JinkoSolar's stock plummeted 7.55% during Tuesday's intraday trading session, following the release of its 2025 performance forecast.

The company reported its first annual net loss since 2013, with a deficit of 6.786 billion yuan, attributed to severe overcapacity in the photovoltaic industry, a dramatic plunge in module prices, and related asset impairments. Industry-wide price wars and a supply-demand imbalance have pressured margins, with module prices falling below cost levels in some segments.

Despite the loss, JinkoSolar noted some positive operational signs in late 2025, including a quarter-on-quarter return to positive gross margin and improved cash flow, as it accelerates technology upgrades and focuses on higher-margin products.