Yingli Green Energy suffers nearly RMB 400-mln loss in Q2

Aug. 24, 2009 (China Knowledge) - Yingli Green Energy Holding Co Ltd<YGE>, one of the leading vertically integrated photovoltaic product manufacturers in China, posted a loss of RMB 393.7 million or US$57.6 million in the second quarter of this year, compared with RMB 203.9 million of net profit it reaped in the same period of last year.

Loss per American Depository Shares was RMB 3.03 or US$0.44, according to the company's Q2 financial report.

The New York-listed company attributed the loss to an RMB 204.2-million loss from derivative liabilities and RMB 244.8 million it paid for debt extinguishment. Excluding the items, the firm's earnings were RMB 0.91 per share, according to CFO Li Zongwei.

During the reporting period, Yingli Green Energy reaped RMB 1.49 billion or US$219.5 million in revenue, a year-on-year decease of 25%. Gross margin was 18.3%.

The Chinese energy enterprise estimates that its module shipment could reach between 450 megawatts and 500 MW for 2009.