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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 (NYSE: JKS) announced strong financial results for Q4 and the full year 2021, overcoming supply chain challenges. In Q4 2021, total shipments surged to 9,693 MW, resulting in revenues of RMB16.39 billion (US$2.57 billion), a 91.2% sequential increase. Full-year revenues reached RMB40.83 billion (US$6.41 billion), up 16.2% year-over-year. Net income for Q4 was RMB239.5 million (US$37.6 million), a sharp turnaround from a loss the previous year. The company aims to increase production capacity significantly in 2022 and has launched its N-type Tiger Neo modules, which are well-received in the market.
JinkoSolar has entered a project investment cooperation framework agreement with key Chinese government entities to develop a monocrystalline silicon pull rod project in Xining, Qinghai province. The project, which spans two phases, aims for a total annual production capacity of 30 GW and involves a total investment of approximately RMB 10 billion. The first phase will begin construction in April 2022 with a capacity of 20 GW, requiring RMB 7 billion. The second phase, set for 2023-2024, plans for an additional 10 GW production line with a RMB 3 billion investment.
On March 18, 2022, JinkoSolar (NYSE: JKS) announced that its subsidiary, Jiangxi Jinko, has signed an investment framework agreement with the Guangxin District Government in Shangrao, China. The agreement aims to establish a high-efficiency solar module and PV module aluminum frame project with a total investment of approximately RMB10.8 billion. The project will produce 24 GW of solar modules and 100,000 tons of aluminum frames across three phases, with operations expected to commence by December 15, 2022, and full completion targeted for June 15, 2023.
JinkoSolar (NYSE: JKS) will announce its unaudited financial results for Q4 and the full year ending December 31, 2021, before U.S. markets open on March 23, 2022. A conference call will take place the same day at 8:00 a.m. EST (8:00 p.m. Beijing/Hong Kong). Interested parties can join the call using the provided dial-in details. A replay will be available two hours post-call until March 30, 2022. JinkoSolar is a leader in solar module manufacturing, serving a global customer base with a significant production capacity across various regions.
JinkoSolar, a leading solar module manufacturer, has received the 'UGGC Best Practices Sustainability Awards 2021' from UN Global Compact Network China. This award, focused on sustainable large-scale manufacturing, highlights JinkoSolar's dedication to the UN's Sustainable Development Goals (SDGs) and its adherence to the ten principles of the UN Global Compact related to Human Rights, Environment, Labor, and Transparency. VP Dany Qian emphasized the company's commitment to renewable energy and sustainable practices.
JinkoSolar (NYSE: JKS) hosted a dialogue with the UN Global Compact in Beijing, focusing on solar PV technology's role in achieving Sustainable Development Goals (SDGs). CEO Kangping Chen showcased JinkoSolar's advancements in solar technology and its commitment to bridging energy inequality. Ms. Meng Liu of the UN acknowledged JinkoSolar's contributions to renewable energy accessibility, particularly in underdeveloped regions. The discussion highlighted JinkoSolar's efforts in promoting renewable investments and partnerships, reinforcing its dedication to sustainability and job creation.
JinkoSolar Holding Co., Ltd. (NYSE: JKS) announced preliminary unaudited financial results for its subsidiary, Jiangxi Jinko, for the year 2021. Key figures include revenues of RMB40.48 billion and a net income of RMB1.12 billion, with net income excluding extraordinary items at RMB532.3 million. JinkoSolar holds approximately 58.62% equity in Jiangxi Jinko. Investors are cautioned that these results are subject to change and differ from JinkoSolar's consolidated financials, which must be considered for comprehensive analysis.
JinkoSolar (NYSE: JKS) announced that its Tiger Neo Bifacial BDV 570 and BDV 610 modules achieved certification from CERTISOLIS for low carbon footprint values of 448 and 450 KG CO2/KW, respectively. These certifications enable French customers to apply for subsidized electricity tariffs for utility and large C&I rooftop projects. The new modules utilize advanced N-type TOPCon technology, offering efficiencies of 22.30% and power outputs up to 620W, while maintaining a 30-year linear power output guarantee with minimal degradation. This further solidifies JinkoSolar's commitment to green energy production.
JinkoSolar's subsidiary, Jiangxi Jinko, successfully completed its IPO on the Shanghai Stock Exchange, trading under code 688223 on January 26, 2022. The offering consisted of 2 billion shares at RMB5.00 each, raising approximately RMB10 billion. Post-IPO, JinkoSolar retains a 58.62% ownership stake. On its first trading day, Jiangxi Jinko's shares surged by 111% to RMB10.55. This capital access is expected to enhance JinkoSolar's competitiveness in the global photovoltaic market.
JinkoSolar Holding Co., Ltd. (NYSE: JKS) announced that its subsidiary, Jinko Solar Co., Ltd., will be listed on the Shanghai Stock Exchange's Sci-Tech innovation board on January 26, 2022. As one of the largest solar module manufacturers globally, JinkoSolar operates with a robust annual capacity of 31 GW for mono wafers, 19 GW for solar cells, and 36 GW for solar modules as of September 30, 2021. The listing is poised to enhance JinkoSolar's market presence and access to capital.
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