Yingli Solar’s Struggles Continue

Background image: FelixMittermeier

Yingli Green Energy Holdings, more commonly known as Yingli Solar, was delisted from the New York Stock Exchange last week. 

The company announced late last week the NYSE had informed the company it was to commence proceedings to delist the company. The decision was triggered by Yingli being unable to maintain an average global market capitalization of at least USD $50 million over a consecutive 30 trading-day period and its stockholders’ equity was less than $50,000,000.

Yingli Green Energy told the NYSE that it didn’t intend to appeal the delisting determination and subsequently, the NYSE suspended trading in the company’s American Depositary Shares effective from June 29.

The company began trading on the OTC Pink¹ on July 2, 2018, under the symbol YGEHY.

” The Company will remain subject to the public reporting requirements of the SEC as applicable to foreign private issuers following the transition and the Company expects to continue to comply with such requirements,” said a statement from Yingli last week. ” However, the Company plans to cease issuing quarterly earnings releases on a regular basis after the transition.”

The company’s ongoing woes don’t mean Yingli solar panels will suddenly stop working or performing badly, however, it does raise concerns about warranty issues should the company disappear. Ronald discusses such situations in his post: The Solar Panel Warranty Paradox.

Yingli began providing flags a few years ago indicating a cloudy future. For example, back in 2015, the company warned:

“Facts and circumstances including recurring losses, negative working capital, net cash outflows, and uncertainties on the repayment of the debts raise substantial doubt about our ability to continue as a going concern.”

But still, it has battled on.

Yingli solar panels were at one stage reasonably popular in Australia. Our Yingli solar panel reviews, contributed by Australians that have had the panels installed for at least 12 months, have been favourable – but we haven’t seen any added since 2016. However, it provides a little comfort for those with Yingli solar panels that their modules should continue operating reliably.

While Yingli may not be so great on the business side of things, the general consensus is they produce pretty good panels. It was noted as a top performer in DNV-GL’s 2018 Scorecard.

The company still lists an office in Australia.