Yingli Green Energy Holding Co Ltd (ADR) (NYSE:YGE), one of the world’s leading solar panel manufacturers, today announced that it plans to release its unaudited financial results for the quarter ended September 30, 2015, before the U.S. market opens on December 2, 2015.

Based upon preliminary data, the Company expects that its total net revenues in the third quarter of 2015 were in the range of US$340 million to US$350 million, in line with the management’s previous estimation. In addition, the Company estimates that its overall gross margin in the third quarter of 2015 was in the range of 8% to 9%, increased from 6.3% in the second quarter, as a result of increase in average selling price and decrease in unit cost of PV modules. Meanwhile, the Company estimates that its PV module shipments (excluding OEM production for third parties) in the third quarter of 2015 were in the range of 450MW to 460 MW, compared to its previous guidance of 550MW to 580MW. The lower-than-expected shipments were due to a lower-than-expected utilization of production facilities for in-house PV module.

Further to the Company’s announcement on September 8, 2015, the Company expects to recognize a non-cash impairment charge on long lived assets totaling RMB3,694.2 million (US$581.3 million) in the third quarter of 2015, which was mainly due to the lower-than-expected utilization of certain production facilities of the Company in 2015.

These preliminary, unaudited third quarter results are based on management’s preliminary review of operations for the third quarter of 2015 and remain subject to change based on management’s ongoing review of the third quarter results. (Original Source)

Shares of Yingli Green Energy closed yesterday at $0.70, up $0.04 or 6.06%. YGE has a 1-year high of $3 and a 1-year low of $0.33. The stock’s 50-day moving average is $0.69 and its 200-day moving average is $0.88.

On the ratings front, Yingli Green Energy has been the subject of a number of recent research reports. In a report issued on September 30, Roth Capital analyst Philip Shen reiterated a Sell rating on YGE, with a price target of $0.31, which reflects a potential downside of -55.7% from last closing price. Separately, on September 10, Credit Suisse’s Patrick Jobin maintained a Sell rating on the stock and has a price target of $0.75.

According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Philip Shen and Patrick Jobin have a total average return of -16.2% and -11.8% respectively. Shen has a success rate of 22.4% and is ranked #3615 out of 3641 analysts, while Jobin has a success rate of 27.6% and is ranked #3432.

Yingli Green Energy Holding Co Ltd along with its subsidiaries is engaged in the design, development, marketing, manufacture, installation and sale of photovoltaic products in China & overseas market.