Jinko Solar Announces Q4 and 2021 Financial Results

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Chinese solar module major  Jinko Solar announced has its quarterly and annual financial results. The company has posted revenue of $2.57 billion in the fourth quarter of 2021. This time, the revenue of Jinko Solar has increased by more than 79 per cent compared to the corresponding quarter of 2020 when it received revenue of $1.44 billion.

The quarter to quarter growth from third quarter of 2021 ($1.33 billion) to fourth quarter of 2021 witnessed a growth of more than 91 per cent.

Jinko Solar registered a gross profit of $415 million in the fourth quarter of 2021 alone. It’s a 75 per cent year-on-year increase compared with $231 million registered in the fourth quarter of 2020. The quarter to quarter increase is found to be 104 per cent.

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The shipment made in the quarter is of 9,693 MW of which 9,024 MW were solar modules and 669 MW were cells and wafers. In 2021, Jinko registered a gross profit of $1.04 billion which is about 8 per cent higher than the previous year. The rise in the gross profit is mainly due to reduction in the production costs and rise in the selling price of the solar modules.

Xiande Li, Chief Executive Officer (CEO) of Jinko Solar, said, “We are very pleased to close a very challenging year of 2021 with excellent results. We were able to swiftly respond to supply chain volatility and logistic challenges thanks to our competitive advantages in supply chain management and global network.”

The annual sales of the Jinko Solar in 2021 were 25,242 MW. This includes 22,233 MW for solar modules. The modules’ sales rose by 18.4 per cent year on year.

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Jinko Solar has also revealed that its production capacity in terms of mono solar, solar cell and solar module stands at 32.5 GW, 24 GW and 45 GW.

Xiande Li said, “In the first quarter of 2022, our principal operating subsidiary, Jiangxi Jinko, successfully listed on the Shanghai Stock Exchange Science and Technology Innovation Board, raising RMB 10 billion. We believe this historic milestone will create greater momentum for advancing our state of the art technology and business operations.”