Yingli Green Energy to achieve 5% cut in PV production cost

Yingli Solar

Yingli Green Energy started to utilize diamond wire sawing technology in order to reduce production cost of PV modules by about 5 percent.

Yingli Green Energy said its revenues reached RMB3,173.6 million or $468.1 million in the second quarter of 2017 against RMB1,238.3 million in the first quarter of 2017.

Yingli Green Energy’s photovoltaic (PV) module shipments were 1,146.6MW in Q2 2017 compared to 370.9MW in the first quarter of 2017.

Yingli Green Energy CEO Liansheng Miao said the company expects the PV module shipments will be in the range of 550 MW to 600 MW for the third quarter of 2017.

Yingli Green Energy is also revising its shipments guidance to 2.5 GW — 2.8 GW during the year due to increased demand from China.

Yingli Green Energy said its Gross profit was RMB53.5 million or $7.9 million compared to RMB61.5 million with gross margin of 1.7 percent against 5 percent. Gross margin on sales of PV modules was 3.9 percent.

Yingli Green Energy posted operating loss of RMB180.8 million or $26.7 million compared to operating loss of RMB103.5 million in the first quarter of 2017.

“Driven by the demand from China due to the expected feed-in-tariff (FiT) reduction after June 30, 2017, the company’s PV module shipments reached 1,146.6 MW in a single quarter in the second quarter of 2017, increasing by 209 percent over the first quarter of 2017,” said Liansheng Miao, chairman and CEO of Yingli Green Energy.

Yingli Green Energy said shipments to China increased from 243MW in the first quarter of 2017 to 992MW and accounted for 86.5 percent of our total PV module shipments in the second quarter of 2017.

Yingli Green Energy also launched a PANDA Bifacial half-cell module which could achieve over 300W of single-sided power output and 335W of double-sided power output.