Revenue at Chinese solar module manufacturer Yingli Green Energy fell to just under RMB8.34bn ($1.20bn) last year from more than RMB9.96bn in 2015.
The company said the fall was down to a reduction in module shipments – 2.2GW compared with almost 2.5GW previously – as well as a decline in the average selling price.
Yingli posted a net loss of just over RMB2bn last year, which was an improvement on the RMB5.6bn loss in 2015.
In 2017, the company said it expects module shipments to be in the range of 2.1GW to 2.2GW.
Yingli chairman and chief executive Liansheng Miao said: “We anticipate that China and Japan will continue to be two important markets for the company.
“In China, the company will continue to actively participate in the ‘top runner’ projects, and will pay more attention to distributed generation projects given the robust growth of the segment.
“In Japan, the company is shifting to low wattage market with EPC solutions due to a decreasing number of mega solar projects and expects to continue to expand into the residential segment by signing residential partners across the country.”
In Europe the company is in the process of restructuring to save costs, while in the Americas Yingli has adjusted its marketing strategy to include distributed generation.
Image: Yingli Green Energy
Yingli suffers revenue drop
Fall in module shipments and price decline hits Chinese manufacturer
By EBS