Yingli Green Energy Holding

www.yinglisolar.com/en/
Baoding, China

Yingli , also known as Yingli Green Energy Holding Company Limited , is a solar energy company and photovoltaic manufacturer. The company develops, manufactures, and sells solar modules under the brand name Yingli Solar in Germany, Spain, Italy, Greece, France, South Korea, China, Japan, Australia, and the United States. Headquartered in Baoding, China, the company has 21 branch offices and subsidiaries abroad. The company is a sponsor of the 2014 FIFA World Cup, U.S. men’s and women’s national soccer teams, and FC Bayern Munich. Wikipedia.

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News Article | May 3, 2017
Site: en.prnasia.com

BAODING, China, May 3, 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 its primary operating subsidiaries, Yingli Energy (China) Company Limited ("Yingli China"), has paid RMB318 million (equivalent to approximately US$46 million) to China Government Securities Depository Trust and Clearing Company Limited, as depositary and custodian for the RMB300 million five-year unsecured medium-term notes due May 3, 2017 issued by Yingli China in May 2012 (the "2012 MTNs"), representing payment in full of the principal of, and accrued interests on, the 2012 MTNs. As such, Yingli China has discharged all of its payment obligations under the 2012 MTNs. 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 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. 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: To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/yingli-green-energy-announces-full-payment-of-2012-mtns-300450420.html


BAODING, China, June 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 the special committee (the "Special Committee") of its Board of Directors has engaged Ernst & Young as its financial advisor and Simpson Thacher & Bartlett LLP and Commerce & Finance Law Offices as its legal advisors. As previously announced by the Company, the Special Committee was formed in March 2017 in order to properly consider the Company's options with respect to and ultimately resolve the debt repayment issues faced by the Company's principal subsidiaries. The financial and legal advisors will assist the Special Committee in carrying out its work including assessment of the Company's operating and financial situation and evaluating, developing and recommending one or more strategic alternatives and financing plans potentially available to the Company in order to improve its debt structure. The time that may be required for the Special Committee to complete its work and any assessment, evaluation and recommendation to be made by the Special Committee are unpredictable. No timetable has been set for the Special Committee to complete its work. No decision has been made to engage in any particular transaction or transactions. There can be no assurance that the Special Committee or the board of directors of the Company will authorize the pursuit of any strategic alternative. The Company does not expect to comment further or update the market with any additional information unless and until the Special Committee has approved a specific transaction or otherwise deems disclosure necessary or appropriate.


