^ a b Stafford, Philip (2010-06-03). "Jetion hopes to catch light in Asia listing". Financial Times. ProQuest 365507657. Retrieved 2024-10-26.
- ^ Lindsay, Robert (2008-07-16). "Market takes a shine to Jetion". The Times. Archived from the original on 2024-10-26. Retrieved 2024-10-26.
- ^ Lindsay, Robert (2008-03-11). "Jetion could benefit from Spanish election". The Times. Archived from the original on 2024-10-26. Retrieved 2024-10-26.
- ^ Blackwell, David (2009-06-17). "Jetion dismisses four of its top staff". Financial Times. Archived from the original on 2022-04-09. Retrieved 2024-10-26.
