JinkoSolar's Subsidiary, Jinko Solar Co., Ltd., Announces Estimates of Certain Preliminary Unaudited Financial Results for Full Year 2024
JinkoSolar's subsidiary Jiangxi Jinko has released preliminary unaudited financial estimates for full year 2024. The company projects a significant decline in performance, with preliminary unaudited net income attributable to shareholders estimated between RMB80 million to RMB120 million, representing a decrease of 98.39% to 98.92% year-over-year.
Additionally, preliminary unaudited net loss attributable to shareholders, excluding extraordinary gains and losses, is estimated between RMB750 million to RMB1,050 million, marking a decrease of 110.86% to 115.21% year-over-year.
JinkoSolar currently maintains a 58.59% equity interest in Jiangxi Jinko. The company notes that these preliminary results differ from JinkoSolar's consolidated financial results due to different consolidation scopes and accounting standards (PRC GAAP vs US GAAP).
JinkoSolar ha annunciato che la sua sussidiaria Jiangxi Jinko ha pubblicato le stime finanziarie preliminari non verificate per l'intero anno 2024. L'azienda prevede una significativa diminuzione delle prestazioni, con un reddito netto preliminare non verificato attribuibile agli azionisti stimato tra RMB80 milioni e RMB120 milioni, che rappresenta una diminuzione del 98,39% al 98,92% rispetto all'anno precedente.
Inoltre, si stima che la perdita netta preliminare non verificata attribuibile agli azionisti, escludendo guadagni e perdite straordinarie, sia compresa tra RMB750 milioni e RMB1.050 milioni, segnando una diminuzione del 110,86% al 115,21% rispetto all'anno precedente.
Attualmente, JinkoSolar detiene una partecipazione del 58,59% nella Jiangxi Jinko. L'azienda osserva che questi risultati preliminari differiscono dai risultati finanziari consolidati di JinkoSolar a causa di diverse scelte contabili e ambiti di consolidamento (PRC GAAP vs US GAAP).
JinkoSolar ha anunciado que su subsidiaria Jiangxi Jinko ha publicado estimaciones financieras preliminares no auditadas para el año completo 2024. La compañía proyecta una disminución significativa en el rendimiento, con un ingreso neto preliminar no auditado atribuible a los accionistas estimado entre RMB80 millones y RMB120 millones, lo que representa una disminución del 98,39% al 98,92% en comparación con el año anterior.
Además, se estima que la pérdida neta preliminar no auditada atribuible a los accionistas, excluyendo ganancias y pérdidas extraordinarias, esté entre RMB750 millones y RMB1.050 millones, marcando una disminución del 110,86% al 115,21% en comparación con el año anterior.
Actualmente, JinkoSolar mantiene un interés de capital del 58,59% en Jiangxi Jinko. La compañía señala que estos resultados preliminares difieren de los resultados financieros consolidados de JinkoSolar debido a diferentes ámbitos de consolidación y normas contables (PRC GAAP vs US GAAP).
JinkoSolar의 자회사인 Jiangxi Jinko가 2024년 전체에 대한 미감사 재무 예측을 발표했습니다. 회사는 성과가 크게 감소할 것으로 예상하며, 주주에게 귀속되는 미감사 순이익은 RMB8000만에서 RMB1억2000만으로 추정되어, 전년 대비 98.39%에서 98.92% 감소할 것으로 보입니다.
또한, 특별한 이익과 손실을 제외한 주주에게 귀속되는 미감사 순손실은 RMB7억5000만에서 RMB10억5000만으로 추정되어, 전년 대비 110.86%에서 115.21% 감소한 것으로 나타났습니다.
현재 JinkoSolar는 Jiangxi Jinko의 58.59%의 지분을 보유하고 있습니다. 회사는 이러한 초기 결과가 JinkoSolar의 연결 재무 결과와 다르다고 언급하며, 이는 서로 다른 연결 범위와 회계 기준(PRC GAAP 대 US GAAP) 때문입니다.
JinkoSolar a annoncé que sa filiale Jiangxi Jinko a publié des estimations financières préliminaires non auditées pour l'exercice complet 2024. La société prévoit un déclin significatif de sa performance, avec un revenu net préliminaire non audité attribuable aux actionnaires estimé entre 80 millions RMB et 120 millions RMB, représentant une diminution de 98,39 % à 98,92 % par rapport à l'année précédente.
De plus, la perte nette préliminaire non auditée attribuable aux actionnaires, hors gains et pertes extraordinaires, est estimée entre 750 millions RMB et 1 050 millions RMB, marquant une diminution de 110,86 % à 115,21 % par rapport à l'année précédente.