News Article | June 15, 2017
Site: en.prnasia.com

BAODING, China, June 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, known as "Yingli Solar," today announced its unaudited consolidated financial results for the quarter ended March 31, 2017. First Quarter 2017 Consolidated Financial and Operating Summary "Mainly affected by the the traditional seasonality in China and the soft demand along with the reduction of feed-in-tariff (FiT) in Japan, the Company's PV module shipments in the first quarter of 2017 decreased to 370.9MW, which was slightly below previous guidance. But the gross margin on sales of PV modules was maintained at 8.8% in the first quarter of 2017," commented Mr. Liansheng Miao, Chairman and Chief Executive Officer of Yingli Green Energy. "Geographically, we have seen a surge of orders from China since late April driven by rise in demand before the expected FiT reduction in China on June 30, 2017, and expect a significant increase of PV module shipments in the second quarter of 2017. For the second half of the year, we believe that the Top Runner program, PV Poverty Alleviation projects, and Distributed Generation projects in China will continue to provide strong support for our PV module sales. In Japan, in addition to large scale projects, we are focusing on developing new customers who are continuously developing small to middle-sized projects, including both FiT projects and non-FiT projects in local areas. We have also completed the optimization of our business in Latin Americas and started the transition of our business in EU region to a more cost-effective structure that can adapt more easily and faster to changing market conditions." "According to information we have obtained, as the largest PV project powered by our patented PANDA Bifacial PV module, Datong 50 MW Top Runner project produced electricity from July 2016 to April 2017 that far exceeded expectation and the project's monthly power output is up to 15.6% higher than projects with traditional polycrystalline PV modules with the same capacity. In addition, the Europe's largest bifacial PV solar plant powered by our PANDA N-type bifacial PV modules was completed in early June. Such results demonstrated the success of our long-term commitment to technology innovation. We are also improving the PANDA Bifacial module by increasing its power output and working on mass production and promotion of Smart Hot-spot Free series modules." Mr. Miao concluded. Total net revenues were RMB1,238.3 million (US$179.9 million), compared to RMB2,041.4 million in the fourth quarter of 2016 and RMB2,351.1 million in the first quarter of 2016. Total PV module shipments were 370.9MW, compared to 635.1MW in the fourth quarter of 2016 and 508.1MW in the first quarter of 2016. The decrease of total net revenues from the fourth quarter of 2016 to the first quarter of 2017 was mainly due to the decrease of PV module shipments from 635.1MW to 370.9MW, primarily as a result of the traditional seasonality in China and the soft demand along with the reduction of feed-in-tariff in Japan, which were the Company's largest two markets, and slightly decrease of average selling price for PV module worldwide. The decrease of total net revenues from the first quarter of 2016 to the first quarter of 2017 was mainly due to the decrease of PV module shipments from 508.1MW to 370.9MW, primarily as a result of the decrease of PV module shipments to Japan and U.S., as well as the general decline of average selling prices of PV module worldwide. Gross profit was RMB61.5 million (US$8.9 million) in the first quarter of 2017, compared to RMB142.2 million in the fourth quarter of 2016 and compared to RMB469.3 million in the first quarter of 2016. Gross margin was 5.0% in the first quarter of 2017, compared to 7.0% in the fourth quarter of 2016 and 20.0% in the first quarter of 2016. Gross margin on sales of PV modules was 8.8% in the first quarter of 2017, compared to 8.8% in the fourth quarter of 2016 and 19.7% in the first quarter of 2016. The decrease in gross profit and gross margin from the fourth quarter of 2016 to the first quarter of 2017 was mainly due to the decrease of PV module shipments from 635.1MW to 370.9MW and the lower gross margin on sales of PV cells. The decrease in gross margin from the first quarter of 2016 to the first quarter of 2017 was mainly due to the decrease of average selling price of the Company's PV modules as a result of the decrease of average selling price for PV module worldwide as well as the decrease of shipments to Japan and U.S. Markets where the selling price of PV modules were generally higher than other markets. Operating expenses were RMB165.1 million (US$24.0 million), decreased significantly from RMB1,944.9 million in the fourth quarter of 2016 and RMB282.8 million in the first quarter of 2016. Operating expenses as a percentage of net revenue was 13.3% in the first quarter of 2017, compared to 95.3% in the fourth quarter of 2016 and 12.0% in the first quarter of 2016. The significant decrease of operating expenses from the fourth quarter of 2016 to the first quarter of 2017 was mainly due to the following operating expenses recorded in the fourth quarter of 2016: (i) impairment loss of RMB1,277.4 million