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Yingli Green Energy Announces Update in Relation to Medium-Term Notes

Baoding China - Yingli Green Energy Holding Company Limited announced that one of the holders (the "Note Holder") of the medium-term notes due May 12, 2016 (the "2011 MTNs") and medium-term notes due October 13, 2015 (the "2010 MTNs") issued by Baoding Tianwei Yingli New Energy Company Limited ("Tianwei Yingli"), a subsidiary of the Company, has filed a lawsuit against Tianwei Yingli in a PRC court to recover the amount due under such MTNs.

The principal amount of the MTNs held by the Note Holder is alleged to be RMB65.7 million, representing approximately 3.7% of the total amount of the 2011 MTNs and 2010 MTNs that are still outstanding. While the Company has endeavored to resolve the dispute with the Note Holder out of court, the Note Holder recently informed the Company that it plans to continue the legal proceeding in court. The Note Holder claimed that Tianwei Yingli should repay principal, interest and overdue penalty on the MTNs for an aggregate amount of RMB74.4 million and bear costs relating to the lawsuit.

Tianwei Yingli plans to vigorously defend its rights in court while continuing to seek a mutually beneficial solution out of court. Considering the amount claimed by the Note Holder, the Company does not expect this lawsuit to have any direct material impact on the Company's overall operation.

Source: IWR Online, 01 Sep 2017