April 29 (Reuters) - Chinese solar panel maker Yingli Green
Energy Holding Co Ltd YGE.N said on Friday it was delaying
filing its annual report with U.S. regulators as it said it
needed more time to finalize its financial statements.
The solar company said it expects gross profit in 2015 to
have nearly halved due to lower production of solar panels.
The company it was delaying by 15 days filing its annual
report with the U.S. Securities and Exchange Commission and
expects to raise substantial doubt about its ability to continue
as a going concern in the filing.
The company had earlier flagged "going concern" doubts under
the risk factors section in its annual U.S. regulatory filing
last May.
Yingli later said that time the company's statement had been
taken out of context and it was confident of its ability to
service the global solar market and had taken substantive steps
related to its debt repayments.
The company said on Friday it needs more time to prepare and
review its financial statements to finalize assessment of
internal controls and other disclosures, including those related
to liquidity.
The company said 2015 net revenue is expected to have fallen
nearly 22 percent to 10 billion yuan ($1.54 billion)-10.2
billion yuan ($1.57 billion).
($1 = 6.4855 Chinese yuan renminbi)