for property, plant and equipment based on the difference between carrying value and fair value of such long-lived assets, (ii) a provision of RMB143.0 million on receivables from disposal of land use right, (iii) a provision of RMB97.8 million on prepayment made to a supplier due to its continued failure to fulfil its delivery obligation under its contracts with the Company, and (iv) a provision of RMB59 million related to an on-going litigation between the Company and a supplier. Besides, the Company made RMB52.8 million of provision for reserve for inventory purchase commitments in the fourth quarter of 2016 as a result of a foreign exchange re-measurement due to significant fluctuation in the foreign exchange rate between the Renminbi and U.S. dollars, while the Company recorded a reversal of RMB7.7 million of such provision in the first quarter of 2017 due to the foreign exchange re-measurement. In addition to aforementioned impairment and provisions, the decrease of operating expenses from the fourth quarter of 2016 to the first quarter of 2017 was also due to decrease of PV module shipments, more strict and effective control on general and administrative expenses, and the decrease of research and development activities in the first quarter of 2017. However, selling expenses and research and development expenses may increase in future periods if the Company's PV module shipments and research and development activities increase. Operating loss was RMB103.5 million (US$15.0 million) in the first quarter of 2017, compared to operating loss of RMB1,802.7 million in the fourth quarter of 2016 and operating income of RMB186.4 million in the first quarter of 2016. Operating margin was negative 8.4% in the first quarter of 2017, compared to negative 88.3% in the fourth quarter of 2016 and 7.9% in the first quarter of 2016. On a non-GAAP basis, earnings before interest, tax expenses, depreciation and amortization ("EBITDA") were RMB101.3 million (US$14.7 million), compared to negative RMB1,528.3 million in the fourth quarter of 2016 and RMB483.1 million in the first quarter of 2016. Interest expense was RMB156.5 million (US$22.7 million) in the first quarter of 2017, compared to RMB168.8 million in the fourth quarter of 2016 and RMB176.1 million in the first quarter of 2016. The Company's average interest rate was 5.17% in the first quarter of 2017, compared to 5.31%in the fourth quarter of 2016 and 6.30% in the first quarter of 2016. Foreign currency exchange gain was RMB29.9 million (US$4.3 million) in the first quarter of 2017, compared to foreign currency exchange loss of RMB104.0 million in the fourth quarter of 2016 and foreign currency exchange gain of RMB55.5 million in the first quarter of 2016. The foreign currency exchange gain in the first quarter of 2017 was mainly due to the appreciation of Japanese Yen against Renminbi because the Company had a net balance of financial assets denominated in Japanese Yen, and the appreciation of Renminbi against US dollar because the Company had a net balance of financial liabilities denominated in US dollar. Income tax expense was RMB0.09 million (US$0.01 million) in the first quarter of 2017, compared to RMB11.2 million in the fourth quarter of 2016 and RMB13.9 million in the first quarter of 2016. Net loss was RMB184.4 million (US$26.8 million) in the first quarter of 2017, compared to net loss of RMB1,913.7 million in the fourth quarter of 2016 and net income of RMB79.6 million in the first quarter of 2016. Loss per ADS was RMB10.1 (US$1.5) in the first quarter of 2017, compared to loss per ADS of RMB105.3 in the fourth quarter of 2016 and earnings per ADS of RMB4.4 in the first quarter of 2016. On an adjusted non-GAAP basis, adjusted net loss was RMB191.9 million (US$27.9 million), compared to adjusted net loss of RMB583.1 million in the fourth quarter of 2016 and adjusted net income was RMB73.3 million in the first quarter of 2016; adjusted loss per ADS was RMB10.6 (US$1.5) in the first quarter of 2017, compared to adjusted loss per ADS of RMB32.1 in the fourth quarter of 2016 and adjusted earnings per ADS of RMB4.0 in the first quarter of 2016. As of March 31, 2017, the Company had RMB417.3 million (US$60.6 million) in cash and cash equivalents, decreased from RMB506.6 million as of December 31, 2016. As of March 31, 2017, the Company had RMB374.3 million (US$54.4 million) in restricted cash, increased from RMB361.8 million as of December 31, 2016. As of March 31, 2017, the Company's accounts receivable had increased to RMB2,728.1 million (US$396.3 million) from RMB2,634.8 million as of December 31, 2016. Days sales outstanding were 198 days in the first quarter of 2017, increased from 116 days in the fourth quarter of 2016, mainly due to the significant decrease of total net revenues in the first quarter of 2017 while the average accounts receivable for the quarter mainly related to significantly higher sales from previous quarters. As of March 31, 2017, the Company's accounts payable had increased to RMB2,585.3 million (US$375.6 million) from RMB2,471.8 million as of December 31, 2016. Days payable outstanding were 198 days in the first quarter of 2017, increased from 117 days in the fourth quarter of 2016. As of March 31, 2017, the