Yingli Green Energy (Yingli Solar) has released its unaudited financial results for the second quarter of 2016 on August 8. The company expects to meet a net profit margin of 2.5~3.5% for 2Q16, representing the second sequentially quarter with positive profit.

Yingli Solar had been stocked in continuous losses since the third quarter of 2011, which even brought the company a crisis of going bankrupt. To maintain the business, Yingli Solar has undergone a series of restructuring and finally turned to profit in the first quarter of 2016 with a net income of RMB79.6 million.

The key to end loss, according to Yingli Solar, were higher module shipment volume and more module exports to markets with better prices during 1Q16. Yingli shipped larger portion of modules to Japan than before, and the higher selling prices contributed to the company’s revenues for the first three months.

Based on preliminary data, Yingli’s module shipments (including shipments to the its own downstream PV projects) in 2Q16 were in range of 630~660MW, exceeding its previous guidance of 580~620MW as well as shipments of 508MW in 1Q. However, the estimated gross margin was in range of 17~19%, down from 20% in Q1, because the company delivered higher portion of PV modules domestically for the installation rush before June 30.