Another solar king dethroned by debt, Yingli fights to survive

September 07, 2015 10:49
Prices of solar panels have plunged. Photo: Yingli

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.

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