又有人质疑本人的言论，本人来个更大胆的预测；GT多晶硅还原炉业务即将完败给上海森松（中日合资）；多晶铸锭炉死在中国国内竞争厂商手里；蓝宝石炉业务不是死在我的手里；呵呵，只有剩下CCz技术；CCz不是什么新技术，连续提拉法，后续我就给大家分析分析...................

                                  爆炸性的公告

有关GT公司CEO的致辞，原文中有中文译文，请直接参考其中文译文中有关收购CS公司及蓝宝石业务部分。

 

 

以下是节选部分的译文（附原文以方便对照）：

 

（年报正文第11页第3行始）

 

All of the components and assemblies for our ASF furnaces are manufactured by third parties

using our designs. Our manufacturing personnel focus on final assembly, integration and testing of the

ASF furnace prior to shipping the product to the customer. We also provide engineering and product

design, quality control, process engineering and engineering services related to the operation of our

ASF furnaces.

 

我们的ASF炉子的所有的部件和组件都是由第三方根据我们的设计生产的。我们的生产人员则着重于炉子的组装、总成和测试，之后再将炉子发运给客户。我们也提供与操作运行我们ASF炉子有关的工程和产品设计、质量控制、加工工艺以及工程服务。

 

……………………

 

We are in the process of commercializing our ASF furnaces and delivered the first furnaces to

customers in May 2011 and expect to deliver additional furnaces throughout the first half of the fiscal

year ending March 31, 2012. We have no experience installing and operating the ASF furnaces in

customer facilities. If the ASF furnace does not operate properly in our customers’ facilities, we will

not be able to recognize revenue from the sale of furnaces in a timely manner, or at all. In addition,

our sapphire business, and our overall business, would be materially and adversely impacted.

 

我们正在将我们的ASF 炉子商业化的过程之中。我们于2011年5月向客户交付了第一批炉子，并计划于2012年3月31日终止的财务年度中的上半年交付更多的炉子。我们在客户的工厂安装和运行ASF炉子完全没有经验。如果ASF 炉子在客户的工厂不能良好运行，我们将不能按期收到销售炉子的销售收入，甚至完全没有这方面的收入。并且，我们的蓝宝石业务，以及公司的全面业务都会受到实质性的负面影响。

 

 

（正文第39页）

 

Risks Relating to the Sapphire Business

蓝宝石业务的有关风险

 

If our sapphire products do not achieve market acceptance, prospects for our sapphire business would be limited.

如果蓝宝石产品不被市场接受，公司的蓝宝石业务的前景将十分有限

 

As a result of our acquisition of Crystal Systems, a portion of our business will consist of the

manufacture and sale of sapphire materials, which are used in the LED industry and other specialty

markets. Potential customers for sapphire and sapphire-based LED materials may be reluctant to adopt

such products as an alternative to existing traditional sapphire materials or lighting technology. In

addition, our potential customers may have substantial investments and know-how related to their

existing sapphire and LED technologies, and may perceive risks relating to the complexity, reliability,

quality, usefulness and cost-effectiveness of our sapphire material products compared to other sapphire

and LED products available in the market. If acceptance of sapphire material and sapphire-based

LEDs do not increase significantly, opportunities to increase this portion of our business and revenues

would be limited. Any of these factors could have an adverse impact on the growth of that portion of

our business and the recoverability of our investment in Crystal Systems. Historically, the sapphire

industry has experienced volatility in product demand and pricing. Changes in average selling prices of

the sapphire material products as a result of competitive pricing pressures, increased sales discounts

and new product introductions by competitors could have an adverse impact on our results of

operations.

 

 

收购CS公司的结果，公司的一部分业务将会是生产和销售蓝宝石材料。蓝宝石材料是应用于LED行业及其他特殊市场。使用蓝宝石和蓝宝石衬底LED材料的潜在客户可能会犹豫是否采用我们的产品去取代他们目前正在使用的传统的蓝宝石材料或照明技术。另外，我们潜在的客户可能已经在目前使用的蓝宝石材料和LED技术上投入了大量的投资，享有专有技术，他们可能会认为，与其他在市场上已有的蓝宝石和LED产品相比较，我们的蓝宝石产品有诸如复杂性、可靠性、质量、有用性、性价比等风险。如果市场对蓝宝石和蓝宝石衬底LED材料的认知没有显著地增加，我们公司的蓝宝石业务和收入增长的机会将会是有限的。以上诸多因素都会对公司的蓝宝石业务造成负面影响，并且会影响到我们收购CS公司的投资回报。从历史上看，蓝宝石工业经历了市场需求和价格的大幅波动。来自竞争者的价格压力、不断上升的促销折扣、新产品的出现等因素造成的蓝宝石的平均售价的变化都会对公司的运营造成负面影响。

 

In addition, the sapphire materials industry is characterized by rapid technological innovations,

with improvements being made using several different crystal growth processes. If we are unable to

improve our technology and equipment adequately, we will lose customers and our business would be

adversely impacted.

 

并且，蓝宝石材料工业的特征就是日新月异的技术革新，几种不同的长晶方法都在不断的改进。如果我们不能有效地改进我们的技术和设备，我们就会失去客户，我们的业务将大大受损。

 

The commercialization of our advanced crystal growth furnaces may not be successful.

