JinkoSolar Once Again Tops PV Tech's ModuleTech Bankability Report with AAA Rating

Rhea-AI Summary

JinkoSolar Holding Co., (NYSE: JKS) has once again topped the PV Tech 2024 Q2 ModuleTech Bankability Report with an AAA rating. The company's consistent high ratings are attributed to its substantial module shipments and strong financial health. In Q1 2024, JinkoSolar's subsidiary reported total revenue of 23.083 billion RMB and net profit of 1.176 billion RMB.

JinkoSolar's focus on innovation has led to 26 record-breaking achievements in cell conversion efficiency and module power output. The company's N-type Tiger Neo series has gained global recognition, being delivered to over 4000 customers in more than 140 countries. JinkoSolar aims to continue enhancing its technological capabilities and product competitiveness to support the global energy transition.

Positive

• Achieved AAA rating in PV Tech 2024 Q2 ModuleTech Bankability Report
• Leading in accumulated global module shipments
• Q1 2024 revenue of 23.083 billion RMB
• Q1 2024 net profit of 1.176 billion RMB
• 26 record-breaking achievements in cell conversion efficiency and module power output
• N-type Tiger Neo series delivered to over 4000 customers in 140+ countries

Negative

• None.

Financial Analyst

JinkoSolar’s consistent high bankability ratings (AA or AAA) reflect its strong financial health and significant market presence. The latest Q2 ModuleTech Bankability Report positioning JinkoSolar at the top further underscores its robustness. Such ratings are pivotal for attracting institutional investors, as they signify a lower risk profile and reliability in financial performance.

In the first quarter of 2024, JinkoSolar reported 23.083 billion RMB in total revenue and a net profit attributable to shareholders of 1.176 billion RMB. This financial performance is indicative of the company's strong revenue generation and profitability, essential metrics for evaluating the firm’s overall financial viability and potential for future growth.

For retail investors, while these numbers and ratings suggest stability, it’s important to remain mindful of broader market trends in the solar industry, such as regulatory changes and technological advancements, which can impact future performance.

Tech Expert

JinkoSolar’s innovation in solar technology is noteworthy. The company has set industry benchmarks by breaking records for cell conversion efficiency and module power output 26 times. The emphasis on TOPCon cells and the success of the N-type Tiger Neo series highlight JinkoSolar’s commitment to high-efficiency and reliable photovoltaic modules.

For retail investors, understanding the significance of these technological advancements is key. Higher efficiency translates to more energy output per unit area, which is a critical factor for customers and can potentially lead to higher sales and market share. The global delivery of the Tiger Neo series to over 4000 customers across 140 countries reflects the brand’s extensive reach and acceptance.

Continuing innovation in this sector is necessary to maintain a competitive edge, suggesting that JinkoSolar is well-positioned to benefit from the increasing global shift towards renewable energy solutions.

SHANGRAO, China, July 15, 2024 /PRNewswire/ -- JinkoSolar Holding Co., Ltd. (the "Company," or "JinkoSolar") (NYSE: JKS), one of the largest and most innovative solar module manufacturers in the world, today announced that it has topped the PV Tech 2024 Q2 ModuleTech Bankability Report with "AAA" rating. JinkoSolar has once again earned the trust of global investors and customers with its robust R&D capabilities, healthy financial performance, and extensive market coverage.

The Company's Bankability Scores have been consistently rated AA or AAA, mostly due to its sizeable module shipments and relative financial health. At the end of the first half of 2024, JinkoSolar was once again leading the industry in terms of accumulated global module shipments. According to the financial results of its subsidiary Jinko Solar Co., Ltd., for the first quarter 2024, total revenue was 23.083 billion RMB and net profit attributable to shareholders was 1.176 billion RMB.

Innovation has always been at the core of JinkoSolar's development. Through years of continuous R&D breakthroughs, the Company has broken the records for cell conversion efficiency and module power output 26 times. Going forward, JinkoSolar will further improve the efficiency of its TOPCon cells, continuing to set a benchmark for the industry and driving upgrades.

JinkoSolar's commitment to technological innovation and quality control ensures that every photovoltaic module it ships has reliable performance and quality. The N-type Tiger Neo series, known for its high efficiency and reliability, has gained wide recognition globally. As of the second quarter of 2024, Tiger Neo series have been delivered to over 4000 customers in more than 140 countries and regions, making JinkoSolar a truly global brand.

Moving forward, JinkoSolar will continue to enhance its technological capabilities, further pursue innovation, and improve the competitiveness of its products. JinkoSolar aims to provide safer, more economical, and high-quality clean energy solutions to customers worldwide, driving the global energy transition and achieving sustainable, green, and low-carbon development.

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 utility-scale, commercial and residential customers in China, the United States, Japan, Germany, the United Kingdom, Chile, South Africa, India, Mexico, Brazil, the United Arab Emirates, Italy, Spain, France, Belgium, Netherlands, Poland, Austria, Switzerland, Greece and other countries and regions.

JinkoSolar had 14 productions facilities globally, 26 overseas subsidiaries in Japan, South Korea, Vietnam, India, Turkey, Germany, Italy, Switzerland, the United States, Mexico, Brazil, Chile, Australia, Canada, Malaysia, the United Arab Emirates, Denmark, Indonesia, Nigeria and Saudi Arabia, and a global sales network with sales teams in China, the United States, Canada, Brazil, Chile, Mexico, Italy, Germany, Turkey, Spain, Japan, the United Arab Emirates, Netherlands, Vietnam and India, as of March 31, 2024.

To find out more, please see: www.jinkosolar.com

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 U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Among other things, the quotations from management in this press release and the Company's operations and business outlook, contain forward-looking statements. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Further information regarding these and other risks is included in JinkoSolar's filings with the U.S. Securities and Exchange Commission, including its annual report on Form 20-F. Except as required by law, the Company does not undertake any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.

For investor and media inquiries, please contact:

Ms. Stella Wang
JinkoSolar Holding Co., Ltd.
Tel: +86 21-5180-8777 ext.7806
Email:pr@jinkosolar.com

 

View original content:https://www.prnewswire.com/news-releases/jinkosolar-once-again-tops-pv-techs-moduletech-bankability-report-with-aaa-rating-302196753.html

SOURCE JinkoSolar Holding Co., Ltd.

FAQ

What rating did JinkoSolar (JKS) receive in the PV Tech 2024 Q2 ModuleTech Bankability Report?

JinkoSolar (JKS) received an AAA rating in the PV Tech 2024 Q2 ModuleTech Bankability Report, topping the list once again.

How many times has JinkoSolar (JKS) broken records for cell conversion efficiency and module power output?

JinkoSolar (JKS) has broken records for cell conversion efficiency and module power output 26 times through continuous R&D breakthroughs.

What was JinkoSolar's (JKS) revenue and net profit for Q1 2024?

JinkoSolar's (JKS) subsidiary reported total revenue of 23.083 billion RMB and net profit attributable to shareholders of 1.176 billion RMB for Q1 2024.

How many customers and countries has JinkoSolar's (JKS) Tiger Neo series been delivered to as of Q2 2024?

As of Q2 2024, JinkoSolar's (JKS) Tiger Neo series has been delivered to over 4000 customers in more than 140 countries and regions.