Yingli Green Energy Confirms 3rd Quarter Lull In Preliminary Q3 Results
China-based struggling solar manufacturer Yingli Green Energy, also known as Yingli Solar, has confirmed the anticipated lull in the solar industry it predicted back in the second quarter.
The latest solar manufacturer to make known its third quarter financials, Yingli Green Energy (Yingli Solar) has confirmed the large-scale slow-down of the industry that has been predicted for much of 2016. Yingli Solar, in its second quarter results published back in August, explained that the company expected “to face various challenges” during the second half of 2016, “such as the downward trend of average selling price of PV module as a result of increasing competition in various markets and higher anti-dumping and countervailing duty tariff in US” [sic]. This has been an issue played out across the solar market chain around the world, with solar manufacturers and developers in Asia and North America both suffering lackluster, or downright nasty, third quarters.
Yingli Solar is in the habit of publishing a preliminary finding prior to its official unaudited quarterly financials. Published on Monday, Yingli Solar revealed that it expects its solar PV shipments for the third quarter of 2016 to be in the range of 360 MW to 370 MW, in the middle range of what the company predicted for Q3 back in the second quarter. Yingli Solar further predicts it will report an overall gross margin in the range of 5% to 6%, while the gross margin from the sale of PV modules was in the range of 6% to 7%, lower than previous guidance had predicted, due mainly to “an inventory provision that is expected to be recorded in the third quarter and an increase in the manufacturing cost due to a lower utilisation rate of production capacity.”
Yingli Solar’s unaudited third quarter results are expected to be released before the US market opens on Thursday, December 8.
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