Yingli Green Energy (Yingli Solar) announced its unaudited financial results for the first quarter ended March 31, 2016. According to preliminary data, the company estimates a net income for the quarter, the first time since the third quarter of 2011.
Based upon the preliminary data, PV module shipmen in 1Q16 were in the range of 500~510MW, which were at the high end of its previous guidance of 480 MW to 510 MW.
Overall gross margin in 1Q16 was estimated to be between 18.5~20.5%, representing a significant increase from the fourth quarter of 2015. The increase can be explained by higher average selling price of the company’s PV modules. In 1Q16, Yingli Solar shipped higher proportion of PV modules to Japan, where the selling price of PV module generally is higher than that in other markets.
Additionally, Yingli Solar estimates that its net income for the first quarter of 2016 turned into positive for the first time since the third quarter of 2011, with an estimated net margin of 2.5% to 4.5%.
These preliminary first quarter results are based on Yingli Solar’s management's preliminary review of operations for the first quarter of 2016 and remain subject to change based on the management's ongoing review of the first quarter results.