* Yingli sees FY module shipment growth at 37.2 pct
* JA Solar cuts FY shipment outlook
* Yingli says to aggressively defend itself in EU
* JA Solar shares fall 11 pct, Yingli down 4 pct
* First Solar down 7 pct
By Swetha Gopinath and Thyagaraju Adinarayan
Aug 28 Chinese solar panel makers Yingli Green
Energy Holding Co and JA Solar Holdings Co Ltd
cut their shipment forecasts on fears that Europe will soon
impose anti-dumping tariffs, following similar action from the
U.S. government earlier this year.
Shares of both companies fell dragging down other stocks in
the sector, which has been battling a near two-year slump in
prices that eroded margins and forced some companies to shut
The United States earlier this year set tariffs on shipments
for most top Chinese exporters, including Yingli and JA Solar,
at about 31 percent.
The companies may face similar actions from regulators in
Europe, their largest market, after a group of solar companies
led by Germany's SolarWorld filed an anti-dumping
complaint with the European Commission in July.
"We are well prepared to aggressively defend ourselves if
the Commission decides to initiate an investigation," Darren
Thompson, managing director of Yingli Europe, said on a
post-earnings conference call.
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 and keep companies from lowering costs.
"European import tariffs could in theory have a much more
substantial effect than Washington's policy, but of course it
will depend on how steep the European tariffs are," Raymond
James Pavel Molchanov wrote in an e-mail to Reuters.
Europe is more important for global demand than the United
States, with about half of global solar installations coming
from the continent in 2012, Molchanov noted.
Chinese producers have gained from the boom in installation
of solar panels in Europe over the last two years as the
European Union targets to increase the share of renewable
energy, such as solar and wind, to 20 percent.
JA Solar's stock fell 11 percent to 95 cents on Wednesday,
while Yingli shares dipped about 4 percent.
Rival First Solar Inc's shares fell 7 percent and
Trina Solar Ltd was down 3 percent. The broader MAC
Global Energy Index was down 2 percent.
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
Shares of JA Solar have fallen 20 percent this year, while
those of Yingli have slumped nearly 50 percent.