Shipments of Yingli Green Energy Hold, Trina Solar Limited Exceeded Expectations
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Due to their venture into new markets, Yingli Green Energy Hold. Co. Ltd. (ADR) (NYSE:YGE) and Trina Solar Limited (ADR) (NYSE:TSL), Chinese manufacturers of solar panels are hoping to see higher gross margins and shipments in their second quarter. Both the companies took on South African and Japanese markets that are more profitable in order to reduce their dependence on the local market that doesn’t offer higher profits.
According to June’s last quarter estimates by Trina Solar estimates, the company successfully shipped between 630 and 660 megawatts of its solar panels. The future predictions show an even better shipment forecast of 500 to 530 megawatts of company’s solar panels.
Yingli Green claims that the company’s this year’s current quarter’s shipment has grown by a figure between 23 to 24%. There was also a prediction that its low-to-mid teen percentage would also increase. Both these companies are hoping to see somewhere between 11 or 12% gross margin.
Trina Solar believes that its second quarter revenue will be adversely affected by $8.5 to $9.5 million charged on assets that were not used. The company believes that $8 to $9 million paid for receivable incremental accounts will also damage its second quarter’s revenue.
Yingli Green will reveal its second quarter results on the 30th of August and Trina Solar will do the same on the 20th of August.
In the last trading session, shares of Trina Solar Limited (ADR) (NYSE:TSL) went down by -9.59% ($6.60), whereas shares of Yingli Green Energy Hold. Co. Ltd. (ADR) (NYSE:YGE) also went down by -5.94% ($3.64). Yingli’s traded share volume was 13,083.00.