Jinko Solar +4% after stronger than expected Q4

• Jinko Slar (JKS +4.1%) is higher following a strong Q4 earnings beat, as module shipments rose 7.9% Q/Q and 1.3% Y/Y to 1,733 MW during Q4 and 6,656 MW for FY 2016, making it the world’s biggest PV module producer.
• JKS says Q4 revenues fell 21% Y/Y to $737M despite increased shipments but the result still exceeded analyst expectations.
• The company forecasts solar module shipments of 1.9-2.0 GW for Q1 and 8.5-9.0 GW for FY 2017.
• JKS also says it received “rush orders” from Chinese developers towards the end of 2016, a trend it expects to continue during H1 2017, and that ASPs in the U.S. have begun to stabilize after a sharp decline during the quarter.