«
»

Updated Balance Sheet from ReneSola

Mar 12, 2009 – Updated Balance Sheet from ReneSola [NYSE: SOL]; see below.

CONSOLIDATED BALANCE SHEET  
   As at   As at   As at 
  December 31, 2007 September 30, 2008 December 31, 2008
   US$000   US$000   US$000 
ASSETS
Current assets:      
Cash and cash equivalents                        53,137                       99,441                      112,333
Restricted cash                                  -                       25,755                          5,958
Accounts receivable, net of allowances for doubtful receivables                         8,755                         3,367                        43,160
Inventories                      110,630                     319,744                      193,036
Advances to suppliers                       53,727                     123,955                        37,573
Amounts due from related parties                       17,213                         5,954                             457
Value added tax recoverable                            117                            982                        15,498
Prepaid expenses and other current assets                          9,654                       15,048                        15,158
Deferred tax assets                        10,487                         1,330                        18,616
Total current assets                      263,720                     595,576                      441,789
       
Property, plant and equipment, net                     136,598                     260,864                      341,427
Prepaid land rent, net                         7,502                         7,900                        13,472
Deferred tax assets                            284                            227                          2,340
Deferred convertible bond issue costs                         3,336                         2,384                          1,970
Advances to suppliers over one year                                 -                                 -                        41,462
Advances for purchases of property, plant and equipment                        29,648                     182,586                      161,705
Equity investment                                  -                       23,423                                  -
Other long-term assets                                 -                            760                          1,011
Total assets                      441,088                  1,073,720                   1,005,176
       
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:      
Short-term borrowings                        71,691                     167,225                      191,987
Accounts payable                        13,147                       20,177                        37,942
Advances from customers                        59,626                     152,189                        49,284
Amount due to related party                                  -                                 -                        11,863
Other current liabilities                        13,912                       28,283                        42,060
Total current liabilities                      158,376                     367,874                      333,136
       
Convertible bond payable                      128,265                     139,173                      138,904
Long-term borrowings                        17,797                       44,773                        32,833
Advances from customers                                 -                                 -                      105,203
Other long-term liabilities                          1,246                         7,875                        11,357
Total liabilities                      305,684                     559,695                      621,433
       
Minority interest:                         9,696                            775                             279
Shareholders’ equity
  Common shares                        36,266                     330,666                      330,666
  Additional paid-in capital                        14,827                       17,674                        17,769
  Retained earnings                         66,200                     139,569                        12,949
  Accumulated other comprehensive income                          8,415                       25,341                        22,080
Total shareholders’ equity                      125,708                     513,250                      383,464
       
Total liabilities and shareholders’ equity                      441,088                  1,073,720                   1,005,176

This entry was posted on Thursday, March 12th, 2009 at 9:27 am and is filed under INVESTMENTS, SOLAR POWER. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

Leave a Comment

CAPTCHA Image
*