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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 Holding Co., Ltd. (NYSE: JKS) announced an approval for a share repurchase program worth up to US$200 million for its ordinary shares through American depositary shares (ADS) over the next 18 months. The repurchase will occur in open-market transactions or privately negotiated deals, based on market conditions. JinkoSolar plans to fund the buyback using existing resources. Chairman and CEO Xiande Li expressed confidence in the company’s growth, attributing it to their strategic investments and integrated capacity structure.
JinkoSolar (NYSE: JKS) has announced its first overseas "RE100 factory" in Malaysia, achieving 100% renewable energy in its production processes. The factory supports a capacity of around 7GW and uses green electricity from utility-scale power purchase agreements. Expected annual power consumption is 335 million kWh, leading to a reduction of about 214,200 tons of CO2 emissions. This milestone highlights JinkoSolar's commitment to sustainability and the renewable energy transition.
JinkoSolar (NYSE: JKS) has signed a significant distribution agreement with Aldo Solar, marking a milestone in the Latin American market. With this deal, Aldo Solar will distribute approximately 600 MW of JinkoSolar's new N-type ultra-efficiency Tiger Neo modules. This agreement positions Brazil as the first market in Latin America for these advanced panels. Pre-sale is expected to begin in July 2022. JinkoSolar continues to innovate within the solar sector, responding to increasing demand for clean energy solutions globally.
On May 13, 2022, JinkoSolar (NYSE: JKS) filed its annual report on Form 20-F for the fiscal year ending December 31, 2021, with the SEC. This report contains audited consolidated financial statements and is available on JinkoSolar's website or the SEC's site. The company offers to provide hard copies of the report to shareholders upon request. JinkoSolar remains a leading solar module manufacturer globally with integrated production capacities of 40.0 GW for mono wafers and solar cells, and 50.0 GW for solar modules as of March 31, 2022.
JinkoSolar (NYSE: JKS) has signed its first European Energy Storage Solution agreement with Memodo GmbH, covering Germany, Austria, and Switzerland for 2022-2023. This exclusive agreement includes a diverse range of products such as all-in-one systems, stackable low-voltage and high-voltage storage systems, as well as hybrid inverters utilizing lithium iron phosphate batteries, compatible with popular inverters. JinkoSolar aims to leverage this partnership to advance its growth in the rapidly expanding distributed generation market in Europe.
JinkoSolar (NYSE: JKS) reported its Q1 2022 results with total revenues of RMB14.76 billion (US$2.33 billion), reflecting a 9.9% sequential decrease but an 85.9% year-over-year increase. Shipments of 8,390 MW were down 13.4% sequentially but up 56.7% year-over-year. The company's gross profit was RMB2.23 billion, down 15.8% sequentially, with a gross margin of 15.1%. Net income dropped to RMB28.9 million, down from RMB239.5 million in Q4 2021. Despite challenges such as high material costs and pandemic effects, JinkoSolar maintains its 2022 shipment guidance and aims to expand N-type cell production capacity.
JinkoSolar Holding Co., Ltd. (NYSE: JKS) has achieved a new world record in solar technology with a maximum conversion efficiency of 25.7% for its 182 mm N-type monocrystalline silicon solar cell, surpassing the previous record of 25.4%. This milestone was confirmed by the National Institute of Metrology in China. The innovative cell incorporates advanced technologies and material upgrades, positioning JinkoSolar as a leader in the solar market. The company continues to invest in technology for cost-effective mass production and aims to enhance its competitive edge.
JinkoSolar Holding Co., Ltd. (NYSE: JKS) announced preliminary unaudited financial results for Q1 2022. The company estimates net income attributable to shareholders of Jiangxi Jinko between RMB 380.0 million and RMB 420.0 million, marking a sequential increase of RMB 138.9 million to RMB 178.9 million, and a year-over-year rise of 57.63% to 74.22%. Excluding extraordinary items, net income is expected between RMB 280.0 million and RMB 320.0 million, with a staggering year-over-year growth of 261.46% to 313.09%.
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