JinkoSolar Announces Third Quarter 2024 Financial Results
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 ha riportato i risultati finanziari del terzo trimestre del 2024, con ricavi totali di RMB24,51 miliardi (US$3,49 miliardi), in aumento dell'1,9% rispetto al trimestre precedente, ma in calo del 23,0% su base annua. Le spedizioni trimestrali hanno raggiunto 25.910 MW, di cui 23.838 MW per moduli solari. Il margine lordo è stato del 15,7%, in miglioramento rispetto all'11,1% del secondo trimestre del 2024. L'utile netto è stato di RMB22,5 milioni (US$3,2 milioni), in ripresa rispetto a una perdita netta nel secondo trimestre. Le spedizioni dei moduli di tipo N hanno rappresentato circa il 90% delle spedizioni totali di moduli, con un'efficienza di produzione di massa delle celle N-type TOPCon che ha raggiunto il 26,2%. L'azienda prevede spedizioni di moduli comprese tra 90,0 e 100,0 GW per l'intero anno 2024.
JinkoSolar reportó los resultados financieros del tercer trimestre de 2024, con ingresos totales de RMB24.51 mil millones (US$3.49 mil millones), un aumento del 1.9% en comparación con el trimestre anterior, pero una caída del 23.0% en comparación con el año anterior. Los envíos trimestrales alcanzaron 25,910 MW, incluyendo 23,838 MW de módulos solares. El margen bruto fue del 15.7%, mejorando desde el 11.1% en el Q2 de 2024. La utilidad neta fue de RMB22.5 millones (US$3.2 millones), recuperándose de una pérdida neta en el Q2. Los envíos de módulos de tipo N representaron aproximadamente el 90% de los envíos totales de módulos, con una eficiencia de producción en masa de células N-type TOPCon alcanzando el 26.2%. La empresa espera envíos de módulos entre 90.0 y 100.0 GW para todo el año 2024.
JinkoSolar는 2024년 3분기 재무 결과를 발표하였으며, 총 수익은 245억 1천만 위안(34억 9천만 달러)으로, 이전 분기 대비 1.9% 증가했지만, 전년 대비 23.0% 감소했습니다. 분기 배송량은 25,910 MW에 달했으며, 이 중 23,838 MW가 태양광 모듈이었습니다. 총 마진은 15.7%로, 2024년 2분기 11.1%에서 개선되었습니다. 순이익은 2250만 위안(320만 달러)으로, 2분기 손실에서 회복되었습니다. N형 모듈의 배송량은 전체 모듈 배송량의 약 90%를 차지하며, N-type TOPCon 셀의 대량 생산 효율성은 26.2%에 도달했습니다. 회사는 2024년 전체 연도에 대해 90.0-100.0 GW의 모듈 배송을 예상하고 있습니다.
JinkoSolar a publié les résultats financiers du troisième trimestre 2024, avec des revenus totaux de 24,51 milliards de RMB (3,49 milliards de dollars US), en augmentation de 1,9 % par rapport au trimestre précédent, mais en baisse de 23,0 % par rapport à l'année précédente. Les expéditions trimestrielles ont atteint 25 910 MW, dont 23 838 MW pour des modules solaires. La marge brute était de 15,7 %, en hausse par rapport à 11,1 % au 2ème trimestre 2024. Le bénéfice net était de 22,5 millions de RMB (3,2 millions de dollars US), se remettant d'une perte nette au 2ème trimestre. Les expéditions de modules de type N représentaient environ 90 % des expéditions totales de modules, avec une efficacité de production de masse des cellules N-type TOPCon atteignant 26,2 %. L'entreprise prévoit des expéditions de modules entre 90,0 et 100,0 GW pour l'ensemble de l'année 2024.
