EANS-News: Extensive restructuring and realignment of the Sunways Group

--------------------------------------------------------------------------------
Corporate news transmitted by euro adhoc. The issuer/originator is solely
responsible for the content of this announcement.
--------------------------------------------------------------------------------

Subtitle: - Reduction of standard solar cell production capacities
and increased focus on specialist solar cells (BIPV, automotive) -
Adjustment of business model in the area of solar modules and
inverters - Consistent utilization of synergies with LDK Solar

Company Information/Layoffs & Downsizing/Restructuring &
Recapitalisations

Konstanz (euro adhoc) - 14 December 2012 - The market environment for
the German solar manufacturing industry changed drastically in the
past few years. Market prices for photovoltaic components decline
continuously. Against this background and in view of Sunways AG's
(SWW:GR, SWWG.DE, ISIN DE0007332207) difficult economic situation,
the Management Board, with the consent of the Supervisory Board,
passed a resolution on the Group's extensive restructuring and
realignment. The business model with respect to solar modules and
inverters will be adapted. Standard solar cell production capacities
at Sunways Production GmbH will be reduced, simultaneously activities
will concentrate on specialist solar cells for the automotive sector
and building-integrated photovoltaics (BIPV). The utilization of
synergies with the LDK Solar Group, the company's majority
shareholder, will be consistently expanded. The envisaged changes
will inevitably involve staff reductions across all functional areas
and locations of the Group. The resulting total cost reductions will
have a positive effect on the earnings development of Sunways and
thus support the company's funding efforts.

"The business model of Sunways will be supplemented by 'increased
services - reduced production activities' and 'intensified
application development - reduced basic research'. Thus the Sunways
brand will continue to stand for leading technology and innovation
and our position as a provider of innovative products and
customer-oriented solutions will be secured", says Michael Wilhelm,
Chairman of the Management Board of photovoltaics specialist Sunways,
in view of the company's announced realignment and restructuring. "We
will continue to strengthen our distribution activities and intensify
our international sales efforts. The initiated close consultation
with LDK Solar will enable us to push forward the necessary market
entries for the Sunways brand. In addition, the expanded business
model will give us the chance to develop new customer segments and
cooperation opportunities".

Numerous manufacturers worldwide are currently subject to economic
strains and do not generate profits. The market prices for solar
products and thus the net earnings margins generated by companies
declined drastically in the past two years - e.g. the prices for
solar modules dropped by more than 50 percent, the prices for solar
cells by up to 60 percent. On the market side, this was mainly due to
global excess capacities but also to uncertain political framework
conditions with respect to renewable energies that are changing at
ever decreasing intervals in many countries.

The Sunways Group's economic situation increasingly deteriorated in
the past quarters. Due to continuous losses, the reported equity
capital was reduced drastically. In view of continuously declining
prices, which cannot be offset on the cost of materials side, the
current situation is not expected to improve in the short term. "We
need to make money again", Michael Wilhelm summarizes the situation.
"Our employees are aware of this and everybody knows that there is a
long and hard road ahead of us. But I also know that our management,
employees and works councils are convinced that we will jointly lead
Sunways back to the road to success."

In the context of a capital increase, the LDK Solar Group acquired a
stake in Sunways AG as a strategic investor at the end of last year.
"We have a majority shareholder that clearly supports Sunways and has
proved this again and again over the past months", emphasizes Michael
Wilhelm. This important commitment as well as the active cooperation
in the distribution area and assistance with respect to the
initiation of potential other strategic partnerships are of
fundamental importance to the successful restructuring of Sunways.

The Management Board's resolution on an extensive realignment of the
Sunways Group comprises the following elements:

Until further notice, no solar cells for standard modules are to be
produced at Sunways Production GmbH in Arnstadt; production
activities will be limited to solar cells for specialist
applications, such as e.g. building-integrated photovoltaics. The
corresponding reduction of production capacities will involve an
adjustment of the number of staff, also in supporting functions. At
the same time, Sunways Production GmbH is to take on the function of
production and service center for Sunways solar inverters and of
service provider for solar modules. The Arnstadt workforce of
currently 120 is expected to be reduced by about 50 percent.

