Yingli Green Energy Holding Co. (YGE) trimmed its full-year and third-quarter forecast for solar-panel shipments, making it the latest in a string of Chinese solar-products makers to rein in expectations amid depressed demand and oversupply.

For the third quarter, Yingli Green now expects shipments to increase in the low twenties on a percentage basis, off its prior guidance of a high twenties percentage increase in shipments quarter over quarter. For the year, the company now expects shipments between 1,580 and 1,630 megawatts, below the 1,700 to 1,750 range previously anticipated.

Alongside lighter shipments, Yingli Green also predicted narrower margins for the period. Overall gross margin is now seen in the range of 10% to 11%, including a non-cash inventory provision of approximately $40 million. The company had expected gross margin in the middle-to-high-teen percentage range.

The dimmed forecast follow similar predictions from fellow Chinese solar-products makers in recent days. Solar-panel prices having plunged as much as 50% over the last year amid weak demand and rampant supply.

China-based ReneSola Ltd. (SOL) also trimmed its third-quarter shipment forecast Monday, while noting it expects to post a loss for the period.

American depositary shares of Yingli Green were off 2.7% to $3.59 in premarket trade. The stock is down 63% since the start of the year.
Ακολουθήστε το energia.gr στο Google News!Παρακολουθήστε τις εξελίξεις με την υπογραφη εγκυρότητας του energia.gr

Διαβάστε ακόμα