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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) achieved a world record in solar cell efficiency with a maximum conversion rate of 25.25% for its large-area N-type monocrystalline silicon solar cells, confirmed by the National Institute of Metrology in China. This marks the third record set by the company since July 2020. The breakthrough results from advanced technologies and material upgrades in the cell fabrication process, paving the way for mass production of N-type TopCon cells. JinkoSolar emphasizes its commitment to R&D and carbon neutrality goals, enhancing its market leadership.
JinkoSolar Holding Co., Ltd. (NYSE: JKS) announced a change in its senior management, appointing Mengmeng (Pan) Li as the new chief financial officer, effective immediately. This change is in response to compliance requirements of the Shanghai Stock Exchange's STAR Market, as JinkoSolar plans to list its subsidiary, Jiangxi Jinko. Former CFO Haiyun (Charlie) Cao resigns but will continue with Jiangxi Jinko. The company believes this management change will not materially affect its business operations.
JinkoSolar (NYSE: JKS) has been awarded the Best HR Strategy of the Year at the Energy HR Summit India 2021, highlighting its effective human resource management amid challenging times. Dr. Suyog V., HR Director, emphasized the company's commitment to fostering a balanced corporate culture and maintaining employee productivity. The award acknowledges JinkoSolar's initiatives to protect its workforce while driving innovation during industry transitions. With a strong focus on employee welfare, the company remains resilient in a competitive market.
JinkoSolar Holding Co., Ltd. (NYSE: JKS) has been recognized as the Top 1 Prestigious Module PV Brand in Vietnam for 2020. The company supplied over 2.5GW of solar modules, securing an 18% market share overall and 36.8% in the utility sector. Vietnam, ranking third globally in new solar capacity, saw a demand for high-efficiency monocrystalline modules. JinkoSolar's Tiger Pro series has become a preferred choice due to its reliability and efficiency. The company emphasizes its commitment to clean energy and superior customer service in Vietnam's rapidly growing economy.
JinkoSolar announced an update to its value-based strategy on May 10, 2021, aiming to integrate social responsibility with profitability. The company emphasizes achieving carbon neutrality and phasing out fossil fuels. Its new slogan, 'Be Your Climate Action Partner,' reflects a commitment to empowering global partners in solar energy innovation. JinkoSolar has built a robust network supporting carbon-neutral pathways and aims to optimize energy use across industries. The strategy addresses the need for companies to incorporate climate goals into their operations, highlighting its dedication to sustainability.
JinkoSolar Holding Co., Ltd. (NYSE: JKS) filed its annual report on Form 20-F for the fiscal year ended December 31, 2020, with the Securities and Exchange Commission on April 28, 2021. The report includes audited consolidated financial statements and is accessible on the company's website. JinkoSolar, a leader in solar module manufacturing, boasts an integrated capacity of 22 GW for mono wafers, 11 GW for solar cells, and 31 GW for solar modules as of December 31, 2020. Shareholders can request a hard copy of the report free of charge.
JinkoSolar (NYSE: JKS) announced its participation in the United Nations Global Compact, a leading corporate sustainability initiative. The company aims to align its operations with ten principles related to human rights, labor, environment, and anti-corruption. Chairman Xiande Li emphasized their commitment to equality and transparency, ensuring a respectful workplace and employee rights across their global operations. Additionally, JinkoSolar is the first solar company to join RE 100, committing to operate on 100% renewable energy. The firm will disclose its progress on these principles, reinforcing its accountability.
JinkoSolar reported its Q4 and full-year results for 2020, showcasing substantial growth in shipments and revenues despite facing challenges. The company became the world's largest PV manufacturer with 70 GW of modules. Q4 shipments reached 5,774 MW, with revenues at $1.44 billion, a slight decline of 1.1% year-over-year, while gross profit fell by 12.9% to $230.9 million. For 2021, JinkoSolar anticipates shipments to grow over 30%, projecting total shipments between 25 GW and 30 GW, and revenue between $1.18 billion to $1.30 billion for Q1.
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