Yingli Green Energy has announced its preliminary estimates of certain financial results for the first quarter of 2014 on April 11th. The company estimates that PV module shipment decreased QoQ but the yearly shipment is still optimistic.
According to Yingli’s estimation, its PV module shipments in the first quarter of 2014 decreased by low thirties percent from the fourth quarter of 2013, which is below its previous guidance of a mid-twenties percent decrease. The decrease was primarily due to a soft demand in China market as the result of a traditional seasonality and a slightly delayed schedule for delivering PV modules for projects in Algeria. This delivery delay was due to a longer than expected process for obtaining local construction permission and the delayed modules are now expected to be delivered in the following quarters. However, based on global market developments and, in particular, robust demand from China, U.S., Japan and other markets, the Company reiterates its PV modules shipment guidance of 4.0GW to 4.2GW for fiscal year 2014.
Furthermore, the comapny estimates its overall gross margin in the first quarter of 2014 to be in the range of 15.5% to 16.5%, compared with its previous guidance of 14% to 16%. This increase is primarily due to a higher average selling price in the first quarter of 2014.