Yingli's preliminary Q2 results showing positive signs

China’s Yingli Green Energy likely surpassed its guidance for PV module shipments in the second quarter, but expects to post a slightly lower gross margin than in the preceding three-month period.

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The debt-riddled manufacturer says it shipped 630MW to 660MW of solar panels in the three months to June 30, above its initial guidance of 580MW to 620MW, according to an online statement.

However, it expects to post a gross margin of 17%-19% — down from the first three months of 2016 and slightly below its guidance — due to a quarter-on-quarter decline in the average selling price (ASP) of its solar panels.

The Baoding-based supplier attributed the lower gross margin to the higher proportion of modules it shipped in the second quarter to the Chinese market, where ASPs are broadly lower than in other global solar markets.

However, the company claims that it remained on a “positive” growth track throughout the second quarter, with an anticipated net profit margin of 2.5% to 3.5%, based on preliminary results.

Yingli — which will likely be less reliant on Chinese demand in the third quarter, as the pace of project development in the country slows in the final six months of the year — plans to release its unaudited second-quarter results on August 23.??

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