Nov 16 Yingli Green Energy Holding Co,
one of China's largest solar equipment makers, forecast lower
shipments and a negative gross margin f o r the third quarter,
citing U.S. anti-dumping duties and low prices.
The company, however, said it expects to reverse a $13.7
million provision it took in the first quarter in relation to
U.S. countervailing and anti-dumping duties.
The United States last week gave final approval to duties on
billions of dollars of solar equipment imports from China,
compounding problems for companies who are already battling a
sharp fall in prices which has virtually erased margins.
The U.S. International Trade Commission, however, rejected a
Commerce Department finding which would have made the duties
retroactive to 90 days.
Yingli Green Energy said this decision enabled it to scrap
the provision it had on its books.
Trina Solar also reversed a $26.2 million provision for
anti-dumping and countervailing duties last week.
Yingli's gross margins are estimated to be in the range of
negative 22 percent to 24 percent in the third quarter, lower
than a positive 4.6 percent in the second quarter.
The company said it expects to recognize non-cash charges
related to inventory and underutilized capacity in the third
Excluding the impact of the charges, Yingli said its module
gross margin would be in the range of breakeven to 1 percent.
Third-quarter module shipments will decrease 17 percent from
the preceding quarter, Yingli said.
Yingli shares, which have lost nearly two-thirds of their
value this year, closed at $1.44 on Thursday on the New York