Yingli Green Energy estimates that it has made a net profit in the first quarter of 2016 for the first time since the third quarter of 2011.
The Chinese company said preliminary data shows gross margin of 18.5% to 20.5% for the first three months of the year, which is a “significant increase” on the fourth quarter of 2015.
Yingli said the positive results are primarily due to the higher average selling price of the company’s solar modules compared with the previous quarter, mainly the result of more shipments to Japan.
The company said it estimates module shipments in the first three months of 2016 were in the range of 500MW–510MW, which were at the high end of its previous guidance of 480MW to 510MW.
However, Yingli noted that the preliminary results “remain subject to change based on the management’s ongoing review of the first quarter results”.
Image: Yingli
