Yingli’s revenue and shipment dropped significantly

Chinese solar panel manufacturer Yingli Green Energy Holding Company Limited achieved total net revenues of RMB 1,238.3 million ($179.9 million) in the first quarter 2017, compared to RMB 2,041.4 million in the fourth quarter of 2016 and RMB 2,351.1 million in the first quarter of 2016. Total PV module shipments were 370.9 MW, compared to 635.1 MW in the fourth quarter of 2016 and 508.1 MW in the first quarter of 2016.
According to Yingli, the decrease of total net revenues from the fourth quarter of 2016 to the first quarter of 2017 was mainly due to the decrease of PV module shipments, primarily as a result of the traditional seasonality in China and the soft demand along with the reduction of feed-in-tariff in Japan, which were the company's largest two markets, and slightly decrease of average selling price for PV module worldwide. The decrease of revenues from the first quarter of 2016 to the first quarter of 2017 was mainly due to the decrease of PV module shipments, primarily as a result of the decrease of PV module shipments to Japan and U.S., as well as the general decline of average selling prices of PV module worldwide.
Operating loss was RMB 103.5 million ($15.0 million) in the first quarter of 2017, compared to operating income of RMB 186.4 million in the first quarter of 2016. Net loss was RMB 184.4 million ($26.8 million) in the first quarter of 2017, compared to net income of RMB 79.6 million in the first quarter of 2016. As of March 31, 2017, the Company had RMB 417.3 million ($60.6 million) in cash and cash equivalents, decreased from RMB 506.6 million as of December 31, 2016.
The company expects its PV module shipments to be in the estimated range of 950 MW to 1,050 MW for the second quarter of 2017.
© PHOTON

Related News