LONDON, UK / ACCESSWIRE / October 5, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on Yingli Green Energy Holding Co. Ltd (NYSE: YGE), which can be viewed by registering at http://protraderdaily.com/optin/'symbol=YGE, following the Company's announcement of its financial results on September 19, 2017, for the second quarter fiscal 2017 (Q2 FY17). The Baoding, China-based Company's total revenues grew year-over-year basis during the reported quarter; outshining market projections. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member's account at:
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Earnings Reviewed
In Q2 FY17, Yingli Green Energy reported total net revenues of RMB3.17 billion ($468.13 million), up from RMB2.52 billion recorded at the end of Q2 FY16. Total net revenues numbers for the reported quarter topped market expectations of $415 million. The year-over-year increase in total net revenues was primarily attributed to increase of PV module shipments from 370.9MW in Q2 FY16 to 1,146.6MW in Q2 FY17. Additionally, net revenues from sales of PV modules increased to RMB 2.95 billion ($434.86 million) in Q2 FY17, from RMB 2.12 billion in Q2 FY16.
The solar power Company reported net loss attributable to attributable to Yingli Green Energy of RMB297.61 million ($43.90 million) in Q2 FY17 versus net income attributable to Yingli Green Energy of RMB71.82 million in Q2 FY16. Non-GAAP net loss came in at RMB322.77 million ($47.61 million) for Q2 FY17 versus non-GAAP net income of RMB106.77 million in Q2 FY16. Furthermore, the Company reported non-GAAP diluted loss per share of RMB1.78 ($0.26) in Q2 FY17 compared to non-GAAP diluted EPS of RMB0.59 in Q2 FY16. Moreover, loss per American Depositary Share (ADS) represented by ten ordinary shares during Q2 FY17 was $2.60 compared to Wall Street's loss per diluted ADS of $2.05.
Operating Metrics
Yingli Green Energy's gross profit increased to RMB53.52 million ($7.89 million) during Q2 FY17 from RMB460.13 million in the past year's comparable quarter. However, gross margin fell in Q2 FY17 to 1.7% from 18.2% in the year-ago comparable quarter. Additionally, the Company attributed the year-over-year fall in gross profit to a lower selling price of the Company's PV module in Q2 FY17.
The Company's total operating expenses was RMB234.34 million ($34.57 million) during Q2 FY17, down from RMB301.87 million in the prior year's same quarter. The Company reported loss from operations of RMB180.83 million ($26.67 million) during Q2 FY17 versus income from operations of RMB158.25 million in the last year's corresponding quarter.
For the reported quarter, the Company's negative EBITDA came in at RMB27.41 million ($4.04 million) compared to positive EBITDA of RMB469.49 million in Q2 FY16. Furthermore, the Company posted comprehensive loss attributable to Yingli Green Energy of RMB250.30 million during Q2 FY17 from RMB6.70 million in Q2 FY16.
Balance Sheet
Yingli Green Energy had cash and restricted cash balance of RMB979.85 million ($144.54 million) as June 30, 2017, compared to RMB854.62 million at the close of books on June 30, 2016. The Company's long-term debt as on June 30, 2017, stood at RMB2.50 billion ($368.44 million) versus RMB2.57 billion as on June 30, 2016. Furthermore, inventories balance as on June 30, 2017, was RMB1.04 billion ($153.36 million) compared to RMB1.53 billion as of June 30, 2016.
Outlook
In its outlook for full-year FY17, Yingli Green Energy revised its total solar module shipments expectations from its previous guidance range of 2.1 GW - 2.2GW to 2.5 GW - 2.8GW. Moreover, the Company projects to ship PV module in the range of 550 MW to 600 MW during Q3 FY17.
Stock Performance
At the closing bell, on Wednesday, October 04, 2017, Yingli Green Energy's stock climbed 3.08%, ending the trading session at $2.34. A total volume of 44.10 thousand shares have exchanged hands. The Company's stock price advanced 2.18% in the previous one month and 4.00% in the last three months. The stock currently has a market cap of $42.05 million.
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