Category Archives: Worldwide Energy and Manufacturing WEMU

Worldwide Energy & Manufacturing USA, Inc. (WEMU) Expecting 160% Annual Revenue Growth

December 7, 2010

Worldwide Energy & Manufacturing USA Inc., provider of photovoltaic solar modules and other mechanical and electronic parts for residential, commercial, industrial, and public utility applications around the world, indicated today that 2010 revenues for the company are expected to increase 160% over the previous year, topping out at between $160 million and $165 million. The estimate is based largely on contracts and commitments for the company’s fast growing Solar Division, with its AmeriSolar brand of solar modules. The company also anticipates increased production at its new state-of-the-art manufacturing and research facility in Nantong, China, which should result in improved margins.

Worldwide’s CEO, Jimmy Wang, said of the anticipated growth, “We expect to achieve significant revenue growth for the fiscal year ending 2010 and going forward given the strong growth we see in the global solar market and increasing demand for our AmeriSolar PV modules. Europe continues to be a strong market for our products, particularly for us in Italy and the U.K, and we anticipate that Asia and the U.S. will become growing markets in the next three to four years, where we are already well positioned. Solar is a very fast growing industry within the clean tech sector and we are confident that we are taking the right steps to aggressively grow our customer base as spending on renewable energy continues to rise.”

Worldwide Energy & Mfg USA is headquartered in South San Francisco, but with its subsidiaries and operations in Shanghai and other parts of China. The company manufactures a wide range of mechanical, electronic, and fiber optic products, but with special focus on its growing photovoltaic products. It serves a global customer base in the solar energy, wireless telecommunications, aerospace, automotive, and medical equipment industries.

For more information, visit the company’s website at www.WWMUSA.com

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Worldwide Energy and Manufacturing USA, Inc. (WEMU.OB) 2Q Data Shows Strong Market Position

July 22, 2010

Worldwide Energy and Manufacturing USA, Inc., www.wwmusa.com – the San Francisco, CA-based developer/manufacturer of photovoltaic (PV) panel, electronics, fiber optics and associated mechanical parts with a 16-year track record emphasizing sophisticated engineering, issued a 2Q (ending June 30) operational status update today.

A global provider to the aerospace, automotive, medical equipment, wireless telecom and especially solar industries, WEMU has a manufacturing facility in China allowing it to meet demands at half the price of similar products made in the US.

Securing 15 new solar customer contracts in 2Q (mostly in France, Germany, Italy and the UK), WEMU’s Solar Division now clocks in at roughly 60 customers, with an average of 1 MW per order from the new clientele (largest single client 17.5 MW) and a $100M backlog for the Company as a whole. The Company anticipates that the vast majority of pending orders will be ready and shipped by year’s end.

A 270% increase over last year shows delivery of some $38M+ orders in 2Q, with the solar division alone shipping $35M (370% increase).

With the meteoric rise of global demand for PV panels continuing unabated, even stronger demand is projected for the second half of 2010.

Solarbuzz, the widely known and respected solar research and consulting firm, doubled its 2010 projections for the size of the PV market (15.2 GW) compared to last year, and the industry as a whole saw revenue increase across the board by roughly 300% ($12B) in 1Q FY10 compared to 2009.

CEO of WEMU, Jimmy Wang, noted the healthy order backlog and recent tacking-on of additional clientele as strong indicators of the Company’s increasing reputation within the industry as a quality provider, and projected extremely strong financials and solid returns to WEMU shareholders for the second half of 2010.

WEMU’s small but vibrant engineering team fulfills orders as a contract manufacturer and engineering services company through wholly-owned subsidiary, Shanghai Intech Electro-Mechanical Products Co, Ltd., which provides its expertise as an engineering firm in a variety of functions for component manufacturers and purchasers seeking to do business in China.

With over 100 high-tech component customers in the US alone, WEMU has developed a sophisticated network of sub-contractors and relationships, establishing itself as a major industry conduit well-poised to execute its strategy of ramping up its footprint in the PV market.

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Worldwide Energy and Manufacturing USA, Inc. (WEMU.OB) Clarifies and Reaffirms Guidance for FY 2009

November 18, 2009

Worldwide Energy and Manufacturing USA, Inc.’s management today clarified and reaffirmed guidance for the 2009 fiscal year ending December 31, 2009.

Jimmy Wang, chief executive officer of Worldwide Energy and Manufacturing USA, Inc., stated, “The Company reaffirms guidance previously provided in our November 5, 2009, third-quarter earnings conference call that we expect annual revenues of at least $60 million and an EBITDA of $2.8 million for fiscal year 2009.”

