LDK Solar Comments on Recent Events andUpdates Q307 Revenue Guidance to Between $140 to $150 Million
Xinyu City,China and Sunnyvale,CA,October 9, 2007 – LDK Solar Co.,Ltd. (NYSE:LDK), a leading manufacturer of multicrystalline solar wafers, today commented on recent inaccuracies and misperceptions in the market and the media.
On October 4, 2007,LDK Solar issued a statement refuting certain allegations made by a former employee who was terminated for cause regarding its inventory reporting after LDK’s management conducted an internal investigation and physical inventory counts and found no material discrepancies as compared to LDK’s published financial statements.In addition, LDK’s Audit Committee is in the process of conducting a review of the inventory and will disclose its findings to the public in due course.LDK’s management team continues to believe that the allegations made by a disgruntled, former employee have no merit.
LDK Solar would like to clarify certain misperceptions that have recently been circulated.
About LDK Solar
LDK Solar Co., Ltd. is a leading manufacturer of multicrystalline solar wafers, which are the principal raw material used to produce solar cells. LDK sells multicrystalline wafers globally to manufacturers of photovoltaic products, including solar cells and solar modules. In addition, the company provides wafer processing services to monocrystalline and multicrystalline solar cell and module manufacturers. LDK's headquarters and manufacturing facilities are located in Hi-Tech Industrial Park, Xinyu City, Jiangxi province in the People's Republic of China. The company's office in the United States is located in Sunnyvale, California.
Safe Harbor Statement
This press release includes statements that may constitute forward-looking statements made pursuant to the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Although LDK believes that the expectations reflected in such forward-looking statements are based on reasonable assumptions, such statements are subject to risk and uncertainties that could cause actual results to differ materially from those projected. For
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