Reuters: Regulatory News: UPDATE 2-Yingli, JA Solar cut outlook as anti-dumping row weighs

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UPDATE 2-Yingli, JA Solar cut outlook as anti-dumping row weighs Aug 29th 2012, 11:59 Wed Aug 29, 2012 7:59am EDT * Yingli second-quarter loss/ADS $0.58 vs est. $0.33 * JA Solar second-quarter adj loss/ADS $0.22 vs est. $0.14 * Yingli sees FY module shipment growth at 37.2 pct * JA Solar cuts FY shipment outlook to 1.5-1.8 GW from 1.8-2.0 GW By Swetha Gopinath and Thyagaraju Adinarayan Aug 28 (Reuters) - China-based solar equipment makers Yingli Green Energy Holding Co and JA Solar Holdings Co Ltd cut their full-year shipment outlook as they face accusations from the United States and Europe that they dumped cheap products. Steep declines in the price of solar cells and panels since early 2011 has eroded margins across the industry. Chinese solar companies are also being investigated in the United States and Europe for flooding the markets with low-cost solar panels. The United States earlier this year set tariffs on shipments from most top Chinese exporters, including Yingli and JA Solar, at about 31 percent. The companies may face similar actions from regulators in Europe. The anticipated investigations have brought more pressure and uncertainties to the solar industry, said Yingli Chief Executive Liansheng Miao. China's top solar companies have warned that any punitive action against Chinese cells and modules in Europe would hurt the industry as a whole, suggesting such a move would intensify the current trade war and keep the industry from lowering costs. Yingli said it expects full-year module shipments to grow by up to 37.2 percent, down from its earlier forecast of a more-than 50 percent growth. JA Solar also slashed its total cell and module shipments for the year. The warnings on shipments come a week after Trina Solar Ltd cut its full-year forecast for solar panel shipments. JA Solar's second-quarter net loss doubled. Adjusted loss of 22 cents per American Depositary Share (ADS) was bigger than analysts' average estimate of 14 cents per ADS, according to Thomson Reuters I/B/E/S. Yingli reported is fourth straight quarterly loss of 58 cents per ADS, much larger than the 33 cents loss analysts expected. JA Solar's stock closed at $1.07 on the Nasdaq on Tuesday. Yingli shares closed at $1.95 on the New York Stock Exchange. Shares of JA Solar have fallen 20 percent this year, while those of Yingli have slumped nearly 50 percent. The wider WilderHill Clean Energy index has lost about 15 percent this year. Link this Share this Digg this Email Reprints

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