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Yingli Green Energy halves first quarter loss

Chinese PV panel maker curbs deficit as prices rise and costs fall.

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Solar, Yingli, News

Chinese photo voltaic (PV) panel maker Yingli Green Energy nearly halved its first quarter loss partly thanks to higher prices.

The New York-listed company, which recently announced a major push into the Middle East via subsidiary Yingli Solar, said lower costs had helped to boost margins in the three months to 31 March.

Yingli, a major sponsor of the FIFA World Cup in Brazil, shipped 630.8 MW modules during the period and expects to ship about 870-950 MW modules in the second quarter.

The company says it is still on course to hit its full-year 2014 PV module shipment target of 4 to 4.2 GW, an increase of between 23.7% and 29.9% from 2013.

Its net loss narrowed to $55 mn from $98.5 mn a year earlier while revenue was nearly unchanged at $432.2 mn.

Yingli Solar recently announced a focus on the burgeoning Middle East solar market and is already involved in a solar project in Jordan.

 

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