On October 31, Jinko Solar released its Q3 2025 financial report. The report shows that revenue for the first three quarters reached RMB 47.986 billion, with a net loss attributable to shareholders of RMB -3.920 billion, narrowing by RMB 508 million quarter-on-quarter. The gross margin turned positive, improving by 4.77 percentage points sequentially. Operating cash flow in Q3 improved to RMB 2.471 billion, reflecting sustained financial stability, with confidence in achieving positive full-year operating cash flow.

Specifically, benefiting from stabilized module prices and the ramp-up of high-power capacity, Jinko Solar's Q3 net loss attributable to shareholders narrowed significantly to RMB -1.011 billion from RMB -1.519 billion in Q2, marking a 33% sequential reduction. A key breakthrough was the positive gross margin in Q3, rising 4.77 percentage points. Operating cash flow improved by RMB 2.471 billion in Q3, narrowing to RMB -1.341 billion from RMB -3.812 billion in H1.

Jinko Solar has already deployed over 20GW of high-power capacity and expects to achieve 40-50GW of advanced capacity by year-end. Its Tiger Neo 3.0 products command a premium of around 10%, further boosting margins. With advanced capacity expansion and overseas high-price market penetration, Jinko Solar is poised to lead profitability as the industry reaches an inflection point.