NEW YORK, NY -- (Marketwire) -- 05/29/12 -- Chinese solar stocks have slumped recently as the U.S. has announced anti-dumping tariffs of more than 31 percent on solar panels from China. The Commerce Department stated that last year the U.S. purchased $3.1 billion of Chinese solar cells. The total represents more than half of the American market. The Paragon Report examines investing opportunities in the Solar Industry and provides equity research on JA Solar Holdings Co., Ltd. (NASDAQ: JASO) and Yingli Green Energy Hold. Co. Ltd. (NYSE: YGE).
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The tariffs, which are retroactive 90 days, are on top of anti-subsidy tariffs of 2.9 to 4.73 percent imposed in March. According to research by Paula Mints, analyst at Navigant Consulting, last year Chinese manufacturers shipped roughly 50 percent of the world's solar panels, whereas U.S. manufacturers shipped only 3 percent. The 31 percent tariff was calculated by the Commerce Department by estimating the cost for Chinese manufacturers, and then calculating how far below cost were manufacturers selling the solar panels for in the U.S.
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JA Solar is a leading manufacturer of high-performance solar power products. The company sells its products to solar manufacturers worldwide, who assemble and integrate solar cells into modules and systems that convert sunlight into electricity for residential, commercial, and utility-scale power generation. The Company is scheduled to release its first quarter 2012 results before the market opens on Tuesday, June 5, 2012.
Yingli Green Energy, 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. "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, in response to the anti-dumping tariffs. "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."
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