Yingli Green Energy revenue at new high in June quarter

Yingli Green Energy

Yingli Green Energy has reported net revenues of RMB3,173.6 million (US$468.1 million) for the quarter ended June 30, 2017, up 156 percent compared to RMB1,238.3 million in the first quarter of 2017.

Total PV module shipments were 1,146.6MW, compared to 370.9MW in the first quarter of 2017.

“Driven by the surging demand from China due to the expected feed-in-tariff (FiT) reduction after June 30, 2017, the Company’s PV module shipments reached a record high of 1,146.6 MW in a single quarter in the second quarter of 2017, increasing by 209 percent over the first quarter of 2017, and exceeded previous guidance,” said Liansheng Miao, chairman and chief executive officer of Yingli Green Energy.

“Geographically, shipments to China increased from 243MW in the first quarter of 2017 to 992MW and accounted for 86.5 percent of our total PV module shipments in the second quarter of 2017, as a result of successful cooperation with different types of customers,” Miao said.

The Company expects the Top Runner program, PV Poverty Alleviation projects and distributed generation projects in China will be the major driving forces for the Company’s PV module shipments in China in the second half of 2017.

Shipments to Europe, Japan, and United States increased compared to the first quarter of 2017. In Japan, the Company successfully completed the delivery of about half of the 230MW modules ordered by the Japan’s largest solar plant in the second quarter.”

Yingli started using diamond wire sawing technology in the second quarter of 2017 and plans to increase its application in the second half of 2017. This technology is expected to reduce unit production cost of PV modules by about 5 percent.

The Company also launched a PANDA Bifacial half-cell module which could achieve over 300W of single-sided power output and 335W of double-sided power output. In addition, the Company put the Smart Hotspot Free and multi-crystalline black silicon modules in mass production in the second quarter of 2017, which further diversified the Company’s product portfolio.”

“Based on current market conditions, the Company’s current operating conditions, estimated production capacity and forecasted customer demand, we expect the PV module shipments to be in the range of 550 MW to 600 MW for the third quarter of 2017, and we revise our shipments guidance for full year of 2017 to 2.5 GW to 2.8 GW,” Miao concluded.

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