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5.2.2008: Meldung: Yingli Announces Completion of Contribution to Its Joint Venture
Yingli Green Energy Holding Company Limited, one of the world’s leading vertically integrated photovoltaic (“PV”) product manufacturers, today announced that it has obtained approval from the relevant PRC governmental authorities allowing the Company to complete its planned additional capital contribution in its principal operating subsidiary in China, Baoding Tianwei Yingli New Energy Resources Co., Ltd. (“Tianwei Yingli”).
Pursuant to the terms of its joint venture contract with Baoding Tianwei Baobian Electric Co., Ltd. (“Tianwei Baobian”), Yingli Green Energy has contributed additional capital of RMB 1,750,840,000 (equivalent of US$236.6 million at the agreed exchange rate of RMB 7.40 to US$1.00). As a result of the additional capital contribution:
1. The registered capital of Tianwei Yingli has increased from RMB 1,624,380,000 to RMB 3,375,220,000;
2. Yingli Green Energy’s equity interest in Tianwei Yingli has increased from 70.11% to 74.01%; and
3. The equity interest of Tianwei Baobian in Tianwei Yingli has correspondingly decreased from 29.89% to 25.99%.
The additional capital contribution was made primarily from proceeds the Company received from its initial public offering completed in June 2007.
About Yingli Green Energy
Yingli Green Energy Holding Company Limited is one of the world’s leading vertically integrated photovoltaic (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 China as measured by annual production capacity. Additionally, Yingli Green Energy is one of the limited numbers 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.
Contact:
Yingli Green Energy Holding Company Limited
Qing Miao, + 86 312 3100502
Director, Investor Relations
[email protected]
Pursuant to the terms of its joint venture contract with Baoding Tianwei Baobian Electric Co., Ltd. (“Tianwei Baobian”), Yingli Green Energy has contributed additional capital of RMB 1,750,840,000 (equivalent of US$236.6 million at the agreed exchange rate of RMB 7.40 to US$1.00). As a result of the additional capital contribution:
1. The registered capital of Tianwei Yingli has increased from RMB 1,624,380,000 to RMB 3,375,220,000;
2. Yingli Green Energy’s equity interest in Tianwei Yingli has increased from 70.11% to 74.01%; and
3. The equity interest of Tianwei Baobian in Tianwei Yingli has correspondingly decreased from 29.89% to 25.99%.
The additional capital contribution was made primarily from proceeds the Company received from its initial public offering completed in June 2007.
About Yingli Green Energy
Yingli Green Energy Holding Company Limited is one of the world’s leading vertically integrated photovoltaic (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 China as measured by annual production capacity. Additionally, Yingli Green Energy is one of the limited numbers 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.
Contact:
Yingli Green Energy Holding Company Limited
Qing Miao, + 86 312 3100502
Director, Investor Relations
[email protected]