Yingli Green Energy Holding Company Limited (NYSE: YGE) ("Yingli Green Energy" or the "Company"), a solar energy company and one of the world's largest vertically integrated photovoltaic ("PV") manufacturers, which markets its products under the brand "Yingli Solar", commented on the preliminary anti-subsidy tariff decision by the Department of Commerce regarding the import of Chinese PV cells and PV modules to the United States.
"We thank our loyal customers, suppliers, other valued business partners and their employees for their ongoing support as we continue to vigorously defend ourselves. As we stated in our testimony to the International Trade Commission, we are not dumping, nor do we believe that we are unfairly subsidized," said Robert Petrina, Managing Director of Yingli Green Energy Americas, Inc., the Company's operating subsidiary in the U.S. "We will continue to fight for affordable solar energy and further growth of the tens of thousands of U.S. solar jobs that we help to create. Regardless of the outcome of this proceeding, we remain dedicated to the U.S. solar market."
Today's preliminary decision on the anti-subsidy side will be followed by another preliminary decision for anti-dumping, scheduled for May 16th, 2012. No final tariff decisions will be made until the International Trade Commission completes its investigation as well, which is scheduled to occur before the end of 2012.
"The important thing to remember is that tariffs are bad for the entire solar industry," said Mr. Liansheng Miao, Chairman and Chief Executive Officer of Yingli Green Energy. "We will continue to support the U.S. as an important solar market, and believe that global trade and fair competition will persevere. Today's decision validates that."