BAODING, China, Sept. 1, 2017 /PRNewswire/ -- Yingli Green Energy
Holding Company Limited (NYSE: YGE) ("Yingli Green Energy" or the
"Company"), one of the world's leading solar panel manufacturers,
today announced that one of the holders (the "Note Holder") of the
medium-term notes due May 12, 2016
(the "2011 MTNs") and medium-term notes due October 13, 2015 (the "2010 MTNs") issued by
Baoding Tianwei Yingli New Energy Company Limited ("Tianwei
Yingli"), a subsidiary of the Company, has filed a lawsuit against
Tianwei Yingli in a PRC court to recover the amount due under such
MTNs. The principal amount of the MTNs held by the Note
Holder is alleged to be RMB65.7
million, representing approximately 3.7% of the total amount
of the 2011 MTNs and 2010 MTNs that are still outstanding. While
the Company has endeavored to resolve the dispute with the Note
Holder out of court, the Note Holder recently informed the Company
that it plans to continue the legal proceeding in court. The Note
Holder claimed that Tianwei Yingli should repay principal, interest
and overdue penalty on the MTNs for an aggregate amount of
RMB74.4 million and bear costs
relating to the lawsuit. Tianwei Yingli plans to vigorously defend
its rights in court while continuing to seek a mutually beneficial
solution out of court. Considering the amount claimed by the Note
Holder, the Company does not expect this lawsuit to have any direct
material impact on the Company's overall operation.
The Company has notified all holders of the MTNs of this lawsuit
and expects to hold meetings with them in the near future to
discuss the Company's debt restructuring, strategic alternatives
and financing plans.
About Yingli Green Energy
Yingli Green Energy Holding Company Limited (NYSE: YGE), known
as "Yingli Solar," is one of the
world's leading solar panel manufacturers. Yingli Green Energy's
manufacturing covers the photovoltaic value chain from ingot
casting and wafering through solar cell production and PV module
assembly. Headquartered in Baoding, China, Yingli Green Energy has more than 20
regional subsidiaries and branch offices and has distributed more
than 17GW solar panels to customers worldwide. For more
information, please visit www.yinglisolar.com and join the
conversation on Facebook, Twitter and Weibo.
Safe Harbor Statement
This press release contains forward-looking statements. These
statements constitute "forward-looking" statements within the
meaning of Section 21E of the Securities Exchange Act of 1934, as
amended, and as defined in the U.S. Private Securities Litigation
Reform Act of 1995. These forward-looking statements can be
identified by terminology such as "will," "expects," "anticipates,"
"future," "intends," "plans," "believes," "estimates," "target" and
similar statements. Such statements are based upon management's
current expectations and current market and operating conditions,
and relate to events that involve known or unknown risks,
uncertainties and other factors, all of which are difficult to
predict and many of which are beyond Yingli Green Energy's control,
which may cause Yingli Green Energy's actual results, performance
or achievements to differ materially from those in the
forward-looking statements. Further information regarding these and
other risks, uncertainties or factors is included in Yingli Green
Energy's filings with the U.S. Securities and Exchange Commission.
Yingli Green Energy does not undertake any obligation to update any
forward-looking statement as a result of new information, future
events or otherwise, except as required under applicable law.
For further information, please contact:
Eric Pan
Investor Relations
Yingli Green Energy Holding Company Limited
Tel: +86 312 8929787
E-mail: ir@yingli.com
SOURCE Yingli Green Energy Holding Company Limited