Major tier-one PV module manufacturer JinkoSolar met the lower-end of record shipment guidance for 2014, which is expected to result in the company becoming the third largest module producer in the world, up from being ranked fifth in 2013.
The company reported total solar module shipments for the full-year of 2,943.6MW, a 65% increase of the previous year, setting a new company record. JinkoSolar had previously guided 2014 shipments to be between 2.9GW to 3.2GW.
Total solar product shipments to third parties reached a record high of 2,787.1MW, consisting of 2,423.2MW of solar modules, 229.6MW of silicon wafers and 134.3MW of solar cells, an increase of 44.2% from 1,933.1 MW for the full year 2013.
JinkoSolar reported 2014 revenue of US$1.61 billion, an increase of 41.0% from the previous year.
Kangping Chen, JinkoSolar's CEO said: “Full year solar module shipments also reached a record high of 2,943.6 MW, which includes 520.4 MW used in our downstream projects. Revenue streams expanded as costs continued to improve allowing us to achieve over US$100 million in net income for the year. Our rapidly growing downstream business, expanding geographic presence and industry-leading products will continue to support our growth as we work towards our goal of transforming into a one-stop energy solutions provider.”
JinkoSolar guided total solar module shipments to be in the range of 3.3GW and 3.8GW in 2015, which includes 2.7GW to 3GW module shipments to third parties. Full year newly-added solar power project development scale is expected to be in the range of 600MW to 800MW.