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")
Taiflex was founded by professionals from ITRI (Industrial Technology Research Institute) and electronic materials industry on August 16,1997 in Kaohsiung. Its primary production was flexible copper-cladded laminate for the flexible printed circuit industry and PV backsheet. Taiflex also aims to become a leader both in FCCL and PV backsheet manufacturer. For more information, please visit the company's website at www.taiflex.com.tw.
For further information, please contact:
Charles Chang
Investor Relations Dept.
Phone: +886-2-8773-5918
Email: Charles_Chang@taiflex.com.tw
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