Yingli reports 360 MW-370 MW of prelim Q3 PV shipments
Nov 28, 2016 13:37 CET
November 28 – Chinese solar panel maker Yingli Green Energy (NYSE:YGE) said today that based on preliminary data its third-quarter (Q3) photovoltaic (PV) module shipments were in the range of 360 MW to 370 MW.
In August, the company made projections for Q3 PV module shipments of 300 MW to 400 MW.
Based on the management’s preliminary review of operations for the three-month period, Yingli’s overall gross margin was between 5% and 6%, while the gross margin from the sale of PV modules was in the range of 6% to 7%. This was lower than expected mainly because of an inventory provision and a rise in the unit manufacturing cost due to a lower utilisation rate of production capacity, the company explained in a statement.
Yingli previously guided for a Q3 gross margin at 12.5% to 14%.
The company plans to release its unaudited financial results for the third quarter on December 8, 2016.
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