February 21, 2012 / 9:55 PM / 6 years ago

UPDATE 1-Yingli Green Energy sees lower Q4 shipments

Feb 21 (Reuters) - Yingli Green Energy sees a greater-than-expected fall in shipments in the fourth quarter amid a challenging solar market.

The Chinese solar module maker said it expects photovoltaic module shipments to fall by 30 percent from the third quarter. The company had earlier forecast a decrease of low to mid-20s percent.

However, Yingli backed its full-year shipment outlook of 1,580 megawatt to 1,630 megawatt.

The company estimates its fourth-quarter gross margins, including a non-cash inventory provision, to be about 3 percent, lower than its prior outlook of 10 percent.

Excluding the non-cash inventory provision, the company expects gross margins to be 12 percent.

Yingli Shares closed at $4.81 on Tuesday on the New York Stock Exchange.

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