JinkoSolar Q1 Profit Declines - Update

(RTTNews) - JinkoSolar Holding Co., Ltd. (JKS) reported Monday that net income attributable to the company's ordinary shareholders for the first quarter declined to RMB609.40 million or US$84.40 million from RMB788.65 million in the prior-year quarter. Earnings per ADS were RMB5.36 or US$0.74, compared to RMB14.95 last year.

Total revenues for the quarter edged down 1.2 percent to RMB23.04 billion or US$3.19 billion, from RMB23.33 billion in the same quarter last year.

Quarterly shipments were 21,907 MW (19,993 MW for solar modules, and 1,914 MW for cells and wafers), up 51.2 percent year-over-year.

Looking ahead to the second quarter, the company expects total solar module shipments to be in the range of 24.0 GW to 26.0 GW.

For full year 2024, the company estimates total shipments, including solar cell and wafer, to be in the range of 100 GW to 110 GW.

JinkoSolar also expects its annual production capacity for mono wafer, solar cell and solar module to reach 120.0 GW, 110.0 GW and 130.0 GW, respectively, by the end of 2024.

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