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JinkoSolar Holding Co., Ltd. (NYSE: JKS) is a global powerhouse in the solar industry, recognized as one of the world's largest and most innovative manufacturers of solar modules. The company boasts a vertically integrated solar product value chain, with a substantial annual capacity: 3.5 GW for silicon ingots and wafers, 3 GW for solar cells, and 6.5 GW for solar modules. JinkoSolar's expansive operations span across 14 production facilities worldwide, including locations in China, Portugal, South Africa, and Malaysia.
Headquartered in Shangrao, China, JinkoSolar provides cutting-edge solar products and comprehensive solutions to a diverse international clientele comprising utility-scale, commercial, and residential customers. The company's product portfolio includes silicon wafers, solar cells, and high-efficiency solar modules, particularly the N-type TOPCon modules. JinkoSolar's advanced technology and continuous innovation have positioned it at the forefront of the photovoltaic (PV) industry. Notably, JinkoSolar's N-type Tiger Neo module series has gained acclaim for its superior performance and reliability.
JinkoSolar's commitment to innovation is underscored by its robust R&D efforts, with over 15,000 employees, including 200 dedicated R&D professionals, working to push the boundaries of solar technology. The company holds more than 3,500 global patents and has achieved numerous breakthroughs, including setting world records for cell conversion efficiency and module performance. Recently, JinkoSolar reported a landmark perovskite tandem solar cell efficiency of 33.24%, further cementing its leadership in PV technology.
Financially, JinkoSolar continues to demonstrate robust growth. The company reported total revenue of RMB 118.68 billion for 2023, marking a 43.55% year-over-year increase. Net profit attributable to shareholders surged by 153.2% to RMB 7.44 billion. In Q1 2024, JinkoSolar's module shipments grew by 53.3% year-over-year to 19.99 GW, with N-type shipments accounting for nearly 80%. The company's strategic focus on expanding its global footprint and enhancing its production capabilities is evident in its extensive network of 26 overseas subsidiaries and numerous sales offices worldwide.
JinkoSolar has also been proactive in addressing challenges and ensuring operational continuity. For instance, following a fire incident at its Shanxi manufacturing facility, the company swiftly implemented contingency plans to minimize disruptions. JinkoSolar remains committed to sustainable development and the promotion of clean energy solutions globally.
With ambitious plans for the future, JinkoSolar expects its annual production capacity for mono wafers, solar cells, and solar modules to reach 120 GW, 110 GW, and 130 GW, respectively, by the end of 2024. The company continues to lead the global transition towards renewable energy, driven by its technological excellence and unwavering commitment to innovation and sustainability.
JinkoSolar (NYSE: JKS) has announced significant changes to its share repurchase program. The Board has approved increasing the program's value from US$200 million to US$350 million and extending its duration through June 30, 2026. As of the announcement, the company had already repurchased approximately US$134.5 million of ADSs under the existing program, leaving about US$215.5 million available for future repurchases.
The company plans to execute these repurchases through various means, including open-market transactions, private negotiations, and block trades, using existing funds and external financing. The program demonstrates JinkoSolar's confidence in its long-term growth, supported by its N-type TOPCon technology and global operations network.
JinkoSolar (NYSE: JKS) has initiated a patent infringement lawsuit against VSUN Solar USA, Toyo Co., and their related entities in the U.S. District Court for the Northern District of California. The lawsuit aims to protect JinkoSolar's intellectual property rights, particularly concerning their proprietary technology. The company holds over 2,800 patents, including 462 patents specifically related to N-type TOPCon technology, positioning them as one of the industry leaders in TOPCon patent holdings.
JinkoSolar and Indigenized Energy announced a significant donation of over 2,000 solar modules to support Tribal Nations across the Midwestern United States. The donation, representing more than 800kW of energy capacity, will benefit the Northern Cheyenne Tribe and Chippewa Cree Tribe in Montana, and the Oglala Sioux Tribe in South Dakota. This initiative builds upon JinkoSolar's previous 300kW donation to the Standing Rock Sioux Tribe in 2019. The projects are connected to Department of Energy grant funding and EPA's Solar For All funding, encompassing both residential and commercial installations.
