Yingli (YGE +6.1%) expects to report 11%-12% Q/Q Q4 module shipment growth, above prior guidance for a mid-to-high single-digit percentage increase. Full-year guidance for module shipments of 3.2GW-3.3GW is being reiterated.
At the same time, Yingli is now forecasting a Q4 gross margin of 12%-13%, below prior guidance of 14%-16% and a Q3 level of 13.7%. The company blames a "year-end tax adjustment" and the unloading of low-efficiency solar cell inventory.
Shares are joining a broader solar stock rally. Full Q4 results arrive on March 18.