UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
6-K
REPORT
OF FOREIGN PRIVATE ISSUER
PURSUANT
TO RULE 13a-16 OR 15d-16 UNDER THE
SECURITIES
EXCHANGE ACT OF 1934
For the
month of July 2010
Commission
File Number: 001-33911
RENESOLA
LTD
No. 8
Baoqun Road, YaoZhuang
Jiashan,
Zhejiang 314117
People’s
Republic of China
(Address
of principal executive office)
Indicate
by check mark whether the registrant files or will file annual reports under
cover of Form 20-F or Form 40-F.
Form
20-F x Form
40-F o
Indicate
by check mark if the registrant is submitting the Form 6-K in paper as permitted
by Regulation S-T Rule 101(b)(1): ____________
Indicate
by check mark if the registrant is submitting the Form 6-K in paper as permitted
by Regulation S-T Rule 101(b)(7): ____________
Indicate
by check mark whether the registrant by furnishing the information contained in
this Form is also thereby furnishing the information to the Commission pursuant
to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes o
No x
If "Yes"
is marked, indicate below the file number assigned to the registrant in
connection with Rule 12g3-2(b):
|
82-
|
N/A
|
SIGNATURE
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has
duly caused this report to be signed on its behalf by the undersigned, thereunto
duly authorized.
| RENESOLA LTD | |||
|
|
By:
|
/s/ Xianshou Li | |
| Name: | Xianshou Li | ||
| Title: | Chief Executive Officer | ||
Date:
July 2, 2010
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Exhibit
Index
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Exhibit No.
|
Description
|
|
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99.1
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Press
release regarding preliminary second quarter 2010 results and second half
2010 guidance
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3
Exhibit
99.1
ReneSola
Announces Preliminary Second Quarter 2010 Results and Provides Second Half 2010
Guidance
--
Exceed high end of Q2 2010 guidance for total solar product shipments, net
revenues and gross profit margin
--
Provide 2H 2010 guidance for total solar product shipments, net revenues and
gross profit margin
JIASHAN, China, July 1, 2010 –
ReneSola Ltd (“ReneSola” or the “Company”) (NYSE: SOL) (AIM: SOLA), a leading
global manufacturer of solar wafers and producer of solar power products based
in China, today announced its selected preliminary unaudited results for the
second quarter of 2010 and provided its guidance for the second half of
2010.
Q2
2010 Preliminary Results
|
·
|
Total
solar product shipments for Q2 2010 are expected to be in the range of 250
megawatts (“MW”) to 260 MW, exceeding the Company’s previous guidance
range of 230 MW to 250 MW and representing an increase of 3.1% to 7.3%
from 242.4 MW in Q1 2010.
|
|
·
|
Net
revenues for Q2 2010 are expected to be in the range of US$245 million to
US$255 million, exceeding the Company’s previous guidance range of US$230
million to US$250 million and representing an increase of approximately
21.0% to 25.8% from US$206.6 million in Q1
2010.
|
|
·
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Gross
profit margin is expected to be in the range of 28% to 30%, exceeding the
Company’s previous guidance range of 21% to 23% and compared to 17.1% in
Q1 2010.
|
“The
strong demand for high-quality wafer products witnessed during the first quarter
of 2010 continued through the second quarter as a result of ongoing tightness in
the wafer supply chain,” said Li Xianshou, ReneSola’s chief executive officer.
“Execution of our cost reduction strategies and the efforts we have made to
develop and position our business have allowed us to capitalize on improved
demand trends while becoming a leading low-cost solar product provider. By
leveraging our leading wafer manufacturing platform and complementary OEM module
production services and capitalizing on our strong customer relationships, we
have benefited from a cost-competitive strategy to deliver record product
shipments and increased profitability. We expect to see stable pricing in the
coming months as demand has remained strong and is expected to continue in the
second half of 2010.”
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2H
2010 Outlook
For the
second half of 2010, the Company expects total solar product shipments to be in
the range of 600 MW to 650 MW. Net revenues are expected to be in the range of
US$550 million to US$570 million and gross profit margin is expected to be
between 28% and 30%.
ReneSola
will report its unaudited financial results for the second quarter ended June
30, 2010 before the U.S. markets open at 8 am U.S. Eastern Time on Monday,
August 9, 2010. Dial-in details for the conference call will be distributed in a
separate announcement and posted on the Investor Relations section of ReneSola’s
website prior to the call.
The
estimates provided in this press release are preliminary and may be adjusted as
part of the Company’s customary closing procedures for the second quarter of
2010. All estimates are based on the Company’s current views with respect to
operating and market conditions, which are subject to change. The Company’s
actual results may differ from its guidance.
About
ReneSola
ReneSola
is a leading global manufacturer of solar wafers and producer of solar power products
based in China. Capitalizing on proprietary technologies, economies of
scale, low-cost production capabilities and technological innovations and
know-how, ReneSola leverages its in-house virgin polysilicon and solar cell and
module production capabilities to provide its customers with high-quality,
cost-competitive solar wafer products and OEM services. The Company possesses a
global network of suppliers and customers that includes some of the leading
global manufacturers of solar cells and modules. ReneSola’s shares are traded on
the New York Stock Exchange (NYSE: SOL) and the AIM of the London Stock Exchange
(AIM: SOLA).
Safe
Harbor Statement
This
press release contains statements that constitute forward-looking statements
within the meaning
of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private
Securities Litigation Reform Act of 1995. Whenever you read a statement that is
not simply a statement of historical fact (such as when the Company describes
what it “believes,” “expects” or “anticipates” will occur, what “will” or
“could” happen, and other similar statements), you must remember that the
Company’s expectations may not be correct, even though it believes that they are
reasonable. The Company does not guarantee that the forward-looking statements
will happen as described or that they will happen at all. Further information
regarding risks and uncertainties that could cause actual results to differ
materially from those in the forward-looking statements is included in the
Company’s filings with the U.S. Securities and Exchange Commission, including
the Company’s annual report on Form 20-F. The Company undertakes no obligation,
beyond that required by law, to update any forward-looking statement to reflect
events or circumstances after the date on which the statement is made, even
though the Company’s situation may change in the future.
5
For
investor and media inquiries, please contact:
In
China:
Ms. Feng
Qi
ReneSola
Ltd
|
Phone:
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+86-573-8477-3903
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Email:
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feng.qi@renesola.com
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Mr. Derek
Mitchell
Ogilvy
Financial, Beijing
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Phone:
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+86-10-8520-6284
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Email:
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derek.mitchell@ogilvy.com
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In
the United States:
Ms.
Jessica Barist Cohen
Ogilvy
Financial, New York
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Phone:
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+1-646-460-9989
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Email:
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jessica.cohen@ogilvypr.com
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In
the United Kingdom:
Mr. Tim
Feather / Mr. Richard Baty
Westhouse
Securities Limited, London
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Phone:
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+44-20-7601-6100
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Email:
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tim.feather@westhousesecurities.com
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richard.baty@westhousesecurities.com
6