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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 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.
JinkoSolar (NYSE: JKS) announced updates regarding the proposed initial public offering (IPO) of its subsidiary, Jiangxi Jinko, on China's STAR Market. The stock listing committee reviewed the application and confirmed that Jiangxi Jinko met all necessary requirements for the IPO. The next step involves a registration process with the China Securities Regulatory Commission. As of June 30, 2021, JinkoSolar boasts a strong vertically integrated capacity of 27 GW for mono wafers, 12 GW for solar cells, and 31 GW for solar modules, operating globally with 9 production facilities and 22 subsidiaries.
JinkoSolar (NYSE: JKS), a leading global solar module manufacturer, has been awarded the 'Top Brand PV USA' seal by EUPD Research. This recognition is based on a survey of U.S. installers, who rated JinkoSolar highly for brand awareness and customer recommendations. The acknowledgment reflects JinkoSolar's commitment to quality and reliability in its products and services. With a significant production capacity of 27 GW for mono wafers, 12 GW for solar cells, and 31 GW for solar modules as of June 30, 2021, JinkoSolar continues to strengthen its position in the renewable energy market.
JinkoSolar is applying for an initial public offering (IPO) for its subsidiary, Jiangxi Jinko, on the Shanghai Stock Exchange's Sci-Tech innovation board. The company's estimated revenues for the nine months ending September 30, 2021, are projected between RMB23.6 billion and RMB23.8 billion, with net income expected between RMB625 million and RMB655 million. JinkoSolar holds approximately 73.28% equity in Jiangxi Jinko, and the forecasts are based on preliminary estimates that may vary. Investors are advised to consider these figures cautiously.
JinkoSolar reported its second quarter 2021 results with total revenues of RMB7.93 billion (US$1.23 billion), down 6.2% year-over-year. The company's gross profit was RMB1.36 billion (US$210.5 million) with a margin of 17.1%. Net income plummeted 79.2% to RMB66.2 million (US$10.3 million) due to convertible notes impacts. However, non-GAAP net income surged 457.4% sequentially to RMB274.7 million (US$42.5 million). Shipments totaled 5,203 MW, reflecting a 16.4% increase year-over-year. The company expects to increase large-size product shipments to 50% in the second half of the year.
JinkoSolar (NYSE: JKS) has announced a strategic cooperation framework agreement with CATL to promote carbon neutrality and develop the solar-plus-storage market. The partnership aims for long-term collaboration in innovation and solutions for integrating solar and energy storage. JinkoSolar's CEO highlighted the synergy of combining their PV technology with CATL's energy storage advancements to create effective solutions globally. Both companies anticipate broadening the solar-plus-storage industry's horizon and leading efforts towards carbon neutrality.
JinkoSolar Holding Co., Ltd. (NYSE: JKS) plans to announce its unaudited financial results for Q2 2021 on September 15, 2021, before U.S. market opening. A conference call will follow at 8:00 a.m. ET on the same day. Interested participants can join via U.S. toll-free number +1 855-824-5644 or Hong Kong line +852 3027 6500, using passcode 44003482#. The call will be available for replay until September 22, 2021. Further details and the live webcast can be accessed on JinkoSolar's website.
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