The Citigroup of China? LDK Solar Now Owned by Chinese Government

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LDK (NYSE: LDK), based in China, is one of the world’s largest producers of solar wafers, as well as a manufacturer of high-purity polysilicon. But, the solar industry is painfully oversupplied, and most if not all solar firms are losing money.* LDK had an operating loss of $172 million in the second quarter and three straight quarters of losses before that. Because it is a major employer in the poor province of Xinyu, the local government...

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