JinkoSolar hat die finanziellen Ergebnisse des dritten Quartals 2024 veröffentlicht, mit Gesamterlösen von RMB24,51 Milliarden (US$3,49 Milliarden), was einem Anstieg von 1,9% gegenüber dem Vorquartal, jedoch einem Rückgang von 23,0% im Vergleich zum Vorjahr entspricht. Die Vorräte im Quartal beliefen sich auf 25.910 MW, einschließlich 23.838 MW von Solarmodulen. Die Bruttomarge betrug 15,7%, was eine Verbesserung gegenüber 11,1% im Q2 2024 darstellt. Der Nettoertrag betrug RMB22,5 Millionen (US$3,2 Millionen), was eine Erholung von einem Nettoverlust im Q2 darstellt. Der Versand von N-Typ-Modulen machte etwa 90% der gesamten Modulversendungen aus, und die Effizienz der Massenproduktion von N-type TOPCon-Zellen erreichte 26,2%. Das Unternehmen erwartet für das gesamte Jahr 2024 Modulversendungen zwischen 90,0 und 100,0 GW.
- Gross margin improved to 15.7% from 11.1% in Q2 2024
- Returned to profitability with net income of US$3.2 million vs Q2 loss
- Quarterly shipments increased 2.3% sequentially to 25,910 MW
- N-type modules reached 90% of total module shipments
- TOPCon cell efficiency improved to 26.2%
- Revenue decreased 23.0% year-over-year
- Operating margin declined to 0.3% from 9.4% in Q3 2023
- Adjusted net income fell to RMB103.9M from RMB1.35B in Q3 2023
- Interest-bearing debt increased to RMB36.72B from RMB28.06B in Q2 2024
Insights
Q3 2024 results show mixed performance with significant sequential improvements but year-over-year declines. Total revenues of
Notable achievements include market leadership in module shipments and N-type technology adoption at
Guidance for Q4 module shipments of 22.3-32.3 GW and full-year target of 90-100 GW demonstrates confidence in market position despite current headwinds. The company's focus on cost optimization and technology leadership should help weather near-term industry consolidation.
SHANGRAO,
Third Quarter 2024 Business Highlights
- Leveraging our advantages in N-type TOPCon technology, competitive products, global marketing, and manufacturing footprint, our module shipments ranked first in the industry for both the third quarter and the first three quarters of the year.
- At the end of the third quarter, we became the first module manufacturer in the world to have delivered a total of over 280 GW solar modules.
- N-type module shipments accounted for approximately
90% of our module shipments globally in the third quarter. - The mass production efficiency of N-type TOPCon cells reached approximately
26.2% . - We published our first Climate White Paper at the 2024 New York Climate Week.
- We were recently recognized as a Tier 1 energy storage provider by Bloomberg New Energy Finance.
Third Quarter 2024 Operational and Financial Highlights
- Quarterly shipments were 25,910 MW (23,838 MW for solar modules, and 2,072 MW for cells and wafers), up
2.3% sequentially, and up14.7% year-over-year. - Total revenues were
RMB24.51 billion (US ), up$3.49 billion 1.9% sequentially and down23.0% year-over-year. - Gross profit was
RMB3.86 billion (US ), up$549.4 million 44.0% sequentially and down37.1% year-over-year. - Gross margin was
15.7% , compared with11.1% in Q2 2024 and19.3% in Q3 2023. - Net income attributable to JinkoSolar Holding Co., Ltd.'s ordinary shareholders was
RMB22.5 million (US ), compared with net loss attributable to JinkoSolar Holding Co., Ltd.'s ordinary shareholders of$3.2 million RMB100.7 million in Q2 2024 and net income attributable to JinkoSolar Holding Co., Ltd.'s ordinary shareholders ofRMB1.32 billion in Q3 2023. - Adjusted net income attributable to JinkoSolar Holding Co., Ltd.'s ordinary shareholders was
RMB103.9 million (US ), which excluded the impact from (i) a change in fair value of the convertible senior notes, (ii) a change in fair value of long-term investments, (iii) share based compensation expenses, (iv) the net loss resulting from a fire accident at one of our production bases in$14.8 million Shanxi Province in April 2024 (the "Fire Accident") and (v) the impairment of long-lived assets, compared with adjusted net income attributable to JinkoSolar Holding Co., Ltd.'s ordinary shareholders ofRMB378.5 million in Q2 2024 andRMB1.35 billion in Q3 2023. - Basic and diluted earnings per ordinary share were
