Yingli Green Energy Holding Company Limited announced unaudited consolidated financial and operating results for the first quarter ended March 31, 2016. For the quarter, the company reported total net revenues of RMB 1,238,258,000 against RMB 2,351,050,000 a year ago. Loss from operations was RMB 103,519,000 against profit of RMB 186,445,000 a year ago. Loss before income taxes was RMB 211,015,000 against profit of RMB 80,493,000 a year ago. Net loss attributable to company was RMB 184,447,000 against net income of RMB 79,567,000 a year ago. Loss per basic and diluted share was RMB 1.01 against earnings of RMB 0.44 a year ago. Loss per basic and diluted ADS share was RMB 10.1 against earnings of RMB 4.4 a year ago. EBITDA was RMB 101,299,000 against RMB 483,097,000 a year ago. On an adjusted non-GAAP basis, adjusted net loss and adjusted loss per ADS were RMB 191.9 million and RMB 10.1 respectively, compared to RMB 583.1 million and RMB 32.1 respectively in the fourth quarter of 2016. The decrease of total net revenues from the first quarter of 2016 to the first quarter of 2017 was mainly due to the decrease of PV module shipments from 508.1MW to 370.9MW, primarily as a result of the decrease of PV module shipments to Japan and U.S., as well as the general decline of average selling prices of PV module worldwide.

Based on current market conditions, the Company's current operating conditions, estimated production capacity and forecasted customer demand, the Company expects its PV module shipments to be in the estimated range of 950 MW to 1,050MW for the second quarter of 2017.