Solar cell producer Yingli Green Energy finally has a reason to smile. The company has now emerged as the one bright spot in a solar cell industry that has been mostly plagued by darkness.

The rosy fourth quarter earnings numbers have indeed cheered Yingli Chairman Miao Liansheng. But his cup of joy truly overflowed when the long sowed seeds of a friendship transformed itself into a new venture.

Miao has recently teamed up with real estate developer Longjitaihe Industry Group to set up Lightway Green Energy Corporation for manufacture of photovoltaic solar systems.