Tuesday October 28, 5:00 am ET
BAODING, China--(BUSINESS WIRE)--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 announced that it has entered into a memorandum of understanding (the "MOU") with TÜV Rheinland (Shanghai) Co., Ltd. ("TÜV Rheinland") to form a strategic partnership covering a range of quality control initiatives at the Company. Under the proposed strategic partnership, TÜV Rheinland would conduct periodic factory inspections to review production, testing and calibration procedures and assist Yingli Green Energy in certification planning and execution to support new product introductions. In addition, Yingli Green Energy and TÜV Rheinland intend to develop and implement technical training programs for Yingli Green Energy employees.
"We are pleased to announce our intention to develop a long-term strategic partnership with TÜV Rheinland," said Mr. Liansheng Miao, Chairman and CEO of Yingli Green Energy. "Yingli strongly believes that product quality is the fundamental foundation for creating sustainable customer satisfaction and loyalty, which we believe will continue to be one of the primary drivers of our success in terms of building a strong brand, achieving solid financial results and creating shareholder value. To support our aspirations to be a world-leading manufacturer of high-quality PV products we recognize the need to work with world experts to improve our quality standards and controls and we have selected TÜV Rheinland as our strategic partner."
"We appreciate Yingli's objective to enhance their quality standards and controls," said Mr. Gerhard Luebken, Managing Director of TÜV Rheinland Shanghai, "We are pleased to support Yingli in achieving their product quality aims by developing and delivering a range of services in cooperation with Yingli."
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 by mid-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 www.yinglisolar.com.
Showing posts with label polysilicon ingot. Show all posts
Showing posts with label polysilicon ingot. Show all posts
Wednesday, October 29, 2008
Sunday, September 28, 2008
Yingli Green Energy Announces Business Update
Signs 36.8 MW PV Module Sales Contract with S.A.G. Solarstrom AG -- Expands Manufacturing Capacity to 400 MW -- Reaffirms Plan to Reach 600 MW of Manufacturing Capacity by Mid-2009
BAODING, China, Sep 26, 2008 (BUSINESS WIRE) -- 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 announces that the Company has signed a 36.8 MW PV module sales contract with S.A.G. Solarstrom AG ("S.A.G.") and that it has completed the installation and trial production of an additional 200 MW of annual manufacturing capacity of each of PV polysilicon ingots and wafers, PV cells and PV modules.
36.8 MW Sales Contract with S.A.G.
Yingli Green Energy has entered into a sales contract with S.A.G. , one of the leading manufacturers, independent developers and system integrators in the solar power and solar investment market in Europe. Under the terms of the contract, Yingli Green Energy will supply 36.8 MW of PV modules to S.A.G. from December 2008 to December 2009.
"We initiated our relationship with Yingli Green Energy with a 5 MW contract in 2005, and we are happy to expand our cooperation with this larger agreement," stated Dr. Karl Kuhlmann, CEO of S.A.G.. "The majority of the PV modules to be delivered under this contract are expected to be installed in projects in Germany and other countries in Europe. Given our long history of cooperation, we have developed a solid relationship and mutual trust. Our utmost priority is the sound operating performance of our customers' systems, so we believe that it is essential to source PV products that guarantee system performance. Yingli's brand and high quality products match all of our needs."
"We are pleased to sign this major contract with S.A.G.," commented Mr. Liansheng Miao, Chairman and CEO of Yingli Green Energy. "The shipment volume under this contract is larger than the total volume we shipped to S.A.G. over the past three years combined. We are pleased to see increasing demand from customers such as S.A.G, and we believe this is one of many positive signals coming out of Germany that indicate a continuation of a strong market in 2009."
Expands Manufacturing Capacity to 400 MW and Reaffirms Plan to Reach 600 MW of Manufacturing Capacity by Mid-2009
Yingli Green Energy successfully completed the installation and trial production of an additional 200 MW of annual manufacturing capacity of each of PV polysilicon ingots and wafers, PV cells and PV modules. The completion comes ahead of the previously announced target of the end of 2008.