Wang added, “Our solar division expects to ship orders totaling at least 10 megawatts, representing approximately $20 million in revenues, in the fourth quarter of 2009. Additionally, our contract manufacturing division should create at least $3 million in revenues for the quarter. This would bring our total fiscal year 2009 revenues in excess of $60 million. Fiscal year 2009 earnings would come in at about $1.8 million, which results in net earnings per share of $0.50 on a fully diluted basis.

“We continue to see increasing sales growth from the existing and a number of new customers and improving margins from ramping up production at our solar manufacturing facility in China. We expect a strong fourth quarter and continued growth in our solar division, which comprised 83% of our sales in the third quarter. We are encouraged by our progress and continued strong sales performance,” he concluded.

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Worldwide Energy and Manufacturing USA, Inc. (WEMU.OB) Selects Nationally Recognized SEC Law Firm and Accounting Firm

June 16, 2009

Worldwide Energy and Manufacturing USA, Inc., a U.S.-based China manufacturing company specializing in photovoltaic (PV) panel, mechanical, electronics and fiber optic products manufacturing, announced that it has engaged the services of a new SEC law firm, Sichenzia Ross Friedman Ference LLP, and a nationally recognized accounting firm, Windes & McClaughry Accountancy Corporation.

Worldwide Energy’s Chief Executive Officer Jimmy Wang commented, “In order to ensure that WEMU is prepared for a listing on a national exchange, I have significantly strengthened our accounting and legal representation. Given our extraordinary growth and my vision to build a world-class solar company, I want to be sure that we are represented by experienced, nationally recognized firms.”

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Worldwide Energy & Manufacturing (WEMU.OB) Announces Record Quarterly Revenue and Net Income

May 18, 2009

Worldwide Energy and Manufacturing USA, Inc., a fast growing manufacturing middleman between China and the U.S., recently announced record revenue and net income for the first quarter of 2009. Revenue increased a whopping 90% to $10.3 million, while net income jumped 132% to just over $506,000. Earnings per share increased 18% to $.13 when compared to the same period last year.

Worldwide serves clients as an engineering and quality control firm, handling contract manufacturing in China. It allows U.S. and other clients to enjoy the huge cost savings of manufacturing in China, roughly 50% or more, with none of the headaches involved in supervising an overseas operation.

Worldwide works with approximately 100 companies, primarily in the wireless antenna, aerospace, automotive, and electronics industries, but its many subcontractor contacts in the Shanghai area of China allow it to serve almost any manufacturing need. For example, the company’s successful Solar Division, with a new plant opening in China, provides photovoltaic electric power for residential, commercial, industrial, and public utility applications around the world. It’s this cross-industry flexibility that allows the company to grow even as national economies contract.

Worldwide CEO Jimmy Wang, spoke specifically of the company’s successful Solar Division: “We are very pleased to announce the best first quarter in the company’s history. Our solar energy division is performing well; and with increased capacity and new solar contracts, we expect to experience strong financial growth for the remainder of 2009. We are pleased that our new solar factory is open and producing, which will help to increase our gross margins for the energy division and the company as a whole. Our strong financial performance clearly demonstrates that the company has successfully made the transition into the renewable energy market and solar module manufacturing. The remainder of 2009 is on track for explosive growth with records for both revenue and profitability.”

In addition, the company is now in the process of evaluating for purchase various manufacturing operations in China, providing even more control and flexibility in its offerings.

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Worldwide Energy and Manufacturing USA, Inc. (WEMU.OB) Reports Backlog of $52 Million in Solar Module Contracts

March 18, 2009

Worldwide Energy and Manufacturing USA, Inc., a Chinese manufacturing company specializing in products for customers in the industries of solar energy, aerospace, wireless telecommunications, medical equipment and automotive, announced today that its solar division has a backlog totaling $52 million in solar module contracts. To date, the company has signed approximately $90 million in new contracts, most of which are anticipated to be recorded during the current calendar year.

Worldwide Energy’s Chief Executive Officer Jimmy Wang stated, “Our solar division continues to obtain new module contracts from new customers as well as existing customers demonstrating our ability to retain customers as well to gain new customers in the renewable energy market despite of the temporary downturn on the worldwide demand for renewable alternative energy consumption.”

He added, “We are very encouraged by the achievement we have made and anticipate another triple digit growth for our solar business this year. We will continue to expand our market share in the solar sector as we have become one of the fastest growing companies in the clean-tech industry.”

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Worldwide Energy and Manufacturing USA, Inc. (WEMU.OB) CEO Provides Shareholder Letter; Updates Investors on Company Progress

March 10, 2009

Worldwide Energy and Manufacturing USA, Inc., a U.S.-based China manufacturing company focused on producing products for customers in the industries of solar energy, aerospace, wireless telecommunications, medical equipment and automotive, today issued a press release containing CEO Jimmy Wang’s letter to shareholders. The entire letter has been posted below.

