BAODING, China, Feb. 15, 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, on February 9,
2017, the Company received notification from NYSE Regulation
of being below the continued listing standards of the New York
Stock Exchange ("NYSE"). The Company is considered below criteria
established by the NYSE because the Company's average market
capitalization has been less than US$50
million over a consecutive 30 trading-day period and its
last reported shareholders' equity was less than US$50 million.
In accordance with NYSE procedures, the Company has 90 days from
the receipt of the notice to submit a plan to the NYSE
demonstrating how it intends to regain compliance with the NYSE's
continued listing standards within 18 months (the "plan period").
Yingli Green Energy intends to develop and submit such a business
plan within the required time frame. The NYSE staff will then
evaluate the plan to determine whether the Company has made a
reasonable demonstration of an ability to come into conformity with
the listing standard within 18 months.
In the event the NYSE accepts the plan, the Company will be
subject to quarterly monitoring for compliance with the plan and
the Company's ADSs will continue to trade on the NYSE during the
plan period, subject to the Company's compliance with other NYSE
continued listing requirements. In the event the NYSE does not
accept the plan, the Company will be subject to suspension by the
NYSE and delisting procedures. In the event the Company is
delisted, the stock may continue to be traded in the
Over-The-Counter (or OTC) market.
The Company's business operations, its U.S. Securities and
Exchange Commission reporting requirements, credit agreements and
all other contractual obligations, including sales and procurement
contracts, are unaffected by the notice from NYSE.
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 PV
module assembly. Headquartered in Baoding, China, Yingli Green Energy has more than 30
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. Potential risks and uncertainties
include, but are not limited to, uncertainties as to Yingli Green
Energy's ability to meet the standards necessary to maintain
listing of its ADSs on the NYSE or other stock exchange, including
its ability to cure the non-compliance with NYSE's continued
listing criteria in a timely manner or at all. 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
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SOURCE Yingli Green Energy Holding Company Limited