RMB0.11 (US ) and$0.02 RMB0.11 (US ), respectively. This translates into basic and diluted earnings per ADS of$0.02 RMB0.44 (US ) and$0.06 RMB0.44 (US ), respectively.$0.06
Mr. Xiande Li, JinkoSolar's Chairman and Chief Executive Officer, commented, "While earnings were under pressure across the industry during the quarter, we achieved relatively outstanding results leveraging our leading position in N-type TOPCon technology, competitive products, as well as our global sales and manufacturing networks. Imbalance between supply and demand led to continuous price decline in the end market, causing losses to almost the whole industrial chain. As we worked to balance utilization rates, shipments and profitability, prices in the third quarter were stable sequentially, and shipments to the
In September, the newly added installation was 20.89 GW in
We further consolidated our competitiveness, improving the mass-produced efficiency of our N-type TOPCon cells to nearly
As we navigate through cycles, we expect that the leading enterprises in our industry will emerge ahead thanks to their superior cost control, extensive sales networks, and effective cash flow management. In the long term, they will continue to benefit from continuous investments in R&D and expansion of their global capabilities. We will continue to focus on balancing market structure and profit margin levels and we expect module shipments to be between 90.0 GW to 100.0 GW for full year 2024. We will also continue to optimize our assets and liabilities structure, as well as turnover efficiency, further strengthening our resilience to risks.
Third Quarter 2024 Financial Results
Total Revenues
Total revenues in the third quarter of 2024 were
Gross Profit and Gross Margin
Gross profit in the third quarter of 2024 was
Gross margin was
Income/Loss from Operations and Operating Margin
Income from operations in the third quarter of 2024 was
Operating profit margin was
Total operating expenses in the third quarter of 2024 were
Total operating expenses accounted for
Interest Expenses, Net
Net interest expenses consist of interest expenses of
Net interest expenses in the third quarter of 2024 was
Subsidy Income
Subsidy income in the third quarter of 2024 was
Exchange Loss/Gain and Change in Fair Value of Foreign Exchange Derivatives
The Company recorded a net exchange loss (including change in fair value of foreign exchange derivatives) of
Change in Fair Value of Convertible Senior Notes
The Company issued
Change in fair value of the convertible senior notes was nil in the third quarter of 2024, compared to a gain of
Change in Fair Value of Long-term Investment
The Company invested in certain equity interests in several solar technology companies engaged in the photovoltaic industry chain, which are recorded as long-term investment and reported at fair value with changes in fair value recognized in earnings. As of September 30, 2024, the Company had
The Company recognized a gain from change in fair value of
Other Income/Loss, net
Net other income in the third quarter of 2024 was
Equity in Loss of Affiliated Companies
The Company indirectly holds a
Income Tax Expense
The Company recorded an income tax expense of
Net Loss/Income attributable to Non-Controlling Interests
Net loss attributable to non-controlling interests amounted to
Net Income/Loss and Earnings per Share
Net income attributable to the JinkoSolar Holding Co., Ltd.'s ordinary shareholders was
Excluding the impact from (i) a change in fair value of the convertible senior notes, (ii) a change in fair value of the long-term investment, (iii) share based compensation expenses, and (iv) the net loss resulted from the Fire Accident and (v) the impairment of long-lived assets, adjusted net income attributable to the JinkoSolar Holding Co., Ltd.'s ordinary shareholders was
Basic and diluted earnings per ordinary share were
Financial Position
As of September 30, 2024, the Company had
As of September 30, 2024, the Company's accounts receivables were
As of September 30, 2024, the Company's inventories were
As of September 30, 2024, the Company's total interest-bearing debts were
Third Quarter 2024 Operational Highlights
Solar Module, Cell and Wafer Shipments
Total shipments were 25,910 MW in the third quarter of 2024, including 23,838 MW for solar module shipments and 2,072 MW for cell and wafer shipments.
