Feb. 23, 2012 (China Knowledge) - Yingli Green Energy Holding Co Ltd<YGE>, one of the leading vertically integrated photovoltaic product manufacturers in China
, said its photovoltaic module shipments for the fourth quarter of 2011 might have dropped 30% sequentially.
Total shipments for last year are expected to reach between 1,580 megawatts and 1,630 MW, the company reaffirmed.
In a statement, the U.S.-listed firm said its gross margin, including the inventory provision, for the fourth quarter will be around 3%, much less than its previous forecast of 10%. Excluding the inventory provision, the gross margin, however, will be about 12%.
Yingli Green Energy expects to record US$361 million in impairment of long-lived assets of its Fine Silicon Co Ltd unit and approximately US$43 million in impairment of goodwill charges for the quarter, sources reported.
In addition, the PV product supplier said it will provide US$135 million of provision on its inventory purchase commitment under long-term supply contracts due to continuing decline in poly-silicon prices.
The company will release its fiscal report for the fourth quarter on Feb. 29.