The solar energy company announced the start of production of monocrystalline silicon modules with N-type Metal-Wrap-Through, or "N-MWT," technology with assistance from Formula E s.r.l. Forumla designed and produced manufacturing equipment, which was installed in one of Yingli's module workshops, as part of the two companies' strategic collaboration agreement.
N-MWT technology "reduces power loss in the module encapsulation process and improves cell efficiency by reducing the amount of metal applied to each solar cell, which exposes more of the solar cell's surface area to sunlight than with traditional monocrystalline technologies," Yingli said in a statement.
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The stock was up 8.92% to $3.42 at 10:46 a.m.
Separately, TheStreet Ratings team rates YINGLI GREEN ENERGY HLDGS CO as a "sell" with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:
"We rate YINGLI GREEN ENERGY HLDGS CO (YGE) a SELL. This is driven by a few notable weaknesses, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its generally high debt management risk, disappointing return on equity and poor profit margins."