Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of solar module maker Yingli Green Energy Hold. Co. Ltd. (ADR) (NYSE:YGE) are up 22% today after announcing a new venture in China.

So what: Yingli and Shuozhou Coal Power Co., Ltd. are forming a joint venture to build solar power plants in China. They've already worked together to build 20 MW worth of projects and this will build on that, although the exact size of the partnership is unknown.  

Now what: Most Chinese solar stocks are up big today so there's a rising tide lifting Yingli along with this news. As for the Shuozhou Coal deal, I think it's an incremental positive but not a game changer for Yingli. The company still has too much debt and needs to make strong operational improvements to make a profit and that's what I'll be looking for in 2014 before buying into this stock.

Fool contributor Travis Hoium has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.