Yingli cuts 2014 shipments guidance

Global PV module market-leader Yingli Solar today cut its shipment guidance for the full-year 2014 by up to 600MW.

Releasing second quarter results, the Chinese PV group said it is revising its module shipment target to 3.6GW-3.8GW, including 400MW-600MW for its own developments.

Yingli had previously guided for a 4GW-4.2GW 2014 shipments range.

For the current third quarter, the company guided for 900MW to 1GW.

The company said it was making the revision “based on current market and operating conditions, estimated production capacity and forecasted customer demand”.

Yingli recorded another net loss for the second quarter, posting a deficit of  282.5m yuan ($46m), reduced from 341m yuan in the first quarter and about 321m yuan at the same stage last year.

Revenue was 3.41bn yuan, up from 2.67bn yuan in Q1 and 3.38bn in 2013's Q2.

Shipments in the quarter came in at 888MW, which was within its guidance range.

The second-quarter gross margin was 15.6%, virtually unchanged from the first quarter of the year.