Photovoltaic Trade Battle Upgrading Photovoltaic Enterprises Joining Forces

Global photovoltaic trade war is about to upgrade. Yingli Green Energy confirmed yesterday that Solarworld of Germany requested anti-dumping investigations on China's exports of photovoltaic products to the EU. The photovoltaic power generation promotion alliance formed by Yingli and other companies such as Trina Solar, Suntech, and Atos Solar Power represents the Chinese PV industry and strongly urges the EU to seriously consider anti-dumping investigations against China PV. Advocate and support open markets, free trade and fair competition, and oppose any form of trade protection.

In addition, the worsening of the PV industry is that 80% of PV listed companies are expected to see declines in their performance in the first half of the year, high inventory levels, and a sharp drop in operating cash flow. The industry is facing a risk of tight or even fractured capital chains.

Sixty percent of products exported to the European Union

Yesterday, the “Photovoltaic Power Generation Alliance” formed by Yingli, Suntech, Tianhe, and Ates, and other photovoltaic companies held a press conference to address anti-dumping investigations in Beijing. On behalf of the Chinese PV industry, it strongly urged the EU to seriously consider anti-dumping investigations initiated by China PV. “In the process of developing the photovoltaic industry, each country belongs to the interest community.” Wang Yichao, chief strategy officer of Yingli Green Energy Holding Co., Ltd. said.

Taking the countries of the European Union as an example, in 2011, the total value of exported photovoltaic equipment and raw materials to China reached 7.5 billion U.S. dollars. In terms of photovoltaic trade in recent years, the EU is basically in a surplus. From the perspective of the entire value chain of the photovoltaic industry, China, with its advantages in scale and manufacturing, mostly concentrates on the components. China only accounts for 8%-10% of the entire PV value chain.

"China's PV industry does not have any so-called illegal subsidies and dumping problems." Wang Yi-pao stressed that China's photovoltaic products are widely recognized and favored by consumers all over the world, mainly because of their higher cost-effectiveness and better product quality. And more comprehensive after-sales service. Full compliance with the basic principles of fair market competition is also an important symbol of the continuous maturation of China's photovoltaic companies.

He said that prior to this, in response to the US's "anti-dumping" and "anti-subsidy" investigations, Chinese PV companies have provided a lot of factual basis to the government to prove that China's PV does not have any so-called illegal subsidies and dumping. In addition, numerous US companies, European companies, and the International Photovoltaic Industry Alliance have consistently confirmed and believed that Solarworld's unjustified lawsuits against Chinese PV companies for their own commercial interests are unfounded.

China and the European Union are the second and third largest economies in the world, and at the same time they are each other's largest trading partners. If the European Union follows the United States and initiates an anti-dumping investigation against China's photovoltaic industry, the Chinese photovoltaic industry will suffer a fatal blow.

In 2011, China exported nearly 35.8 billion U.S. dollars of photovoltaic products, and nearly 60% went to the European Union. Taking the products manufactured by Suntech as an example, a large part of the raw materials and equipment used in the production of components comes from Europe. In 2010 and 2011, the total amount of equipment and raw materials purchased by the company from Europe was as high as 600 million euros. .

Photovoltaic Winter

The profit-taking of capital and the policy blowout have led to overcapacity of photovoltaics after “big work”. With pay cuts, layoffs and indebtedness, the giants involved are suffering.

Taking LDK Solar High-tech Co., Ltd. as an example, according to the 2011 annual report of LDK, the net loss attributable to shareholders of the company reached US$185.2 million. Another giant Wuxi Suntech Power Co., Ltd. also lost more than US$100 million in the first quarter.

In fact, LDK is only a microcosm of PV companies' deep traps in the capital chain. Statistics show that 80% PV listed companies are expected to decline in the first half of this year due to weak demand and plunging prices. The high inventory levels and sharp drop in operating cash flow, coupled with the waning of investment funds and banks' enthusiasm for photovoltaics, the industry is facing the risk of tight or even broken capital chain.

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