Yingli preliminary Q3 financials hint at further earnings slump

Share

Yingli Green Energy, the vertically integrated Chinese tier-1 solar firm, has published today preliminary third quarter (Q3) financials that look set to confirm an expected slump in earnings and shipments.

In a short press release, the Chinese company revealed preliminary data that shows module shipments in the range of 360 MW to 370 MW, which is in line with Q2’s straitened guidance. Yingli’s domestic market of China vastly scaled back its solar installation efforts after Q2 following a sizable cut to its FIT in June, and such reduced shipment figures come as no real surprise.

However, while shipments were largely as expected, gross margin has tumbled way below guidance to 5% to 6% (6% to 7% for module sales). Yingli said that an inventory write-down in Q3 weighed on the firm’s books, while an increase in unit manufacturing costs was unavoidable due to the company’s low utilization rates.

Tumbling module prices globally have also played a significant part in eroding Yingli’s gross margin, which had been expected to come in at around 12.5% to 14%, as reported in Q2.

The full unaudited financial results will be released on Thursday, December 8, Yingli confirmed.

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: editors@pv-magazine.com.

Popular content

Rooftop PV installations could raise daytime temperatures in urban environments by up to 1.5 C

09 October 2024 New research from India shows that rooftop PV system may have "unintended" consequences on temperartures in urban environments. Rooftop arrays, for ex...

Share

Leave a Reply

Please be mindful of our community standards.

Your email address will not be published. Required fields are marked *

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.