Yingli forecasts dismal Q3 results, $579m writedown on production assets

Yingli expects to record net revenue of $340m to $350m in the third quarter, down sharply from 2.7bn yuan ($422.7m) in the April-June period, and will likely book a non-cash impairment charge of 3.7bn yuan, primarily because some of its factories have been operating below full capacity.

25 November 2015 16:06 GMT Updated 28 September 2016 9:25 GMT

By Brian Publicover in London

The troubled Chinese manufacturer estimates that it shipped 450MW to 460MW of solar panels in the three months to 30 September, not including PV kit produced under OEM arrangements, according to preliminary results.

The forecast is significantly lower than the 728MW of solar modules it delivered in the second quarter, and below its initial third-quarter guidance for 550MW to 580MW of shipments.

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Yingli forecasts dismal Q3 results, $579m writedown on production assets