Yingli Green Energy made a loss of RMB 3200.2m ($503.5m) in the third quarter of 2015, compared with a loss of RMB 598.7m in the second quarter and RMB122.8m in the same period last year.
Revenues were down in the third quarter of 2015 at RMB2233.9m compared with RMB2716m in the previous period and RMB3385.2m in the third quarter of last year.
Yingli said the reason for the drop in revenues was a fall in product shipments.
Total PV module shipments were down at 460.4MW in the third quarter, compared with 727.9MW in the second quarter of 2015 and 903.4MW in the third quarter of 2014.
Operating expenses were up in the period at RMB3220.2m compared with RMB349.9m in the second quarter and RMB506.4m in the third quarter of 2014.
The company said the increase in operating expenses was “mainly due to the recognition of a non-cash impairment charge on long-lived assets”.
Yingli chairman and chief executive officer Liansheng Mao said: “Through various measures including disposal of PV project assets, the potential introduction of strategic investors and potential new cooperation models with our business partners, we will continue to enhance our cash position in order to gradually improve our financial position in the future.”
Image: Yingli Green Energy
