Company Update (NYSE:YGE): Yingli Green Energy Holding Co Ltd (ADR) Plans to Restructure Repayment Plan for Mid-Term Notes Due in October 2015

Yingli Green Energy Holding Co Ltd (ADR) (NYSE:YGE), one of the world’s leading solar panel manufacturers, today announced that its holding subsidiary, Baoding Tianwei Yingli New Energy Company Limited (“Tianwei Yingli”), plans to restructure the repayment plan for $157 million USD (1.0 billion RMB) of mid-term notes (“MTNs”) due on October 13, 2015.

The MTNs were issued by Tianwei Yingli as five-year unsecured notes. The Company expects to receive approximately $138 million USD (875 million RMB) as the compensation (“the Compensation”) from the liquidation of idle land and demolition of facilities held by Fine Silicon, one of the Company’s wholly-owned subsidiaries. The Company believes it will be able to collect a substantial amount of the Compensation to partially repay the MTNs before the end of 2015. The remaining amount of the MTNs is expected to be repaid within one year, and will be collected from various financing sources, including the Company’s collection of accounts receivables.

“The Company has established good will with our major notes-holders through the successful repayment of our mid-term notes due this May, which amounted to $188 million USD, and we are closely communicating with the notes-holders again around this revised repayment plan,” commented Mr. Yiyu Wang, Chief Financial Officer of Yingli Green Energy. (Original Source)

Shares of Yingli Green Energy Holding closed yesterday at $0.33. YGE has a 1-year high of $3.32 and a 1-year low of $0.33. The stock’s 50-day moving average is $0.68 and its 200-day moving average is $1.25.

On the ratings front, YGE has been the subject of a number of recent research reports. In a report issued on September 10, Credit Suisse analyst Patrick Jobin maintained a Sell rating on YGE, with a price target of $0.75, which implies an upside of 128.4% from current levels. Separately, on September 9, Roth Capital’s Philip Shen downgraded the stock to Sell and has a price target of $0.50.

According to, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Patrick Jobin and Philip Shen have a total average return of -7.4% and -18.6% respectively. Jobin has a success rate of 32.1% and is ranked #3286 out of 3754 analysts, while Shen has a success rate of 20.9% and is ranked #3733.

The street is mostly Bearish on YGE stock. Out of 4 analysts who cover the stock, 3 suggest a Sell rating and one recommends to Hold the stock. The 12-month average price target assigned to the stock is $0.08, which reflects a potential downside of -75.6% from last closing price.

Yingli Green Energy Holding Co Ltd along with its subsidiaries is engaged in the design, development, marketing, manufacture, installation and sale of photovoltaic products in China & overseas market.

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