Two Chinese solar power company on Wednesday reported third-quarter loss and forecast the rest of the time demand is still weak solar modules.
Components of the solar power industry has been suffering from low demand and low prices, troubled, Yingli Green Energy Holding Company Limited (Yingli Green Energy Holding Company Ltd.) And REpower Group (ReneSola Ltd.) Indicated that the most recent quarter loss of several million, expected orders remained weak. Several U.S. solar companies last month submitted a Federal Trade lawsuit accusing China of dumping in the global market and drive down prices.
Jiashan’s REpower in China Group, said the recent quarter the company’s American depositary shares fell 9 cents, loss of $ 8.2 million, net income from last year’s $ 358.7 million dropped to $ 189.1 million.
Located in Baoding, China’s Yingli Green Energy Holding Company Limited announced that, in the third quarter of American depositary shares fell 18 cents, or loss of 28.3 million U.S. dollars, quarterly net income of $ 667.7 million, last year was $ 4.909. Total sales for the quarter to $ 659.6 million, exceeding analysts’ forecasts. Lee also reported that the British American depositary shares adjusted net loss of 14 cents, in line with analyst expectations.
Although the results of this, even if the market fell, but the two share price rose. Yingli Green Energy’s shares rose 42 cents, or nearly 12 percent, to close at $ 3.96. REpower Group rose 12 cents, or nearly 7 percent, to close at $ 1.86.
Rest of the year when the market is still difficult. Yingli is expected to reduce the production capacity is expected in fiscal year 2011 total 1,580 MW to 1,630 MW in between, whereas the previous forecast of between 1,700 MW to 1,750 MW. Yingli volume expressed in 49% to 54%, and slightly higher than in 2010.
REpower Group also cut production forecasts, and said it expects solar wafer and solar module shipments between 280MW to 300MW, revenues at about $ 140 million to 150 million dollars, far below analysts’ forecast of $ 200.2 million .
Chinese solar company reported third-quarter loss
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Components of the solar power industry has been suffering from low demand and low prices, troubled, Yingli Green Energy Holding Company Limited (Yingli Green Energy Holding Company Ltd.) And REpower Group (ReneSola Ltd.) Indicated that the most recent quarter loss of several million, expected orders remained weak. Several U.S. solar companies last month submitted a Federal Trade lawsuit accusing China of dumping in the global market and drive down prices.
Jiashan’s REpower in China Group, said the recent quarter the company’s American depositary shares fell 9 cents, loss of $ 8.2 million, net income from last year’s $ 358.7 million dropped to $ 189.1 million.
Located in Baoding, China’s Yingli Green Energy Holding Company Limited announced that, in the third quarter of American depositary shares fell 18 cents, or loss of 28.3 million U.S. dollars, quarterly net income of $ 667.7 million, last year was $ 4.909. Total sales for the quarter to $ 659.6 million, exceeding analysts’ forecasts. Lee also reported that the British American depositary shares adjusted net loss of 14 cents, in line with analyst expectations.
Although the results of this, even if the market fell, but the two share price rose. Yingli Green Energy’s shares rose 42 cents, or nearly 12 percent, to close at $ 3.96. REpower Group rose 12 cents, or nearly 7 percent, to close at $ 1.86.
Rest of the year when the market is still difficult. Yingli is expected to reduce the production capacity is expected in fiscal year 2011 total 1,580 MW to 1,630 MW in between, whereas the previous forecast of between 1,700 MW to 1,750 MW. Yingli volume expressed in 49% to 54%, and slightly higher than in 2010.
REpower Group also cut production forecasts, and said it expects solar wafer and solar module shipments between 280MW to 300MW, revenues at about $ 140 million to 150 million dollars, far below analysts’ forecast of $ 200.2 million .