Yingli Green Energy Announces Preliminary Financial Results for Third Quarter 2016
Yingli Green Energy Holding Company Limited, one of the world’s leading solar panel manufacturers, today announced that it plans to release its unaudited financial results for the third quarter ended September 30, 2016, before the U.S. market opens on Thursday, December 8, 2016.
Based upon preliminary data, the Company estimates that its PV module shipments in the third quarter of 2016 were in the range of 360MW to 370MW, which was within the range announced in the previous guidance. The Company estimates its overall gross margin in the third quarter of 2016 was 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%, which was lower than previous guidance mainly as a result of an inventory provision that is expected to be recorded in the third quarter and an increase in the unit manufacturing cost due to a lower utilization rate of production capacity.
These preliminary, unaudited third quarter results are based on management’s preliminary review of operations for the third quarter of 2016 and remain subject to change based on management’s ongoing review of the third quarter results.
In order to help investor learn more about its unaudited financial results for third quarter 2016, the Company will hold a corresponding conference call and live webcast to discuss the results at 8:00 AM Eastern Standard Time on December 8, 2016, which corresponds to 9:00 PM Beijing/Hong Kong time on the same day.