Operations and Business Outlook Highlights
Fourth Quarter and Full Year 2024 Guidance
The Company's business outlook is based on management's current views and estimates with respect to market conditions, production capacity, the Company's order book and the global economic environment. This outlook is subject to uncertainty on final customer demand and sale schedules. Management's views and estimates are subject to change without notice.
For the fourth quarter of 2024, the Company expects its module shipments to be in the range of 22.3 GW to 32.3 GW.
For full year 2024, the Company estimates its module shipments to be in the range of 90.0 GW to 100.0 GW.
Solar Products Production Capacity
The Company expects its annual production capacity for mono wafer, solar cell and solar module to reach 120.0 GW, 95.0 GW and 130.0 GW, respectively, by the end of 2024.
Recent Business Developments
- In September 2024, JinkoSolar completed its delivery program which provided over 1,000 PV modules to Ohana Hope Village, a rapid response housing initiative in
Kahului ,Maui aimed to provide sustainable housing solutions for families displaced by the August 2023 Maui fire. - In September 2024, JinkoSolar was recognized as an Overall Highest Achiever in Renewable Energy Testing Center's 2024 PV Module Index Report. This marks the fifth consecutive year that JinkoSolar has earned this notable award.
- In September 2024, Jiangxi Jinko participated in the 2024 New York Climate Week, where JinkoSolar officially launched the English version of its first Climate White Paper.
- In October 2024, Jiangxi Jinko announced that it proposes to offer and list up t 1,000,519,986 A shares in the form of GDRs on the Frankfurt Stock Exchange in
Germany . - As of the date of this press release, JinkoSolar has repurchased a total of 5,596,739 ADSs in an aggregate amount of approximately
US in the open market under its share repurchase program announced in July 2022 and the extended share repurchase program announced in December 2023. As of the same date, approximately$134.5 million US of the Company's ordinary shares represented by the ADSs under the extended share repurchase program had not been utilized.$65.5 million
Conference Call Information
JinkoSolar's management will host an earnings conference call on Wednesday, October 30, 2024 at 8:30 a.m.
Please register in advance of the conference using the link provided below. Upon registering, you will be provided with participant dial-in numbers, passcode and unique access PIN by a calendar invite.
Participant Online Registration: https://s1.c-conf.com/diamondpass/10042950-b7e9np.html
It will automatically direct you to the registration page of "JinkoSolar Third Quarter 2024 Earnings Conference Call", where you may fill in your details for RSVP.
In the 10 minutes prior to the call start time, you may use the conference access information (including dial-in number(s), passcode and unique access PIN) provided in the calendar invite that you have received following your pre-registration.
A telephone replay of the call will be available 2 hours after the conclusion of the conference call through 23:59
International: | +61 7 3107 6325 |
U.S.: | +1 855 883 1031 |
Passcode: | 10042950 |
Additionally, a live and archived webcast of the conference call will be available on the Investor Relations section of JinkoSolar's website at http://www.jinkosolar.com.
About JinkoSolar Holding Co., Ltd.
JinkoSolar (NYSE: JKS) is one of the largest and most innovative solar module manufacturers in the world. JinkoSolar distributes its solar products and sells its solutions and services to a diversified international utility, commercial and residential customer base in
JinkoSolar had over 10 productions facilities globally, over 20 overseas subsidiaries in
To find out more, please see: www.jinkosolar.com
Currency Convenience Translation
The conversion of Renminbi into
Safe Harbor Statement
This press release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the
For investor and media inquiries, please contact:
In
Ms. Stella Wang
JinkoSolar Holding Co., Ltd.
