Hebei province-based Yingli Green Energy Holding Co, the world's biggest maker of solar panels by capacity, is shifting its focus to emerging economies and other new markets. It is also providing downsteam services to diversify its development.

"The downturn of an industry is inevitable, just like the chilly winter comes after a fruitful fall. It's a cycle of development," said Miao Liansheng, chairman and chief executive officer.

Miao said that the challenges facing Yingli and its industry counterparts had exposed production and managerial problems that needed to be solved.