Dear Shareholder:

I want to personally thank you for your support of Worldwide Energy and Manufacturing USA, Inc. (“Worldwide”). I also want to report to you our achievements over the last twelve months, as well as our future plans.

First, I want you to know that we recently applied for listing on NASDAQ. Along with our 4th quarter numbers, we will qualify for NASDAQ:CM when we reach a bid price of $4.00 for two consecutive days. As you know, a NASDAQ listing will increase our visibility dramatically, and will open up a vast network of stockbrokers who can purchase our stock for their investors. We are working on various investor outreach programs through RedChip Companies. We have participated in 5 investor conferences, appeared on RedChip national radio numerous times, met with dozens of fund managers and hundreds of stock brokers and investors. We will continue with these efforts with the intent of creating greater awareness of our Company, our goals and achievements. A major impetus for applying for a NASDAQ listing is due to the many stockbrokers who have expressed interest in our stock, but who have been unable to take a position because our stock was not listed on the NASDAQ exchange.

As you know, I founded Worldwide Energy and Manufacturing USA, Inc. in 1993. We went public in 2004 through a reverse merger. We began as a contract manufacturer, making mechanical, electronics, and fiber optic products for customers in the aerospace industry, in wireless telecommunications, in the semi-conductor industry, in instrumentation, in the medical equipment industry, and in the automotive industry. Every year since going public we have achieved a four year average revenue growth of 83.83% and profit growth of 46.75%. We have built a very elite customer list that includes Danaher, General Electric, Tyco Electronics, Smith Industries and about one hundred more.

In January of 2008, we launched our solar division, recruiting top flight sales reps and scientists from very large solar manufacturers. This division has already delivered revenues of $34.47 million and we now have a backlog of $54 million for solar orders for 2009. We expect to see continued triple digit growth in 2008-2010 and beyond. My vision is to build a $1 billion company within 5-7 years. I believe we will reach approximately $100 million in revenue in fiscal 2009, from a projected $45 million in fiscal 2008. We will report our year-end results in the next few weeks.

On March 4th, 2009 we announced that we filed eight patents on our solar technology. We believe that we have developed a better, more efficient, more structurally sound solar module than our competitors, thus providing us with a strong competitive advantage.

Some investors may ask how the world- wide recession will affect our growth in 2009. As I stated earlier, we currently have $54 million in solar orders for 2009 and believe that we will continue to receive new orders from our existing and new customers.

In July of 2008, we completed our first financing of $5 million at $4.50 per share. This was a straight equity deal with warrants priced at $7.00 and $9.00. This money was used to build our own solar factory in Ningbo, China, along with the acquisition of Detron, a power supply company located in Shanghai, China, that has research and development capabilities. The solar factory has the capacity of 80MW, which translates into approximately $224 million in revenue at full capacity. We expect to have higher gross and net margins in our solar division now that we have our own factory along with continued improvement in quality and development of our solar modules.

We continue to explore opportunities as well as expand our solar sales and distribution in the USA and Latin America. We currently sell our products in Europe and South Korea. Our research shows that the USA has an abundance of solar rebate programs for both the commercial and residential markets at the local, state and federal level. We are well-positioned to sell our solar modules to large institutions in the U.S. Our current projections of $100 million in revenue do not actually include any sales forecasts in the U.S.

Despite the difficult economic environment, I remain confident that our company will continue to grow and prosper. My vision remains clear regarding the opportunities that exist and the ones that will develop in the United States this year, and perhaps in years to come. I appreciate the loyal support I have received from many of Worldwide’s shareholders, and will continue to do everything possible to be worthy of this loyalty.

Sincerely,

Jimmy Wang
CEO, Worldwide Energy and Manufacturing USA, Inc.

Worldwide Energy and Manufacturing USA, Inc. (WEMU.OB) Applies for Chinese Patents Designed to Improve Solar Panel Technology

March 4, 2009

Worldwide Energy and Manufacturing USA, Inc. (OTCBB: WEMU) announced that it has filed applications for eight Chinese patents in solar module technology that aim to improve voltage receiving capacity and the production process as well as increase power output and enhance design.

CEO Jimmy Wang commented, “We are extremely proud of the technologies developed around these patents applications. Our technology provides us with a number of competitive advantages, including more efficient and longer-lasting modules, which saves the end-user both time and money in the long-term. We also believe that our phenomenal growth over the last 12 months in our solar division is partly a result of going to market with superior solar module products.”

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Worldwide Energy and Manufacturing USA, Inc. (WEMU.OB) Pursues NASDAQ Status

January 28, 2009

Worldwide Energy and Manufacturing USA, Inc., a U.S.-based China manufacturer focused on manufacturing and distributing solar modules in the commercial sector, this morning announced that it has applied to have its common stock listed on the NASDAQ Capital Market.

