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”, today 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.”
About Yingli Green Energy
Yingli Green Energy Holding Company Limited (NYSE: YGE), which markets its products under the brand “Yingli Solar,” is a leading solar energy company and one of the world’s largest vertically integrated photovoltaic manufacturers. Yingli Green Energy’s manufacturing covers the entire photovoltaic value chain, from the production of polysilicon through ingot casting and wafering, to solar cell production and module assembly. Currently, Yingli Green Energy maintains a balanced vertically integrated production capacity of 1,700 MW per year. Capacity expansion projects of an additional 750 MW in total are under construction in Haikou, Tianjin, Hengshui and Baoding, which are expected to start initial production in 2012 and will increase the Company’s total nameplate production capacity to 2,450 MW by the end of 2012. Yingli Green Energy distributes its photovoltaic modules to a wide range of markets, including Germany, Spain, Italy, Greece, France, South Korea, China and the United States. Headquartered in Baoding, China, Yingli Green Energy has more than 14,000 employees and more than 20 subsidiaries and branch offices worldwide. Yingli Green Energy is publicly listed on the New York Stock Exchange (NYSE: YGE). For more information, please visit www.yinglisolar.com.