Yingli to increase production capacities
Post date: 11/06/2021 - 11:38
Solar panel manufacturer Yingli Energy (China) Co., Ltd. (Yingli Solar), subsidiary of Yingli Green Energy Holding Company,announced that by the end of 2021 the company is determined to significantly upgrade manufacturing by incorporating latest technologies. It will expand cell production capacity to 5 GW, while increase PV module production to 10 GW. Yingli Solar also aims to improve PV module production capacity to 15 GW within the next two years. In 2020, Yingli Solar has shipped 2 GW of modules globally while further investing funds into R&D.
The company's debt asset ratio has been reduced to 59.26 percent. According to Yingli, »this ratio is set to decrease further as additional capital injections are foreseen.« The debt owed to financial creditors »has all been converged to equity.« The investment platform owned by the local government has contributed $312.8 million. The company has also engaged with strategic investors who are willing to invest $625.6 million.
In April, the highly indebted company had announced a turnaround in corporate policy and the implemantation of a 2020 announced restructuring plan. Yingli was listed on the New York Stock Exchange until summer 2018, when trading was suspended because it could no longer meet the requirements.