BAODING, China, June 29, 2018 /PRNewswire/ -- Yingli Green Energy
Holding Company Ltd. ("Yingli Green Energy" or "the Company")
(NYSE:YGE), one of the world's leading solar panel manufacturers,
today announced that following notification from the New York Stock
Exchange ("NYSE") on June 28, 2018
that the NYSE had determined to commence proceedings to delist the
Company's American Depositary Shares (ADS) as it was not in
compliance with the continued listing standards set forth in
Section 802.01B of the NYSE Listed
Company Manual due to its failure to maintain an average global
market capitalization over a consecutive 30 trading-day period of
at least $50 million and its
stockholders' equity was less than $50,000,000, the Company informed the NYSE that
it does not intend to appeal the delisting determination.
Therefore, the NYSE suspended trading in the Company's ADS
effective immediately.
The NYSE stated that it will apply to the Securities and
Exchange Commission ("SEC") to delist the Company's ADSs. The
Company anticipates that its ADSs will begin trading on the OTC
Pink on July 2, 2018, under the
symbol "YGEHY". The Company expects transition of the
Company's ADSs to the OTC Pink marketplace will have no effect on
the legal rights of the holders of the Company's ADSs. The Company
expects the transition to the OTC Pink marketplace will not affect
the Company's normal business operations either. 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.
However, the Company plans to cease issuing quarterly earnings
releases on a regular basis after the transition.
About Yingli Green Energy
Yingli Green Energy Holding Company Limited (NYSE: YGE),
known as "Yingli Solar," is one of
the world's leading solar panel manufacturers. Yingli Green
Energy's manufacturing covers the photovoltaic value chain
from ingot casting and wafering through solar cell production and
solar panel assembly. Headquartered
in Baoding, China, Yingli Green Energy has more
than 20 regional subsidiaries and branch offices and has
distributed more than 20 GW solar panels to customers worldwide.
For more information, please visit www.yinglisolar.com and
join the conversation
on Facebook, Twitter and Weibo.
Safe Harbor Statement
This press release contains forward-looking statements. These
statements constitute "forward-looking" statements within the
meaning of Section 21E of the Securities Exchange Act of 1934, as
amended, and as defined in the U.S. Private Securities Litigation
Reform Act of 1995. These forward-looking statements can be
identified by terminology such as "will," "expects," "anticipates,"
"future," "intends," "plans," "believes," "estimates," "target" and
similar statements. Such statements are based upon management's
current expectations and current market and operating conditions,
and relate to events that involve known or unknown risks,
uncertainties and other factors, all of which are difficult to
predict and many of which are beyond Yingli Green Energy's control,
which may cause Yingli Green Energy's actual results, performance
or achievements to differ materially from those in the
forward-looking statements. Further information regarding these and
other risks, uncertainties or factors is included in Yingli Green
Energy's filings with the U.S. Securities and Exchange Commission.
Yingli Green Energy does not undertake any obligation to update any
forward-looking statement as a result of new information, future
events or otherwise, except as required under applicable law.
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SOURCE Yingli Green Energy Holding Company Limited