Yingli Green Energy forms special committee for resolution of debt issues

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The ailing module manufacturer, which was last month threatened with delisting from the New York Stock Exchange, is forming the committee with the ultimate of aim of resolving debt repayment issues faced by its principal subsidiaries.

The committee will evaluate Yingli’s financial situation and develop one more strategies or financing plans that could improve the company’s standings.

Yingli has not set a timetable for the committee to complete provide recommendations, nor has it given any guarantee that the board of directors will authorize the pursuit of any alternative that is recommended.

After posting profits for 2 straight quarters, the first it had seen since 2011, amid the Chinese installation rush in 2016, the drop off in demand set in and Yingli’s losses passed US$50 million in the the third quarter of last year.

While the company has seen better stability with its activities in Japan, this was not enough to balance the drop in demand from China. CEO Liansheng Miao previously stated that Yingli would focus on efficiency improvements and participation in the Chinese government’s Top Runner program, however with the appointment of the special a new strategy could quickly emerge.