In Yingli Solar’s financial results of the second quarter of 2014, the gross profit and gross margin generally remained at the similar lever to the previous quarter and the second quarter of 2013. The net revenues slightly increased, and the PV module shipments showed a quarterly increase. The main reason of the increase was the stronger demand in the global PV markets.

Second Quarter 2014 Consolidated Financial and Operating Summary

• Total net revenues were RMB 3,408.9 million (US$549.5 million).
• Total PV module shipments (including shipments for PV systems) were 887.9MW.
• Overall gross profit was RMB 532.1 million (US$85.8 million), representing an overall gross margin of 15.6%. Gross margin for sales of PV module was 16.2%.
• Operating loss was RMB 85.9 million (US$13.9 million), representing an operating margin of negative 2.5%.
• Net loss was RMB 285.2 million (US$46.0 million) and loss per ordinary share and per American depositary share ("ADS") was RMB 1.64(US$0.26). On an adjusted non-GAAP basis, net loss was RMB 275.0 million (US$44.3 million) and loss per ordinary share and per ADS was RMB 1.58 (US$0.25).
• On an adjusted non-GAAP basis, earnings before interest, tax expenses, depreciation and amortization (EBITDA) were RMB 288.5 million (US$46.5 million).