This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Yingli Green Energy Announces Preliminary Financial Results For Third Quarter 2012

BAODING, China, Nov. 16, 2012 /PRNewswire-FirstCall/ -- Yingli Green Energy Holding Company Limited (NYSE: YGE) ("Yingli Green Energy" or the "Company"), a leading solar energy company and one of the world's largest vertically integrated photovoltaic ("PV") manufacturers, which markets its products under the brand " Yingli Solar", today announced its preliminary financial results for the quarter ended September 30, 2012.

(Logo: http://www.prnasia.com/sa/2012/04/01/20120401160439160364.jpg )

Based on preliminary data, the Company currently expects its module shipment in the third quarter of 2012 to decrease by approximately17% from the second quarter. The Company also expects to recognize non-cash charges of an inventory provision and a depreciation expense that related to underutilized capacity which occurred in the third quarter of 2012. In addition, according to the final rulings by the United States International Trade Commission regarding the import of Chinese PV cells and modules to the U.S., the Company expects to reverse the preliminary countervailing and anti-dumping duties provision recognized in the first quarter of 2012. As a result, the Company expects its gross margin in the third quarter of 2012 to be in the range of negative 22% to 24%. Excluding the impact of the non-cash charges and the reversal of duties provision mentioned above, the Company expects its gross margin of PV modules in the third quarter of 2012 to be in the range of 0% to 1%.

"Despite the sequential decrease of module shipment and declining PV module selling prices as we expected due to supply-demand imbalance, we are inspired that our industry leadership continues to be solidified as we quickly expand our market share," said Mr. Bryan Li, Executive Director and Chief Financial Officer of Yingli Green Energy. "In addition, we worked strategically with well-established suppliers and adopted new manufacturing techniques to further improve our cost structure, which has helped and is expected to continue to help us offset the negative impact of the expected decline in PV module price. We are confident that the tireless efforts of all our employees and partners will enable us to bring our non-silicon processing cost down to below US$0.50 per watt by the end of this year."

The Company will hold a conference call and live webcast to discuss its unaudited financial results for the quarter ended September 30, 2012 at 8:00 AM Eastern Standard Time on November 28, 2012, which corresponds to 9:00 PM Beijing/ Hong Kong time on the same day.



1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 17,826.30 -279.47 -1.54%
S&P 500 2,081.18 -23.81 -1.13%
NASDAQ 4,931.8150 -75.9760 -1.52%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs