Yingli Green: Overall Optimistic About And Confident In Ability To Continue

(RTTNews) - Yingli Green Energy Holding Company Limited (YGE), a Chinese solar panel manufacturer, also known as "Yingli Solar", Wednesday said that overall, it is optimistic about and confident in its ability to continue servicing the global solar market. The company feels well-positioned with its quality products and access to capital in order to take advantage of the current surge in solar demand.

The company was responding to recent media coverage on its ability as a going concern as disclosed in its annual report on Form 20-F for the year ended December 31, 2014 filed with the U. S. Securities and Exchange Commission (the "SEC") on May 15, 2015.

The company noted that while filing 2014 Annual Report with the SEC, it had stated 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.

Yingli Green said it 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, 2015.

Liansheng Miao, the chairman and chief executive officer, said, "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."