Tel: +86 21-5180-8777 ext.7806
Email: ir@jinkosolar.com
Mr. Rene Vanguestaine
Christensen
Tel: +86 178 1749 0483
Email: rene.vanguestaine@christensencomms.com
In the
Ms. Linda Bergkamp
Christensen,
Tel: +1-480-614-3004
Email: linda.bergkamp@christensencomms.com
JINKOSOLAR HOLDING CO., LTD. | |||||||||||||
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS | |||||||||||||
(in thousands, except ADS and Share data) | |||||||||||||
For the quarter ended | For the nine months ended | ||||||||||||
Sep 30, 2023 | Jun 30, 2024 | Sep 30, 2024 | Sep 30, 2023 | Sep 30, 2024 | |||||||||
RMB'000 | RMB'000 | RMB'000 | USD'000 | RMB'000 | RMB'000 | USD'000 | |||||||
Revenues | 31,834,258 | 24,053,049 | 24,508,244 | 3,492,397 | 85,848,419 | 71,605,572 | 10,203,712 | ||||||
Cost of revenues | (25,701,047) | (21,376,366) | (20,652,556) | (2,942,966) | (70,891,519) | (62,338,117) | (8,883,111) | ||||||
Gross profit | 6,133,211 | 2,676,683 | 3,855,688 | 549,431 | 14,956,900 | 9,267,455 | 1,320,601 | ||||||
Operating expenses: | |||||||||||||
Selling and marketing | (1,739,184) | (1,797,061) | (2,172,100) | (309,522) | (4,961,480) | (5,435,558) | (774,561) | ||||||
General and administrative | (1,157,814) | (1,141,307) | (1,175,798) | (167,550) | (3,042,370) | (3,684,972) | (525,104) | ||||||
Research and development | (218,097) | (215,394) | (208,668) | (29,735) | (632,227) | (664,490) | (94,689) | ||||||
Impairment of long-lived assets | (27,912) | (660,964) | (223,588) | (31,861) | (580,662) | (884,552) | (126,048) | ||||||
Total operating expenses | (3,143,007) | (3,814,726) | (3,780,154) | (538,668) | (9,216,739) | (10,669,572) | (1,520,402) | ||||||
(Loss)/income from operations | 2,990,204 | (1,138,043) | 75,534 | 10,763 | 5,740,161 | (1,402,117) | (199,801) | ||||||
Interest expenses | (255,951) | (212,897) | (300,935) | (42,882) | (879,058) | (795,566) | (113,368) | ||||||
Interest income | 107,780 | 107,740 | 98,790 | 14,077 | 467,043 | 301,431 | 42,954 | ||||||
Subsidy income | 64,461 | 885,024 | 431,753 | 61,524 | 620,879 | 1,548,621 | 220,677 | ||||||
Exchange gain/(loss),net | (253,303) | 247,726 | (203,999) | (29,070) | 976,517 | 169,737 | 24,187 | ||||||
Change in fair value of foreign exchange derivatives | (42,474) | 57,250 | (47,912) | (6,827) | (429,628) | 23,052 | 3,285 | ||||||
Change in fair value of Long-term Investment | (130,311) | (144,222) | 30,772 | 4,385 | 312,391 | (168,778) | (24,051) | ||||||
Change in fair value of convertible senior notes | 295,602 | 12,791 | - | - | 123,914 | 323,474 | 46,095 | ||||||
Other income/(loss), net | (25,190) | 157,574 | 73,632 | 10,492 | 36,905 | 1,554,684 | 221,540 | ||||||
Income/(loss) before income taxes | 2,750,818 | (27,057) | 157,635 | 22,462 | 6,969,124 | 1,554,538 | 221,518 | ||||||
Income tax expenses | (403,305) | (24,799) | (148,460) | (21,155) | (1,059,453) | (649,977) | (92,621) | ||||||
Equity in (loss)/income of affiliated companies | (22,937) | (67,644) | (3,389) | (483) | 220,299 | (57,852) | (8,244) | ||||||
Net income/(loss) | 2,324,576 | (119,500) | 5,786 | 824 | 6,129,970 | 846,709 | 120,653 | ||||||