Company's inventory had increased to RMB1,552.7 million (US$225.6 million) from RMB1,314.8 million as of December 31, 2016, which was mainly due to the decrease of PV module shipments from 635.1MW in the fourth quarter of 2016 to 370.9MW in the first quarter of 2017. Inventory turnover days were 119 days in the first quarter of 2017, compared to 62 days in the fourth quarter of 2016. On May 3, 2017, the Company paid the RMB300 million of RMB-denominated five-year medium-term notes issued by Yingli China in 2012 (the"2012 MTNs") with full principle and accrued interests totalling RMB318 million when they matured. As such, Yingli China has discharged all of its payment obligations under the 2012 MTNs. As of the date of this press release, one of the Company's subsidiaries, Tianwei Yingli, had medium-term notes, or MTNs, of RMB1,757.0 million outstanding, including RMB357.0 million of the MTNs issued in 2010 (the "2010 MTNs"), which became due on October 13, 2015, and RMB1.4 billion of the MTNs issued in 2011 (the "2011 MTNs"), which became due on May 12, 2016. Tianwei Yingli is currently in payment default of the 2010 MTNs and 2011 MTNs. The Company is continuing its negotiations with holders of the 2010 MTNs and 2011 MTNs. As of the date of this press release, the Company has not reached any agreement with the holders of the 2010 MTNs and 2011 MTNs or any other party with respect to any concrete financing plan or plan for repayment of the 2010 MTNs and 2011 MTNs yet. Based on current market conditions, the Company's current operating conditions, estimated production capacity and forecasted customer demand, the Company expects its PV module shipments to be in the estimated range of 950 MW to 1,050MW for the second quarter of 2017. To supplement the financial measures calculated in accordance with GAAP, this press release may include certain non-GAAP financial measures of adjusted gross profit, adjusted gross margin, adjusted operating expenses adjusted operating profit or loss, adjusted operating margin, adjusted net income (loss), adjusted diluted earnings (loss) per ordinary share and per ADS and EBITDA, each of which (other than EBITDA) is adjusted to exclude, as applicable, items related to share-based compensation, impairment of long-lived assets, provision for reserve for inventory purchase commitments and provision for prepayments in relation to inventory purchase commitments. EBITDA excludes interest, tax expenses, depreciation and amortization. The Company believes excluding these items from its non-GAAP financial measures is useful for its management and investors to assess and analyze the Company's on-going performance as such items are not directly attributable to the underlying performance of the Company's business operations and/or do not impact its cash earnings. The Company also believes these non-GAAP financial measures are important to help investors understand the Company's current financial performance and future prospects and compare business trends among different reporting periods on a consistent basis. These non-GAAP financial measures should be considered in addition to financial measures presented in accordance with GAAP, but should not be considered as a substitute for, or superior to, financial measures presented in accordance with GAAP. For a reconciliation of each of these non-GAAP financial measures to the most directly comparable GAAP financial measure, please see the financial information included elsewhere in this press release. Solely for the convenience of readers, certain Renminbi amounts have been translated into U.S. dollar amounts at the rate of RMB6.8832 to US$1.00, the noon buying rate in New York for cable transfers of Renminbi per U.S. dollar as set forth in the H.10 weekly statistical release of the Federal Reserve Board as of March 31, 2017. No representation is intended to imply that these translated Renminbi amounts could have been, or could be, converted, realized or settled into U.S. dollar amounts at such rate, or at any other rate. The percentages stated in this press release are calculated based on Renminbi amounts. Yingli Green Energy will host a conference call and live webcast to discuss the results at 8:00 AM Eastern Daylight Time on June 15, 2017, which corresponds to 8:00 PM Beijing/Hong Kong time on the same day. The dial-in details for the live conference call are as follows: A live and archived webcast of the conference call will be available on the Investors section of Yingli Green Energy's website at www.yinglisolar.com. A webcast On-Demand will be available shortly after the call on Yingli Green Energy's website for 12 months. A replay of the conference call will be available until June 23, 2017 by dialing: Yingli Green Energy Holding Company Limited (NYSE: YGE), known as "Yingli Solar", is one of the world's leading photovoltaic (PV) module 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 17 GW solar panels to customers worldwide. For more information, please visit www.yinglisolar.com and join the conversation on Facebook, Twitter and Weibo. 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: To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/yingli-green-energy-reports-first-quarter-2017-results-300474530.html


