JinkoSolar subsidiary’s net income reaches US$894 million in quarterly results

Facebook
Twitter
LinkedIn
Reddit
Email
Jiangxi Jinko’s preliminary financial results saw an impressive growth over the first three quarters. Credit: PV Tech

Chinese Solar module manufacturer JinkoSolar has posted improved financial results for its subsidiary Jiangxi Jinko for the first three quarters of 2023, with net income increasing to up to RMB6.54 billion (US$894.1 million).

In its latest preliminary financial result announcement, the company said that Jiangxi Jinko’s preliminary net income for the first nine months of 2023 would be in the range of RMB6.14 billion to RMB6.54 billion, increasing by 266.36-290.22% from only RMB1.68 billion during the same period last year.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

The company did not mention the reason for the surge of net income, nor further details of the financial results.

JinkoSolar also shipped over 52GW of modules in the first nine months of the year. In Q1 and Q2 of this year, module shipments reached 13GW and 17.8GW respectively, meaning the company sold 21.2GW of modules in Q3. The company’s n-type tunnel oxide passivated contact (TOPCon) cells accounted for the majority of the firm’s sales, with TOPCon sales making up 57% of the year’s total shipments, and growing interest in TOPCon technology could be a driving factor behind this increase in revenue.

Indeed, Solar Media’s head of market intelligence Finlay Colville wrote in a piece on PV Tech that JinkoSolar also plans to be the first module supplier to be targeting 100GW of module shipments in a calendar year, and with that landmark set to be achieved in 2024.

8 October 2024
San Francisco Bay Area, USA
PV Tech has been running an annual PV CellTech Conference since 2016. PV CellTech USA, on 8-9 October 2024 is our second PV CellTech conference dedicated to the U.S. manufacturing sector. The event in 2023 was a sell out success and 2024 will once again gather the key stakeholders from PV manufacturing, equipment/materials, policy-making and strategy, capital equipment investment and all interested downstream channels and third-party entities. The goal is simple: to map out PV manufacturing in the U.S. out to 2030 and beyond.

Read Next

July 19, 2024
SunPower said the decision was not made "lightly" and will consider options to support its mutual customers and collective business pipeline.
July 17, 2024
Saudi Arabia's PIF has signed two solar PV manufacturing agreements with Chinese manufacturers JinkoSolar and TCL Zhonghuan Renewable Energy.
July 16, 2024
Chinese solar manufacturing giant JinkoSolar will build a 10GW n-type solar cell and module manufacturing facility in Saudi Arabia.
July 12, 2024
The Pomerantz Law Firm has brought a class action lawsuit against Singapore-headquartered solar manufacturer Maxeon Solar Technologies concerning whether “Maxeon and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.”
July 9, 2024
Indian EPC firm Larsen & Toubro has secured contracts to build two solar PV plants in the Middle East with a combined capacity of 3.5GW.
Sponsored
June 26, 2024
PV Tech speaks to Frank Niendorf of JinKo Solar EU about the company’s growing global footprint, and compliance with sustainability criteria.

Subscribe to Newsletter

Upcoming Events

Upcoming Webinars
July 31, 2024
1:00 PM (BST) / 2:00PM (CEST)
Solar Media Events
September 24, 2024
Warsaw, Poland
Solar Media Events
September 24, 2024
Singapore, Asia
Solar Media Events
October 8, 2024
San Francisco Bay Area, USA