Less: Net (income)/loss attributable to non-controlling | (1,001,203) | 18,847 | 38,960 | 5,552 | (2,711,842) | (293,218) | (41,783) | ||||||
Less: Accretion to reemption value of redeemable non- | - | - | (22,214) | (3,165) | - | (22,214) | (3,165) | ||||||
Net income/(loss) attributable to JinkoSolar | 1,323,373 | (100,653) | 22,532 | 3,211 | 3,418,128 | 531,277 | 75,705 | ||||||
Net income/(loss) attributable to JinkoSolar Holding | |||||||||||||
Basic | 6.42 | (0.48) | 0.11 | 0.02 | 16.73 | 2.54 | 0.36 | ||||||
Diluted | 4.61 | (0.53) | 0.11 | 0.02 | 14.85 | 0.99 | 0.14 | ||||||
Net income/(loss) attributable to JinkoSolar Holding | |||||||||||||
Basic | 25.66 | (1.94) | 0.44 | 0.06 | 66.93 | 10.15 | 1.45 | ||||||
Diluted | 18.46 | (2.12) | 0.44 | 0.06 | 59.38 | 3.96 | 0.57 | ||||||
Weighted average ordinary shares outstanding: | |||||||||||||
Basic | 206,286,879 | 208,076,672 | 204,902,909 | 204,902,909 | 204,273,709 | 209,393,151 | 209,393,151 | ||||||
Diluted | 223,182,957 | 209,869,918 | 204,962,646 | 204,962,646 | 223,117,023 | 213,914,994 | 213,914,994 | ||||||
Weighted average ADS outstanding: | |||||||||||||
Basic | 51,571,720 | 52,019,168 | 51,225,727 | 51,225,727 | 51,068,427 | 52,348,288 | 52,348,288 | ||||||
Diluted | 55,795,739 | 52,467,479 | 51,240,662 | 51,240,662 | 55,779,256 | 53,478,749 | 53,478,749 | ||||||
UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME | |||||||||||||
Net income/(loss) | 2,324,576 | (119,500) | 5,786 | 824 | 6,129,970 | 846,709 | 120,653 | ||||||
Other comprehensive income/(loss): | |||||||||||||
-Unrealized loss on available-for-sale securities | - | - | (973) | - | |||||||||
-Foreign currency translation adjustments | (31,771) | 9,874 | (123,210) | (17,556) | 192,274 | (290,603) | (41,411) | ||||||
-Change in the instrument-specific credit risk | 5,245 | - | - | - | 70,690 | - | - | ||||||
Comprehensive income/(loss) | 2,298,050 | (109,626) | (117,424) | (16,732) | 6,391,961 | 556,106 | 79,242 | ||||||
Less: Comprehensive (income)/loss attributable to non- | (992,475) | 9,056 | 77,293 | 11,014 | (2,747,573) | (262,164) | (37,358) | ||||||
Comprehensive income/(loss) attributable to JinkoSolar | 1,305,575 | (100,570) | (40,131) | (5,718) | 3,644,388 | 293,942 | 41,884 | ||||||
JINKOSOLAR HOLDING CO., LTD. | |||||
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS | |||||
(in thousands) | |||||
Dec 31, 2023 | Sep 30, 2024 | ||||
RMB'000 | RMB'000 | USD'000 | |||
ASSETS | |||||
Current assets: | |||||
Cash,cash equivalents, and restricted cash | 19,069,107 | 22,371,099 | 3,187,856 | ||
Restricted short-term investments and short-term investments | 8,509,257 | 4,429,382 | 631,182 | ||
Accounts receivable, net | 22,958,693 | 19,670,062 | 2,802,961 | ||
Notes receivable, net | 4,090,085 | 3,840,562 | 547,276 | ||
Advances to suppliers, net | 4,565,779 | 3,013,735 | 429,453 | ||
Inventories, net | 18,215,537 | 15,247,446 | 2,172,744 | ||
Foreign exchange forward contract receivables | 103,100 | 72,891 | 10,387 | ||
