Yingli Gains on Higher First-Quarter Solar Shipment Forecast
Yingli Green Energy Holding Co. (YGE), the largest solar-panel maker, rose the most in six weeks after saying first-quarter shipments will exceed its previous forecast.
Yingli’s American depository receipts gained 15 percent to $3.55 at the close in New York, the most intraday since April 9. Each ADR is worth one ordinary share.
Shipments for the quarter will decline about 6 percent to 7 percent from the fourth quarter, compared with a March forecast for a slump in the “low to mid-teen percentage,” Baoding, China-based Yingli said today in a statement.
The company reaffirmed quarterly gross margins will be 4 percent to 4.2 percent. Yingli is scheduled to report first-quarter earnings on May 30.
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