Yingli slashes full-year shipment forecast as loss widens

Shares of China’s Yingli Solar plunged Tuesday morning and touched a new all-time low, after the PV giant slashed its shipment forecast for 2015, saying it does not have enough money to run its production lines.

8 September 2015 12:18 GMT Updated 28 September 2016 9:25 GMT

By Karl-Erik Stromsta, New York & Andrew Lee, London

Yingli, which is struggling to service about $2.3bn of debts, now expects to ship 2.5GW-2.8GW of modules this year. The company predicted 3.6GW of shipments when it released its first-quarter financials in June, and 3.9GW as recently as March 2015.

Asked why Yingli is reducing shipments at a time when the global PV market is expanding, chief executive Yiyu Wang pointed to the challenging debt-reduction treadmill the company is currently on.

Yingli

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