Welcome to our dedicated page for JINKOSOLAR HOLDINGS CO news (Ticker: JKS), a resource for investors and traders seeking the latest updates and insights on JINKOSOLAR HOLDINGS CO stock.
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 Q2 2024 financial results, reporting a 34.1% YoY increase in module shipments to 23.8 GW, leading the industry. Total revenues were RMB24.05 billion ($3.31 billion), down 21.6% YoY. Gross profit fell 44% YoY to RMB2.68 billion ($368.3 million), with a gross margin of 11.1%. The company recorded a net loss of RMB100.7 million ($13.9 million) compared to net income of RMB1.31 billion in Q2 2023. Adjusted net income was RMB378.5 million ($52.1 million).
The company achieved new technology milestones, including a 33.24% conversion efficiency for N-type TOPCon based perovskite tandem cells. It formed a joint venture in Saudi Arabia to produce 10 GW of high-efficiency solar cells.
Despite challenges like lower average selling prices, JinkoSolar maintains a robust global position, with an expected full-year shipment range of 100-110 GW and Q3 shipments between 23-25 GW.
JinkoSolar Holding Co., (NYSE: JKS), a leading solar module manufacturer, has repurchased 5,596,739 ADSs for approximately US$134.5 million under its share repurchase program. The program, announced in July 2022 and extended in December 2023, now runs through June 30, 2025. As of the press release date, about US$65.5 million remains unutilized in the extended program.
The company may continue repurchasing ADSs through various means, including open-market transactions, private negotiations, and block trades, subject to market conditions and applicable regulations. The timing and conditions of future repurchases will comply with Rule 10b-18, Rule 10b5-1 of the Securities Exchange Act of 1934, and JinkoSolar's insider trading policy.
JinkoSolar Holding Co., (NYSE: JKS), a leading solar module manufacturer, announced changes to its Board of Directors on August 20, 2024. Mr. Yingqiu Liu resigned as an independent director and ceased to be a member of the audit committee and the nominating and corporate governance committee. Mr. Gang Chu was appointed as an independent director and a member of both committees, effective immediately.
Mr. Chu brings extensive experience from his roles at China International Capital (CICC) and Citigroup. He holds a Ph.D. in theoretical physics and is a Chartered Financial Analyst. JinkoSolar's Chairman and CEO, Mr. Xiande Li, expressed gratitude to Mr. Liu and welcomed Mr. Chu, highlighting his valuable capital markets experience.
JinkoSolar Holding Co., (NYSE: JKS), a leading global solar module manufacturer, has announced its plans to release unaudited financial results for Q2 2024 on August 30, 2024, before U.S. markets open. The company will host an earnings conference call at 8:30 a.m. U.S. Eastern Time on the same day. Interested parties can pre-register for the call using the provided link. A telephone replay will be available until September 6, 2024. Additionally, a live and archived webcast of the conference call will be accessible on JinkoSolar's Investor Relations website.
JinkoSolar Holding Co., (NYSE: JKS), a leading solar module manufacturer, has announced a cash dividend of US$0.375 per ordinary share or US$1.50 per American Depositary Share (ADS). The dividend will be paid to shareholders of record as of August 15, 2024, with an expected payment date of August 30, 2024. The total distribution is estimated at US$79 million.
CEO Xiande Li stated that this dividend reflects the company's confidence in its business prospects and commitment to rewarding shareholders, despite ongoing challenges in the global PV market. This move demonstrates JinkoSolar's financial stability and positive outlook for the future.
JinkoSolar Holding Co., (NYSE: JKS) has announced a significant joint venture in Saudi Arabia to manufacture high-efficiency solar cells and modules. The company's subsidiary, JinkoSolar Middle East DMCC, will partner with Renewable Energy Localization Company (RELC) and Vision Industries Company (VI) to establish a manufacturing facility with an expected annual production capacity of 10 GW for both solar cells and modules.
The joint venture's ownership structure will be 40% JinkoSolar Middle East, 40% RELC, and 20% VI. With a total investment of approximately US$1 billion, the project aims to enhance JinkoSolar's global manufacturing capabilities and contribute to Saudi Arabia's Vision 2030 goals for sustainable energy development.
JinkoSolar Holding Co., (NYSE: JKS) has once again topped the PV Tech 2024 Q2 ModuleTech Bankability Report with an AAA rating. The company's consistent high ratings are attributed to its substantial module shipments and strong financial health. In Q1 2024, JinkoSolar's subsidiary reported total revenue of 23.083 billion RMB and net profit of 1.176 billion RMB.
JinkoSolar's focus on innovation has led to 26 record-breaking achievements in cell conversion efficiency and module power output. The company's N-type Tiger Neo series has gained global recognition, being delivered to over 4000 customers in more than 140 countries. JinkoSolar aims to continue enhancing its technological capabilities and product competitiveness to support the global energy transition.
JinkoSolar (NYSE: JKS) announced it has repurchased 4,503,178 ADSs, valued at approximately $110.7 million, under its share repurchase program initiated in July 2022 and extended in December 2023. The program will continue until June 30, 2025, with $89.3 million still available for repurchases. The buybacks will occur through various methods including open-market and privately negotiated transactions, adhering to market conditions and regulatory rules such as Rule 10b-18 and Rule 10b5-1 of the Securities Exchange Act of 1934.
On June 21, 2024, JinkoSolar announced a partnership with Kiefer to supply its large-scale battery storage system, SunTera, to Athens International Airport (AIA). This initiative will help AIA achieve Net Zero Carbon Emissions by 2025, making it the first airport worldwide to operate entirely on self-consumption. Frank Niendorf, General Manager Europe at JinkoSolar, expressed excitement over this pioneering project in Greece, aligning with both companies' commitment to sustainability. Christos Petrocheilos, General Manager at Kiefer, noted that the collaboration will significantly benefit their customers.
JinkoSolar Holding Co., (NYSE: JKS) announced on June 21, 2024, a partnership with kIEFER to supply its large scale battery storage, SunTera, to Athens International Airport (AIA). This initiative will support AIA's goal to achieve Net Zero Carbon Emissions by 2025. Upon completion, AIA will operate one of the largest self-consumption systems in any airport facility globally, making it the first international airport to achieve 100% self-consumption. Frank Niendorf, JinkoSolar's General Manager for Europe, emphasized the significance of this collaboration with kIEFER, highlighting the shared vision for sustainable energy and innovation.
FAQ
What is the current stock price of JINKOSOLAR HOLDINGS CO (JKS)?
What is the market cap of JINKOSOLAR HOLDINGS CO (JKS)?
What does JinkoSolar Holding Co., Ltd. do?
Where are JinkoSolar's production facilities located?
What are JinkoSolar's recent financial highlights?
What is JinkoSolar's role in the solar industry?
What recent technological achievements has JinkoSolar made?
How does JinkoSolar support sustainability?
What is the capacity of JinkoSolar's solar module production?
What are JinkoSolar's future plans?
How does JinkoSolar ensure product quality and innovation?
How can I get in touch with JinkoSolar for investor or media inquiries?
