Chinese photovoltaic (PV) manufacturer Yingli Green Energy said preliminary indications suggest a 30 per cent decrease in quarterly PV module shipments for the end of fiscal 2011.
The company is also now anticipating a three per cent gross margin for the fourth quarter of 2011, compared to previous guidance of ten per cent. It is expecting to ship modules with a capacity of between 1,580MW and 1,630MW for fiscal 2011, in line with previous forecasts.
In addition, impairment costs on the assets of subsidiary Fine Silicon are expected to run to $361m, as well as an impairment of goodwill estimated at $43m.
Yingli said the asset impairment is the result of less than expected revenues from Fine Silicon due to a sharp decline in global unit prices.
The company is expecting to make a provision of $135m on its inventory purchase commitment under long-term polysilicon supply contracts, as a result of falling prices.
Copyright © 2012 NewNet
You must be logged in to post a comment.