LDK Solar Co., Ltd. (LDK Solar) has announced another revision to 2Q 09 revenue and wafer shipment guidance, revising expectations upwards to US$225 mn-US$235 mn and 230-240 megawatts (MV) respectively. The company expects to record negative gross margin and a net loss of US$180 mn- US$200 mn as a result of a writedown on the cost of inventories resulting from the decline in market price of solar wafers. We remain concerned by…

LDK Solar Co., Ltd. (LDK Solar) has announced 2Q 09 revenue guidance of US$215 mn-US$225 mn, lower than market expectations. The company has, however, revised upwards its guidance for solar wafer shipments. In light of robust solar wafer shipments, the company plans to ramp up the annualized production capacity of its wafer plant to 2.0 gigawatts (GW) by the end of FY 2009. The company has also secured approximately US$146 mn financing for polysilicon plant construction....

LDK Solar Co., Ltd.'s (LDK Solar) 1Q 09 top-line outperformed our expectations but its operating performance was below our expectations. Despite this, the net level performance was broadly in line with our expectations. Management’s wafer shipment guidance for 2Q 09 lies below our forecast and because of this we are likely to revise our top-line estimates downwards in our next update report. We maintain our…