"We are pleased to achieve another significant milestone in the history of our company's growth," said Mr. Liansheng Miao. "As a result of solid relationships with equipment suppliers and a concerted effort by our entire team, we are pleased to have reached 400MW of annual manufacturing capacity ahead of schedule. In addition, I am also delighted to confirm that our plan to construct an additional 200MW of annual manufacturing capacity is on track to be completed by mid-2009. Furthermore, we have now contracted substantially all of our estimated PV module output for the remainder of 2008 and have secured more than 90% of our estimated polysilicon requirements for 2008."
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. Yingli Green Energy currently plans to expand annual production capacity of polysilicon ingots and wafers, PV cells and PV modules to 600 MW by mid-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 www.yinglisolar.com.
BAODING, China, Sep 26, 2008 (BUSINESS WIRE) -- 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 announces that the Company has signed a 36.8 MW PV module sales contract with S.A.G. Solarstrom AG ("S.A.G.") and that it has completed the installation and trial production of an additional 200 MW of annual manufacturing capacity of each of PV polysilicon ingots and wafers, PV cells and PV modules.
36.8 MW Sales Contract with S.A.G.
Yingli Green Energy has entered into a sales contract with S.A.G. , one of the leading manufacturers, independent developers and system integrators in the solar power and solar investment market in Europe. Under the terms of the contract, Yingli Green Energy will supply 36.8 MW of PV modules to S.A.G. from December 2008 to December 2009.
"We initiated our relationship with Yingli Green Energy with a 5 MW contract in 2005, and we are happy to expand our cooperation with this larger agreement," stated Dr. Karl Kuhlmann, CEO of S.A.G.. "The majority of the PV modules to be delivered under this contract are expected to be installed in projects in Germany and other countries in Europe. Given our long history of cooperation, we have developed a solid relationship and mutual trust. Our utmost priority is the sound operating performance of our customers' systems, so we believe that it is essential to source PV products that guarantee system performance. Yingli's brand and high quality products match all of our needs."
"We are pleased to sign this major contract with S.A.G.," commented Mr. Liansheng Miao, Chairman and CEO of Yingli Green Energy. "The shipment volume under this contract is larger than the total volume we shipped to S.A.G. over the past three years combined. We are pleased to see increasing demand from customers such as S.A.G, and we believe this is one of many positive signals coming out of Germany that indicate a continuation of a strong market in 2009."
Expands Manufacturing Capacity to 400 MW and Reaffirms Plan to Reach 600 MW of Manufacturing Capacity by Mid-2009
Yingli Green Energy successfully completed the installation and trial production of an additional 200 MW of annual manufacturing capacity of each of PV polysilicon ingots and wafers, PV cells and PV modules. The completion comes ahead of the previously announced target of the end of 2008.
"We are pleased to achieve another significant milestone in the history of our company's growth," said Mr. Liansheng Miao. "As a result of solid relationships with equipment suppliers and a concerted effort by our entire team, we are pleased to have reached 400MW of annual manufacturing capacity ahead of schedule. In addition, I am also delighted to confirm that our plan to construct an additional 200MW of annual manufacturing capacity is on track to be completed by mid-2009. Furthermore, we have now contracted substantially all of our estimated PV module output for the remainder of 2008 and have secured more than 90% of our estimated polysilicon requirements for 2008."
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. Yingli Green Energy currently plans to expand annual production capacity of polysilicon ingots and wafers, PV cells and PV modules to 600 MW by mid-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 www.yinglisolar.com.
Wednesday, February 20, 2008
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.
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.
Thursday, November 29, 2007
Yingli Green Energy Announces Three Polysilicon Purchase Contracts
BAODING, China--(BUSINESS WIRE)--Yingli Green Energy Holding Company Limited (NYSE:YGE) ("Yingli Green Energy" or the "Company"), one of the leading vertically integrated photovoltaic (PV) product manufacturers in China, today announced it has signed three polysilicon contracts with a leading polysilicon manufacturer. The total amount of polysilicon to be supplied under the contracts will allow Yingli Green Energy to produce over 40 MW of PV modules over the life of the contracts. The delivery schedule for the polysilicon under the contracts has not been finalized. Based on the discussions of the parties with respect to the contracts, the Company currently expects the delivery of the polysilicon under the contracts to be completed by the end of the first quarter of 2008.
