* Cuts 2014 shipment forecast to 3.6-3.8 GW from 4-4.2 GW
* Expects lower selling prices in second half
* Q2 adj loss/share $0.26 vs est of $0.14
* Revenue $549.5 mln vs est $588 mln
* Shares fall as much as 9.6 pct
(Adds executive and analyst comments, details, background;
By Shubhankar Chakravorty
Aug 27 Yingli Green Energy Holding Co Ltd
reported a bigger-than-expected quarterly loss and cut
its forecast for 2014 panel shipments, faced with steep U.S.
Shares of Yingli, the world's biggest solar panel maker by
volume, fell as much as 9.6 percent in morning trading.
The company, whose panels powered the Maracana stadium in
Brazil during the 2014 Fifa World Cup final, said it now expects
to ship 3.6-3.8 gigawatts (GW) of panels this year, down from
its earlier forecast of 4-4.2 GW.
Yingli expects the United States to account for only a tenth
of total shipments this quarter, down from a quarter in the
first quarter ended March.
The company faces a combined U.S. tariff of 42.33 percent,
much higher than the industry average of about 31 percent.
Tariffs vary depending on the U.S. Department of Commerce's
evaluation of a company "dumping" practices.
The United States extended duties on China-made solar
products to those made in Taiwan last month, after several
Chinese solar companies moved manufacturing there.
Demand was robust in China, where shipments doubled in the
second quarter from the first.
China is going to be a very important market for Yingli's
shipment growth, S&P Capital IQ analyst Angelo Zino said.
But margins would likely shrink if Yingli relies too much on
the domestic market, where prices are among the lowest globally.
Chief Financial Officer Yiyu Wang said he expected average
selling prices to fall in the second half of the year from
The company, which has lost money in 12 quarters in a row,
said it was opening offices and expanding in South America,
Europe, Japan and the United Kingdom.
The company forecast shipment of 900-1,000 MW for the third
quarter ending September. It shipped 887.9 MW in the second
quarter ended June 30 - up almost 41 percent from the first.
Overall gross margin increased to 15.6 percent from 11.8
percent a year earlier, helping narrow net loss to $46 million,
or 26 cents per American depositary share (ADS), from $52.3
million, or 33 cents per ADS.
Excluding items, it posted a loss of 26 cents per ADS.
Revenue fell to $549.5 million from $550.4 million.
Analysts on average had expected a loss of 14 cents per
share on revenue of 588 million, according to Thomson Reuters
Baoding-based Yingli's shares were down 4.5 percent at
$3.40, after touching a low of $3.22, on the New York Stock
Exchange on Wednesday. They had fallen 18 percent in the 12
months through Tuesday.
(Editing by Joyjeet Das)