Yingli Green Energy Holding Co. (YGE) trimmed its full-year and third-quarter forecast for solar-panel shipments, making it the latest in a string of Chinese solar-products makers to rein in expectations amid depressed demand and oversupply.
Yingli Green Energy Holding Co. (YGE) trimmed its full-year and
third-quarter forecast for solar-panel shipments, making it the latest in a string
of Chinese solar-products makers to rein in expectations amid depressed demand
and oversupply.
For the third quarter, Yingli Green now expects shipments to increase in the
low twenties on a percentage basis, off its prior guidance of a high twenties
percentage increase in shipments quarter over quarter. For the year, the
company now expects shipments between 1,580 and 1,630 megawatts, below the
1,700 to 1,750 range previously anticipated.
Alongside lighter shipments, Yingli Green also predicted narrower margins for
the period. Overall gross margin is now seen in the range of 10% to 11%,
including a non-cash inventory provision of approximately $40 million. The
company had expected gross margin in the middle-to-high-teen percentage range.
The dimmed forecast follow similar predictions from fellow Chinese
solar-products makers in recent days. Solar-panel prices having plunged as much
as 50% over the last year amid weak demand and rampant supply.
China-based ReneSola Ltd. (SOL) also trimmed its third-quarter shipment
forecast Monday, while noting it expects to post a loss for the period.
American depositary shares of Yingli Green were off 2.7% to $3.59 in premarket
trade. The stock is down 63% since the start of the year.
Διαβάστε ακόμα
Τρι, 24 Σεπτεμβρίου 2024 - 19:58
Τρι, 24 Σεπτεμβρίου 2024 - 19:54
Τετ, 18 Σεπτεμβρίου 2024 - 18:32
Τετ, 18 Σεπτεμβρίου 2024 - 18:27
Τρι, 17 Σεπτεμβρίου 2024 - 20:01