Yingli Green Energy Holding Company Limited, the world's largest vertically integrated photovoltaic manufacturer, known as "Yingli Solar," announced on June 17th its unaudited consolidated financial results for the quarter ended March 31, 2014.
First Quarter 2014 Consolidated Financial and Operating Highlight
• Total net revenues were RMB 2,686.8 million (US$432.2 million).
• Total PV module shipments (including shipments for PV systems) were 630.8 MW.
• Overall gross profit was RMB 421.3 million (US$67.8 million), representing an overall gross margin of 15.7%. Gross margin for sales of PV module was 16.8%.
• Operating loss was RMB 129.0 million (US$20.7 million), representing an operating margin of negative 4.8%.
• Net loss[1] was RMB 341.8 million (US$55.0 million) and loss per ordinary share and per American depositary share ("ADS") was RMB 2.18(US$0.35). On an adjusted non-GAAP[2] basis, net loss was RMB 338.5 million (US$54.5 million) and loss per ordinary share and per ADS was RMB 2.16(US$0.35).
• On an adjusted non-GAAP basis, earnings before interest, tax expenses, depreciation and amortization (EBITDA) were RMB 221.9 million (US$35.7 million).
