Major solar panel makers include First Solar, Suntech Power, Trina Solar, Sharp and SunPower.
Trina Solar also posted a recent rise in its share price, as did Yingli Green Energy.
Sun Haiyan of Trina Solar, a solar-equipment firm, says that, as a global company, it has to manufacture locally.
First Solar (FSLR) is also about 28% of the fund, followed by Trina Solar (TSL), the third-largest holding at 17%.
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Other major Chinese solar producers, including Yingli Green Energy, LDK Solar and Trina Solar, have also reported heavy losses.
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His company uses panels from what he refers to as Tier-1 suppliers: Suntech ( STP), Trina Solar ( TSL), Yingli (YGE), Sharp and Kyocera.
On Tuesday, Trina Solar announced its earnings surged during the fourth quarter, beating expectations, on strong demand for solar-power systems and higher profit margins.
Trina Solar shares are trading sharply lower Thursday morning after the company reported a substantial loss and declining gross margins in the fourth quarter.
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Suntech Power, Trina Solar and Upsolar among others have offices there.
Trina Solar ( TSL - news - people ), Yingli Green Energy and Suntech Power all down at least 75% from their peaks.
The big reason, according to Bachman: Cheap panel prices offered by Asian manufacturers like Suntech Power, Sharp, Trina Solar, Yingli Green Energy and Kyocera Solar.
The company's report helped boost fellow Chinese solar firms such as JA Solar Holdings, which gained 2.5%, while Trina Solar increased 2.9%, and LDK Solar rose 4.7%.
Trina Solar, for example, reported Tuesday a 155% jump in quarterly revenues over the same period last year and it beat its own targets for panels shipped.
The Ministry of Science and Technology confirmed that it has provided subsidies to more than 100 solar companies, including U.S. listed players Trina Solar and Yingli Green Energy.
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During the depths of the financial crisis in 2008, Mike made big bets on financial stocks like Radian Group ( RAD) and Trina Solar ( TSL) and profited handsomely.
Suntech Power is shutting down about a quarter of its capacity to manufacture solar cells, and it appears that Trina Solar will also slim down its operations in coming months.
In response, Piper today reduced ratings on Canadian Solar (CSIQ), JA Solar (JASO), SunPower (SPWRA), Yingli Green Energy (YGE), Trina Solar (TSL) and Suntech (STP).
As you can see from the chart above, the current price leaders are First Solar (NASD:FSLR), Renesola (NYSE:SOL), Trina Solar (NASD:TSL), Yingli Green Energy (NYSE:YGE), and Jinko Solar (NYSE:JKS).
That leap of reason gave solar stocks an even greater bounce than their oil counterparts as companies like SunPower, First Solar, Evergreen Solar, Trina Solar, and Canadian Solar, gained 6.1%, 4.0%, 7.8%, 7.1%, and 17.2%, respectively.
On the flip side were several of its direct competitors, such as Suntech Power, Yingli Green Energy, Trina Solar, and LDK Solar, all up substantially on the day. (For a bullish thesis on wind, read Wind Energy Is Poised To Pop After Strong First Quarter).
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Four Chinese firms warned against escalating trade tensions on Thursday - Yingli, Suntech, Trina and Canadian Solar.
But over the past few years, the rapid expansion of low-cost Chinese manufacturers like Suntech, Yingli and Trina has sent the cost of conventional solar panels plummeting.
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Silicon prices fell ten-fold and Chinese solar companies like Suntech, Yingli and Trina ramped up production to further lower costs.
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