Updated analysis on TubeSolar.

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TubeSolar new

Dear Sir and Madam,

on Tuesday we had given you an update on TubeSolar's corporate history and announced that Dr. Karsten von Blumenthal, analyst at First Berlin Equity Research, would revise his assessment of the stock in the coming days.

This has now been done. With Mr. von Blumenthal's permission, we are happy to provide you with the analysis.

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