Today, Yingli Solar released its financial results for the fourth quarter of 2014 and the full year 2014. Although the company has shipped as much as 3.36GW of solar PV modules, it faces a net loss up to US$209 million in the full year 2014.

According to Yingli Solar’s report, its total net revenue in 4Q14 slightly increased from the previous quarter ended in September 30^th, while the gross profit dropped. The net loss in 4Q14 was US$88.7 million. In terms of performance of the full year 2014, its net loss was US$209 million in spite of the higher PV cell and module shipment compared to FY2013. The foreign currency exchange loss, mainly due to the depreciation of the Euro and Japanese Yen against RMB, may partially account for the loss.

With such a net loss, Mr. Liansheng Miao, Chairman and Chief Executive Officer of Yingli Green Energy, remains positive to the market. He said, "Looking ahead, we believe that the global PV market will continue to grow in 2015, especially after the National Energy Administration of China released the official solar installation target for 2015 of 17.8GW in March 2015. We're encouraged by the good news and well positioned to seize this great opportunity,"

Fourth Quarter 2014 Consolidated Financial and Operating Summary

• Total net revenues were RMB 3,446.5 million (US$ 555.5 million).
• Total PV module shipments (including shipments for PV systems) were 939.2MW.
• Gross profit was RMB 578.7 million (US$ 93.3 million), representing a gross margin of 16.8%.
• Operating loss was RMB 200.0 million (US$ 32.2 million), representing negative 5.8% of operating margin .
• On an adjusted non-GAAP basis, earnings before interest, tax expenses, depreciation and amortization (EBITDA) were RMB 108.3 million (US$ 17.5 million).
• Net loss was RMB 550.0 million (US$ 88.7 million) and loss per ordinary share and per American depositary share ("ADS") was RMB 3.03 (US$ 0.49). On an adjusted non-GAAP basis, net loss was RMB 535.1 million (US$ 86.2 million) and loss per ordinary share and per ADS was RMB 2.94 (US$ 0.47).

Full Year 2014 Consolidated Financial and Operating Summary

• Total net revenues were RMB 12,927.4 million (US$ 2,083.5 million).
• Total PV module shipments (including shipments for PV systems) were 3,361.3 MW.
• Gross profit was RMB 2,238.2 million (US$ 360.7 million), representing a gross margin of 17.3 %.
• Operating loss was RMB 215.2 million (US$ 34.7 million), representing negative 1.7% of operating margin.
• On an adjusted non-GAAP basis, earnings before interest, tax expenses, depreciation and amortization (EBITDA) were RMB 1,114.4 million (US$ 246.1 million).
• Net loss was RMB1,299.8 million (US$ 209.5 million) and loss per ordinary share and per American depositary share ("ADS") was RMB 7.49 (US$ 1.21). On an adjusted non-GAAP basis, net loss was RMB 1,260.6 million (US$ 203.2 million) and loss per ordinary share and per ADS was RMB 7.26 (US$ 1.17)