Chinese solar panel manufacturer Yingli Green Energy Holding Co. Ltd. announced total net revenues of CNY 1,678.7 million ($252.3 million), compared to CNY 3,173.6 million in the second quarter of 2017 and CNY 1,459.6 million in the third quarter of 2016. Total PV module shipments were 597.7 MW, compared to 1,146.6 MW in the second quarter of 2017 and 365.3 MW in the third quarter of 2016.

According to the company, the decrease of total net revenues from the second quarter of 2017 to the third quarter of 2017 was primarily due to the decrease of PV module shipments from 1,146.6 MW to 597.7 MW mainly as a result of the decline of market demand in China due to the feed-in-tariff reduction after June 30, 2017, as well as the decrease of average selling price of the Company's PV modules.

Gross profit was CNY 26.5 million ($4.0 million) in the third quarter of 2017, compared to CNY 53.5 million in the second quarter of 2017 and CNY 80.3 million in the third quarter of 2016. Net loss was CNY 2,344.0 million ($352.3 million) in the third quarter of 2017, compared to net loss of CNY 297.6 million in the second quarter of 2017 and net loss of CNY 335.4 million in the third quarter of 2016.

The company expects its PV module shipments to be in the estimated range of 700 MW to 800 MW for the fourth quarter of 2017 and raises its full year PV module shipments guidance to 2.8 to 2.9 GW from previous 2.5 to 2.8 GW.