| Yingli Gives Preliminary Q3 View, Lowers Shipment Guidance | |
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Yingli Green Energy Holding Co. Ltd. YGE or Yingli Solar expects lower-than-expected shipments in the third quarter of 2015. The company is scheduled to report third-quarter results on Dec 2, 2015, before the opening bell.
Yingli Solar, in its preliminary financial results for the quarter, revealed that photovoltaic (“PV”) module shipments (excluding OEM production for third parties) were in the range of 450 megawatt (“MW”) to 460 MW, down from its earlier forecast of 550 MW to 580 MW. The downside was due to lower-than-expected utilization of production facilities for in-house PV modules.
However, Yingli Solar expects total net revenues to be in the range of $340 million to $350 million, in line with its previous expectation. Moreover, the company expects gross margin to be in the range of 8% to 9%, up from 6.3% in the second quarter. This is mainly attributable to the increase in average selling price and decrease in unit cost of PV modules.
Yingli Solar, as was earlier hinted, will register impairment charges of $581.3 million on long-lived assets in the third quarter due to a lower-than-expected utilization ratio of some project facilities.
One of the world’s leading solar panel manufacturers, the company has been struggling to survive amid a pile of debt. Importantly, Yingli Solar has failed to generate profits since 2011. In this scenario, the company may find it difficult, if not impossible, to pay down its outstanding debt. This can lead to cross-defaults, putting it at liquidation risk.
Though Yingli Solar has made some progress on the debt front, with outstanding debt at the end of the second quarter declining to $332.9 million from $460.7 million as of Dec 31, 2014, it is still substantially indebted. The situation is further exacerbated by the company’s inability to report in the green for the past few quarters. Yingli Solar has recently paid back $110 million "from the liquidation of idle land and demolition of facilities," but it has little ability of remaining competitive in the long run. Moreover, the pressure on margins is definitely a concern.
Zacks Rank
Yingli Green Energy currently has a Zacks Rank #3 (Hold). Some better-ranked stocks in the solar industry are JA Solar Holdings Co., Ltd. JASO, ReneSola Ltd. SOL and Canadian Solar Inc. CSIQ. While JA Solar and ReneSola hold a Zacks Rank #1 (strong Buy), Canadian Solar carries a Zacks Rank #2 (Buy).
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Yingli Green Energy Holding Co. Ltd.
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CODE : YGE |
ISIN : US98584B1035 |
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ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
Yingli Green est une société basée en Chine. Yingli Green est cotée aux Etats-Unis D'Amerique et en Allemagne. Sa capitalisation boursière aujourd'hui est 261,7 millions US$ (224,0 millions €). La valeur de son action a atteint son plus haut niveau récent le 15 mai 2009 à 9,62 US$, et son plus bas niveau récent le 30 novembre 2012 à 1,25 US$. Yingli Green possède 181 764 000 actions en circulation. |