Yingli Green Energy Reports Third Quarter 2017 Results.

Yingli Green Energy Holding Company Limited, one of the world's leading solar panel manufacturers, known as "Yingli Solar," today announced its unaudited consolidated financial results for the quarter ended September 30, 2017.

Third Quarter 2017 Consolidated Financial and Operating Summary

  • Total net revenues were RMB1,678.7 million (US$252.3 million), compared to RMB3,173.6 million in the second quarter of 2017.
  • Total photovoltaic ("PV") module shipments were 597.7 MW, compared to 1,146.6MW in the second quarter of 2017.
  • Gross profit and gross margin were RMB26.5 million (US$4.0 million) and 1.6% respectively, compared to RMB53.5 million and 1.7% respectively in the second quarter of 2017. Gross margin on sales of PV modules was 3.4%.
  • Operating loss was RMB2,266.7 million (US$340.7 million), including a non-cash impairment loss on property, plant and equipment of RMB1,897.3 million (US$285.2 million) and project assets of RMB144.4 million (US$21.7 million), compared to operating loss of RMB180.8 millionin the second quarter of 2017.
  • On a non-GAAP(1) basis, earnings before interest, tax expenses, depreciation and amortization ("EBITDA") were negative RMB2,116.3 million (US$318.1 million), compared to negative RMB27.4 million in the second quarter of 2017.
  • Net loss(2) and loss per American Depositary Share (the "ADS", one ADS represents ten ordinary shares) were RMB2,344.0 million (US$352.3 million) and RMB129.0 (US$19.4) respectively, compared to RMB297.6 million and RMB16.4 respectively in the second quarter of 2017. On an adjusted non-GAAP basis, adjusted net loss and adjusted loss per ADS were RMB330.0 million(US$ 49.6 million) and RMB18.2 (US$2.7) respectively, compared to RMB322.8 million and RMB17.8 respectively in the second quarter of 2017.
Business | News published on 20/12/2017 by Rashmi Nargundkar

 
 
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