Yingli Green Energy Holding Co. was, until last year, the world’s biggest solar panel firm by shipments.
But it has lost two-thirds of its market value this year, Bloomberg reported.
In May, Yingli acknowledged “substantial doubt” about whether it can stay afloat amid a pile of debt.
The firm, based in Baoding, Hebei province, will report second-quarter results Tuesday, and analysts are expecting a 16th consecutive loss.
It’s a familiar story in the solar business.
Yingli followed Suntech Power Holdings Co., another Chinese panel maker that held, and lost the top spot in the industry.
Before that, Germany’s Q-Cells SE held the No. 1 position.
Both went bankrupt, felled by debt and high costs in an industry where prices have plunged.
– Contact us at [email protected]