BAODING, China — Yingli has received a notice on August 13, 2015 from the New York Stock Exchange (the “NYSE”) that the Company was not in compliance with the NYSE’s price criteria for continued listing standard because, as of August 12, 2015, the average closing price of the Company’s American Depositary Shares, or ADSs, was less than $1.00 per ADS over a consecutive 30 trading-day period.
Pursuant to Section 802.01C of the NYSE’s Listed Company Manual, the Company has six months (“the Cure Period”) following receipt of the notice to regain compliance with the minimum share price requirement.
The Company can regain compliance during the Cure Period if the Company’s ADSs have a closing share price of at least $1.00 per ADS on the last trading day of any calendar month during the period and also have an average closing price of at least $1.00 per ADS over the 30 trading-day period ending on the last trading day of that month. The Company can also regain compliance if at the expiration of the six-month Cure Period, both a $1.00 or above closing price per ADS on the last trading day of the Cure Period and a $1.00 or above average closing price per ADS over the 30 trading-day period ending on the last trading day of the Cure Period are attained.
As required by the NYSE rules, the Company expects to notify the NYSE of its intent to cure its ADSs’ price deficiency within the applicable time period required by the NYSE.
During the Cure Period, the Company’s ADSs will continue to be listed and traded on the NYSE, subject to its compliance with other NYSE continued listing criteria. The Company’s business operations, its U.S. Securities and Exchange Commission reporting requirements, credit agreements and other contractual obligations are currently unaffected by the notice from NYSE.