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Yingli Green swings to losses in Q1

May. 31, 2012 (China Knowledge) - Yingli Green Energy Holding Co Ltd<YGE>, a vertically integrated photovoltaic product manufacturer, has posted RMB 283.2 million-net loss for the first quarter of 2012, compared with net profit of RMB 368.3 million it realized in the same period of 2011.

In the first three months ended Mar. 31, 2012, the U.S.-listed firm's loss per American Depositary Share was RMB 1.82, compared with RMB 2.29 of diluted earnings per ADS it realized in the corresponding period of last year.

On a non-GAAP basis, the company's net loss was RMB 239.5 million in the first quarter of 2012, compared with a net profit of RMB 403.6 million in the same quarter of last year.

Total revenues for the first quarter of 2012 reached RMB 3.15 billion, up 22.6% YoY from RMB 2.57 billion, mainly boosted by increased PV module shipment that resulted from stronger demand in major markets, including Germany and the U.S.

As of Mar. 31, 2012, the company had RMB 4.25 billion in cash, whereas it had RMB 5.61 billion at the end of last year.

For the whole year of 2012, the photovoltaic product supplier expects its PV module shipment to be in the range of 2.4 gigawatts to 2.5 GW, reflecting a YoY increase of 49.6% to 55.9%.

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