Yingli Green Energy, a leading solar panel manufacturer, announced its financial results, update on fund raising from investors and debt restructuring, among others.
Yingli Green Energy in Q4
Yingli Green Energy announced revenue of RMB2,273.2 million or $349.4 million in Q4 2017 compared to RMB1,678.7 million in the third quarter of 2017.
Yingli Green Energy achieved 40 percent growth in photovoltaic (PV) module shipments to 837.9 MW, compared to 597.7 MW in the third quarter of 2017.
Yingli Green Energy has achieved gross profit of RMB163.3 million or $25.1 million with gross margin of 7.2 percent, compared to RMB26.5 million gross profit and 1.6 percent margin in Q3 2017. The company said gross margin on sales of PV modules was 8.1 percent in Q4.
The company posted operating loss of RMB391.8 million or $60.2 million against operating loss of RMB2,266.7 million in the third quarter of 2017. Net loss was RMB491.9 million or $75.6 million.
Yingli Green Energy in 2017
Yingli Green Energy reported revenue of RMB8,363.7 million or $1,285.5 million against RMB8,376.1 million in 2016. The company shipped 2953.0 MW PV modules compared to 2,170.4 MW in 2016. Its gross profit was RMB304.8 million or $46.8 million, representing a gross margin of 3.6 percent. Gross margin on sales of PV modules was 5.6 percent.
It posted operating loss of RMB2,942.9 million or $452.3 million. Net loss was RMB3,318 million or $510 million.
The slight decrease in total net revenues despite a significant increase in the shipments year-over-year was mainly due to the continuous decline of average selling price of PV modules throughout the company’s major markets, including China and Japan and decrease in other revenues.
The company estimates that its PV module shipments in the first quarter of 2018 were in the range of 400 MW to 420 MW.
Yingli Green Energy said it is in talks with investors to offer equity or restructure debt to sustain in the market place.