Yingli again faces prospect of NYSE delisting


The Chinese PV module supplier has 90 days to regain compliance with the listing standards of the New York Stock Exchange, according to a letter it received last week from the market regulator.

Its average market capitalization has remained below $50 million for more than 30 straight trading days, which is the NYSE’s minimum listing requirement.

The warning comes slightly more than a year after the company  regained compliance with NYSE listing standards via a 10-to-1 reverse stock split.

It was given a six-month delisting notice in late August 2015 after its American Depositary Shares (ADS) failed to trade above the NYSE's minimum $1 price threshold for 30 straight trading days.

Yingli Green Energy Holding — one of the world’s leading solar panel manufacturers — now has 90 days to present a plan to the NYSE to show how it intends to regain compliance within a period of 18 months. 

If the Baoding-based company’s plan is accepted by the regulator, it will undergo quarterly assessments for an undisclosed period, but its ADS will remain listed. 

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If the regulator rejects its plan, the NYSE will commence delisting procedures.

Yingli said its stock may continue to trade on the over-the-counter market if it is dropped by the NYSE.

The company has struggled over the past year, with third-quarter revenues slumping roughly 42.4% from the preceding three-month period to $218.9 million, partly due to weak demand in China.

It expects to ship 600 MW to 670 MW of PV modules in the fourth quarter.

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