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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) 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.
JinkoSolar (NYSE: JKS) has donated 70 laptops and one year of free internet to Catholic Charities Jacksonville (CCBJAX) to support refugees in Jacksonville, enhancing their access to online English classes. This initiative aims to bridge the digital divide and promote integration for refugees. The donation assists students who lack resources for technology, enabling remote learning during the pandemic. Executives from JinkoSolar, CCBJAX representatives, and local officials participated in a gifting ceremony on October 21, 2021, signifying a commitment to community support.
JinkoSolar (NYSE: JKS) announced its Tiger and Tiger Pro solar module series have achieved carbon footprint verification from TÜV Rheinland, a leading global testing service provider. This certification confirms JinkoSolar's commitment to reducing carbon emissions through improved energy efficiency and lifecycle management. Dr. Hao Jin, CTO of JinkoSolar, emphasized the importance of this achievement in supporting environmentally conscious customers. JinkoSolar has a robust production capacity with 27 GW of mono wafers, 12 GW of solar cells, and 31 GW of solar modules as of June 30, 2021.
JinkoSolar (NYSE: JKS) has achieved a significant milestone by setting a world record for solar conversion efficiency at 25.4% with its N-type monocrystalline silicon solar cell. This breakthrough, confirmed by Japan's JET, marks the fourth world record in one year. Utilizing advanced technologies, including ultrafine line metallization and low absorption materials, the company emphasizes its commitment to innovation and competitive energy solutions. JinkoSolar aims to enhance the affordability and sustainability of clean energy globally.
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