Yingli Green Energy
Yingli Green Energy is a vertically integrated photovoltaic (PV) manufacturer that makes polysilicon wafers and ingots that it uses to create PV cells and modules, which it incorporates into solar energy systems that turn sunlight into clean energy. The company, with an annual production capacity of 200 megawatts of polysilicon ingots and wafers, 200 megawatts of PV cells, and 200 megawatts of PV modules, is one of the few companies in China involved in all stages of PV manufacturing, sales, and installation. Yingli Green Energy gets more than 90% of its sales in Europe, primarily from Germany and Spain.
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Yingli Green Energy to post disappointing first quarter shipments, gross margin
Yingli Green Energy (NYSE:YGE) said Wednesday that first quarter shipments and gross margin will come in significantly below the solar energy company's own expectations.
The China-based photovoltaic (PV) module manufacturer said the lower shipments are due to severe winter weather in Germany, and a recent policy change in Italy, as the government announced plans to reduce feed-in-tariffs for solar power systems in an effort to impede the overheating of its solar market.
The first notice of this change was announced in early March, but the finalized new policy was not released until last week, leading to uncertainties and delays in solar power projects.
Based on the preliminary data, the company said that it now expects shipments to decrease by a low-teen percentage from the fourth quarter of 2010. It previously anticipated that shipments in the first quarter would increase by mid-single digits quarter-over-quarter.
Yingli said it will deliver some of the delayed orders in the second quarter, and estimates that shipments during this period will increase by more than 30% over the first quarter.
In addition, the company also now expects lower gross margin in the range of 27% to 27.5%, versus prior guidance of between 30% to 31%.
However, the company re-affirmed its PV module shipment target for 2011, estimated in the range of 1,700 MW to 1,750 MW, representing an increase of up to 65% from a year earlier.
Full audited first quarter results will be announced on May 20, before the US market opens.
Other Yingli Green Energy news
- Yingli Green Energy beats Q2 estimates
2011-08-19 - Yingli Green Energy to second quarter profit
2010-08-20 - Yingli signs RMB1.2bn solar production agreement in Hainan province
2009-07-21 - Piper Jaffray reiterates "Buy" rating on Yingli Green Energy
2009-06-30 - Yingli Green Energy subsidiaries receive RMB420m loans
2009-03-07
