PV Crystalox Solar plc (PVCS) 2011年年度报告「LSE」.pdf

1、PV Crystalox Solar PLC Annual Report and Accounts 2011The key to solar powerPV Crystalox Solar has navigated a very difficult 2011,which was a very challenging year for thePV industry.Worldwide production capacity continued to increase dramatically,particularly from companies in China,which led to s

2、harp falls in pricing across the PV value chain and drove wafer sales prices below production costs.The Board has taken action tomanage the business through these difficult times and in particular to conserve the Groups cash.Production output wassignificantly reduced at our ingot and wafer operation

3、s in the UnitedKingdom and Germany and polysilicon production was suspended atourfacilityin G PV Crystalox Solar PLC Annual Report and Accounts 20111Consolidated financial statementsCorporate governanceBusiness reviewOverviewOverview IFC About us 1 Highlights 2 Quick read 4 Chairmans statementBusine

4、ss review 6 Operational review 8 Operational review:Our strategy 12 Financial review 16 Principal risks and uncertainties 18 Corporate social responsibilityCorporate governance 20 Directors 22 Directors report 26 Corporate governance statement 32 Directors remuneration reportConsolidated financial s

5、tatements 40 Statement of directors responsibilities 41 Independent auditors report 42 Consolidated statement of comprehensive income 43 Consolidated balance sheet 44 Consolidated statement of changes in equity 45 Consolidated cash flow statement 46 Notes to the consolidated financial statementsComp

6、any financial statements 69 Statement of directors responsibilities 70 Independent auditors report 71 Accounting policies 72 Company balance sheet 73 Notes to the company financial statementsShareholder information 76 AdvisorsContentsMarket overview 2011 global module installations estimated at 27.7