Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Yingli Says Margins Hurt By Tax Adjustment as Shipments Surge

March 4 (Bloomberg) -- Yingli Green Energy Holding Co., the world’s biggest solar-panel maker, said its margin in the fourth quarter will be lower than it had expected because of a change in taxation and disposal of some inventories.

The Chinese manufacturer said it expects its gross margin to be in the range of 12 percent to 13 percent, weaker than its previous guidance of 14 percent to 16 percent, primarially because of a tax adjustment related to value added tax. It also disposed of some of its less efficient photovoltaics.

The company also said it had stronger shipments than previously expected, with module sales rising 11 percent to 12 percent in the final three months of the year. Yingli previously had expected an increase in the “mid-to-high single digit” percentages, according to a statement from the company released today.

Yingli confirmed it expects shipments of as much as 3.3 gigawatts in 2013. It’s due to report earnings for the quarter on March 18.

Link to Statement:{NSN N1WP423MMTC0 <GO>}

Link to Company News:{YGE US <Equity> CN <GO>}

To contact the reporter on this story: Reed Landberg in London at landberg@bloomberg.net

To contact the editor responsible for this story: Alex Devine at adevine3@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.