Yingli Green Energy Holding Co Ltd (ADR) (NYSE:YGE), one of the world’s leading solar panel manufacturers, known as “Yingli Solar,” today announced that it plans to release its unaudited financial results for the second quarter ended June 30, 2016, before the U.S. market opens on Tuesday, August 23, 2016.
Based upon preliminary data, the Company expects to maintain a positive momentum into the second quarter of 2016, with an estimated net profit margin of 2.5% to 3.5% for the second quarter of 2016. The Company estimates that PV module shipments (including shipments to the Company’s own downstream PV projects) in the second quarter of 2016 were in the range of 630MW to 660MW, exceeding its previous guidance of 580MW to 620MW. The Company estimates that its overall gross margin for the second quarter of 2016 was in the range of 17%-19%, slightly decreased from the first quarter of 2016, which was mainly due to the lower average selling price of the Company’s PV modules in the second quarter of 2016 compared to the first quarter of 2016 primarily as a result of higher proportion of shipments to China in the second quarter of 2016, where the selling price of PV modules generally is lower than that in other markets.
These preliminary second quarter results are based on the Company’s management’s preliminary review of operations for the second quarter of 2016 and remain subject to change based on the management’s ongoing review of the second quarter results. (Original Source)
Shares of Yingli Green are currently trading at $4.02, up $0.12 or 3.08%. YGE has a 1-year high of $10 and a 1-year low of $2.86. The stock’s 50-day moving average is $3.96 and its 200-day moving average is $4.21.
On the ratings front, Roth Capital analyst Philip Shen maintained a Sell rating on YGE, in a report issued on July 22. According to TipRanks.com, Shen has a yearly average return of -15.8%, a 26.8% success rate, and is ranked #4005 out of 4102 analysts.
Yingli Green Energy Holding Co. Ltd. manufactures photovoltaic module. The company manufactures photovoltaic value chain, from the production of polysilicon through ingot casting and wafering, to solar cell production and module assembly. It markets its products under the brand Yingli Solar. The company was founded in August 1998 and is headquartered in Baoding, China.