News Article | June 15, 2017
Site: www.prnewswire.com

First Quarter 2017 Consolidated Financial and Operating Summary "Mainly affected by the the traditional seasonality in China and the soft demand along with the reduction of feed-in-tariff (FiT) in Japan, the Company's PV module shipments in the first quarter of 2017 decreased to 370.9MW, which was slightly below previous guidance. But the gross margin on sales of PV modules was maintained at 8.8% in the first quarter of 2017," commented Mr. Liansheng Miao, Chairman and Chief Executive Officer of Yingli Green Energy. "Geographically, we have seen a surge of orders from China since late April driven by rise in demand before the expected FiT reduction in China on June 30, 2017, and expect a significant increase of PV module shipments in the second quarter of 2017. For the second half of the year, we believe that the Top Runner program, PV Poverty Alleviation projects, and Distributed Generation projects in China will continue to provide strong support for our PV module sales. In Japan, in addition to large scale projects, we are focusing on developing new customers who are continuously developing small to middle-sized projects, including both FiT projects and non-FiT projects in local areas. We have also completed the optimization of our business in Latin Americas and started the transition of our business in EU region to a more cost-effective structure that can adapt more easily and faster to changing market conditions." "According to information we have obtained, as the largest PV project powered by our patented PANDA Bifacial PV module, Datong 50 MW Top Runner project produced electricity from July 2016 to April 2017 that far exceeded expectation and the project's monthly power output is up to 15.6% higher than projects with traditional polycrystalline PV modules with the same capacity. In addition, the Europe's largest bifacial PV solar plant powered by our PANDA N-type bifacial PV modules was completed in early June. Such results demonstrated the success of our long-term commitment to technology innovation. We are also improving the PANDA Bifacial module by increasing its power output and working on mass production and promotion of Smart Hot-spot Free series modules." Mr. Miao concluded. Total net revenues were RMB1,238.3 million (US$179.9 million), compared to RMB2,041.4 million in the fourth quarter of 2016 and RMB2,351.1 million in the first quarter of 2016. Total PV module shipments were 370.9MW, compared to 635.1MW in the fourth quarter of 2016 and 508.1MW in the first quarter of 2016. The decrease of total net revenues from the fourth quarter of 2016 to the first quarter of 2017 was mainly due to the decrease of PV module shipments from 635.1MW to 370.9MW, primarily as a result of the traditional seasonality in China and the soft demand along with the reduction of feed-in-tariff in Japan, which were the Company's largest two markets, and slightly decrease of average selling price for PV module worldwide. The decrease of total net revenues from the first quarter of 2016 to the first quarter of 2017 was mainly due to the decrease of PV module shipments from 508.1MW to 370.9MW, primarily as a result of the decrease of PV module shipments to Japan and U.S., as well as the general decline of average selling prices of PV module worldwide. Gross profit was RMB61.5 million (US$8.9 million) in the first quarter of 2017, compared to RMB142.2 million in the fourth quarter of 2016 and compared to RMB469.3 million in the first quarter of 2016. Gross margin was 5.0% in the first quarter of 2017, compared to 7.0% in the fourth quarter of 2016 and 20.0% in the first quarter of 2016. Gross margin on sales of PV modules was 8.8% in the first quarter of 2017, compared to 8.8% in the fourth quarter of 2016 and 19.7% in the first quarter of 2016. The decrease in gross profit and gross margin from the fourth quarter of 2016 to the first quarter of 2017 was mainly due to the decrease of PV module shipments from 635.1MW to 370.9MW and the lower gross margin on sales of PV cells. The decrease in gross margin from the first quarter of 2016 to the first quarter of 2017 was mainly due to the decrease of average selling price of the Company's PV modules as a result of the decrease of average selling price for PV module worldwide as well as the decrease of shipments to Japan and U.S. Markets where the selling price of PV modules were generally higher than other markets. Operating expenses were RMB165.1 million (US$24.0 million), decreased significantly from RMB1,944.9 million in the fourth quarter of 2016 and RMB282.8 million in the first quarter of 2016. Operating expenses as a percentage of net revenue was 13.3% in the first quarter of 2017, compared to 95.3% in the fourth quarter of 2016 and 12.0% in the first quarter of 2016. The significant decrease of operating expenses from the fourth quarter of 2016 to the first quarter of 2017 was mainly due to the following operating expenses recorded in the fourth quarter of 2016: (i) impairment loss of RMB1,277.4 million for property, plant and equipment based on the difference between carrying value and fair value of such long-lived assets, (ii) a provision of RMB143.0 million on receivables from disposal of land use right, (iii) a provision of RMB97.8 million on prepayment made to a supplier due to its continued failure to fulfil its delivery obligation under its contracts with the Company, and (iv) a provision of RMB59 million related to an on-going litigation between the Company and a supplier. Besides, the Company made RMB52.8 million of provision for reserve for inventory purchase commitments in the fourth quarter of 2016 as a result of a foreign exchange re-measurement due to significant fluctuation in the foreign exchange rate between the Renminbi and U.S. dollars, while the Company recorded a reversal of RMB7.7 million of such provision in the first quarter of 2017 due to the foreign exchange re-measurement. In addition to aforementioned impairment and provisions, the decrease of operating expenses from the fourth quarter of 2016 to the first quarter of 2017 was also due to decrease of PV module shipments, more strict and effective control on general and administrative expenses, and the decrease of research and development activities in the first quarter of 2017. However, selling expenses and research and development expenses may increase in future periods if the Company's PV module shipments and research and development activities increase. Operating loss was RMB103.5 million (US$15.0 million) in the first quarter of 2017, compared to operating loss of RMB1,802.7 million in the fourth quarter of 2016 and operating income of RMB186.4 million in the first quarter of 2016. Operating margin was negative 8.4% in the first quarter of 2017, compared to negative 88.3% in the fourth quarter of 2016 and 7.9% in the first quarter of 2016. On a non-GAAP basis, earnings before interest, tax expenses, depreciation and amortization ("EBITDA") were RMB101.3 million (US$14.7 million), compared to negative RMB1,528.3 million in the fourth quarter of 2016 and RMB483.1 million in the first quarter of 2016. Interest expense was RMB156.5 million (US$22.7 million) in the first quarter of 2017, compared to RMB168.8 million in the fourth quarter of 2016 and RMB176.1 million in the first quarter of 2016. The Company's average interest rate was 5.17% in the first quarter of 2017, compared to 5.31%in the fourth quarter of 2016 and 6.30% in the first quarter of 2016. Foreign currency exchange gain was RMB29.9 million (US$4.3 million) in the first quarter of 2017, compared to foreign currency exchange loss of RMB104.0 million in the fourth quarter of 2016 and foreign currency exchange gain of RMB55.5 million in the first quarter