我们的先进长晶炉的商业化有可能不成功

We have recently entered into contracts to supply our ASF furnaces that incorporate advanced

Heat Exchange Method, or HEM, technology. We shipped our first two ASF furnaces in May 2011 and

expect to ship more furnaces pursuant to these contracts in the near future. We have no experience

installing and operating the ASF furnace in any customer facility, and failure of these furnaces to

operate properly for any reason will prevent us from recognizing revenue, would likely result in claims

against us for the return of deposits, would harm our reputation and our results of operations. Since we

are new to this business, we may not be able to execute on our strategy to ship and install such

furnaces for various reasons, including if we are unable to obtain the necessary components from third

parties.

 

我们最近签了几份ASF炉子的销售合同。我们的炉子用的是热交换法，也叫HEM技术。我们于2011年5月交付了第一批两台ASF炉子，并计划于近期根据合同交运更多的炉子。我们并没有在客户工厂安装和运行这些ASF炉子的经验。如果由于任何原因，这些炉子不能正常运行，将会阻止我们实现销售收入，并会导致我们退还订金，从而伤害我们的声誉和经营。因为我们是新入行，我们有可能因为各种原因（包括不能从第三方获得所需的部件）无法交运和安装这些炉子。

 

In addition, we may not be able to enter into additional agreements to sell such ASF furnaces in a

timely manner, or at all. Among the factors that may delay or prevent the realization of our business

plan include: limited resources that we can utilize to manufacture such furnaces; developments by

competitors and others in the sapphire market that make the ASF furnaces inefficient or obsolete; or

power demands of these furnaces that limit broad market acceptance. We may not be able to execute

on our strategy to sell advanced sapphire furnaces for reasons within or outside of our control, and

even if we are able to sell these furnaces, we may be unable to recognize revenue on these furnaces in

a timely manner, or at all.

 

而且，我们有可能无法及时签订销售更多ASF炉子的后续合同。影响我们实现生意计划的因素是多方面的，包括：我们用于制造炉子的资源是有限的；蓝宝石市场上的竞争者或其他人有了新突破，使得我们的ASF炉子显得低效而过时；或是这些炉子对电源的要求过于苛刻而限制了市场对它的广泛接受。我们可能因为一些可控或不可控的原因而卖不动这些ASF炉子，或即使我们能够卖出一些炉子，但却不能及时地收到货款，或完全收不到款项。

 

While we believe that the ASF furnace provides advantages in sapphire growth there are other

competitors in the market that also utilize this and other processes for sapphire growing that could

compete with our technology and they may be able to more cost-effectively produce high quality, large

diameter boules. These competitors include existing sapphire growing companies and new entrants to

the industry attracted by the prospects of the LED market. In addition, other companies may also

begin to offer furnaces to sapphire growers. If any current or potential competitor develops or

purchases comparable or superior technology that enables the growing of higher quality, larger

diameter sapphire material or that offers for sale a furnace that grows sapphire material more cost

effectively than ours, our business, financial condition and results of operations could be materially

adversely affected.

 

虽然我们相信ASF炉子具备生长蓝宝石的优势，但市场上还有其他竞争者也使用这样或那样的工艺生长蓝宝石，与我们的技术竞争，他们有可能性价比更好，能生产出高质量、大直径的柱体。这些竞争者包括行业老手或被LED前景吸引而新入行的。同时，其他公司也可能开始供应蓝宝石生长炉。如果竞争者开发出了或购买了同等的甚至更好的技术，能够生产出高质量，大直径的蓝宝石材料，或者他们提供的炉子性价比更好，我们的业务、财务状况以及经营效果都会受到实质性的负面影响。

 

Crystal growth using the ASF furnace requires a consistent supply of power and any interruption in the supply of power may result in sapphire material that has reduced or no sales value.

使用ASF炉子长晶需要恒稳的电源，电源的中断将导致蓝宝石材料价值大打折扣甚至成为废品

 

The process by which we grow sapphire boules using the ASF furnace technology requires that the

furnace be supplied with a consistent supply of power during the cycle required to grow a boule. If

there are certain types of power interruptions, which we have experienced at our Salem facility, even

for a brief period of time, the sapphire boule being generated by that furnace will be of inferior quality

and we would likely be unable to sell that sapphire material to a customer. In addition, if potential

customers of our ASF furnace do not have consistent power supplies, our furnace would not gain

market acceptance because it will not create boules of the quality that may be expected by our

customers and we would likely not meet the required contractual acceptance criteria necessary to

receive the final installment payment and we further may not be able to recognize any revenue on that

ASF furnace if such acceptance criteria is not met.

 

我们使用ASF炉子生长蓝宝石晶柱的工艺需要恒穏的电源供应，在晶柱生长期间，电源如果中断，哪怕是很短的时间，（这在我们赛勒姆工厂发生过），炉子里的蓝宝石晶柱的质量将大受影响，我们很可能无法将产品出售给客户。而且，想买我们ASF炉子的潜在客户，如果他们没有恒穏的电源，我们的炉子将得不到市场的认可，因为它无法生产出满足客户质量要求的晶柱来。因此我们可能无法达到合同的验收标准，从而无法收到后续的货款。如果此类验收标准无法达到，我们可能无法收讫出售这些ASF炉子的销售收入。