Boston, MA, 11/13/2013 (wallstreetpr) – The management of the largest solar panel maker, Yingli Green Energy Hold. Co. Ltd (ADR) (NYSE:YGE) recently, announced that the company has fell in the last two weeks due to the loss experienced during the third quarter.
The American Depository Receipts belonging to Yingli Green Energy Holding Co. Ltd dropped by 11% to about $6.20 at the close in the New York. Each of the ADR is worth one of the ordinary share.
During the third quarter, the company reported a net loss of around $38.5 million or 25 cents an ADR which is compared to the net loss of around $153 million or 99 cents during the same quarter last year. Moreover, after excluding some of the expenses which includes amortization and provisions of some of the intangible assets, the 24 cent loss has exceeded the 22 cent average of estimations provided by 5 analysts.
The management of Yingli Green Energy Holding Co. Ltd reassured their 2013 panel shipment forecast of 3.2 giga watts to 3.3 giga watts. This would prove to be a gain of 44% as compared to the last year.
The management of the Yingli Green Energy Holding Co. Ltd also announced their third quarter results recently. Apart from experiencing a loss during the third quarter, the company has witnessed continuous growth in demand from the United States of America, Japan and China. With the shift in demand, the company is going to expand geographically. The gross margin during the third quarter has improved to 13.7% which was only 11.8% during the second quarter. The improvement in the gross margin is a result of keeping focus on bringing down the costs, positive impact from the downstream business initiative and also stabilized average selling price.
