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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 a prospectus supplement for an at-the-market equity offering program to sell up to US$100,000,000 of American depositary shares (ADSs). The sales will be conducted through Credit Suisse and Barclays as agents, with proceeds aimed at expanding production capacity at its Jiangxi Jinko subsidiary and other general corporate purposes. The shares will be offered under a shelf registration effective since December 16, 2020, and details can be found in the filed prospectus supplement with the SEC.
JinkoSolar (NYSE: JKS) announced significant changes to its senior management team to comply with the Shanghai Stock Exchange's requirements for its subsidiary's proposed listing. Key executives, including the CEO and COO, have resigned to assume roles at Jiangxi Jinko. Xiande Li has been appointed as the new CEO of JinkoSolar. The company believes these management changes will not materially impact its operations. JinkoSolar remains a leading solar module manufacturer with a robust global presence and substantial production capacity.
On December 10, 2020, JinkoSolar (NYSE: JKS) announced an update to its 2020 annual general meeting agenda, adding a resolution to ratify Mr. Haiyun (Charlie) Cao's appointment as a director. The updated notice is available on the company's Investor Relations website. JinkoSolar is a leading solar module manufacturer with a capacity of 20 GW for mono wafers, 11 GW for solar cells, and 25 GW for solar modules as of September 30, 2020. The company has a global presence with production facilities and subsidiaries across multiple countries.
JinkoSolar Holding Co., Ltd. (NYSE: JKS) announced a proposed at-the-market equity offering program that allows the sale of up to US$100,000,000 of its American depositary shares. The program will be initiated once the company files a registration statement with the SEC. The shares may be sold at prevailing market prices or negotiated prices. This offering is part of JinkoSolar's strategy to strengthen its financial position in the competitive solar market. Investors are advised to read the prospectus for comprehensive details before investing.
JinkoSolar (NYSE: JKS) announced a change in its board of directors on Dec. 8, 2020. Longgen Zhang has resigned while Haiyun (Charlie) Cao has been appointed as a new director. The company believes these changes will not materially impact its operations. CEO Kangping Chen expressed gratitude towards Zhang and noted Cao's extensive industry experience as a positive addition to the board, aimed at enhancing shareholder value. JinkoSolar remains one of the largest solar module manufacturers globally, with significant production capabilities.
JinkoSolar (NYSE: JKS) reported strong unaudited financial results for Q3 2020, with total revenues of US$1.29 billion, up 17.2% YoY, and solar module shipments of 5,117 MW, a 53.8% YoY increase. Gross profit grew 8.2% YoY to US$220.2 million, although gross margin decreased to 17.0%. Despite raw material supply challenges and a net income of only US$1 million, the company anticipates 18.5-19 GW in total shipments for 2020 and an optimistic outlook for Q4 with expected revenues between US$1.31 billion and US$1.43 billion.
JinkoSolar (NYSE: JKS) has been awarded the highest AAA credit rating in the Chinese market by the China Association for Quality, marking a significant milestone in its quality management performance. This recognition highlights JinkoSolar's robust credit management and operational capabilities. With leading technologies and a commitment to research and development, the company has achieved global prominence, ranking first in PV module shipments for four consecutive years. JinkoSolar aims to continue enhancing product quality and supporting the global transition to renewable energy through innovation.
On November 27, 2020, JinkoSolar (NYSE: JKS) announced a share and debt purchase agreement where its subsidiary, JinkoSolar Sweihan (HK) Limited, will sell its 50% equity interest in Sweihan Solar Holding Company Limited to Jinko Power (HK). This divestiture allows Jinko HK to indirectly hold a 20% equity interest in the Sweihan PV Power Company, which operates a 1,200 MW photovoltaic power plant in Abu Dhabi. The deal is subject to approvals from Emirates Water and Electricity Company and other stakeholders, enabling JinkoSolar to focus on its core business and long-term growth in the solar industry.
JinkoSolar, a leading solar module manufacturer, announced it will release its unaudited financial results for Q3 2020 on December 7, 2020, before U.S. market opening. A conference call is scheduled for the same day at 7:30 a.m. ET. Participants can join by dialing the provided numbers, with a passcode of 27311972#. A replay will be available for two weeks following the call. JinkoSolar operates with a significant global footprint and a vertically integrated production capacity, emphasizing its position within the solar market.
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