Yingli Green Energy Announces Preliminary Financial Results for Second Quarter 2016
Yingli Green Energy Holding Company Limited , one of the world’s leading solar panel manufacturers, known as “Yingli Solar,” recently announced that it plans to release its unaudited financial results for the second quarter ended June 30, 2016, before the U.S. market opens on Tuesday, August 23, 2016.
Based upon preliminary data, the Company expects to maintain a positive momentum into the second quarter of 2016, with an estimated net profit margin of 2.5% to 3.5% for the second quarter of 2016. The Company estimates that PV module shipments (including shipments to the Company’s own downstream PV projects) in the second quarter of 2016 were in the range of 630MW to 660MW, exceeding its previous guidance of 580MW to 620MW. The Company estimates that its overall gross margin for the second quarter of 2016 was in the range of 17%-19%, slightly decreased from the first quarter of 2016, which was mainly due to the lower average selling price of the Company’s PV modules in the second quarter of 2016 compared to the first quarter of 2016 primarily as a result of higher proportion of shipments to China in the second quarter of 2016, where the selling price of PV modules generally is lower than that in other markets.
These preliminary second quarter results are based on the Company’s management’s preliminary review of operations for the second quarter of 2016 and remain subject to change based on the management’s ongoing review of the second quarter results.
In order to help investor learn more about its unaudited financial results for the second quarter of 2016, the Company will hold a conference call and live webcast to discuss the results at 8:00 AM Eastern Daylight Time on August 23, 2016, which corresponds to 8:00 PM Beijing/Hong Kong time on the same day.