Yingli Green Energy (YGE) Cuts Q2 Shipments, Gross Margin Outlook

Yingli Green Energy Holding Company Limited (NYSE: YGE) preannounced its financial results for the quarter ended June 30, 2012.

Based upon preliminary data, the Company expects its PV module shipment volumes for the second quarter of 2012 to increase by 13% to 14% over the previous quarter, compared to its previously provided guidance of an approximately 15% increase. In addition, the Company estimates its overall gross margin for the second quarter of 2012 to be a middle single digit percentage, compared to its previously provided guidance of a middle to high single digit percentage. In addition, the Company expects that its financial performance in the second quarter of 2012 will be negatively impacted by a foreign exchange loss between US$28 million to US$30 million due to the depreciation of the Euro against the RMB.

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