Yingli Green Energy Holding Co. Ltd. Announces Executive Changes; Announces Unaudited Consolidated Financial Results for the First Quarter Ended March 31, 2013; Provides Production Guidance for the Fiscal Year 2013; Provides Financial Guidance for the Second Quarter of 2013
The company announced unaudited consolidated financial results for the first quarter ended March 31, 2013. For the quarter, the company reported total net revenues of RMB 2,679,273,000 against RMB 3,148,521,000 a year ago. The sequential decrease in net revenues were mainly due to the decreased PV module shipments, which was partially offset by the slightly improved average selling price of PV modules in this quarter. Loss from operations was RMB 324,704,000 against RMB 134,715,000 a year ago. Loss before income taxes was RMB 632,086,000 against RMB 291,609,000 a year ago. Net loss was RMB 641,905,000 against RMB 280,244,000 a year ago. Net loss attributable to company was RMB 611,781,000 against RMB 283,185,000 a year ago. Loss per basic and diluted share and per ADS was RMB 3.91 against $1.82 a year ago. Non-GAAP loss attributable to Yingli Green Energy was RMB 607,088,000 against RMB 239,492,000 a year ago. Non-GAAP diluted loss per share and per ADS was RMB 3.88 against RMB 1.54 a year ago.
The company announced that based on current market and operating conditions, estimated production capacity and forecasted customer demand, the company reiterates its PV module shipment target to be in the estimated range of 3.2 GW to 3.3 GW for fiscal year 2013, which represents an increase of 39.4% to 43.7% compared to fiscal year 2012.
The company expects gross margin in second quarter of 2012 to be in the range from 9% to 11%.