Solar manufacturer JinkoSolar’s main operating subsidiary, Jinko Solar, has released preliminary results for its fiscal year ended in 2023 with net income up between 146-170% year over year.
For the year ended 31 December 2023, Jinko Solar estimates its preliminary unaudited net income attributable to the shareholders of Jiangxi Jinko to be between RMB7.25 billion to RMB7.95 billion (US$1-1.1 billion).
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Continuing on the improved financial results posted during the third quarter of 2023, the Chinese solar manufacturer is expected to end 2023 on a high note as it expects to reach an annual nameplate capacity of 110GW by early 2024.
During the first nine months of the year, Jinko shipped 52GW of modules, with strong demand from tunnel oxide passivated contact (TOPCon) modules which accounted for 57% of the total shipment up until the end of Q3 2023.
In a conversation with PV Tech, the company said it is also focusing on the construction of its fully vertically integrated plant located in the Chinese province of Shanxi, for which the first phase of 14GW is expected to be operational by the end of the first quarter of this year. Once fully operational, the plant will have an annual nameplate capacity of 56GW, from ingots to modules under the same roof.
Dates have not yet been announced for Jinko Solar’s release of the full 2023 fiscal year results, or earnings calls with company executives.