of 2016. The foreign currency exchange gain in the first quarter of 2017 was mainly due to the appreciation of Japanese Yen against Renminbi because the Company had a net balance of financial assets denominated in Japanese Yen, and the appreciation of Renminbi against US dollar because the Company had a net balance of financial liabilities denominated in US dollar. Income tax expense was RMB0.09 million (US$0.01 million) in the first quarter of 2017, compared to RMB11.2 million in the fourth quarter of 2016 and RMB13.9 million in the first quarter of 2016. Net loss was RMB184.4 million (US$26.8 million) in the first quarter of 2017, compared to net loss of RMB1,913.7 million in the fourth quarter of 2016 and net income of RMB79.6 million in the first quarter of 2016. Loss per ADS was RMB10.1 (US$1.5) in the first quarter of 2017, compared to loss per ADS of RMB105.3 in the fourth quarter of 2016 and earnings per ADS of RMB4.4 in the first quarter of 2016. On an adjusted non-GAAP basis, adjusted net loss was RMB191.9 million (US$27.9 million), compared to adjusted net loss of RMB583.1 million in the fourth quarter of 2016 and adjusted net income was RMB73.3 million in the first quarter of 2016; adjusted loss per ADS was RMB10.6 (US$1.5) in the first quarter of 2017, compared to adjusted loss per ADS of RMB32.1 in the fourth quarter of 2016 and adjusted earnings per ADS of RMB4.0 in the first quarter of 2016. As of March 31, 2017, the Company had RMB417.3 million (US$60.6 million) in cash and cash equivalents, decreased from RMB506.6 million as of December 31, 2016. As of March 31, 2017, the Company had RMB374.3 million (US$54.4 million) in restricted cash, increased from RMB361.8 million as of December 31, 2016. As of March 31, 2017, the Company's accounts receivable had increased to RMB2,728.1 million (US$396.3 million) from RMB2,634.8 million as of December 31, 2016. Days sales outstanding were 198 days in the first quarter of 2017, increased from 116 days in the fourth quarter of 2016, mainly due to the significant decrease of total net revenues in the first quarter of 2017 while the average accounts receivable for the quarter mainly related to significantly higher sales from previous quarters. As of March 31, 2017, the Company's accounts payable had increased to RMB2,585.3 million (US$375.6 million) from RMB2,471.8 million as of December 31, 2016. Days payable outstanding were 198 days in the first quarter of 2017, increased from 117 days in the fourth quarter of 2016. As of March 31, 2017, the Company's inventory had increased to RMB1,552.7 million (US$225.6 million) from RMB1,314.8 million as of December 31, 2016, which was mainly due to the decrease of PV module shipments from 635.1MW in the fourth quarter of 2016 to 370.9MW in the first quarter of 2017. Inventory turnover days were 119 days in the first quarter of 2017, compared to 62 days in the fourth quarter of 2016. On May 3, 2017, the Company paid the RMB300 million of RMB-denominated five-year medium-term notes issued by Yingli China in 2012 (the"2012 MTNs") with full principle and accrued interests totalling RMB318 million when they matured. As such, Yingli China has discharged all of its payment obligations under the 2012 MTNs. As of the date of this press release, one of the Company's subsidiaries, Tianwei Yingli, had medium-term notes, or MTNs, of RMB1,757.0 million outstanding, including RMB357.0 million of the MTNs issued in 2010 (the "2010 MTNs"), which became due on October 13, 2015, and RMB1.4 billion of the MTNs issued in 2011 (the "2011 MTNs"), which became due on May 12, 2016. Tianwei Yingli is currently in payment default of the 2010 MTNs and 2011 MTNs. The Company is continuing its negotiations with holders of the 2010 MTNs and 2011 MTNs. As of the date of this press release, the Company has not reached any agreement with the holders of the 2010 MTNs and 2011 MTNs or any other party with respect to any concrete financing plan or plan for repayment of the 2010 MTNs and 2011 MTNs yet. Based on current market conditions, the Company's current operating conditions, estimated production capacity and forecasted customer demand, the Company expects its PV module shipments to be in the estimated range of 950 MW to 1,050MW for the second quarter of 2017. To supplement the financial measures calculated in accordance with GAAP, this press release may include certain non-GAAP financial measures of adjusted gross profit, adjusted gross margin, adjusted operating expenses adjusted operating profit or loss, adjusted operating margin, adjusted net income (loss), adjusted diluted earnings (loss) per ordinary share and per ADS and EBITDA, each of which (other than EBITDA) is adjusted to exclude, as applicable, items related to share-based compensation, impairment of long-lived assets, provision for reserve for inventory purchase commitments and provision for prepayments in relation to inventory purchase commitments. EBITDA excludes interest, tax expenses, depreciation and amortization. The Company believes excluding these items from its non-GAAP financial measures is useful for its management and investors to assess and analyze the Company's on-going performance as such items are not directly attributable to the underlying performance of the Company's business operations and/or do not impact its cash earnings. The Company also believes these non-GAAP financial measures are important to help investors understand the Company's current financial performance and future prospects and compare business trends among different reporting periods on a consistent basis. These non-GAAP financial measures should be considered in addition to financial measures presented in accordance with GAAP, but should not be considered as a substitute for, or superior to, financial measures presented in accordance with GAAP. For a reconciliation of each of these non-GAAP financial measures to the most directly comparable GAAP financial measure, please see the financial information included elsewhere in this press release. Solely for the convenience of readers, certain Renminbi amounts have been translated into U.S. dollar amounts at the rate of RMB6.8832 to US$1.00, the noon buying rate in New York for cable transfers of Renminbi per U.S. dollar as set forth in the H.10 weekly statistical release of the Federal Reserve Board as of March 31, 2017. No representation is intended to imply that these translated Renminbi amounts could have been, or could be, converted, realized or settled into U.S. dollar amounts at such rate, or at any other rate. The percentages stated in this press release are calculated based on Renminbi amounts. Yingli Green Energy will host a conference call and live webcast to discuss the results at 8:00 AM Eastern Daylight Time on June 15, 2017, which corresponds to 8:00 PM Beijing/Hong Kong time on the same day. The dial-in details for the live conference call are as follows: A live and archived webcast of the conference call will be available on the Investors section of Yingli Green Energy's website at www.yinglisolar.com. A webcast On-Demand will be available shortly after the call on Yingli Green Energy's website for 12 months. A replay of the conference call will be available until June 23, 2017 by dialing: Yingli Green Energy Holding Company Limited (NYSE: YGE), known as "Yingli Solar", is one of the world's leading photovoltaic (PV) module 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 17 GW solar panels to customers worldwide. For more information, please visit www.yinglisolar.com and join the conversation on Facebook, Twitter and Weibo. 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: To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/yingli-green-energy-reports-first-quarter-2017-results-300474530.html


