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Yingli guides up to 3.9GW in 2015 as global module crown slips

China’s Yingli Solar posted a $209.5m loss for 2014 as it reported full-year shipments of 3.36GW – the latter figure formally confirming that it has lost the crown of global number-one module supplier to compatriot Trina Solar.

Yingli’s full-year net loss was an improvement on the $321.2m deficit it posted for 2013, but the company remains in the red while other major PV manufacturers have returned to profit – including Trina, which claimed the global top spot with 2014 shipments of 3.66GW.

But Yingli did manage to narrow its net loss in the final quarter of 2014 to $88.7m from a year-earlier $128.2m.

Yingli’s full-year revenues came in broadly flat at $2.1bn.

Investors slammed Yingli's New York-listed shares on the results, with the company's share price down by nearly 15% by mid-afternoon.

For 2015 Yingli expects module shipments in the range of 3.6GW to 3.9GW, including 400MW-600MW to its own downstream developments.

Those figures are far lower than Trina’s guidance of 4.4GW-4.6GW, and also behind Canadian Solar's estimates, which are in a band of 4GW-4.3GW.

But Yingli claimed its performance last year means it is still well-placed to take advantage of a growing PV market in 2015, especially in China.

CEO Liansheng Miao said: "We are pleased to conclude another solid year in 2014, with full year module shipments hitting a record high of 3.3GW and full year gross margin increasing to 17.3% from 10.9% in 2013, which was mainly attributable to our continuous efforts to diversify our market presence, reduce manufacturing cost and improve our profitability.”

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