Yingli Green Energy has not altered its 2009 module shipment guidance, despite the global economic downturn and module oversupply in the solar industry. Yingli Green expects module shipments to be between 550MW-600MW in 2009. This represents an increase of 96.1% to 113.9% compared to fiscal year 2008.
However, the company said that gross margins would decline from 24% to between 22% and 24%, as a refelction of the oversupply and falling module ASPs. Yingli Green has one of the lowest cost-per-watt manufacturing business models due to its fully integrated position, which is expected to help the company limit ASP declines and remain competitive in module sales as it aggressively adds to its sales and distribution channels.
”To strengthen our market presence and enhance our comprehensive customer service, we have established offices and subsidiaries in key markets including Germany, Spain, Italy and the United States,” commented Liansheng Miao, Chairman and Chief Executive Officer of Yingli Green Energy. “In addition, Yingli Green Energy entered into a long-term strategic cooperation with TUV Rheinland (Shanghai) Co., Ltd. Under the strategic partnership, TUV Rheinland will conduct periodic factory inspections to review production, testing and calibration procedures and assist Yingli Green Energy in certification planning and execution to support new product introductions, which will provide our customers with an additional level of quality assurance,” Miao said.
Yingli Green reported full 2008 revenues of US$1,107.1 million, an 86.1% increase over 2007. PV module shipments increased to 281.5MW in 2008, compared with 142.5MW in 2007.
The average selling price for PV modules in 2008 was US$3.88 per watt, slightly higher than US$3.86 per watt in 2007, the company reported.