Yingli Green sees 13%-14% Q/Q rise in PV shipments for Q2 2012
Aug 2, 2012 - Chinese solar product maker Yingli Green Energy Holding Co Ltd (NYSE:YGE) today said it expected to post a 13% to 14% quarter-on-quarter jump in photovoltaic (PV) module shipments for the second quarter, based on preliminary figures.
The rise is slightly below the earlier projected 15% sequential growth.
The company also estimates its gross margin to be a middle single digit percentage, instead of the previously expected middle to high single digit percentage.
Besides, Yingli Green anticipates a foreign exchange loss of USD 28 million to USD 30 million due to the depreciation of the euro against the Chinese yuan.
Despite the challenges in the PV sector during the past quarter, Yingli Green managed to reach its module shipment volumes and gross margin forecasts, the company's chairman and CEO Liansheng Miao said.
Yingli Green will announce its second-quarter results on August 29.