Tag Archives: a-power energy

Good Night A-Power Energy (APWR)

Perhaps last night’s news of an auditor resignation and another filing delay is the nail in the coffin for APWR at least for a very long time.  APWR warned in April that a delay was coming, but the resignation of the auditor comes as a surprise.  I began been bashing the management of this company last year (much to the chagrin of one APWR pumper) for showing a consistent lack of credibility and it’s no … Read the rest

A-Power Energy (APWR) Explains Delay Of Financial Report

A-Power Energy (APWR) is explaining this morning why it’s delayed its earnings report.  They are basically just reiterating that it needs more time to complete the 2010 audit after both the internal and external teams indicated they wouldn’t finish in time.

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"While we very much regret the delay and confusion caused by our premature announcement of the conference call, it is most important that our financial … Read the rest

A-Power Energy (APWR) Postpones Earnings Again, Shares Down

Well, the credibility of A-Power Energy (APWR) is in question yet again this morning as the company postpones its earnings report once again.  You might remember that the company first postponed its earnings report back in November of last year and didn’t give a reason.  The stock was hit hard a few weeks later when the company finally reported and missed on earnings and guidance. 

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This … Read the rest

A-Power Energy (APWR) Catches A Bid On $30 Million Biomass Plant Win

You don’t hear much about the wind business of A-Power Energy (APWR) anymore as the company clearly is becoming more of a distributed power systems EPC company.  That’s not bad news as long as the company continues to win these contracts which they have been doing in recent months.  Today, they announced a definitive contract to develop two 15MW biomass plants for the Xin County Guangchao Biomass Power Generation LCC for $30 million.  The project … Read the rest

General Electric (GE) Issues Demand Of Arbitration On A-Power Energy (APWR) For Breaches Of Contract

A-Power Energy (APWR) is plunging more than 10% in early trading this morning after it announced it had received a demand for arbitration from General Electric (GE) for alleged breaches of contract related to gearboxes for wind turbines.

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A-Power indicated it hasn’t decided how to respond or what impact arbitration would have on its financials.

For those that follow APWR, you might remember that back Read the rest

A-Power Energy (APWR) Retracts GE Statement, Is Confident In Partnership

A-Power Energy (APWR) is retracting a statement it made during its last earnings conference call regarding their joint venture with General Electric (GE) and the wind turbine gearbox being designed by GE for APWR.  During the call the CEO said they  were in talks to buy GE China’s interest in their joint venture that makes wind turbine gearboxes, and would terminate a related supply deal with the U.S. firm.  Now the company is retracting the … Read the rest

A-Power Energy (APWR) Signs Another EPC Contract ($16.4 Million)

A-Power Energy (APWR) is on a bit of a roll of late securing nearly $50 million in EPC contracts.  A couple days ago the company announced a $32 million contract with Hainan Century Light for a biomass plant and last night the company announced it has signed a $16.4 million contract with Handan Fengfeng Pengtong Coking for a power generation project which includes a coke oven gas boiler and a 15MW steam turbine generator.  … Read the rest

A-Power Energy (APWR) Crushed After Big Miss, Lowered Guidance; Texas Wind Project Likely Dead

In the “you can’t trust the management of a China based company department” .. and there are an increasingly large number of these lately.. A-Power Energy (APWR) finally reveals that indeed the company is far from a leader in the China wind energy space and is struggling in its other business as well.  To make matters worse, the big Texas wind project (Spinning Star) is on life support and will likely never happen if additional … Read the rest

A-Power Energy (APWR) Postpones Quarterly Report, No Reason Given

You really have to begin to question whether it makes sense to hold any China based company for the long haul (or at all for that matter).  It seems there are more questionable companies trading as ADR’s on US exchanges (see DYP, DGW, RINO, etc)  Now we have A-Power Energy postponing its earnings results scheduled for tomorrow until “later in the year”.  Huh!?  The company says it is not related to any accounting regularities, but … Read the rest

A-Power Energy (APWR) Ships Prototype Wind Turbine For 600MW Spinning Star Project

It’s been a long time since we’ve heard any news regarding the controversial 600MW wind farm in Texas in which China based A-Power Energy (APWR) owns a large portion, but yesterday the company announced it has shipped a 2MW prototype wind turbine  to Texas to be installed and tested.

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Mr. Jinxiang Lu, A-Power’s Chairman and CEO commented, "We are very excited to announce … Read the rest