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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 has achieved a significant milestone by setting a new record for solar conversion efficiency at 26.4% with its 182 mm N-type monocrystalline silicon solar cell. This breakthrough, verified by the National Institute of Metrology in China, surpasses their previous record of 26.1%. The Company attributes this success to its dedicated R&D team and innovative technologies. Dr. Jin Hao, CTO, expressed confidence in continued advancements in efficiency and cost-effectiveness, contributing to the clean energy transition.
JinkoSolar (NYSE: JKS) announced it will supply approximately 522 MW of Tiger Neo 78 Cell modules for Phase 1 of the Santa Luzia Complex Project in Paraíba, Brazil. This project, which will eventually generate 1.2 GW of power, has an estimated investment of BRL 4.1 billion and will create 750 direct jobs. The shipment of modules for Phase 1 began in November 2022 and is expected to complete by May 2023, with commercial operations starting in January 2024. The partnership with Rio Alto Energies Renováveis enhances project reliability and reflects Brazil's commitment to renewable energy.
JinkoSolar Holding Co. (NYSE: JKS) will hold its 2022 annual general meeting on December 28, 2022, at 10:00 a.m. Beijing time. Key agenda items include the re-election of directors Kangping Chen and Haiyun Cao, and ratification of PricewaterhouseCoopers as auditors for fiscal year 2022. Only shareholders of record as of November 28, 2022, are eligible to vote. The notice and the 2021 Annual Report are available on the company’s website. JinkoSolar is a leading global solar module manufacturer with extensive international operations.
JinkoSolar (NYSE: JKS) announced a significant achievement with its 182 mm N-type module reaching a maximum solar conversion efficiency of 23.86%, surpassing its previous record of 23.53% set in July 2021. This breakthrough was validated by TÜV Rheinland, showcasing the effectiveness of JinkoSolar's TOPCon cell technology and advanced manufacturing techniques. The innovative design reduces internal resistance loss, paving the way for mass production of high-efficiency solar products. JinkoSolar aims to lead the solar industry with its N-type technology, enhancing product reliability and efficiency to meet market demands.
JinkoSolar (NYSE: JKS) reported strong financial results for Q3 2022, with total revenues of RMB19.52 billion (US$2.74 billion), up 127.8% year-over-year. Quarterly shipments reached 10,856 MW, doubling from the previous year. Notably, net income surged to RMB549.8 million (US$77.3 million), compared to a loss in Q2 2022. The gross margin improved to 15.7%, boosted by higher N-type module shipments. Looking ahead, JinkoSolar anticipates Q4 module shipments between 13.0 GW to 15.0 GW, reflecting robust market demand, while maintaining an optimistic production capacity outlook for 2023.
JinkoSolar's subsidiary, Jiangxi Jinko, reported preliminary unaudited results for the nine months ending September 30, 2022. The net income attributable to shareholders is estimated between RMB1.65 billion and RMB1.70 billion, representing a year-over-year increase of 128.77% to 135.70%. Excluding extraordinary gains and losses, the net income is projected between RMB1.50 billion and RMB1.55 billion, a notable rise of 412.20% to 429.27%. Caution is advised as these figures reflect different accounting standards compared to JinkoSolar's consolidated financials.
JinkoSolar (NYSE: JKS), a leading solar module manufacturer, announced it will disclose its unaudited financial results for Q3 2022 on October 28, 2022, before U.S. markets open. An earnings conference call will follow at 8:00 a.m. ET the same day. Participants can join via phone or listen to a live webcast on JinkoSolar's Investor Relations page. A replay will be available after the call until November 4, 2022. The company is known for its extensive global operations and innovative solar solutions.
JinkoSolar (NYSE: JKS) announced a record-breaking achievement in solar technology, reaching a maximum conversion efficiency of 26.1% for its 182 mm N-type monocrystalline silicon solar cells. This new record, verified by the National Institute of Metrology in China, surpasses its previous record of 25.7% set in April 2022. The company attributes this advancement to innovative technologies, such as interface defect passivation and ultra-thin metallization. JinkoSolar aims to enhance R&D and mass production capabilities to further elevate industry standards.
JinkoSolar (NYSE: JKS) reported strong second-quarter 2022 results with revenues of RMB18.84 billion (US$2.81 billion), a 137.6% increase year-over-year. Shipments reached 10,532 MW, growing by 102.4% from the previous year. Despite this growth, the company faced a net loss of RMB623.3 million (US$93.1 million), primarily due to rising polysilicon prices and increased operating expenses. Gross profit was RMB2.77 billion (US$413.8 million), with a gross margin of 14.7%. For Q3 2022, JinkoSolar expects shipments between 9.0 GW and 10.0 GW.
JinkoSolar (NYSE: JKS) announced power rationing in Sichuan, impacting its production capacity since August 15, 2022. The local government implemented these measures to address regional power shortages, affecting JinkoSolar's operations. The company is taking steps to mitigate the impact, such as increasing output from other manufacturing facilities and engaging with local authorities. However, uncertainty remains regarding the duration of the power rationing and its potential effects on the company's financial performance for 2022.
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