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Yingli Green Energy said that preliminary financial results for the fourth quarter and full year 2012 were better than expected, due to strong demand.
The company said that it expected PV module shipments in the fourth quarter of 2012 to increase by approximately 40% from the third quarter, significantly higher than its previous guidance of a low teen percentage increase from the third quarter of 2012.
As a result, full year 2012 PV module shipment are expected to reach approximately 2.3GW, significantly higher than the previous guidance of 2.1- 2.2 GW.
However, Yingli Green warned that it would be recognising a non-cash charge of inventory provision and be negatively impacted by a depreciation expense related to underutilised capacity.
As a result, Yingli Green expects its gross margin in the fourth quarter to be in the range of negative 8- 8.5%.