Yingli Green Energy Filed Extension for 2016 Form 20-F
Yingli Green Energy Holding Company Limited (NYSE: YGE) (“Yingli Green Energy” or the “Company”), one of the world’s leading solar panel manufacturers, known as “Yingli solar,” today announced that it has filed with the Securities and Exchange Commission a Form 12b-25 (the “Form 12b-25”) to extend by fifteen days the due date for filing its annual report on Form 20-F for the fiscal year ended December 31, 2016 (the “2016 Form 20-F”).
The Company is unable to file the 2016 Form 20-F on or before the prescribed due date of May 1, 2017 without unreasonable effort or expense, because the Company needs more time to prepare and review its consolidated financial statements as of and for the year ended December 31, 2016 and notes thereto, especially those related to the Company’s liquidity, debt restructuring and alternative financing plans as previously disclosed by the Company in its press release dated April 13, 2017.
The Company also needs more time to finalize assessment of its internal control over financial reporting and to finalize related disclosures in the Form 20-F. As disclosed in the Company’s press release dated April 13, 2017, there is substantial doubt as to the Company’s ability to continue as a going concern and the Company expects to disclose the same in the Form 20-F. The Company’s management expects that the 2016 Form 20-F will be filed on or before May 16, 2017.
About Yingli Green Energy
Yingli Green Energy Holding Company Limited (NYSE: YGE), known as “Yingli Solar” or “Yingli”, is one of the world’s leading solar panel manufacturers. Yingli’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 has more than 20 regional subsidiaries and branch offices and has distributed more than 17 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.
Forward-looking statements involve risks, uncertainties and other factors that could cause actual results to differ materially from those contained in any such 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.
Source:PRN
