BAODING, China,
April 23, 2015 /PRNewswire/ -- Yingli
Green Energy Holding Company Limited (NYSE: YGE) ("Yingli Green
Energy" or the "Company"), one of the world's leading solar panel
manufacturers, known as "Yingli
Solar," today announced that its wholly-owned subsidiary,
Fine Silicon Co., Ltd. ("Fine Silicon"), has signed a
definitive agreement with the Land Reserve Centre of Baoding National High-tech Industrial
Development Zone (the "Reserve Centre") for sale to the Reserve
Centre land use rights to a piece of land held by Fine Silicon
currently not in active use (the "Land") and the attachments
thereon.
The Land has a total site area of 524,464 square meters and was
originally acquired for expansion of the Company's in-house
polysilicon production capacity. The Land and the attachments
thereon have not been put into active use since the Company changed
its plan with respect to in-house polysilicon production. The
Company does not expect sale of the Land and the attachments
thereon will have any negative impact on its business operation.
The Company understands that the Reserve Centre's decision to
acquire the Land was in accordance with the local government's plan
to rezone the area where the Land is located for non-industrial
use.
The aggregate purchase price that the Reserve Centre agreed to
pay Fine Silicon for land use rights to the Land and the
attachments thereon is RMB 588.2
million, which was agreed upon by both parties based on
valuation reports issued by third-party appraisal firms. The
Reserve Centre has paid to Fine Silicon RMB
500 million as of April
23rd, 2015. Remainder of the purchase price will
be paid within 30 days after the Reserve Centre re-sells the land
use rights to the Land to a third party.
"The purchase by the Reserve Centre of the land will benefit the
local government's plan to rezone the area for commercial use and
strengthen our overall cash flow", commented Mr. Miao Liansheng,
Chairman and Chief Executive Officer of Yingli Green Energy. "It
will also help us to fulfill our debt paying obligations."
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 solar panel
assembly. Headquartered in Baoding, China, Yingli Green Energy has more than 30
regional subsidiaries and branch offices and has distributed more
than 10 GW 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:
Qing Miao
Vice President of Corporate Communications
Yingli Green Energy Holding Company Limited
Tel: +86 312 8929787
E-mail: ir@yingli.com
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SOURCE Yingli Green Energy Holding Company Limited