JinkoSolar (NYSE: JKS) has announced its 2024 annual general meeting, scheduled for December 27, 2024, at 10:00 a.m. (Beijing time) in Shanghai, China. The meeting agenda includes re-election of directors Mr. Xianhua Li and Mr. Steven Markscheid, ratification of Mr. Gang Chu as independent director, and appointment of PricewaterhouseCoopers Zhong Tian LLP as auditors. Only shareholders of record as of November 22, 2024 (New York time) are eligible to vote. The company's 2023 Annual Report and related documents are available on their website.
JinkoSolar reported Q3 2024 financial results with total revenues of RMB24.51 billion (US$3.49 billion), up 1.9% sequentially but down 23.0% year-over-year. Quarterly shipments reached 25,910 MW, including 23,838 MW for solar modules. Gross margin was 15.7%, improving from 11.1% in Q2 2024. Net income was RMB22.5 million (US$3.2 million), recovering from a net loss in Q2. N-type module shipments accounted for ~90% of total module shipments, with mass production efficiency of N-type TOPCon cells reaching 26.2%. The company expects module shipments between 90.0-100.0 GW for full year 2024.
JinkoSolar (NYSE: JKS) has announced it will release its unaudited financial results for the third quarter ended September 30, 2024, before U.S. markets open on Wednesday, October 30, 2024. The company's management will host an earnings conference call at 8:30 a.m. U.S. Eastern Time on the same day. A telephone replay will be available until November 6, 2024, and a webcast will be accessible through the company's Investor Relations website.
JinkoSolar Holding Co., (NYSE: JKS) announced that its subsidiary, Jiangxi Jinko, plans to offer up to 1,000,519,986 A shares as Global Depositary Receipts (GDRs) on the Frankfurt Stock Exchange. Each GDR will represent 10 shares, with the offering not exceeding 10% of Jiangxi Jinko's total share capital. The gross proceeds are expected to be up to RMB4.5 billion, which will be used for:
- Construction of a 1 GW High-efficiency Module Project in the U.S.
- Development of Shanxi Phase II 14 GW Integrated Production Base Project
- Working capital or repayment of bank loans
JinkoSolar's ownership in Jiangxi Jinko will decrease from 58.59% to approximately 53.26% after the offering. The GDR Offering is subject to various approvals and regulatory processes.
JinkoSolar Holding Co., (NYSE: JKS), a leading solar module manufacturer, has announced its participation in the 2024 New York Climate Week. The company's principal operating subsidiary, Jinko Solar Co., , is launching the English version of its first Climate White Paper. This comprehensive report outlines JinkoSolar's commitment to sustainability, strategies to reduce carbon emissions, and steps for creating a greener future.
As a member of the Board of Directors of the Global Solar Council, Jinko Solar Co., is co-hosting a Finance Roundtable discussion on lowering solar PV costs. This event brings together development and commercial banks, industry experts, policymakers, and business leaders to shape the future of climate action.
The Climate White Paper, which covers Jinko Solar Co., and its subsidiaries, is available on the company's website.
JinkoSolar (NYSE: JKS), a leading global solar module manufacturer, has been named the 'Overall Highest Achiever' in Renewable Energy Testing Center's (RETC) 2024 PV Module Index Report for the fifth consecutive year. This prestigious award recognizes JinkoSolar's excellence in reliability, performance, and quality of their solar modules.
The RETC's PVMI, launched in 2019, conducts rigorous beyond-certification bankability tests on modules over a 12-month period. These tests are performed in state-of-the-art laboratories under controlled conditions. The Overall Highest Achiever designation is the top award, providing assurance to project stakeholders about the reliable performance of mass-produced PV products during commercial operations.
Nigel Cockroft, General Manager of JinkoSolar (U.S.), expressed pride in this achievement, highlighting the company's commitment to delivering high-quality, reliable, and high-performing modules. RETC's President & CEO, Cherif Kedir, commended JinkoSolar for its exceptional performance and dedication to excellence in solar manufacturing.
JinkoSolar Holding Co., (NYSE: JKS) has completed the delivery of over 1,000 PV modules to Ohana Hope Village (OHV) in Kahului, Maui. This donation is part of a rapid response housing initiative for families displaced by the August 2023 Maui fire. The village, designed by Hawaii Off Grid Architecture & Engineering and Family Life Center, consists of 16 pods with 88 modular units functioning as distributed microgrids with solar, energy storage, and biodiesel backup generators.
The project aims to create an off-grid, carbon-neutral, and net-zero energy community. JinkoSolar's donation provides free, clean electricity, allowing OHV to allocate more resources to supporting fire survivors in their recovery efforts.
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