Company Update (NYSE:YGE): Yingli Green Energy Holding Co Ltd (ADR) Announces Preliminary Financial Results for First Quarter 2016
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 first quarter ended March 31, 2016, before the U.S. market opens on Tuesday, June 14, 2016.
Based upon preliminary data, the Company 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%. The Company estimates that its PV module shipments in the first quarter of 2016 were in the range of 500-510MW, which were at the high end of its previous guidance of 480 MW to 510 MW. The Company also estimates that its overall gross margin in the first quarter of 2016 was in the range of 18.5% to 20.5%, representing a significant increase from the fourth quarter of 2015, which was primarily due to the higher average selling price of the Company’s PV modules compared to the fourth quarter of 2015 mainly as a result of higher proportion of shipments to Japan, where the selling price of PV module generally is higher than that in othermarkets.
These preliminary first quarter results are based on the Company’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. (Original Source)
Shares of Yingli Green Energy closed last Friday at $3.68, down $0.15 or -3.92%. YGE has a 1-year high of $14.05 and a 1-year low of $2.86. The stock’s 50-day moving average is $3.90 and its 200-day moving average is $4.60.
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.