EX-12.1 5 dex121.htm STATEMENT REGARDING THE COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Statement regarding the computation of ratio of earnings to fixed charges

Exhibit 12.1

 

     China Sunergy Co., Ltd.
Ratio of Earnings to Fixed Charges
Year Ended December 31,		  
     2004     2005     2006    2007  

Computation of Earnings:

          

Income before taxes and minority interests

    $ (959,073 )   $ (386,751 )     11,743,708      (5,560,154 )

Minority interest in pre-tax

      —         —         —        —    

Interest capitalized

      —         (415,786 )     —        —    

Amortization of capitalized interest

      —         10,110       30,329      30,329  

Fixed charges

      5,998       1,036,695       3,024,721      7,478,822  
                               

Earnings

    $ (953,075 )   $ 244,268     $ 14,798,758    $ 1,948,997  
                               

Computation of Fixed Charges:

          

Interest expense

    $ 5,998     $ 1,036,185     $ 3,002,054    $ 7,394,229  

Interest portion of operating lease expense

      —         510       22,667      84,593  
                               

Fixed charges

    $ 5,998     $ 1,036,695       3,024,721    $ 7,478,822  
                               

Ratio of Earnings to Fixed charges

      —         —         4.89      —    
                               

Deficiency

      959,073       792,427       —        5,529,825