NEW YORK, NY--(Marketwire -09/05/12)- China's economy has experienced a major slowdown in 2012. The world's second largest economy in the April-June quarter expanded at a rate of 7.6 percent, the slowest rate of growth in 6 quarters. The Paragon Report examines investing opportunities in the Chinese Solar Industry and provides equity research on Yingli Green Energy Hold. Co. Ltd. (YGE) and Suntech Power Holdings Co., Ltd. (STP).
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Chinese solar stocks have struggled in 2012 as numerous complaints from the U.S. and Europe have led to anti-dumping duties, ranging from 31 percent to 250 percent, on Chinese solar manufacturers. Yingli Green Energy Holding and Suntech Power Holdings fell sharply last week after slashing shipment forecasts for the year.
"Solar manufacturers worldwide are operating with production capacity that exceeds demand by at least two to one," Pavel Molchanov, a Raymond James & Associates analyst, said in a recent interview. "It's very hard for these companies to remain profitable under those conditions."
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Yingli Green Energy is a leading solar energy company and one of the world's largest vertically integrated photovoltaic manufacturers. The company revised its PV module shipment target to be in the estimated range of 2,100 MW to 2,200 MW for fiscal year 2012, which represents an increase of 30.9% to 37.2% year over year, compared to its previously provided guidance of a more than 50% increase in shipments year over year.
Suntech Power produces industry-leading solar products for residential, commercial, industrial, and utility applications. Suntech now expects 2012 annual PV shipments to be in the range of 1.8GW to 2.0GW, compared to previous guidance of 2.1GW to 2.5GW. Shares of the company have fallen over 60 percent this year.
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