Vertically integrated Chinese solar company Yingli Green Energy has issued preliminary second quarter (Q2) financial results that reveal a 50% drop in gross profit compared to the first quarter (Q1).
Overall sales are expected to generate a gross profit margin of between 6-7%, down from 14.1% in Q1, continuing a trend of falling profits despite increased module shipments.
The scant data published by the Tier-1 solar company revealed that module shipments for Q2 will be in the range of 720 730 MW, with a decreased average selling price (ASP) for its modules, allied to increased shipments in lower-cost China, serving to have a negative effect on the companys bottom line.
In June, Yingli forecast annual module shipments to reach around 3.6 GW a target for which the company is still on course.
Yingli will report its official Q2 figures on September 8, along with revised guidance for the remainder of the year.
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.