Chinese solar module maker JinkoSolar Holding Co Ltd (NYSE:JKS) on Friday lifted its shipments forecast for the last quarter of 2019 and the full year, and guided for an increase in 2020.
The upgraded outlook reflects increased domestic and overseas demand for its mono products. This “incredibly strong” demand, CEO Kangping Chen explained, gave the company confidence in reiterating its 2020 guidance for solar module shipments within the 18 GW-20 GW range, representing a 35% year-over-year rise.
More details on JinkoSolar’s updated forecast can be seen in the table below.
|Total module shipments
The Chinese firm also upgraded its fourth-quarter guidance for revenues, expecting an improvement of around 14% as compared to the earlier forecast. It now sees revenues at between USD 1.35 billion (EUR 1.18bn) and USD 1.38 billion, up from USD 1.17 billion-1.23 billion previously. The gross margin is to stand at 18%-20%, as compared to 18.5%-20.5% projected before.
“The efficient execution of our strategy throughout the second half of the year allowed us to rapidly transition our operations and facilities from poly to mono production and steadily increase the proportion of products made through our fully integrated manufacturing process,” the CEO added.
(USD 1.0 = EUR 0.877)
Choose your newsletter by Renewables Now. Join for free!