Jinkosolar ( (JKS) ) has realeased its Q3 earnings. Here is a breakdown of the information Jinkosolar presented to its investors.
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JinkoSolar Holding Co., Ltd. is a leading global solar module manufacturer and innovator, providing solar products and solutions to a diverse international clientele across various regions, including China, the United States, and Europe. The company is renowned for its cutting-edge N-type TOPCon technology.
In its third quarter of 2024 earnings report, JinkoSolar announced significant achievements and challenges. Despite a decline in revenue compared to the previous year, the company maintained its position as a top solar module supplier and achieved a substantial increase in gross profit and margin sequentially. A notable highlight was the company reaching over 280 GW in total solar module deliveries globally.
Key financial metrics revealed a 1.9% sequential revenue increase to RMB24.51 billion, though this was a 23% decrease year-over-year. Gross profit improved by 44% sequentially to RMB3.86 billion, but was down 37.1% from the previous year. Net income attributable to shareholders was RMB22.5 million, a recovery from a loss in the previous quarter but a significant decline from the same period last year. Adjusted net income stood at RMB103.9 million, reflecting strategic adjustments and cost optimizations.
Looking ahead, JinkoSolar’s management remains optimistic, predicting module shipments between 90.0 GW and 100.0 GW for the full year 2024. The company aims to leverage its technological advancements and global networks to navigate market challenges and enhance profitability. Continued investments in R&D and production capacity are expected to bolster JinkoSolar’s competitive edge in the evolving solar industry.
