Yingli Solar responds to media coverage of its ability as a going concern

Yingli Green Energy Holding Company Limited (Baoding, China), known as “Yingli Solar,” on May 20^th, 2015 issued a statement to respond to recent media coverage on the Company's ability to meet its financial obligations as disclosed in its annual report on Form 20-F for the year ended December 31^st, 2014, filed with the U. S. Securities and Exchange Commission on May 15^th, 2015.

“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,” reads the statement.

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, the company notes.

Yingli Green Energy emphasizes that the Company has been transparent not only about the risks and challenges it faces, but also about its 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^rd, 2015.”

Overall, the Company is optimistic about and confident in its ability to continue servicing the global solar PV market, and feels well-positioned with its products and access to capital in order to take advantage of the current surge in solar demand.

“While we still have another series of medium term notes in the principal amount of RMB 1.0 billion due on October 13^th, 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,” comments Liansheng Miao, the chairman and chief executive officer of Yingli Green Energy.

 

2015-05-21 | Courtesy: Yingli Green Energy | solarserver.com © Heindl Server GmbH

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