【LDK】遊戲開始透明了

1, 今天 yahoo msg board 已經沒人提Audit的事兒了.

2, CC solid. 幾個又笨又傲慢的Analyst的表現，都被不客氣地一棒打回。PJ 的那個笨蛋試圖含沙映射margin比別人高，回答：“we can't comment on others, but we can comment on LDK. If you travel to China and see what kinds of feedstock we use, you will understand...". GS的Sherly Tang膽戰心驚地問兩個雞毛蒜皮的"how much prepayment" kind of questions, CFO said, "ready our Q3 report, already about $60-70m there". CIBC 簡直rude, 一會兒問2008 Poly supply 為什麽不是variable pricing, Peng just flatly said "fixed quantity fixed price", 一會兒說LDK憨大，買了別人的舊機器，LDK 的回答基本上是“what are you talking about?... they sold the machine and singed the contract to buy wafer product back". 　

3, Expansion well on track. Poly 的廠子已經在澆水泥了。 各種節約挖潛提效的措施。

4, 2008的數字很明確。Shipping volume at 530MW. Rev at about $1.1B, gross margin 25%-30%, net income $240--300m, earning per share at $2--$2.5. Growth rate solidly over 100%. At 60， 2008 PEG is 25%--30%。

5, 許多非Wall St 的分析開始出現，如大千貼的 Kudlow China，幾個莫名其妙的Wall St Analysts 利用信息不對稱而一手遮天的日子估計是不會再回來了。

6，明天的賣方，是前期被套的空方來打壓突圍，和一部分套利的短期交易者。 明天以後的買方，將是FA驅動的中長期買家。尤其是Mutual Fund 的買家，將是堅定且強大的。

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So, tommorrow let the water fall first. 天要下雨，而已。