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Yingli pre-announces strong Q4 shipments; shares jump

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.

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