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Whether you're walking a tightrope or scribbling in your checkbook, balance is a good thing. And, one of the best ways to evaluate a company is to glance at its balance sheet to see what it owns with what it owes.
The balance sheet is a paragon of simplicity and is made up of three components: assets (the stuff it owns), liabilities (the money it owes), and shareholders' equity (the company's value to its shareholders).
Assets take two forms: short-term (or current) assets and long-term assets. Under short-term, there¿s good ol' hard cash. Then, there¿s something called "cash equivalents," which are assets like short-term bonds that can be sold so quickly, they might as well be cash. There you factor in inventory, which (if you're a reasonably competent business owner) you can sell to customers in return for--you guessed it--cash. (The raw materials a company owns to make that inventory also falls under this category.)
Long-term assets are things that are harder to convert into cash. (Think real estate and equipment.) Long-term assets depreciate, meaning they lose some value over time. Also under the long-term category are what's called intangible assets: things like patents and brands, that are important, but hard to quantify. Accountants earn their stripes figuring out the real overall value of these assets.
Once you know your assets, it's time for liabilities. As with assets, liabilities are separated into short-term or current, and long-term. Current liabilities are what a company owes in that year: Things like payments to employees or accounts payable to suppliers. Long-term liabilities are debts paid over several years.
Shareholders' equity is determined by subtracting the liabilities from the assets. That number represents the value of the company after all its bills are paid.
Obviously, investors should pay close attention to balance sheets. Spikes in the amount of debt carried, or a reduction in shareholders' equity, are usually red flags.
Home / Markets / Industries / Technology
Thursday, July 17, 2008
ReneSola Appoints Mr. Robert Naii Lee as Independent Director to Replace Retired Director
Comtex
JIASHAN, China, July 17, 2008 /Xinhua-PRNewswire via COMTEX/ ----ReneSola Ltd ("ReneSola" or the "Company"), a leading global manufacturer of solar wafers, is pleased to announce the appointment of Mr. Robert Naii Lee to its board as an independent director. Mr. Lee replaces Mr. Binghua Huang who has retired as director and chief technology officer.
(Logo: http://www.newscom.com/cgi-bin/prnh/20080506/CNTU030 )
"We are delighted to welcome Mr. Lee as an independent director to our board," said Mr. Xianshou Li, ReneSola's chief executive officer. "Mr. Lee has an extensive engineering background with over 20 years of executive experience in the semiconductor industry. We are confident that his expertise will provide valuable support to ReneSola as we continue in our goal of becoming a leading player in the global solar power industry."
"Mr. Huang served as both a director on our board and chief technology officer beginning in 2006 and we are very thankful for his valuable service to ReneSola. Mr. Huang will continue to work with us as an advisor to help enhance ReneSola's competitive advantage as a low cost supplier of wafers to the solar industry," added Mr. Li.
Mr. Robert Naii Lee, aged 60, previously served executive roles as vice president and president for Central Semiconductor Manufacturing Corporation ("CSMC") from 1998 to 2007. Prior to joining CSMC, Mr. Lee co-founded and served as vice president of KFI, a semiconductor equipment and technology company in California, from 1985 to 1998. Mr. Lee held engineering and project management positions with Bechtel Corporation and Quadrex Corporation before KFI. Mr. Lee holds a master's degree in nuclear engineering from the University of California, Berkeley, and a master's degree in physics from the University of Georgia, USA.
ReneSola is currently assessing candidates to fill a management position opened by the retirement of Mr. Huang. ReneSola's board of directors now consists of two ReneSola executive officers and three independent directors.
Mr. Lee has confirmed that other than the above there are no further disclosures required under Schedule 2 paragraph (g) of the AIM Rules.
About ReneSola
ReneSola Ltd ("ReneSola") is a leading global solar wafer manufacturer. Capitalizing on proprietary technologies and technical know-how, ReneSola manufactures monocrystalline and multicrystalline solar wafers, which are thin sheets of crystalline silicon material primarily used in the production of solar cells. In addition, ReneSola strives to enhance its competitiveness through upstream integration into virgin polysilicon manufacturing. ReneSola possesses a global network of suppliers and customers that include some of the leading global manufacturers of solar cells and modules. ReneSola's shares are currently traded on the New York Stock Exchange (NYSE: SOL) and the AIM of the London Stock Exchange (AIM: SOLA). For more information about ReneSola, please visit http://www.renesola.com .
Safe Harbor Statement
This press release may contain 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 we describe what we "believe," "expect" or "anticipate" will occur, what "will" or "could" happen, and other similar statements), you must remember that our expectations may not be correct, even though we believe that they are reasonable. We do 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 our filings with the U.S. Securities and Exchange Commission, including our registration statement on Form F-1. We undertake 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 our situation may change in the future.
For investor and media inquiries, please contact: In China: Mr. Charles Bai ReneSola Ltd Tel: +86-573-8477-3061 Email: charles.bai@renesola.com Mr. Derek Mitchell Ogilvy Financial, Beijing Tel: +86-10-8520-6284 Email: derek.mitchell@ogilvy.com In the US: Mr. Jeremy Bridgman Ogilvy Financial, New York Tel: +1-212-880-5363 Email: jeremy.bridgman@ogilvypr.com In the UK: Mr. Tim Feather Hanson Westhouse Limited Tel: +44-207-601-6100 Email: tim.feather@hansonwesthouse.com
SOURCE ReneSola Ltd
http://www.renesola.com
Copyright (C) 2008 PR Newswire. All rights reserved
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