Yingli again faces prospect of NYSE delisting

Yingli

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. 

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.