Based on its preliminary results, the Chinese photovoltaic module manufacturer has said it expects its Q3 to perform worse than originally anticipated. The reasons cited were the market conditions, estimated production capacity and expected customer demand.
Shipping targets have, as such, been revised down, from between 1.7 and 1.75 gigawatts (GW), to between 1.58 and 1.63 GW, thus representing a quarter-on-quarter percentage increase in the low, as opposed to the high, 20s.
In Q2 2011, the company reported both record shipping volumes and increases, having raised shipments by 36.6 percent from the first quarter of the year.
Yingli also expects to achieve a poor gross margin of between 10 to 11 percent, in comparison to a previously forecasted gross margin in the high teens.
Gross marign was also negatively affected in Q2 2011, with the company reporting that it had decreased down from 27.3 percent in Q1 and 33.5 percent in Q2 2010, to 22.1 percent in Q2 2011. "The decrease in gross margin quarter over quarter was primarily caused by the decline of average selling price," explained Yingli in a statement released at the time.
The company is scheduled to release its unaudited Q3 2011 financial results on November 23.
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: firstname.lastname@example.org.
By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.
Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.
You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.
Further information on data privacy can be found in our Data Protection Policy.