Yingli Green Energy Holding Company Limited (NYSE: YGE) ("Yingli Green Energy" or the "Company"), a leading 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-dumping tariff decision by the Department of Commerce regarding the import of Chinese PV cells and PV modules to the United States. According to the decision, Yingli will be part of the separate rates group, subject to a preliminary anti-dumping tariff of 31.18%. This is following the March 20th preliminary decision on anti-subsidy tariffs, where Yingli was given a negligible amount of 3.61%.
"We felt validated after the Department of Commerce's preliminary CVD decision in March, which determined that we are not being substantially subsidized as the petitioners claim. Today's preliminary anti-dumping tariff recommendation was not unexpected given the historical tariff levels in these types of cases. We will continue to aggressively defend ourselves and remain optimistic that we will persevere in the final determination," said Robert Petrina, Managing Director of Yingli Green Energy Americas, Inc., the Company's operating subsidiary in the U.S. "The overwhelming majority of the U.S. solar industry supports access to affordable solar energy and fair market trade. We are grateful to the tens of thousands of U.S. solar installers, developers, manufacturers, and suppliers who stand behind us today."
The Department of Commerce's recent rulings are preliminary findings. No final tariff decisions will be made until both the Department of Commerce and the International Trade Commission complete their investigations, which are scheduled to occur before the end of 2012.
"As we've stated before, tariffs are disruptive and destructive for the entire solar industry," said Mr. Liangsheng Miao, Chairman and Chief Executive Officer of Yingli Green Energy. "We remain fully committed to serving the U.S. market irrespective of the outcome of these proceedings, and we will continue to strive for a global, competitive marketplace."