Solar-panel maker Yingli Green Energy Holding Co. Ltd. seeks to transform itself into a supplier of power charging stations after posting losses for three years in a row, the Economic Information Daily reported Wednesday, citing unnamed sources.
The company replaced Suntech Power Holdings Co. Ltd. as world’s largest solar component supplier in 2012 and grabbed 10 percent of the market in 2013. However, it posted a net loss of 1.94 billion yuan (US$310.7 million) last year, with a debt-to-asset ratio of 79 percent, after a loss of 3.06 billion yuan in 2012 as prices of solar components continued to fall, according to the newspaper.
In its bid to return to profitability, Yingli plans to build charging stations for the domestic and overseas markets this year with a combined capacity of 430 to 650 megawatts after having completed 128 MW in 2013. It expects gross margin in the first quarter to be about three times that of a year earlier, the report said.
Meanwhile, the company expects the global solar market to continue to grow this year, and its solar component shipments to rise 27 percent from 2013, with emerging markets accounting for 40 percent of the total, chief financial officer Wang Yiyu was quoted as saying.
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