Yingli Says Solar Sales Surge as Value of Inventory ReducedReed Landberg
Yingli Green Energy Holding Co. Ltd. said its shipments of solar panels surged at more than double the pace it expected in the fourth quarter as it wrote down the value of its inventory, reflecting lower prices.
The company based in Baoding, China, said it expects a 40 percent increase in shipments, higher than its previous guidance for an advance in the low teens in percentage terms. It also plans to write down inventory, resulting in a charge against earnings that will make its gross margin in the range of minus 8 percent to minus 8.5 percent.
The disclosures in a statement on PR Newswire were the first details of its full-year earnings release due on March 4.