Yingli Green Energy has earned total net revenues of RMB 2,686.8 million (US$432.2 million approx) for the first quarter ended March 31, 2014.
The company recorded total PV module shipments of 630.8 MW.
Liansheng Miao, chairman and chief executive officer of Yingli Green Energy, said, “In the first quarter, we witnessed a continued evolution of end demand diversification with exceptional demand from Japan and other emerging markets coupled with steady growth from U.S. and stabilization in Europe, while module shipments in MW shrunk primarily due to the traditional seasonality and a slightly delay in delivery for projects in Algeria.”
Overall gross profit was RMB 421.3 million (US$67.8 million). The company has earned overall gross margin of 15.5 percent while overall gross margin for sales of PV module was 16.8 percent.
Operating loss for the quarter was RMB 129.0 million (US$20.7 million), representing an operating margin of negative 4.8 percent.
Net loss was RMB 341.8 million (US$55.0 million) and loss per ordinary share and per American depositary share (“ADS”) was RMB 2.18(US$0.35).
Yingli Green Energy has approximately 1 GW of downstream project pipeline across China. The company expects to develop approximately 400MW to 600MW of PV projects by the end of 2014.
The company now sees substantial demand from China as sell as emerging markets such as South America, Southeast Asia and Africa. The trend is expected to continue toward the last quarters of the year as well.
Based on the estimates on market demands, the company expects to achieve shipment guidance of 4.0GW to 4.2GW for fiscal year 2014, Miao said.
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