CEO Jimmy Wang commented, “We have worked very hard over the last four years to put our company in a position to qualify for a NASDAQ listing. Our contract manufacturing division and our solar division are experiencing double- and triple-digit earnings and revenue growth, respectively. We have spent considerable time meeting with officials at the NASDAQ over the last 12 months, and we strongly believe this is the right time to take this significant step and apply for a listing on the NASDAQ.”

He added, “We also believe that a listing on NASDAQ will make it less difficult for retail brokers to build long-term positions in our stock and thus will contribute to producing more liquidity in the stock.”

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Worldwide Energy and Manufacturing USA, Inc. (WEMU.OB) Announces Record Revenue and Net Income for the Third Quarter 2008

November 20, 2008

Worldwide Energy and Manufacturing USA, Inc. (WEMU.OB), a 15-year-old engineering-oriented firm specializing in PV panel, mechanical, electronics and fiber optic products manufacturing, recently announced record revenue and net income for the third quarter ended September 30, 2008. Total revenue for the third quarter climbed 546 percent to $19.1 million and quarterly net income increased 327 percent to $541,000.

Net sales for the third quarter reached $19.1 million, an increase of $16.1 million or 546 percent, compared to $3.0 million for the corresponding period one-year earlier. The company attributes the sharp revenue gain to a significant increase in orders in the energy division of approximately $15.8 million for solar modules and an increase in the die cast factory due to a lucrative order from Shanghai GM, one of the largest vehicle manufacturers in China.

The chief executive officer of Worldwide Energy and Manufacturing USA, Mr. Jimmy Wang, recently stated, “We are very pleased to announce the best third quarter in the company’s history. Our Energy division is performing well and with increased capacity and new solar contracts, we expect to experience strong financial growth for the remainder of 2008 and beyond. We are pleased that our new solar factory is ready to open, which will help to increase our gross margins for the energy division and the company as a whole.”

He concluded, “Our strong financial performance clearly demonstrates that the company has successfully made the transition into the renewable energy market. The remainder of 2008 is on track for explosive growth with records for both revenue and profitability.”

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Worldwide Energy and Manufacturing Inc. (WEMU.OB) Announces $8.1 Million in New Solar Module Contracts

September 24, 2008

Worldwide Energy and Manufacturing USA Inc. (WEMU.OB) is an engineering-oriented firm specializing in PV panel, mechanical, electronics, and fiber optic products manufacturing. The company’s worldwide customer base includes the following industries: solar energy, wireless communications, aerospace, medical equipment, and automobiles.

Worldwide Energy announced on September 23, 2008 that its solar division, AmeriSolar, has signed $8.1 million in two new solar module contracts. The first contract for $4 million came from a new customer and the second contract for $4.1 million came from an existing customer. To date, AmeriSolar has signed approximately $30 million in new contracts, the majority of which are expected to be recorded in 2008.

The company’s long-term objective is to become a leading player in the solar module industry. Worldwide Energy CEO Jimmy Wang stated: “Our solar divison continues to obtain new module contracts and we are very encouraged by the strong growth. We have already surpassed our projected revenues for the solar division for 2008. We will continue to expand our market share in the solar sector as we become one of the fastest growing companies in the clean-tech industry.”

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RedChip Featured Company: Worldwide Energy and Manufacturing USA Inc. (WEMU.OB)

September 5, 2008

Worldwide Energy and Manufacturing USA Inc. is an engineering and quality control firm specializing in manufacturing products for customers in the solar energy, aerospace, wireless telecommunications, medical equipment, and automotive industries. Worldwide has established relationships with factories in China and arranges for the manufacture of components and goods for its customers.

Worldwide primarily works with a select group of factories located around Shanghai, China. To ensure that the products meet international standards, all of the active subcontractors have earned the International Standard Organization-9000 certification. The certification is issued to a factory after its management has received the required training. Because of its strong business relationships with manufacturers in China, Worldwide is able to significantly reduce its customers’ manufacturing costs while maintaining a high level of quality. In some instances, Worldwide has been able to negotiate a savings of up to 50%.

Worldwide currently manufactures components and products for over 100 companies in the United States. The company has a staff of engineers at a subsidiary in Shanghai that supervise all aspects of the manufacturing process. The Worldwide engineers provide technical advice, write the production and inspection procedures, conduct material audits and quality control services, and perform in-progress and final inspections.

Worldwide is able to provide sales, management, production control, and technical support, while its subcontractors concentrate on plant, equipment, manufacturing working capital and factory labor. This business model allows Worldwide to concentrate on acquiring new business and the subcontractors to concentrate solely on manufacturing products. As Worldwide prospers with an expanding customer base, the subcontracts are able to expand and prosper as well.

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