In the inverter production segment, Sunways will in the future focus
on market and customer specific product adaptations ("customizing);
the in-house development and production of devices will become less
important while the development of holistic solutions (energy
storage, energy management) will continue. Furthermore, the
cooperation of the Sunways Group's corporate and distribution
divisions with its partner LDK Solar is to be intensified in the
future, thus creating additional synergies for both sides. In this
context and to accommodate the current environment, the Management
Board decided to also reduce the number of staff at Sunways AG.

From today's point of view, the total number of jobs within the
Sunways Group of 265 may be reduced by about 40 percent. In view of
the envisaged measures, the Management Board will immediately enter
into talks with the works councils at the Konstanz and Arnstadt
plants.

This press release and pictures are available on
http://www.sunways.eu/en and
http://www.presseportal.de/pm/57666/sunways-ag.

Forward-looking statements This press release contains statements
relating to the future business development of Sunways AG that are
based on management assumptions and estimates made at the time of
publication. Should the assumptions underlying the prognoses fail to
be fulfilled, actual events may vary substantially from
forward-looking statements. Uncertainties include changes in the
political, legal, economic and business environment, exchange and
interest rate fluctuations as well as the behaviour of competitors
and other market participants. Sunways does not intend and is not
under any obligation to update forward-looking statements on an
ongoing basis as these are exclusively based on the circumstances
prevailing as of the date of publication.

About Sunways Sunways AG, Konstanz/Germany, stands for consistent use
of solar energy to secure long-term energy supply of man in an
efficient and sustainable manner. Sunways offers technological
competence, performance and highest quality - from single components
to complete solar systems. Since its foundation in 1993, Sunways AG
evolved into a technology leader in the photovoltaics industry
serving international markets. With silicon-based solar cells,
inverters, solar modules and solar systems, the company offers all
components required for high-yield photovoltaic power generation.
With photovoltaic solutions tailored to customers' needs (transparent
and coloured solar cells, building- integrated photovoltaic
installations), Sunways turns exceptional ideas into reality. Sunways
Production GmbH in Arnstadt/Germany is a subsidiary of Sunways AG; in
addition, the group has own branch offices in Barcelone/Spain and
Bologna/Italy. In 2011, Sunways AG with about 330 employees realised
sales of around EUR 115 million. The shares of Sunways AG are listed
at the Frankfurt Stock Exchange (SWW:GR, SWWG.DE, ISIN DE0007332207).
LDK Solar Group, one of the ten largest photovoltaics companies in
the world in terms of sales revenues, holds a majority stake in
Sunways since 2012. For further information, please visit
http://www.sunways.eu/en.

About LDK Solar LDK Solar Co., Ltd. (NYSE: LDK) is a leading
vertically integrated manufacturer of photovoltaic products. LDK
Solar manufactures e.g. polysilicon, mono and multicrystalline
wafers, solar cells, and solar modules. LDK Solar's headquarters and
principal manufacturing facilities are located in Hi-Tech Industrial
Park, Xinyu City, Jiangxi Province in the People's Republic of China.
For more information about LDK Solar and its products, please visit
http://www.ldksolar.com.

Further inquiry note:
Dr. Harald F. Schäfer
Head Corporate Communications and Investor Relations
Tel.: +49 (0)7531 996 77-415
E-Mail: communications@sunways.de

end of announcement euro adhoc
--------------------------------------------------------------------------------

company: Sunways AG
Macairestr. 3 - 5
D-78467 Konstanz
phone: +49 (0)7531 99677 0
FAX: +49 (0)7531 99677 10
mail: info@sunways.de
WWW: http://www.sunways.eu/de
sector: Alternative energy
ISIN: DE0007332207
indexes: CDAX, Technology All Share, General All Share
stockmarkets: free trade: Berlin, München, Hamburg, Düsseldorf, Stuttgart,
regulated dealing/general standard: Frankfurt
language: English