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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 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.
JinkoSolar (NYSE: JKS) announced the launch of its new Tiger Pro modules, designed for distributed generation. These ultra-efficient modules feature a maximum power output of 415W and an efficiency rate of 21.3%. The modules are re-designed for improved installation ease, measuring 1.7m x 1.1m. JinkoSolar offers a 15-year product warranty and 25-year linear warranty, with degradation rates of 2% in the first year and 0.55% annually thereafter. This product aims to reduce LCOE and ensure reliable power generation across various applications.
JinkoSolar plans to release its financial results for Q4 and full year 2020 on April 9, 2021, before U.S. market open. Management will hold an earnings conference call that same day at 8:00 a.m. Eastern Time. Participants can join via dial-in numbers provided for international and U.S. callers, with a passcode required. A replay will be available two hours post-call through April 16, 2021. JinkoSolar, a leading solar module manufacturer, has a substantial global presence and a vertically integrated production capacity.
JinkoSolar Holding Co., Ltd. (NYSE:JKS) has been recognized as an "Overall High Achiever" in the 2020 PV Module Index Report by the Renewable Energy Testing Center (RETC). This accolade highlights JinkoSolar's superior performance in reliability, performance, and quality, following rigorous testing procedures. Out of 17 evaluated manufacturers, JinkoSolar's modules excelled in LID, DH2000, PID, Pan File, and Thresher tests, reinforcing its commitment to high-quality solar solutions. This acknowledgment enhances JinkoSolar's reputation in the global solar market, reassuring customers of its product excellence.
On March 8, 2021, JinkoSolar (NYSE: JKS) announced that its R&D Center module laboratory achieved satisfactory results in the national assessment of PV Modules Testing Accuracy. Conducted by the National Institute of Metrology, China, the laboratory excelled in all test categories, earning the 'Qualified Laboratory Certificate.' The company aims to enhance collaboration with authoritative institutions to foster the PV industry's high-quality development. JinkoSolar continues to lead in technological innovation, reflecting its commitment to delivering high-quality products.
JinkoSolar (NYSE: JKS) has become the first international solar company to sign the Global Framework Principles for Decarbonizing Heavy Industry, aimed at promoting clean energy in the heavy industry sector, a significant contributor to global emissions. Vice President Dany Qian emphasized the importance of renewable energy in this transition. The press release also highlights the role of governments in sustainable recovery programs and calls for collaborative actions to accelerate decarbonization. JinkoSolar aims to provide innovative clean energy solutions to facilitate this shift.
JinkoSolar (NYSE: JKS) plans to sign a strategic cooperation agreement with Tongwei Co., Ltd. to invest in a high-purity crystalline silicon project with an annual capacity of 45,000 metric tons and a silicon wafer project with a 15GW annual capacity. JinkoSolar will hold a 35% stake in the silicon project, while Tongwei will have a 30% stake in the wafer project. This partnership aims to enhance resource integration in the solar industry and ensure competitive pricing in production. JinkoSolar will also supply Tongwei with approximately 6.5GW of wafer products over three years.
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