China's JinkoSolar Q3 revenue drops on lower solar module prices

Reuters

11/17

China's JinkoSolar Q3 revenue drops on lower solar module prices

Overview

JinkoSolar Q3 revenue falls 34.1% yr/yr due to lower solar module prices
Net loss for Q3 narrows to RMB749.8 mln from Q2's RMB876.4 mln
Gross profit margin improves to 7.3% in Q3 from 2.9% in Q2

Outlook

JinkoSolar expects full-year 2025 shipments between 85 GW and 100 GW
Company anticipates 2025 ESS shipments to be approximately 6 GWh
JinkoSolar projects 2025 production capacity for mono wafer, solar cell and solar module to reach 120.0 GW, 95.0 GW and 130.0 GW, respectively

Result Drivers

SHIPMENT DECLINE - Q3 saw a decrease in solar module shipments, impacting total revenues
GROSS MARGIN IMPROVEMENT - Sequential improvement in gross margin due to lower unit costs
ENERGY STORAGE GROWTH - Significant growth in energy storage business improved profitability

Key Details

Metric	Beat/Miss	Actual	Consensus Estimate
Q3 Revenue		RMB 16.16 bln (US$2.27 billion)
Q3 Net Income		-RMB 749.80 mln
Q3 Gross Margin		7.30%
Q3 Gross Profit		RMB 1.18 bln
Q3 Income from Operations		-RMB 1.40 bln
Q3 Operating Expenses		RMB 2.59 bln

Analyst Coverage

The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy", 3 "hold" and 2 "sell" or "strong sell"
Wall Street's median 12-month price target for JinkoSolar Holding Co Ltd is $20.00, about 35.2% below its November 14 closing price of $27.04

Press Release: ID:nPn95hSgJa

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com.</p><p>(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)</p></body></html>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>China's JinkoSolar Q3 revenue drops on lower solar module prices</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com.</p><p>(This story was created using Reuters automation and AI based on LSEG and company data. 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For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com.(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"dataReport","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"}}}