Yingli Green Energy Announces Preliminary Financial Results for First 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 first quarter ended March 31, 2016, before the U.S. market opens on Tuesday, June 14, 2016.
Based upon preliminary data, the Company estimates that its net income for the first quarter of 2016 turned into positive for the first time since the third quarter of 2011, with an estimated net margin of 2.5% to 4.5%. The Company estimates that its PV module shipments in the first quarter of 2016 were in the range of 500-510MW, which were at the high end of its previous guidance of 480 MW to 510 MW. The Company also estimates that its overall gross margin in the first quarter of 2016 was in the range of 18.5% to 20.5%, representing a significant increase from the fourth quarter of 2015, which was primarily due to the higher average selling price of the Company’s PV modules compared to the fourth quarter of 2015 mainly as a result of higher proportion of shipments to Japan, where the selling price of PV module generally is higher than that in other markets.
These preliminary first quarter results are based on the Company’s management’s preliminary review of operations for the first quarter of 2016 and remain subject to change based on the management’s ongoing review of the first quarter results.In order to help investor learn more about its unaudited financial results for the first 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 June 14, 2016, which corresponds to 8:00 PM Beijing/Hong Kong time on the same day.