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Yingli Green Energy swings profit to loss in Q4

Mar. 2, 2012 (China Knowledge) - Yingli Green Energy Holding Co Ltd<YGE>, one of the world's largest vertically integrated photovoltaic product manufacturers in China, saw its net loss reached RMB 3.77 billion or US$599.4 million in the fourth quarter of 2011, whereas it reaped RMB 522 million in net profit in 2010.

Loss per American Depositary Share for the fourth quarter was RMB 24.37, while non-GAAP loss per ADS was RMB 0.82.

In the reporting period, the New York-listed firm's operating revenue reached RMB 2.57 billion. Gross profit totaled RMB 77.3 million with gross margin of 3%.

For the whole year of 2011, the company's net loss stood at RMB 3.21 billion, and its loss per ADS was RMB 20.46. On a non-GAAP basis, however, the company reaped RMB 773.7 million in net profit last year with diluted earnings per ADS were RMB 4.81.

Operating revenue amounted to RMB 14.68 billion last year. Gross profit was RMB 2.45 billion with gross margin of 16.7%.

Yingli Green Energy saw its PV module shipment increased by 51.1% year over year to 1.6 gigawatts.

The clean energy supplier also expects its PV module shipment to be in the range of 2.4 GW to 2.5 GW this year, reflecting a year-on-year increase of 49.6% to 55.9%.

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