Yingli Green Energy Reports Fourth Quarter and Full Year 2007 Financial Results

BAODING, China - Yingli Green Energy Holding Company Limited (NYSE: YGE) ("Yingli Green Energy" or the "Company"), one of the world's leading vertically integrated photovoltaic ("PV") product manufacturers, today announced its unaudited financial results for the fourth quarter and full year ended December 31, 2007.

Fourth Quarter 2007 Financial and Operating Highlights

Total net revenues were RMB 1,453.2 million (US$199.2 million), an increase of 13.8% from the third quarter of 2007 and an increase of 167.8% from the fourth quarter of 2006.

PV module shipments were 50.9 MW, an increase of 10.8% from 45.9 MW in the third quarter of 2007 and an increase of 215.8% from 16.1 MW in the fourth quarter of 2006.

Gross profit was RMB 359.6 million (US$49.3 million), an increase of 18.7% from the third quarter of 2007 and an increase of 187.9% from the fourth quarter of 2006.

Gross margin was 24.7% in the fourth quarter of 2007, an increase from 23.7% in the third quarter of 2007 and an increase from 23.0% in the fourth quarter of 2006.

Net income was RMB 138.4 million (US$19.0 million) and fully diluted earnings per ordinary share and per American depositary share ("ADS") were RMB 1.07 (US$0.15).

On an adjusted non-GAAP1 basis, net income was RMB 157.3 million (US$21.6 million) and fully diluted earnings per ordinary share and per ADS were RMB 1.21 (US$0.17).

Full Year 2007 Financial and Operating Highlights

Total net revenues for the full year 2007 were RMB 4,059.3 million (US$556.5 million), which exceeded the Company's guidance and represents a 147.7% increase from the combined2 year of 2006.

PV module shipments for the full year 2007 were 142.5 MW, which exceeded the Company's guidance and represents a 177.7% increase from 51.3 MW in the combined year of 2006.

Gross profit for the full year 2007 was RMB 956.8 million (US$131.2 million), representing a 111.6% increase from the combined year of 2006.

Net income for the full year 2007 was RMB 389.0 million (US$53.3 million) and fully diluted earnings per ordinary share and per ADS were RMB 2.89 (US$0.40) in 2007.

On an adjusted non-GAAP basis, net income for the full year 2007 was RMB 450.9 million (US$61.8 million) and fully diluted earnings per ordinary share and per ADS were RMB 3.42 (US$0.47).

"I am very pleased to announce our first full year results as a public company," commented Mr. Liansheng Miao, Chairman and Chief Executive Officer of Yingli Green Energy. "We had a great year in 2007. Our revenues continued to grow strongly in the fourth quarter and our overall results came in ahead of our expectations. I believe our impressive performance helps demonstrate our ability to successfully execute our strategies and sets a solid foundation for our future business development. Moreover, we successfully increased our total annual production capacity of each of polysilicon ingots and wafers, PV cells and PV modules to 200 MW in July 2007 and expect that we will reach our goal of 600 MW for each in 2009. In the fourth quarter of 2007, we successfully completed a convertible notes offering which we believe will financially support our capabilities to achieve our production expansion goal and to secure additional polysilicon supply. We were also selected by several leading global renewable energy companies to be one of their suppliers of choice. I believe our long-term commitment to superior product quality and our growing brand recognition have not only helped us expand our customer base, but have also been instrumental to our continued fast pace of growth."

Fourth Quarter 2007 Business Highlights

Entered into three polysilicon supply contracts with a leading polysilicon manufacturer in November 2007 that should allow the Company to produce over 40 MW of PV modules over the life of the contracts. The Company expects that the delivery of the polysilicon under the contracts will be completed by the end of the first quarter of 2008. Incorporated Yingli Energy (China) Company Ltd. ("Yingli China") in October 2007 to strengthen the Company's ability to effectively execute its strategies. Also incorporated Yingli Energy (Beijing) Co., Ltd. in November 2007 to advance the Company's strategic execution and development by taking advantage of Beijing's location and diversified professional talent and Yingli Green Energy Europe GmbH in Munich, Germany to further expand into the European PV market. Issued US$172.5 million zero coupon convertible senior notes due on December 15, 2012, in part to make an equity contribution of approximately US$100 million to Yingli China to fund part of its planned construction of 200 MW of production capacity for each of polysilicon ingots and wafers, PV cells and PV modules by the end of 2009. Ranked No. 9 in the "Deloitte Technology Fast 50 China 2007" published in October 2007. Recognized in the "Deloitte Technology Fast 500 Asia Pacific" published in December 2007, which names technology companies that have achieved the fastest rates of annual revenue growth in the Asia Pacific region during the past three years.

Yingli Green Energy Holding Company Limited

Yingli Green Energy Holding Company Limited is one of the world's leading vertically integrated PV product manufacturers. Through the Company's principal operating subsidiary in China, Baoding Tianwei Yingli New Energy Resources Co., Ltd., Yingli Green Energy designs, manufactures and sells PV modules and designs, assembles, sells and installs PV systems that are connected to an electricity transmission grid or those that operate on a stand-alone basis. With 200 MW of total annual production capacity in each of polysilicon ingots and wafers, PV cells and PV modules, Yingli Green Energy is currently one of the largest manufacturers of PV products in the world. Additionally, Yingli Green Energy is one of the limited number of large-scale PV companies in the world to have adopted vertical integration as its business model. Yingli Green Energy currently plans to gradually expand annual production capacity of polysilicon ingots and wafers, PV cells and PV modules to 400 MW by the end of 2008 and to 600 MW by the end of 2009. Yingli Green Energy sells PV modules under its own brand name, Yingli Solar, to PV system integrators and distributors located in various markets around the world, including Germany, Spain, Italy, China and the United States.