Yingli Sees Return to Profit as Solar-Panel Demand Gains

Source: Bloomberg
01/08/14, 05:53 AM | Solar & Wind

Yingli Green Energy Holding Co. (YGE), the world’s biggest solar-panel maker, expects to post its first quarterly profit in three years as early as next quarter as demand climbs and cost controls show results.

The Chinese company “will see a gradual rise each quarter” after reporting a “small loss” or breaking even in the first three months of the year, Chief Financial Officer Wang Yiyu said today by telephone.

The forecast indicates increasing optimism that solar-panel makers are recovering from a plunge in prices caused by surplus manufacturing capacity. Trina Solar Ltd. and JinkoSolar Holding Co. (JKS) already have returned to profit. Canadian Solar Inc. (CSIQ), the best-performing stock among peers in the past year, posted its first quarterly net income in more than two years in November.

Yingli’s American depositary receipts increased 8.4 percent to $7.08 at the close in New York, the highest since Oct. 24.

Yingli has surged more than 40 percent this year after agreeing to form a venture with China’s Datong Coal Mine Group to develop solar plants in Shanxi province.

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