SOURCE: Five Star Equities

Five Star Equities

October 15, 2012 08:20 ET

U.S. Commerce Department Upholds Anti-Dumping Tariffs on Chinese Solar Products

Five Star Equities Provides Stock Research on Yingli Green Energy and Suntech Power

NEW YORK, NY--(Marketwire - Oct 15, 2012) - Chinese solar stocks have struggled in 2012 as numerous allegations that companies were "dumping" products at a loss have led to anti-dumping duties on solar cells imported from China. The tariffs, which were upheld by the U.S. Commerce Department last week, range from 18.32 percent to 249.96 percent. Five Star Equities examines the outlook for companies in the Chinese Solar Industry and provides equity research on Yingli Green Energy Hold. Co. Ltd. (NYSE: YGE) and Suntech Power Holdings Co., Ltd. (NYSE: STP).

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China has demanded that the U.S. repeal the steep anti-dumping measure as they fear it will price out Chinese producers from the American market. The tariffs add another burden to Chinese manufacturers who are already struggling with major losses as a result of slowing demand and falling prices.

"The United States is inciting trade friction in new energy and sending a negative signal to the whole world about protectionism and obstructing the development of new energy development," Ministry of Commerce spokesman Shen Danyang said in a statement. "We hope the U.S. side will correct its erroneous action with early termination of the trade remedy measures," Shen added.

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A spokesman for Yingli Green Energy Holding Co. has already said that the tariffs of roughly 30 percent on the company would make it unprofitable to sell in the U.S., as the gross profit margins for the industry are around 10 percent.

"A tax rate of 30 percent is the same as 200 percent. Both of them mean the door is closed for exporting to the United States," said the spokesman, Wang Shuai. "No one does business to lose money."

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