Taiflex Scientific Co. Ltd.
TAIFLEX: Declaration of Taiflex Scientific co., Ltd.
Press Release May 21th, 2015 Declaration of Taiflex Scientific co., Ltd. Yingli Green Energy Holding (hereinafter referred to as Yingli Group) is the customer of Taiflex Scientific Co., Ltd. (hereinafter referred to as Taiflex), some media reports that Yingli Group has the doubt of going concern risk, Taiflex declared as follows: 1. Taiflex has continuous observation and analysis to the financial situation of PV customers in China for a long time. Since 2014, Taiflex has deliberately controlled the Yingli Group’s shipment, and meanwhile adjusted the customer structure, diversified the customers’ composition, and strived to reduce Taiflex’s operating risk caused by single customer, the strategy has shown an obvious effect. 2. Taiflex’s accounts receivable balance for Yingli Group is approximately RMB 90 million dollars. Because of Yingli Group is still in normal operation, and continuous repay, there is no immediately impact on Taiflex. Taiflex has been recognizing a reasonable allowance for bad debts for account receivable of all customers (including Yingli Group) and part of account receivable for Yingli Group has export insurance, so there is no significant impact on the financial and business of Taiflex. Above, specifically stated. About Taiflex Scientific co., Ltd. (8039) (“Taiflex”) For further information, please contact: NOTICE TO RECIPIENT: End of Press Release +++++ Document: http://n.equitystory.com/c/fncls.ssp?u=YKAFDQKAIS Document title: TAIFLEX: Declaration of Taiflex Scientific co., Ltd. Key word(s): Miscellaneous 21/05/2015 UTC+8 Dissemination of a Press Release, transmitted by EQS TodayIR – a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. Media archive at www.todayir.com |
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