BAODING, China, June 8, 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 it plans to release its unaudited financial results for the first quarter ended March 31, 2017, before the U.S. market opens on Thursday, June 15, 2017. The Company has scheduled a corresponding conference call and live webcast to discuss the results at 8:00 AM Eastern Daylight Time on June 15, 2017, which corresponds to 8:00 PM Beijing/Hong Kong time on the same day. The dial-in details for the live conference call are as follows: A live and archived webcast of the conference call will be available on the Investors section of Yingli Green Energy's website at www.yinglisolar.com. A webcast On-Demand will be available shortly after the call on Yingli Green Energy's website for 12 months. A replay of the conference call will be available until June 23, 2017 by dialing: Yingli Green Energy Holding Company Limited (NYSE: YGE), known as "Yingli" or "Yingli Solar", is one of the world's leading solar panel manufacturers. Yingli'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 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. 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's control. Forward-looking statements involve risks, uncertainties and other factors that could cause actual results to differ materially from those contained in any such statements. Further information regarding these and other risks, uncertainties or factors is included in Yingli's filings with the U.S. Securities and Exchange Commission. Yingli 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: To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/yingli-green-energy-to-announce-first-quarter-2017-financial-results-on-june-15-2017-300470934.html


BAODING, China, June 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, announced today that the New York Stock Exchange ("NYSE") has accepted the Company's plan for continued listing and has granted the Company an 18 month extension until August 9, 2018 to regain compliance with the NYSE's continued listing standards. As a result, Yingli Green Energy's ADSs will continue to be listed and traded on the NYSE, subject to quarterly reviews by the NYSE to monitor the Company's progress against its plan to restore compliance with continued listing standards. Yingli Green Energy previously announced on February 15, 2017 that it was below the NYSE's continued listing standards related to market capitalization and shareholders' equity. The Company subsequently submitted a plan to regain compliance to the NYSE. Yingli Green Energy will continue to work proactively with the NYSE to maintain the listing of its ADSs during the relevant compliance period. 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 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. 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: To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/yingli-green-energy-announces-continued-listing-plan-accepted-by-the-new-york-stock-exchange-300474430.html


