Yingli Green cuts profit fore­cast for Q3

China Daily (USA) - - BUSINESS -

Yingli Green En­er­gyHold­ing Co slashed its fore­cast for profit in the third quar­ter, say­ing its fac­to­ries were work­ing less than pre­vi­ously ex­pected and be­cause of a pro­vi­sion for its in­ven­tory that it plans to record. The Chi­nese man­u­fac­turer said it ex­pects an over­all gross mar­gin of 5 per­cent to 6 per­cent in the third quar­ter, ac­cord­ing to a state­ment onMon­day. That’s lower than the 12.5 per­cent to 14 per­cent it had ex­pected as re­cently as Au­gust.

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