yingli green energy hold-adr (YGE) Details
Yingli Green Energy Holding Company Limited, together with its subsidiaries, engages in the design, development, manufacture, assembly, sale, and installation of photovoltaic (PV) products and related accessories worldwide. The company offers PV cells, PV modules, and integrated PV systems, as well as polysilicon ingots and blocks, and polysilicon wafers; and invests in renewable energy projects. It primarily sells its PV modules to distributors, wholesalers, power plant developers and operators, and PV system integrators under the Yingli and Yingli Solar brand names. Yingli Green Energy Holding Company Limited was founded in 1998 and is headquartered in Baoding, the People’s Republic of China.
Last Reported Date: 04/23/13
Founded in 1998
yingli green energy hold-adr (YGE) Top Compensated Officers
Yingli Green Energy Holding Co. Ltd.'s PV Modules Passes SGS's Blowing Sand Test
Jun 7 13
Yingli Green Energy Holding Co. Ltd. announced that the company's PV modules have passed the Blowing Sand Test conducted in SGS's Solar Test House, demonstrating that the Company's PV modules can keep an outstanding performance even in harsh conditions such as in the desert. To determine the effects on solar panels of dust and sand in air, SGS's Solar Test House simulates the erosion effects of high-velocity sand particles within dust chambers. Pulses of compressed air are blown through a manifold located in the bottom of a collection trough, forcing dust up and over the solar modules. The Test contains maximum power determination, the insulation test, and the wet leakage current test.
Yingli Green Energy Holding Co. Ltd. Announces Executive Changes; Announces Unaudited Consolidated Financial Results for the First Quarter Ended March 31, 2013; Provides Production Guidance for the Fiscal Year 2013; Provides Financial Guidance for the Second Quarter of 2013
May 30 13
Yingli Green Energy Holding Company Limited announced that the board of directors has officially approved the appointment of Mr. Yiyu Wang as the Chief Financial Officer, coupled with the shift of Mr. Bryan Li, Executive Director and the new Chief Strategy Officer of YGE. Mr. Wang has worked as CFO and the Financial Controller for more than 6 years at Yingli. Mr. Bryan Li will continue to serve as Executive Director with added responsibility as the company’s CSO. Mr. Li will be in charge of strategic planning and implementation of strategic projects including comprehensive cooperation with business partners and development of downstream business. Mr. Li will also assist Mr. Wang during the transition period.
The company announced unaudited consolidated financial results for the first quarter ended March 31, 2013. For the quarter, the company reported total net revenues of RMB 2,679,273,000 against RMB 3,148,521,000 a year ago. The sequential decrease in net revenues were mainly due to the decreased PV module shipments, which was partially offset by the slightly improved average selling price of PV modules in this quarter. Loss from operations was RMB 324,704,000 against RMB 134,715,000 a year ago. Loss before income taxes was RMB 632,086,000 against RMB 291,609,000 a year ago. Net loss was RMB 641,905,000 against RMB 280,244,000 a year ago. Net loss attributable to company was RMB 611,781,000 against RMB 283,185,000 a year ago. Loss per basic and diluted share and per ADS was RMB 3.91 against $1.82 a year ago. Non-GAAP loss attributable to Yingli Green Energy was RMB 607,088,000 against RMB 239,492,000 a year ago. Non-GAAP diluted loss per share and per ADS was RMB 3.88 against RMB 1.54 a year ago.
The company announced that based on current market and operating conditions, estimated production capacity and forecasted customer demand, the company reiterates its PV module shipment target to be in the estimated range of 3.2 GW to 3.3 GW for fiscal year 2013, which represents an increase of 39.4% to 43.7% compared to fiscal year 2012.
The company expects gross margin in second quarter of 2012 to be in the range from 9% to 11%.
Yingli Green Energy Holding Co. Ltd. to Supply 96 MW PV Modules to Jasper PV
May 30 13
Yingli Green Energy Holding Co. Ltd. announced that the company has signed a contract to supply 96 MW of PV modules to the Jasper PV, located in South Africa's Northern Cape. This solar plant will not only produce clean energy for South African residents, but also create jobs and help to stimulate the local economy. The consortium formed by Iberdrola Ingenieria y Construccion and South African company Group Five has been selected by Jasper Power Company to build the Jasper PV Plant in South Africa, which will be powered by more than 325,000 Yingli YL295P-35b multi-crystalline modules spread across 180 hectares. Yingli Green Energy is the exclusive PV module supplier for this project. This is a significant milestone in the history of Yingli Green Energy as the Jasper PV Solar Plant is one of the solar projects that was developed by a consortium led by SolarReserve and was selected by the South Africa Department of Energy (DOE) in May of 2012 in the second round of bids under the South Africa Renewable Energy Independent Power Producer Procurement Program (REIPPPP). The South Africa DOE awarded the construction of eight PV plants and seven wind farms during the second round of bidding. Iberdrola had selected Yingli Green Energy based on experience of performance yield in existing projects, superb quality and technology leadership. In addition, given that Yingli Green Energy is one of the major crystalline manufacturers to have secured Munich RE's module performance warranty insurance, the project will also be covered under Munich RE's Option Cover. The Option Cover provides greater investment security over the lifetime of the project financing. The Renewable Energy IPP Programme is an ambitious project that will launch a bidding process for a total capacity of 3,725 MW through five rounds. The South African Government recently announced its intention to launch a new renewable energy programme, once the current one has been completed, in order to add another 3,200 MW of clean electricity generation to the grid before 2020. Because of these targets, South Africa has become one of the countries with the potential in the renewable energy sector.