Yingli Green Energy quarter revenue rises on account of China and Japan

Liansheng Miao, chairman and CEO of Yingli Green Energy

Yingli Green Energy announced total net revenues for the quarter ended December 31, 2016, stands at RMB2,041.4 million (US$294.0 million), up  approximately 40 percent from the third quarter of 2016.

Total PV module shipments rose by 74 percent Q-o-Q to touch 635.1MW.

For the full year 2016, total net revenues were RMB8,376.1 million (US$ 1,206.4 million), compared to RMB9,965.8 million in 2015, down by 16 percent approximately.

Total PV module shipments in 2016 were 2,170.4MW, compared to 2,447.0MW in 2015.

The increase in module shipment is primarily attributed to the increased demand from China and Japan, said Liansheng Miao, chairman and chief executive officer of Yingli Green Energy.

The PV module shipments to China in the fourth quarter more than doubled compared to previous quarter and accounted for 75 percent of the company’s total PV module shipments in the quarter.

Meanwhile, PV module shipments to Japan in the fourth quarter increased by 11 percent compared to the third quarter and accounted for 20 percent of the total shipments in the quarter.

During this quarter, Yingli Green Energy started to deliver approximately 115MW of PV modules for Japan’s largest solar plant with a total capacity of 230MW and the delivery is expected to be completed in the second quarter of 2017.

“On the technology side, the Company has been actively promoting its patented PANDA Bifacial module, which can generate power not only from the front side, but also from the rear side by leveraging reflected light in the environment,” Miao added.

Yingli Green Energy also completed the development of Smart Hot-spot Free series of panels in the fourth quarter, which can eliminate potential safety hazards such as fire and material degradation and ensure safety and reliability, according to Miao.

Miao added that they expect the PV module shipments in the first quarter of 2017 would be in the range of 380MW to 400MW, and PV module shipments for full year of 2017 would be in the range of 2.1GW to 2.2GW.

The company recorded net loss of RMB1,854.7 million (US$267.1 million) in the fourth quarter of 2016, compared to RMB335.4 million in the third quarter of 2016 and RMB1,439.0 million in the fourth quarter of 2015.

Loss per ADS was RMB102.0 (US$14.7) in the fourth quarter of 2016, compared to RMB18.5 in the third quarter of 2016 and RMB79.2 in the fourth quarter of 2015.