Yingli Green Energy Reaffirms Business Outlook for Fiscal Year 2009

Copyright 2008 PR Newswire. All Rights Reserved2008-12-05

BAODING, China, Dec. 5 /PRNewswire-Asia-FirstCall/ -- Yingli Green Energy Holding Company Limited ("Yingli Green Energy" or "the Company"), one of the world's leading vertically integrated photovoltaic ("PV") product manufacturers, today reaffirmed its business outlook for fiscal year 2009, as previously announced on the Company's earnings conference call on November 26, 2008, in response to certain recent news articles erroneously stating that the Company expected its total PV module shipments to reach 400 megawatts in 2009.

Based on current market and operating conditions, estimated production capacity and forecasted customer demand, as well as current exchange rates for the U.S. dollar, Euro and Renminbi, the Company estimates that its total PV module shipments in 2009 will be approximately 550 MW to 600 MW, subject to, among other factors, the successful installation and ramp-up of the Company's additional 200 MW planned expansion in the third quarter of 2009.

In addition, after taking into consideration the several mid- to long-term virgin polysilicon supply agreements with leading global polysilicon suppliers which will start delivery at the beginning of 2009, estimated polysilicon prices in 2009, the negative impact of expected decreases in the average sales price of PV modules and further depreciation of the Euro versus U.S. dollar, the Company estimates that its gross margin in 2009 will be at least 24%.

About Yingli Green Energy

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 operate on a stand-alone basis. With 400 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 as measured by annual production capacity. Additionally, Yingli Green Energy is one of a limited number of large-scale PV companies in the world to have adopted a vertically integrated business model. Through its wholly owned subsidiary, Yingli Energy (China) Co., Ltd., Yingli Green Energy currently plans to expand annual production capacity of polysilicon ingots and wafers, PV cells and PV modules to 600 MW in the third quarter 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, South Korea, Belgium, France, China and the United States. For more information, please visit .