JinkoSolar ($JKS) shares plummeted 5.01% in intraday trading on Thursday, following the release of disappointing third-quarter financial results from its majority-owned subsidiary, Jinko Solar Co., Ltd. The sharp decline reflects investor concerns over the company's financial performance and market position in the solar industry.

According to the unaudited financial results, Jinko Solar Co., Ltd. reported a net loss attributable to owners of the parent company of RMB 1.01 billion (approximately $140.39 million) for the third quarter of 2025. This represents a staggering 6,900.55% decrease compared to the same period last year. The company's total operating revenue also saw a significant decline of 34.11% year-over-year, amounting to RMB 16.15 billion for the quarter.

The financial report highlighted several concerning trends, including a 12.14% decrease in total equity attributable to the parent company since the end of 2024, and a negative 3.50% weighted average return on equity for the quarter. These figures underscore the challenges facing JinkoSolar and its subsidiaries in the current market environment. The company's research and development expenditure as a percentage of total operating revenue increased to 4.17%, indicating ongoing investment in innovation despite financial pressures. As JinkoSolar currently owns approximately 55.59% equity interest in Jinko Solar Co., Ltd., these results are likely to have a significant impact on the parent company's overall financial health and market perception.