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China Sunergy cuts FY shipment outlook

BANGALORE (Reuters) - China Sunergy Co Ltd cut its full-year shipment outlook, prompted by lower shipments and selling prices in the second quarter, and the solar cell and module maker said it...

BANGALORE (Reuters) - China Sunergy Co Ltd cut its full-year shipment outlook, prompted by lower shipments and selling prices in the second quarter, and the solar cell and module maker said it expects a further drop in the prices in the rest of the year.

China Sunergy's American Depository Shares (ADSs) fell as much as 5 percent to $1.20 -- a near three-week low -- in Friday early trading on Nasdaq. The stock has lost about 73 percent of its value in the last six months.

"From the general look we have, average selling price of modules continue falling down," a company executive said on a conference call with analysts.

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