"We are delighted to have entered into these contracts which we expect will further strengthen our polysilicon supply for the near future," said Mr. Liansheng Miao, Chairman and Chief Executive Officer of Yingli Green Energy. "Actively seeking to further establish and strengthen our strategic relationships with our suppliers has been one of our key strategic initiatives and we will continue to aggressively pursue this strategic initiative at a time global polysilicon supply remains tight."
About Yingli Green Energy
Yingli Green Energy Holding Company Limited is one of the leading vertically integrated photovoltaic (PV) product manufacturers in China. 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 China. Additionally, Yingli Green Energy is one of the limited numbers of large-scale PV companies in China 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.
"We are delighted to have entered into these contracts which we expect will further strengthen our polysilicon supply for the near future," said Mr. Liansheng Miao, Chairman and Chief Executive Officer of Yingli Green Energy. "Actively seeking to further establish and strengthen our strategic relationships with our suppliers has been one of our key strategic initiatives and we will continue to aggressively pursue this strategic initiative at a time global polysilicon supply remains tight."
About Yingli Green Energy
Yingli Green Energy Holding Company Limited is one of the leading vertically integrated photovoltaic (PV) product manufacturers in China. 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 China. Additionally, Yingli Green Energy is one of the limited numbers of large-scale PV companies in China 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.
Saturday, September 29, 2007
Yingli Green Energy Contributes Additional Capital to Its Joint Venture
BAODING, China--(BUSINESS WIRE)--Yingli Green Energy Holding Company Limited (NYSE: YGE) ("Yingli Green Energy" or the "Company"), a leading vertically integrated photovoltaic ("PV") product manufacturer in China, today announced that it further amended the joint venture contract (the "Amendment") with Baoding Tianwei Baobian Electric Co., Ltd. ("Tianwei Baobian") under which Yingli Green Energy will contribute additional capital of RMB1,750,840,000 billion (equivalent of US$236.6 million at the exchange rate of RMB7.40 to US$1.00, as previously agreed upon by the Company and Tianwei Baobian) to its principal operating subsidiary in China, Baoding Tianwei Yingli New Energy Resources Co., Ltd. ("Tianwei Yingli").
As a result of the Amendment and Ying Green Energy's additional capital contribution upon approval of the relevant PRC governmental authorities:
1. The registered capital of Tianwei Yingli will increase from RMB1,624,380,000 to RMB3,375,220,000;
2. Yingli Green Energy's equity interest in Tianwei Yingli will increase from 70.11% to 74.01%; and
3. The equity interest of Tianwei Baobian in Tianwei Yingli will correspondingly decrease from 29.89% to 25.99%.
As an intermediary step in anticipation of this additional capital contribution, the Company had advanced part of the proceeds it received from its initial public offering completed in June 2007, in an aggregate amount of US$230.0 million, into Tianwei Yingli in the form of shareholder loans, which will be converted into part of the additional capital contribution contemplated under the Amendment as described above. The balance of the additional capital contribution will be made by the Company within 60 days of approval by the relevant PRC governmental authorities.
About Yingli Green Energy
Yingli Green Energy Holding Company Limited ("Yingli Green Energy") is one of the leading vertically integrated photovoltaic ("PV") product manufacturers in China. 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 China. Additionally, Yingli Green Energy is one of the limited number of large-scale PV companies in China 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 megawatts by 2010. 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, China and the United States.
