BAODING, China, May 20, 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 issued the
following statement to respond to recent media coverage on the
Company's ability as a going concern as disclosed in its annual
report on Form 20-F for the year ended December 31, 2014 (the "2014 Annual Report")
filed with the U. S. Securities and Exchange Commission (the "SEC")
on May 15, 2015.
In accordance with the relevant rules and regulations of the SEC
and the New York Stock Exchange, Yingli Green Energy recently filed
the 2014 Annual Report with the SEC, in which the Company disclosed
its operating and financial results for 2014, including the
Company's historical financial performance, as well as the
Company's overall losses, debt-to-equity ratios and strategic
investments. In line with the prudent analysis of its independent
auditors, the Company stated in the 2014 Annual Report that there
is substantial doubt as to the Company's ability to continue as a
going concern. However, this statement has been taken and
interpreted out of context in some media coverages. The Company has
been transparent not only about the risks and challenges it faces,
but also about the Company's alternative plans to mitigate future
risks and challenges. The Company has already taken a series of
positive and substantive actions and steps relating to its debt
repayment plans, including the recent repayment of the Company's
mid-term notes in the principal amount of RMB 1.2 billion, which matured on May 3, 2015. Overall, the Company is optimistic
about and confident in its ability to continue servicing the global
solar market, and feel well-positioned with our quality products
and access to capital in order to take advantage of the current
surge in solar demand.
Mr. Liansheng Miao, the chairman
and chief executive officer of Yingli Green Energy, commented,
"While we still have another series of medium term notes in the
principal amount of RMB 1.0 billion
due on October 13, 2015, we believe
that we will meet our repayment obligations based on the
substantial progress we have achieved to date to secure funds to
repay these notes on schedule."
For further clarification, the Company will host a conference
call at 8:15 AM U.S. Eastern Daylight
Time (GMT+8, 8:15 PM), on
May 20th 2015. The Chief
Executive Officer and Chief Financial Officer of the Company will
attend the conference call and answer questions from our investors
and the market.
The dial-in details for the live conference call are as
follows:
-- U.S. Toll Free Number: +1-866-519-4004
-- International Dial-in Number: +1-845-675-0437
-- Passcode: 52440717
A replay of the conference call will be available until
May 28, 2015 by dialing:
-- U.S. Toll Free Number: +1-855-452-5696
-- International Dial-in Number: +1-646-254-3697
-- Passcode: 52440717
In addition, the Company also announced that it will host first
quarter 2015 results conference call on June
5th, 2015 and will distribute its earnings
announcement before the call.
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 13 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. All forward-looking 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