Yingli posts first net profit in almost five years

Yingli Solar recorded its first profit in almost five years in the first quarter of 2016, with net income hitting 79.6m yuan ($12.3m), from a net loss of 1,439m yuan in the preceding three-month period.

15 June 2016 5:40 GMT Updated 25 October 2016 16:05 GMT

By Brian Publicover in Tokyo

The debt-ridden company’s PV module shipments reached 508.1MW, within its preliminary forecast for the quarter and up slightly from the 504.5MW it shipped in the last three months of 2015.

Cumulative global shipments have now surpassed 15GW.

Net revenue rose slightly to 2,351.1m yuan ($364.6m) in the three months to 31 March, from 2,110m yuan in the fourth quarter of 2015.

The Tier-1 supplier recorded a gross profit of 469.3m,

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