JinkoSolar Revenue Surges 24% in Dec Quarter

The company’s gross profit rose to RMB 735.3 million in December quarter of FY17, as compared to its gross profit of RMB 730.0 million in the fourth quarter of 2016.

Photovoltaics company, JinkoSolar Holding has reported a growth of 24 percent in its total revenues at RMB 6.35 billion for the fourth quarter ended December 31, 2017, mainly on account of rise in solar module shipments, which was partially offset by a decline in the average selling price of solar modules in 2017.

“The total revenues of the company stood at RMB 5.12 billion during the corresponding quarter a year ago,” said JinkoSolar Holding.

Moreover, JinkoSolar’s gross profit rose to RMB 735.3 million in December quarter of FY17, as compared to its gross profit of RMB 730.0 million in the fourth quarter of 2016.

It’s gross margin was 11.6 percent in the fourth quarter of 2017, compared with 14.3 percent in the fourth quarter of 2016, on the back of decline in the average selling price of solar modules in the fourth quarter of 2017.

During the quarter under review, net income attributable to the company’s ordinary shareholders from continuing operations in the fourth quarter of 2017 was RMB 22.5 million (USD 3.5 million), as against RMB 145.8 million in the fourth quarter of 2016.

Commenting on the performance, JinkoSolar, Chief Executive Officer, Kangping Chen said, “We shipped 2,481 MW of solar modules during the quarter while generating total revenues of USD 976.4 million.”

“During the quarter, we continued to optimize our mono wafer production costs and have made substantial progress in crystalizing, cutting and argon recycling during the mono wafer production process. We broke our own world record during the quarter when solar cell efficiency for our P-type mono-crystalline PERC cell hit 23.45 percent. We also made solid progress in developing N type Hydride Oxide Thin Film (HOT) technology, with an industry-leading 21.9 percent in average cell efficiency during mass production. With demand increasing, we also plan to expand our production capacity of bifacial cell plus bifacial duo glass modules,” Chen added.