Young’s China Business Blog Daily Newsletter: June 7

Jay Owen Greentech


NEW ENERGY: Yingli’s Shock Profit, Ming Yang Exit Nears

In a huge surprise to new energy stock watchers, nearly insolvent solar panel maker YIngli (NYSE: YGE) has suddenly announced its first quarterly profit since 2011, abruptly reversing years of massive losses. There’s no explanation for this sudden profit announcement, which comes in some preliminary results released ahead of an official conference call set for next week. Meantime, the more solvent wind power equipment specialist Ming Yang (NYSE: MY) is moving closer to New York exit door, with its announcement that shareholders have approved its plan to privatize as part of a broader wave of such de-listings by US-traded Chinese companies.

China News Digest: June 7, 2016 ???2016?6?7?: Bitauto, Tencent, Baidu,, Suning, Inter Milan, TCL, Yingli, Midea, Kuka,