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PERSONAL, UNDILUTED VIEWS FROM TOM WINNIFRITH

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LDK Solar: Dismal Q2 numbers - Shareholders Equity gone by Christmas?

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- Tom Winnifrith

Chinese solar play LDK Solar (LDK) announced results for the three months ending June 30th, 2012, on September 17th. The figures were shockingly bad, even worse than analysts had forecast, and the outlook statement offered little prospect of recovery. At this rate it seems likely that by Christmas the company will have negative shareholder funds. At $1.25 (down 13 cents from my original sell advice on August 30th) and still capitalised at $167 million, the stock remains a sell with a target price of virtually nothing.

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