BAODING, China | YINGLI —
Yingli Subject to Lowest Tariff Rate among its Peers
Yingli commented on the final results of the first administrative reviews of the antidumping duty (“AD”) and countervailing duty (“CVD”) orders issued by the U.S. Department of Commerce regarding the import of solar PV panels assembled in China using components from China.
According to today’s results, Yingli’s manufacturing affiliates will receive the lowest combined tariff rate of its peers, amounting to 21.73%. This is lower than Yingli’s original combined AD/CVD rate of 29.18% from 2012.
“While we are disappointed in the U.S. Department of Commerce’s decision to continue placing tariffs on an industry that is the second fastest-growing energy industry in the U.S, we are now very securely positioned to succeed in the U.S. market. So long as these tariffs are in place, we will continue our vigorous defense and fight for solar power’s cost-competiveness,” commented Mr. Robert Petrina, Managing Director of Yingli Green Energy Americas.
“It’s unfortunate that while today’s decision is encouraging for Yingli, the entire American solar industry is impacted. Hundreds of thousands of American homeowners, businesses and utilities benefit from highly competitive solar solutions, which are now at risk,” commented Mr. Liansheng Miao, Chairman and Chief Executive Officer of Yingli Green Energy.
About Yingli Green Energy
Yingli Green Energy Holding Company Limited (NYSE: YGE), known as “Yingli Solar,” is one of the world’s leading solar panel manufacturers. Yingli Green Energy’s manufacturing covers the photovoltaic value chain from ingot casting and wafering through solar cell production and solar panel assembly. Headquartered in Baoding, China, Yingli Green Energy has more than 30 regional subsidiaries and branch offices and has distributed more than 13 GW solar panels to customers worldwide.