Class action lawsuits hit Yingli Green over going concern issues

Facebook
Twitter
LinkedIn
Reddit
Email

Tier-one integrated PV manufacturer Yingli Green Energy has been hit with several US-based proposed class action lawsuits over its statements in its delayed 2014 annual report regarding its going concern issues. 

Yingli Green has responded saying the actions are “without merit” and would “vigorously defend itself in this matter”, even though it has yet to be served with copy of the complaint. 

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

One of the lawsuits planned by Glancy Prongay & Murray LLP on behalf of investors cited a number of complaints outside the going concern issues. 

These included a claim that Yingli Green had inappropriately recognised revenue and had “no reasonable prospects to collect on certain accounts receivable based on historical customer conduct”.

It also claimed that Yingli Green “no longer able to borrow from commercial banks to fund its operations” and that impacted its ability to continue as a going concern. 

Law Offices of Howard G. Smith also made the same claims in a press statement. 

Liansheng Miao, the chairman and chief executive officer of Yingli Green Energy, had recently responded to media stories highlighting the going convern issues in its annual report, which included PV Tech, saying: “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.”

Read Next

October 3, 2025
Renewables developer Madison Energy Infrastructure has bought the US distributed generation assets of NextEra Energy Resources.
October 3, 2025
EDF Renewables and Enlight Renewable Energy have advanced solar-plus-storage projects in New Mexico and Arizona.
October 3, 2025
SunStrong Management has raised US$900 million to refinance a 'large portfolio' of residential solar assets developed by SunPower.
October 3, 2025
The US solar manufacturing industry is feeling bullish, despite the policy whiplash inflicted over the summer and the increased pressure on US solar supply chains.
October 3, 2025
Chinese government policies and supply-side production cuts will drive a significant increase in solar and storage component costs.
Premium
October 2, 2025
Australia's solar sector delivered a strong September performance in the National Electricity Market (NEM) as the country entered spring, with combined solar PV generation reaching 3,933GWh - a 17.83% increase from August's 3,338GWh.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
October 7, 2025
Manila, Philippines
Solar Media Events
October 7, 2025
San Francisco Bay Area, USA
Solar Media Events
October 21, 2025
New York, USA
Solar Media Events
November 25, 2025
Warsaw, Poland