As a result of the Amendment and Ying Green Energy's additional capital contribution upon approval of the relevant PRC governmental authorities:
1. The registered capital of Tianwei Yingli will increase from RMB1,624,380,000 to RMB3,375,220,000;
2. Yingli Green Energy's equity interest in Tianwei Yingli will increase from 70.11% to 74.01%; and
3. The equity interest of Tianwei Baobian in Tianwei Yingli will correspondingly decrease from 29.89% to 25.99%.
As an intermediary step in anticipation of this additional capital contribution, the Company had advanced part of the proceeds it received from its initial public offering completed in June 2007, in an aggregate amount of US$230.0 million, into Tianwei Yingli in the form of shareholder loans, which will be converted into part of the additional capital contribution contemplated under the Amendment as described above. The balance of the additional capital contribution will be made by the Company within 60 days of approval by the relevant PRC governmental authorities.
About Yingli Green Energy
Yingli Green Energy Holding Company Limited ("Yingli Green Energy") is one of the leading vertically integrated photovoltaic ("PV") product manufacturers in China. 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 China. Additionally, Yingli Green Energy is one of the limited number of large-scale PV companies in China 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 megawatts by 2010. 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, China and the United States.
Tuesday, September 25, 2007
Yingli Green Energy Added to NASDAQ Clean Edge U.S. Indexes
BAODING, China--(BUSINESS WIRE)--Yingli Green Energy Holding Company Limited (NYSE: YGE) ("Yingli Green Energy" or the "Company"), a leading vertically integrated photovoltaic ("PV") product manufacturer in China, today announced that it will be added to the NASDAQ Clean Edge U.S. Index (Nasdaq: CLEN) and the NASDAQ Clean Edge U.S. Liquid Series Index (Nasdaq: CELS) (the "Indexes"), effective with the market open on Monday, September 24, 2007.
Mr. Bryan Li, Chief Financial Officer of Yingli Green Energy, commented, "As a leading vertically integrated PV manufacturer in China, we have always been dedicated to the promotion of clean and sustainable energy and we are very honored to be added to the NASDAQ Clean Edge U.S. Index and the NASDAQ Clean Edge U.S. Liquid Series Index. We hope the Indexes will help further strengthen the development of the whole alternative energy industry."
According to NASDAQ's press release on semi-annual changes to the NASDAQ Clean Edge U.S. Indexes dated September 17, 2007, the Indexes are designed to track the performance of clean-energy companies that are publicly traded in the U.S. The Indexes include companies engaged in the manufacturing, development, distribution, and installation of emerging clean-energy technologies such as solar photovoltaics, biofuels and advanced batteries. The five major sub-sectors that the Indexes cover are Renewable Electricity Generation, Renewable Fuels, Energy Storage & Conversion, Energy Intelligence and Advanced Energy-Related Materials.
About Yingli Green Energy
Yingli Green Energy Holding Company Limited ("Yingli Green Energy") is one of the leading vertically integrated photovoltaic ("PV") product manufacturers in China. 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 China.
Additionally, Yingli Green Energy is one of the limited number of large-scale PV companies in China 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 megawatts by 2010. 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, China and the United States.
Mr. Bryan Li, Chief Financial Officer of Yingli Green Energy, commented, "As a leading vertically integrated PV manufacturer in China, we have always been dedicated to the promotion of clean and sustainable energy and we are very honored to be added to the NASDAQ Clean Edge U.S. Index and the NASDAQ Clean Edge U.S. Liquid Series Index. We hope the Indexes will help further strengthen the development of the whole alternative energy industry."
According to NASDAQ's press release on semi-annual changes to the NASDAQ Clean Edge U.S. Indexes dated September 17, 2007, the Indexes are designed to track the performance of clean-energy companies that are publicly traded in the U.S. The Indexes include companies engaged in the manufacturing, development, distribution, and installation of emerging clean-energy technologies such as solar photovoltaics, biofuels and advanced batteries. The five major sub-sectors that the Indexes cover are Renewable Electricity Generation, Renewable Fuels, Energy Storage & Conversion, Energy Intelligence and Advanced Energy-Related Materials.
About Yingli Green Energy
Yingli Green Energy Holding Company Limited ("Yingli Green Energy") is one of the leading vertically integrated photovoltaic ("PV") product manufacturers in China. 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 China.
Additionally, Yingli Green Energy is one of the limited number of large-scale PV companies in China 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 megawatts by 2010. 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, China and the United States.
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