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Yingli Green Energy Q2 slightly improved

Staff Writer |
Yingli Green Energy Holding announced its unaudited consolidated financial results for the quarter ended June 30, 2016.

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Total net revenues were RMB2,524.1 million ($379.8 million), compared to RMB2,351.1 million in the first quarter of 2016.

Total photovoltaic (PV) module shipments were 662.0MW, compared to 508.1MW in the first quarter of 2016.

Gross profit and gross margin were RMB460.1 million ($69.2 million) and 18.2% respectively, compared to RMB469.3 million and 20% in the first quarter of 2016. Gross margin on sales of PV modules was 18.1%.

Operating income was RMB158.3 million ($23.8 million), compared to RMB186.4 million in the first quarter of 2016.

On a non-GAAP basis, earnings before interest, tax expenses, depreciation and amortization (EBITDA) were RMB469.5 million ($70.6 million).

Net income was RMB71.8 million ($10.8 million) and earnings per American Depositary Share (each representing ten ordinary shares of the company, the ADS) was RMB4.0 ($0.6).

On an adjusted non-GAAP basis, adjusted net income was RMB106.8 million ($16.1 million), and adjusted income per ADS was RMB5.9 ($0.9).

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