Prepayments and other current assets, net | 3,430,224 | 5,477,271 | 780,505 | ||
Held-for-sale assets | 2,003,417 | 189,077 | 26,943 | ||
Total current assets | 82,945,199 | 74,311,525 | 10,589,307 | ||
Non-current assets: | |||||
Restricted long-term investments | 1,536,198 | 2,006,350 | 285,903 | ||
Long-term investments | 2,117,628 | 1,703,354 | 242,726 | ||
Property, plant and equipment, net | 41,267,187 | 45,637,079 | 6,503,232 | ||
Land use rights, net | 1,821,012 | 1,840,527 | 262,273 | ||
Intangible assets, net | 569,088 | 327,871 | 46,721 | ||
Right-of-use assets, net | 742,431 | 566,016 | 80,657 | ||
Deferred tax assets | 1,290,004 | 1,580,433 | 225,210 | ||
Advances to suppliers to be utilised beyond one year | 648,377 | 610,575 | 87,006 | ||
Other assets, net | 2,790,567 | 1,485,964 | 211,748 | ||
Available-for-sale securities-non-current | 104,134 | 146,134 | 20,824 | ||
Total non-current assets | 52,886,626 | 55,904,303 | 7,966,300 | ||
Total assets | 135,831,825 | 130,215,828 | 18,555,607 | ||
LIABILITIES | |||||
Current liabilities: | |||||
Accounts payable | 15,475,166 | 11,550,419 | 1,645,922 | ||
Notes payable | 25,690,532 | 13,248,885 | 1,887,951 | ||
Accrued payroll and welfare expenses | 2,798,964 | 2,605,596 | 371,294 | ||
Advances from customers | 6,965,298 | 6,466,944 | 921,532 | ||
Income tax payables | 1,016,039 | 347,519 | 49,521 | ||
Other payables and accruals | 13,448,501 | 17,670,758 | 2,518,063 | ||
Foreign exchange forward derivatives payables | 26,466 | 18,420 | 2,625 | ||
Convertible senior notes | 782,969 | - | - | ||
Lease liabilities - current | 155,931 | 120,299 | 17,142 | ||
Short-term borrowings, including current portion of long-term | 13,583,774 | 8,961,302 | 1,276,975 | ||
Held-for-sale liabilities | 1,117,005 | - | - | ||
Total current liabilities | 81,060,645 | 60,990,142 | 8,691,025 | ||
Non-current liabilities: | |||||
Long-term borrowings | 11,238,806 | 19,907,288 | 2,836,766 | ||
Convertible notes | 4,785,480 | 7,259,667 | 1,034,494 | ||
Accrued warranty costs - non current | 2,145,426 | 2,204,720 | 314,170 | ||
Lease liabilities-noncurrent | 557,136 | 470,711 | 67,076 | ||
Deferred tax liability | 131,506 | 138,391 | 19,721 | ||
Long-term Payables | 2,378,684 | 4,385,993 | 624,999 | ||
Total non-current liabilities | 21,237,038 | 34,366,770 | 4,897,226 | ||
Total liabilities | 102,297,683 | 95,356,912 | 13,588,251 | ||
Mezzanine Equity | |||||
Redeemable non-controlling interests | - | 1,522,214 | 216,914 | ||
SHAREHOLDERS' EQUITY | |||||
Total JinkoSolar Holding Co., Ltd. shareholders' equity | 20,156,434 | 20,117,522 | 2,866,724 | ||
Non-controlling interests | 13,377,708 | 13,219,180 | 1,883,718 | ||
Total shareholders' equity | 33,534,142 | 33,336,702 | 4,750,442 | ||
Total liabilities, mezzanine equity and shareholders' equity | 135,831,825 | 130,215,828 | 18,555,607 | ||
View original content:https://www.prnewswire.com/news-releases/jinkosolar-announces-third-quarter-2024-financial-results-302291448.html
SOURCE JinkoSolar Holding Co., Ltd.
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