The solar giant collective fall Yingli credit also been downgraded

 Energy Yingli Yingli Group company, which listed on the New York Stock Exchange in the United States in 2007, is now one of the world's largest manufacturers of solar street light products. Yingli Group also sponsored last two soccer World Cup, once the limelight.

 In the bond market, Yingli solar Modules in May of this year issued two medium-term notes, respectively, for "12 British Lee MTN1" "12 British Lee MTN2", time limit, respectively, for the 3-year, 5-year, issue amount, respectively, to 1.2 billion yuan, 3 billion, a total of 1.5 billion yuan, 600 million yuan of which was used to repay bank loans.

CCXI With the gradual deterioration of the operating environment, the Yingli solar light capacity utilization is significantly lower profitability dropped significantly, and losses; Days sales outstanding account was significantly prolonged deterioration in cash flow from operating activities, mobility in the downgrade aouncement Risk prominent.

The CCXI that, due to the rapid expansion of production capacity, Yingli large solar fan scale of investment and the scale of investment in the construction of the proposed project is still large, asset-liability ratio exists to further upward pressure. Yingli Energy's total assets as of the end of June this year, 24.71 billion yuan, 4.355 billion yuan of owner's equity, asset-liability ratio is as high as 82.37%.

 According to the disclosure, as of the end of September last year, Yingli solar charger supplier in construction in progress totaling 3.125 billion yuan, 3.067 billion yuan investment budget of the proposed project; These projects have been approved by the National Development and Reform Commission and other departments.

PV industry Neiwaijiaokun

 In fact, with the solar inverter manufacturers as a whole into the "winter", in addition to the photovoltaic business was downgraded recently, some photovoltaic giant also introduced a large-scale layoff plans.

 PV giant is why collective fall? A solar cell outlook report in good faith with the latest inteational severely affected due to changes in the policy environment and the impact of the European debt crisis, the PV industry needs; caused by the large-scale outbreak of the early industry overcapacity led to declining PV prices, industry consolidation The clues appear, therefore, industry outlook negative.