Actuellement, JinkoSolar détient une participation de 58,59 % dans Jiangxi Jinko. La société souligne que ces résultats préliminaires diffèrent des résultats financiers consolidés de JinkoSolar en raison de différents champs de consolidation et normes comptables (PRC GAAP contre US GAAP).
JinkoSolar hat bekannt gegeben, dass ihre Tochtergesellschaft Jiangxi Jinko vorläufige, nicht geprüfte Finanzschätzungen für das Gesamtjahr 2024 veröffentlicht hat. Das Unternehmen rechnet mit einem erheblichen Leistungsrückgang, wobei das vorläufige, nicht geprüfte Nettoergebnis, das den Aktionären zuzurechnen ist, zwischen RMB80 Millionen und RMB120 Millionen geschätzt wird, was einen Rückgang von 98,39% bis 98,92% im Vergleich zum Vorjahr darstellt.
Darüber hinaus wird der vorläufige, nicht geprüfte Nettoverlust, der den Aktionären zuzurechnen ist und außergewöhnliche Gewinne und Verluste ausschließt, zwischen RMB750 Millionen und RMB1.050 Millionen geschätzt, was einen Rückgang von 110,86% bis 115,21% im Vergleich zum Vorjahr darstellt.
JinkoSolar hält derzeit eine Beteiligung von 58,59% an Jiangxi Jinko. Das Unternehmen weist darauf hin, dass diese vorläufigen Ergebnisse von den konsolidierten Finanzergebnissen von JinkoSolar abweichen, da unterschiedliche Konsolidierungsbereiche und Rechnungslegungsstandards (PRC GAAP vs US GAAP) bestehen.
- None.
- Net income projected to decrease by 98.39-98.92% year-over-year
- Expected net loss of RMB750-1,050 million excluding extraordinary items
- Significant decline in financial performance with 110.86-115.21% decrease year-over-year
Insights
The preliminary results from Jiangxi Jinko reveal a dramatic deterioration in financial performance. The estimated net income of
The magnitude of this decline suggests fundamental issues in the solar module market, likely stemming from intense pricing pressure and overcapacity in the industry. With JinkoSolar holding a
The shift from substantial profits to operational losses, particularly when excluding extraordinary gains, signals potential structural challenges in maintaining profitability amid aggressive industry competition and possible margin compression. For investors, this raises serious concerns about the company's ability to maintain market share without sacrificing profitability.
The solar industry is experiencing a profound market correction. These results reflect broader industry dynamics where manufacturers are caught between rising production capacity and declining ASPs (Average Selling Prices). The stark reversal in Jiangxi Jinko's performance mirrors the challenges faced by major solar players in maintaining profitability during this period of market adjustment.
The distinction between reported net income and results excluding extraordinary items suggests significant non-operational gains masking underlying business challenges. This pattern often indicates companies relying on one-time items or financial engineering to maintain positive reported earnings, which isn't sustainable long-term.
For context, think of this as a pressure cooker situation: manufacturers have ramped up capacity (increasing pressure), while prices are falling (reducing steam release), creating an unsustainable environment that must eventually find a new equilibrium. This correction could trigger industry consolidation, potentially reshaping the competitive landscape.
SHANGRAO,
For the year ended December 31, 2024, (i) preliminary unaudited net income attributable to shareholders of Jiangxi Jinko is estimated to be in the range of
The preliminary unaudited financial results for Jiangxi Jinko for full year 2024 included in this press release (the "Jiangxi Jinko Preliminary Unaudited Financial Results") differ from JinkoSolar's consolidated financial results (the "Consolidated Financials"), due to (i) the consolidation scope of the Jiangxi Jinko Preliminary Unaudited Financial Results differing from that of the Consolidated Financials as the former are prepared solely for Jiangxi Jinko, whereas the Consolidated Financials also include financial statements from JinkoSolar and its other subsidiaries, and (ii) differences in accounting standards and principles used to prepare the Jiangxi Jinko Preliminary Unaudited Financial Results and the Consolidated Financials. Specifically, the Jiangxi Jinko Preliminary Unaudited Financial Results are prepared in accordance with PRC GAAP, whereas the Consolidated Financials are prepared in accordance with accounting principles generally accepted in
JinkoSolar currently owns approximately
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
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
View original content:https://www.prnewswire.com/news-releases/jinkosolars-subsidiary-jinko-solar-co-ltd-announces-estimates-of-certain-preliminary-unaudited-financial-results-for-full-year-2024-302354280.html
SOURCE JinkoSolar Holding Co., Ltd.
FAQ
What is JinkoSolar's (JKS) projected net income range for 2024?
How much did JKS's net income decline in 2024 compared to previous year?
What is JKS's expected net loss excluding extraordinary items for 2024?
What percentage of Jiangxi Jinko does JinkoSolar (JKS) own?
