Yingli secures NYSE listing for 18 months

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on reddit
Reddit
Share on email
Email
Yingli has secured its NYSE listing for another 18 months but its quarterly results were underwhelming. Source: Yingli.

Yingli Green Energy has secured its listing on the NYSE for another 18 months after doing a deal with the exchange’s administrators.

The company had fallen out of compliance with the exchange’s conditions after its market capitalisation fell below US$50 million for 30 consecutive trading days.

Yingli also announced its first quarter results for 2017. It narrowly missed guidance on module shipments with an expectation that this will increase significantly in the next quarter.

“Mainly affected by 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,” said Liansheng Miao, chairman and CEO, Yingli Green Energy.

In a conference call to discuss the results the company warned that margins were likely to fall into the mid-single digits before they are able to recover.

The company’s previously reported precarious cash position deteriorated slightly to RMB417.3 million (US$60.6 million) from RMB506.6 million (US$74.3 million) at the end of the previous quarter.

Yingli has also confirmed that there has been no tangible progress for it to report in its negotiations with 2010 and 2011 bondholders.

Read Next

July 29, 2021
Tracker and racking provider Arctech has delivered SkySmart II tracking system to a 575MW agriculture-sharing solar project located in Nangong City, Hebei Province, China.
July 23, 2021
China could install up to 65GW of solar this year, driven largely by a surge in demand for distributed solar installations, while average solar deployment could reach 90GW per year in the years leading up to 2025.
July 16, 2021
Finlay Colville, head of market research at PV Tech Research, explores the critical themes behind the solar industry’s transition from p-type to n-type cell production before previewing PV CellTech Online 2021.
July 15, 2021
Legislation that would ban the import of all products from China’s Xinjiang region into the US has taken a critical step forward, passing the US Senate.
July 13, 2021
Solar PV capacity in Asia Pacific could triple to 1,500GW by 2030, with China driving deployment and Indonesia set to be the region’s fastest-growing market, according to Wood Mackenzie.
PV Tech Premium
June 25, 2021
Yesterday the US government ended months of speculation by enacting a withhold and release order (WRO) on solar imports to the US linked to specific polysilicon providers in China suspected of having used forced labour. Liam Stoker analyses what we know so far and, crucially, what the industry still needs to know before it can proceed.

Subscribe to Newsletter

Upcoming Events

Upcoming Webinars
August 19, 2021
At 9am (PT) | 6pm (CEST)
Solar Media Events
August 25, 2021
Solar Media Events
October 6, 2021
Solar Media Events
October 19, 2021
BRISTOL, UK