【出版时间及名称】：2010年2月德国光伏行业研究报告
        【作者】：法国农业信贷银行
        【文件格式】：pdf
        【页数】：52
        【目录或简介】：
CONTENTS
Summary 2
I— Cell equipment order cycle is starting 4
􀁑 Cell equipment order intake already picking up in late 2009 4
􀁑 Polysilicon equipment order intake may have peaked 7
􀁑 Buy cell equipment exposure: Roth & Rau, Manz Automation 10
II— Valuation and estimate changes 12
􀁑 Peer group valuation: equipment producers only 12
􀁑 Peer group valuation: solar peers 15
􀁑 Cheuvreux vs. consensus 15
III— Roth & Rau 16
􀁑 Investment summary 16
􀁑 Financials 17
􀁑 Order intake at group level 20
􀁑 Company profile 21
IV— Manz Automation 28
􀁑 Investment summary 28
􀁑 Financials 29
􀁑 Order intake 32
􀁑 Company profile 32
V— Centrotherm 41
􀁑 Investment summary 41
􀁑 Financials 42
􀁑 Order backlog 44
􀁑 Company profile 45