BAODING, China, June 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, announced today that the New York Stock Exchange ("NYSE") has accepted the Company's plan for continued listing and has granted the Company an 18 month extension until August 9, 2018 to regain compliance with the NYSE's continued listing standards. As a result, Yingli Green Energy's ADSs will continue to be listed and traded on the NYSE, subject to quarterly reviews by the NYSE to monitor the Company's progress against its plan to restore compliance with continued listing standards. Yingli Green Energy previously announced on February 15, 2017 that it was below the NYSE's continued listing standards related to market capitalization and shareholders' equity. The Company subsequently submitted a plan to regain compliance to the NYSE. Yingli Green Energy will continue to work proactively with the NYSE to maintain the listing of its ADSs during the relevant compliance period. 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 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. 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: To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/yingli-green-energy-announces-continued-listing-plan-accepted-by-the-new-york-stock-exchange-300474430.html


News Article | June 6, 2017
Site: en.prnasia.com

BAODING, China, June 6, 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 its withdrawal from the European Union ("EU") Price Undertaking agreement (the "UT agreement"). In December 2013, the Council of the European Union adopted prior findings of the European Commission and imposed definitive anti-dumping and anti-subsidy duties on crystalline silicon photovoltaic, or CSPV, wafers, cells, and modules imported from China. In parallel, in August 2013 the European Commission accepted the UT agreement whereby certain Chinese exporters of PV products would limit their exports of solar panels to the EU to a certain quota and set prices above a fixed Minimum Import Price ("MIP"), in exchange for the EU agreeing to forgo the imposition of anti-dumping and anti-subsidy duties. Chinese exporters of PV products that did not accept the UT agreement would face anti-dumping and anti-subsidy duties, which would have been 35.5% and 6.3%, respectively, for Yingli Green Energy. Therefore, at the time the Company chose to accept and participate in the UT agreement and has since complied with its terms and conditions. However, given that the average selling prices of PV modules in all major EU markets have continued to decline commensurate with the significantly shrinking market for PV products in recent years, the Company believes that the current MIP no longer accurately reflects the current market price environment. The Company believes that its continued acceptance of and participation in the UT agreement would harm fair competition in the market. The Company also is of the view that the UT agreement and its current MIP have the potential to hamper the development of the PV industry and to hurt PV consumers in the EU. "Since accepting the UT agreement in 2013, we have been committed to fair trade and robust market competition by participating in the price undertaking. However, after carefully reviewing our EU operations and the current market situation, we have decided to withdraw from the UT agreement. We remain committed to our European customers and intend to continue to serve them with high-quality, reliable products through means that are feasible and available to us after the withdrawal from the UT agreement," commented Mr. Liansheng Miao, Chairman and CEO of 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 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. 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: To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/yingli-green-energy-announced-withdrawal-from-eu-price-undertaking-300469272.html


News Article | June 6, 2017
Site: www.prnewswire.com

However, given that the average selling prices of PV modules in all major EU markets have continued to decline commensurate with the significantly shrinking market for PV products in recent years, the Company believes that the current MIP no longer accurately reflects the current market price environment. The Company believes that its continued acceptance of and participation in the UT agreement would harm fair competition in the market. The Company also is of the view that the UT agreement and its current MIP have the potential to hamper the development of the PV industry and to hurt PV consumers in the EU. "Since accepting the UT agreement in 2013, we have been committed to fair trade and robust market competition by participating in the price undertaking. However, after carefully reviewing our EU operations and the current market situation, we have decided to withdraw from the UT agreement. We remain committed to our European customers and intend to continue to serve them with high-quality, reliable products through means that are feasible and available to us after the withdrawal from the UT agreement," commented Mr. Liansheng Miao, Chairman and CEO of 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 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. 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: To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/yingli-green-energy-announced-withdrawal-from-eu-price-undertaking-300469272.html


The dial-in details for the live conference call are as follows: A live and archived webcast of the conference call will be available on the Investors section of Yingli Green Energy's website at www.yinglisolar.com. A webcast On-Demand will be available shortly after the call on Yingli Green Energy's website for 12 months. A replay of the conference call will be available until June 23, 2017 by dialing: Yingli Green Energy Holding Company Limited (NYSE: YGE), known as "Yingli" or "Yingli Solar", is one of the world's leading solar panel manufacturers. Yingli'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 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. 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's control. Forward-looking statements involve risks, uncertainties and other factors that could cause actual results to differ materially from those contained in any such statements. Further information regarding these and other risks, uncertainties or factors is included in Yingli's filings with the U.S. Securities and Exchange Commission. Yingli 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: To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/yingli-green-energy-to-announce-first-quarter-2017-financial-results-on-june-15-2017-300470934.html

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