Based on preliminary data, the Chinese player estimates that its PV module shipments in the quarter were 720-730MW -- "within the range announced in the previous guidance”.
However, overall gross margin in the period would be 6-7%, half the 14.1% in the previous three months and significantly below 16.8% in the fourth quarter of last year.
Yingli ascribes the decline in margins primarily due to lower production utilisation rates.
It
