Yingli Green Energy Comments on Final International Trade Commission Rulings
for Imported Chinese Solar Cells and Modules
Decision Marks Closure of U.S. Solar Tariff Trade Case
BAODING, China, Nov. 7, 2012
BAODING, China, Nov. 7, 2012 /PRNewswire-FirstCall/ --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 final rulings by the
International Trade Commission regarding the import of Chinese PV cells and
modules to the United States. Today's decision resulted in two rulings: the
first found that the U.S. market has been "injured" due to the presence of
imported Chinese cells and modules in the industry, and the second found that
there are no applicable "critical circumstances." As a result of the negative
finding, Yingli Green Energy will not be held liable for the $13.7 million USD
provision of duties that it has held on its balance sheet. In addition, solar
modules assembled in China containing solar cells originating from a third
country continue to be tariff-free.
"The threshold for determining injury to the U.S. market is incredibly low,
and takes into account several factors, including policy changes, loss of
jobs, sales results, et cetera. If only one of those factors is the presence
of Chinese imports, then the ITC will make an affirmative injury
determination, as it did today," said Robert Petrina, Managing Director of
Yingli Green Energy Americas. "We are relieved that this ruling marks the end
of the U.S. trade investigations, and that we will be able to completely focus
on serving our hard-working customers. This industry has grown tremendously
over the past year, despite SolarWorld's accusations, and we are grateful to
the overwhelming majority of the market that has united behind us and
supported affordable, clean energy.
"Although today's decision was partially favorable for Yingli, we are saddened
to see the global ramifications of this case. We are in the midst of a global
trade war now, and Europe will be defending itself vigorously in the footsteps
of the U.S. decision," said Mr. Liangsheng Miao, Chairman and Chief Executive
Officer of Yingli Green Energy. "We will always be appreciative to the U.S.
solar industry that stood with us, and the other respondents. We remain
hopeful that global free trade will prevail, and that affordable solar energy
will soon be accessible to all."
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. In August 2012, Yingli Green
Energy reached a balanced vertically integrated production capacity of 2,450
MW per year, from facilities located in Baoding, Haikou, Tianjin and Hengshui,
respectively. Yingli Green Energy distributes its photovoltaic modules to a
wide range of markets, including Germany, Spain, Italy, Greece, France, South
Korea, China, Japan and the United States. Headquartered in Baoding, China,
Yingli Green Energy has 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.
YINGLI GREEN ENERGY CONTACTS:
Director of Investor Relations
Yingli Green Energy Holding Company Limited
Tel: +86 312 8929787
In the Americas:
Head of Marketing
Yingli Green Energy Americas, Inc.
Tel: +1 603 5915812
Marketing Communications Manager
Yingli Green Energy Europe GmbH
Tel: +49 89 540303412
SOURCE Yingli Green Energy Holding Company Limited
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