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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) has signed a contract with Shanghai Electric to supply about 1 GW of solar modules for the DEWA Solar Park in Dubai. This project aligns with Dubai's goal of generating 75% of its power from clean energy by 2050. The company will provide its Swan series modules, designed for high efficiency in extreme temperatures, reducing LCOE and improving ROI. Additionally, JinkoSolar has established a strategic partnership with Shanghai Electric to strengthen cooperation in renewable energy projects globally.
JinkoSolar (NYSE: JKS) has unveiled its latest innovation, the 610W Tiger Pro high-efficiency monocrystalline solar module, showcased at SNEC 2020 in Shanghai. This new module incorporates N-Type HOT 2.0 technology, achieving a cell efficiency of 24.79%, setting a new world record. Additionally, JinkoSolar introduced colored BIPV solutions with a power output of up to 550W, blending aesthetic architecture with solar technology. The company aims to enhance R&D investments to further optimize product performance and maintain its leading position in the global solar market.
On August 6, 2020, JinkoSolar (NYSE: JKS) announced its ambitious RE100 roadmap to achieve 100% renewable energy by 2025. This initiative includes building factories near renewable energy sources, enhancing R&D for efficient solar products, optimizing production processes, and promoting recycling. JinkoSolar aims to utilize more onsite solar energy by deploying panels on its facilities worldwide and encouraging suppliers to use renewable energy. The company is committed to sustainable practices and reducing emissions while leading the solar industry in environmental responsibility.
JinkoSolar (NYSE: JKS) achieved a significant milestone with its large-area N-type monocrystalline silicon solar cells, reaching a maximum solar conversion efficiency of 24.79%, setting a world record for large-size contact-passivated solar cells. This achievement, confirmed by the Institute for Solar Energy Research in Hamelin, showcases JinkoSolar's dedication to technological innovation and highlights advancements in cell fabrication and materials. The new technology will soon be incorporated into production, bolstering JinkoSolar's competitive edge in the solar market.
JinkoSolar (NYSE: JKS) announced it will supply 126 MW of solar modules for the expansion of a 160 MW PV park in Chile's Antofagasta Region. The existing plant, operational since 2016, currently has 668,160 panels generating 400 GWh annually. The expansion will add 315,900 bifacial modules, increasing total capacity to 984,060 panels and annual generation to 789 GWh. This project highlights JinkoSolar's focus on promoting renewable energy and its commitment to providing high-quality solar solutions in Latin America.
Fish & Richardson has secured a significant ruling from the International Trade Commission (ITC) for JinkoSolar Holding Co., Ltd. (NYSE: JKS), confirming that JinkoSolar's products do not infringe a patent owned by competitor Hanwha Q CELLS. The ruling came after Hanwha attempted to block JinkoSolar's U.S. imports. This decision allows JinkoSolar to continue its operations in the U.S. without legal hindrance, promoting growth in the competitive solar market.
JinkoSolar (NYSE: JKS) has announced it will supply 60.9 MW of bifacial solar modules for Chile's first industrial hybrid plant, combining a PV plant and a wind farm. Located near Calama, the plant will utilize approximately 154,710 JinkoSolar bifacial panels, expected to generate about 184 GWh of electricity annually. The project is notable as the first in Latin America to feature bifacial modules with transparent backsheets, promoting renewable energy development in the region. Construction is anticipated to complete by early 2021.
JinkoSolar (NYSE: JKS) addressed a court ruling from Düsseldorf, Germany, which found that certain legacy modules infringed on a patent held by Hanwha Q CELLS. JinkoSolar disagrees with the ruling and plans to appeal, while also disputing the validity of the Hanwha patent through the European Patent Office. The ruling only affects outdated modules, thus not impacting current sales or customers in Germany. JinkoSolar maintains its commitment to providing cutting-edge solar technology and sees this legal contention as an attempt by Hanwha to hinder its business growth.
JinkoSolar (NYSE: JKS) reported Q1 2020 results with total revenues of RMB8.48 billion (US$1.20 billion), a 23.5% decline from Q4 2019 but a 25.1% increase year-over-year. Module shipments reached 3,411 MW, down 24.8% sequentially but up 12.3% from the previous year. Gross margin improved to 19.5%, while net income for shareholders was RMB282.4 million (US$39.9 million). Despite challenges from COVID-19, the company reaffirmed its full-year shipment guidance of 18-20 GW. Strategic efforts included the completion of a high-efficiency product portfolio and the sale of solar plants to improve the balance sheet.
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