Jinko Solar falls as US sets tariffs on panel imports

JinkoSolar Holding

29/11/2024 18:04

** U.S.-listed shares of Chinese-owned solar company Jinko
Solar  688223.SS   JKS.N , that operates in Malaysia, down 1.8%
to $21.17 in after-hours trade
    ** U.S. trade officials announced new round of tariffs on
solar panel imports from four Southeast Asian nations -
Malaysia, Cambodia, Vietnam and Thailand - after American
manufacturers complained that companies from the region
concerned are flooding the U.S. market with unfairly cheap goods
    ** Preliminary dumping rate for JKS at 21.31%, per
International Trade Administration; company gets a rate of
56.61% on products made in Vietnam 
    ** U.S. Commerce's weighted-average dumping margin for solar
cells from Malaysia range between 21.31% and 81.24%; the cash
deposit rate for some producers is 17.84% to 81.24% 
        ** Weighted-average dumping margin for solar cells from
Thailand range between 77.85% and 154.68%; cash deposit rate of
57.66% for some producers  
  
        ** The margin for solar cells from Vietnam range between
53.30% and 56.51%; cash deposit rate for some producers is
53.19% to 56.40% 
  
    ** Including losses, JKS down about 40% YTD as of last close

 (Reporting by Seher Dareen in Bengaluru)
 ((Seher.Dareen@thomsonreuters.com;))