The Chinese company said its gross margins were impacted by lower ASPs and rising material costs, while the decline in net and operating profits was due to higher operating expenses. Shipments and sales, however, grew by 52.4% and 25.5%, respectively.
In reporting its FY 2017 financials, Yingli has again revealed that “substantial doubt exists as to the Company’s ability to continue as a going concern.” It is seeking to agree on a debt restructuring plan with creditors, and is asking them to refrain from initiating bankruptcy proceedings. Overall, it recorded a 2017 net loss of US$510 million and total liabilities of $3.2 billion. It has not issued guidance for this year.
Last year, the Chinese module maker shipped 9.8 GW, and achieved revenue of $4.0 billion. Both gross and net profit, however, declined due to lower ASPs, higher polysilicon prices and increased output from OEM partners.
Only one month after announcing a PERC module efficiency of 20.41%, the Chinese solar manufacturer announced it has now achieved a 23.6% efficiency for its PERC monocrystalline cells, thus beating its own previous records.
Despite approximate 25% fall in solar costs per MWh against 2015, last year saw more than $333 billion invested in clean energy, with global solar deployment figures topping 53 GW, finds new Bloomberg New Energy Finance report.
All forms of renewable energy will be cost competitive with traditional generation sources by 2020. This was one of the key findings in the latest report from the International Renewable Energy Agency (IRENA). It was delivered yesterday at IRENA’s 8th annual Assembly in Abu Dhabi.
Risen Energy Co. Ltd is gearing up to begin production at a new, 5 GW solar PV cell and module manufacturing facility in China. A spokesperson for the company tells pv magazine manufacturing will begin this January 17.
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