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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 is moving forward with the initial public offering (IPO) of its subsidiary, Jiangxi Jinko, on the Shanghai Stock Exchange's Sci-Tech innovation board. The IPO will issue 2 billion shares, amounting to 20% of Jiangxi Jinko's total shares post-IPO, with a pricing of RMB5.00 per share. Anticipated gross proceeds are approximately RMB10 billion. Following the IPO, JinkoSolar will maintain a 58.62% ownership stake in Jiangxi Jinko. The issuance and subscription are set for January 17, 2022, with final allocations confirmed by January 20, 2022.
JinkoSolar (NYSE: JKS) announced that its subsidiary, Jinko Solar Co., Ltd. (Jiangxi Jinko), is applying for an IPO on the Shanghai Stock Exchange's Sci-Tech innovation board. The updated prospectus outlines plans to issue 2 billion shares, constituting 20% of the total shares post-IPO. A roadshow for potential investors will occur from January 7-11, 2022, with pricing expected on January 13, and the IPO launch on January 17. This move is anticipated to bolster JinkoSolar’s growth, according to CEO Xiande Li.
JinkoSolar Holding Co., Ltd. (NYSE: JKS) announced that its subsidiary, Jinko Solar Co., Ltd., has completed the IPO registration process with the China Securities Regulatory Commission. This allows the subsidiary to enter the issuance process for its IPO on the Shanghai Stock Exchange's Sci-Tech Innovation Board, pending market conditions. Chairman Xiande Li expressed optimism that this move will strengthen JinkoSolar's leadership in the photovoltaic industry. The company has a robust production capacity, including 31 GW for mono wafers and 36 GW for solar modules as of September 30, 2021.
On December 9, 2021, JinkoSolar Holding Co., Ltd. (NYSE: JKS) announced that all resolutions proposed at its 2021 annual general meeting were approved by shareholders. Key approvals include the re-elections of directors Xianhua Li and Steven Markscheid, the ratification of PricewaterhouseCoopers Zhong Tian LLP as auditors for 2021, and authorization for directors to determine auditor remuneration. JinkoSolar continues to be a major player in the solar industry with a vertically integrated capacity of 31 GW for mono wafers, 19 GW for solar cells, and 36 GW for solar modules as of September 30, 2021.
JinkoSolar (NYSE: JKS) has announced a significant partnership with Aldo Solar, Brazil's largest solar distributor, for 2022. This collaboration marks the largest distribution agreement for Distributed Generation (DG) outside China, involving the distribution of approximately 4 million photovoltaic modules, equivalent to 2 GW of installed power. This agreement aims to boost the Brazilian solar market and enhance the availability of JinkoSolar's Tiger Pro panels. Both companies expect to double their business volume in this growing market.
JinkoSolar (NYSE: JKS) reported its Q3 2021 results, achieving revenues of RMB8.57 billion (US$1.33 billion), an 8.1% increase sequentially but a 2.3% decline year-over-year. Gross profit was RMB1.30 billion (US$201.1 million), down 4.6% sequentially and 13.3% year-over-year, with a gross margin of 15.1%. Notably, the company set a world record with a 25.4% efficiency in its N-Type solar cells. Looking ahead, JinkoSolar expects 7.3 to 8.8 GW in total shipments for Q4 2021 and aims for substantial increases in production capacity by year-end.
JinkoSolar Holding Co., Ltd. (NYSE: JKS) will release its unaudited financial results for Q3 2021 on November 30, 2021, before U.S. market opens. A conference call hosted by management will take place on the same day at 7:30 a.m. ET. Participants can dial in using +852 3027 6500 for Hong Kong/International or +1 855-824-5644 for U.S. Toll-Free, using passcode 71417350#. A replay of the call will be accessible from December 7, 2021. For more details, visit JinkoSolar's website.
JinkoSolar Holding Co., Ltd. (NYSE: JKS) will hold its 2021 annual general meeting on December 9, 2021, at 10:00 a.m. Beijing time. Key agenda items include the re-election of directors Xianhua Li and Steven Markscheid, the ratification of PricewaterhouseCoopers Zhong Tian LLP as auditors, and the authorization of directors to determine auditor remuneration. Shareholders of record by November 10, 2021, will be eligible to vote. The full audited financial statements for 2020 are available on JinkoSolar’s website, and hard copies can be requested.
JinkoSolar (NYSE: JKS) announced a RMB450 million investment in Sichuan Yongxiang Energy Technology Co., Ltd. to establish a 100,000 tons annual capacity high-purity polysilicon production line. This investment, which grants JinkoSolar a 15% stake in the Project Company, aims to secure a stable supply of nearly 30,000 tons of polysilicon annually. The strategic move enhances JinkoSolar’s production reliability and supports its long-term goals in the photovoltaic industry, fostering collaboration with supply chain partners.
JinkoSolar (NYSE: JKS) has introduced its new ultra-efficient Tiger Neo modules featuring advanced N-type TOPCon technology. These modules achieve a maximum power output of 620W and a conversion efficiency of 22.30%. With enhancements in power generation, a bifacial factor of 85%, and reduced degradation, they offer long-term reliability backed by a 30-year warranty. The modules' design minimizes internal resistance and improves optical gain, resulting in 3% higher annual energy yield compared to traditional models. JinkoSolar aims to set industry benchmarks with this innovative product.
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