A Q4 beat and fairly healthy guidance weren't able to prevent JinkoSolar (JKS -6.1%) from selling off today. The Chinese solar module vendor expects 2014 shipments of 2.3GW-2.5GW, up from a 2013 level of 1.77GW. Shipments for seasonally weak Q1 are expected to total 440MW-470MW.
533.3MW of modules were shipped in Q4, beating guidance of 500MW-530MW. Gross margin rose to 24.7% from 22.3% in Q3 and a mere 3.8% a year ago.
Jinko says it now has a pipeline of 700MW worth of utility-scale solar projects, and 400MW worth of distributed solar projects. The company connected 108MW of systems to the grid in Q4, and recognized $4.9M in electricity revenue.