Yingli Green slashes full-year module shipment guidance

Facebook
Twitter
LinkedIn
Reddit
Email

Leading PV manufacturer, Yingli Green Energy has slashed full-year module shipment guidance that indicates almost zero shipment growth for 2014. 

The company reported third quarter net revenue of US$551.5 million, compared to revenue of US$549.5 million in the previous quarter. 

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

Total module shipments were 903.4MW, compared to 887.9MW in the second quarter of 2014 and just inside the lower range of previous guidance for the quarter. 

However, the significant figure was the drastic downward revision in full-year module shipments. Yingli Green guided shipments to be in the range of 3.30GW to 3.35GW, down from last quarter downward revised guidance of shipments of 3.6GW to 3.8GW. 

As a result Yingli Green’s 2014 shipment growth is only 3% to 4.6% compared to 2013. Yingli Green had started the year with full-year shipment guidance of 4.0GW to 4.2GW. 

“In order to seek a balance between our shipment volume and profitability, we decide to revise our shipment guidance for full year of 2014 to 3.3-3.35 GW,” said Liansheng Miao, chairman and Chief Executive Officer of Yingli Green Energy.

The company also reported a gross profit of US$115.0 million, representing a gross margin of 20.9% in the third quarter. Operating income was US$32.5 million, representing an operating margin of 5.9%. 

However, the company remains loss making, reporting a net loss in the third quarter of US$20 million, down from a net loss of US$46 million in the second quarter and further decrease from a net loss of US$55 million in the first quarter of 2014.

“Despite the slower than expected development of downstream projects in the first half of 2014, we are progressing well in the downstream in the second half of 2014,” added Miao. “In the third quarter, we began to construct 185 MW of downstream projects, bringing our projects under construction to a total of 340MW, with internal shipments to these projects having reached to 187MW. In the fourth quarter, we expect to start the construction of 50 to 60MW of downstream projects in total. Thus we expect to develop approximately 400MW of downstream projects by ourselves or together with our partners by the end of 2014.”

Yingli Green had previously guided 400MW to 600MW of completed downstream PV projects for 2014. 

Read Next

September 11, 2025
Founder Group has won a RM10 million (US$2.3 million) engineering, procurement, construction and commissioning contract for a 30MW solar plant in Malaysia.
September 11, 2025
German renewable energy developer ib vogt has signed a 70MW solar PV virtual power purchase agreement (vPPA) in Romania.
September 11, 2025
Madison Energy Infrastructure has raised US$800 million to accelerate the deployment of clean energy assets across the US. 
September 11, 2025
The PEARL Consortium has developed perovskite solar cells with carbon electrodes with a conversion efficiency of 21.6%.
September 11, 2025
The EBRD has launched a new programme to improve access to green financing and support energy investments such as renewable power projects.
September 11, 2025
Constant Energy has secured THB300 million (US$9.4 million) in green financing from HSBC to expand large-scale solar and battery storage projects in Thailand. 

Subscribe to Newsletter

Upcoming Events

Solar Media Events
September 16, 2025
Athens, Greece
Solar Media Events
September 30, 2025
Seattle, USA
Solar Media Events
October 1, 2025
London, UK
Solar Media Events
October 2, 2025
London,UK
Solar Media Events
October 7, 2025
Manila, Philippines