Yingli Green Energy (YGE) Sees Q3 Module Shipments Down 17% Sequentially, Will Reverse Certain Provisions
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Yingli Green Energy Holding Company Limited (NYSE: YGE) announced its preliminary financial results for the quarter ended September 30, 2012.
Based on preliminary data, the Company currently expects its module shipment in the third quarter of 2012 to decrease by approximately17% from the second quarter. The Company also expects to recognize non-cash charges of an inventory provision and a depreciation expense that related to underutilized capacity which occurred in the third quarter of 2012.
In addition, according to the final rulings by the United States International Trade Commission regarding the import of Chinese PV cells and modules to the U.S., the Company expects to reverse the preliminary countervailing and anti-dumping duties provision recognized in the first quarter of 2012. As a result, the Company expects its gross margin in the third quarter of 2012 to be in the range of negative 22% to 24%. Excluding the impact of the non-cash charges and the reversal of duties provision mentioned above, the Company expects its gross margin of PV modules in the third quarter of 2012 to be in the range of 0% to 1%.
Based on preliminary data, the Company currently expects its module shipment in the third quarter of 2012 to decrease by approximately17% from the second quarter. The Company also expects to recognize non-cash charges of an inventory provision and a depreciation expense that related to underutilized capacity which occurred in the third quarter of 2012.
In addition, according to the final rulings by the United States International Trade Commission regarding the import of Chinese PV cells and modules to the U.S., the Company expects to reverse the preliminary countervailing and anti-dumping duties provision recognized in the first quarter of 2012. As a result, the Company expects its gross margin in the third quarter of 2012 to be in the range of negative 22% to 24%. Excluding the impact of the non-cash charges and the reversal of duties provision mentioned above, the Company expects its gross margin of PV modules in the third quarter of 2012 to be in the range of 0% to 1%.
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