EcoSeed

Advertise With Us                                   Contribute With Us                                

Fri12192014

Back You are here: Home Business Finance Shipments up but Yingli experiences loss in 2011

Finance

Shipments up but Yingli experiences loss in 2011

China's Yingli Green Energy Holding Company may be seeing a consistent increase in their PV module shipments, cumulating in 1,603.8 megawatts for the year 2011, although not enough to turn a profit.

The solar product provider announced its unaudited consolidated financial results for the fourth quarter and full year ended December 31, 2011, which gave its total net revenues at $408 million and $2.332 million, respectively.

But taking into account its operating losses and expenses, the company ended the quarter with a loss of $599.4 million and the year with a loss of $509.8 million.

"The PV industry experienced tremendous pressure in 2011 due to supply-demand imbalance throughout the value chain. This pressure was exacerbated by incentive adjustments in major solar markets and implementation of government austerity measures in Europe," explained Mr. Liansheng Miao, chairman and chief executive of Yingli.

"While our module shipment volume in the fourth quarter was down from the previous quarter, we strengthened our position in major markets such as Germany, China and the United States," he added.

All in all, the year 2011 saw Yingli's module shipments increase 51 percent from 2010 to 1,603.8 MW and the company is confident that this growth will continue.

The company intends to add another 750 MW of manufacturing capacity to their facilities in Haikou, Tianjin, Hengshui and Baoding this year and has a shipment guidance of 2.4 to 2.5 gigawatts for 2012.

Yingli is a leading solar energy company with a production capacity of 1.7 GW worth of solar modules per year. Based in Baoding, China, Yingli distributes its modules to Germany, Spain, Italy, Greece, France, South Korea, China and the United States.

Listed on the New York Stock Exchange, Yingli stocks were trading for $3.74 as of market close on February 29. – K.R. Jalbuena



Featured Partners