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 |