Yingli has reported a net profit of RMB71.8m ($10.8 million) for the second quarter of the 2016 driven by higher sales in China.
This compares with RMB79.6 million in the first quarter and a net loss of RMB598.1 million a year ago.
It represents the Chinese manufacturer´s second straight quarter of profitability following more than four years of losses.
Solar panel shipments reached 662MW in the period, 30% higher than in the first quarter but lower than the 727.9MW from the same period of last year.
The company said its Chinese sales doubled from last quarter driven by the demand from projects aiming to connect before July to qualify for a higher feed-in tariff.
This lowered its average selling price for its photovoltaic panels, it said.
Yingli expects to ship between 300MW and 400MW in the third quarter of the year.
“Looking forward to the second half of 2016, we expect to face various challenges, such as the downward trend of average selling price of PV module as a result of increasing competition in various markets and higher anti-dumping and countervailing duty tariff in U.S,” Yingli chief executive Liansheng Miao said.
Image: Yingli
Sales spike steadies Yingli
Solar panel shipments rise in the second quarter of the year as prices drop
By EBS