JinkoSolar's Q1 gross margin grows, shipments top 3 GW
Ken Teegardin/CC BY-SA 2.0
JinkoSolar Holding Co Ltd (NYSE:JKS) reported a first-quarter (Q1) 2019 net profit of CNY 40.2 million (USD 5.85m/EUR 5.1m) and improved profitability.
Module shipments reached 3,037 MW and are expected to increase further in the second quarter to about 3,200 MW-3,300 MW.
The solar manufacturer’s Q1 gross margin rose to 16.6% from 14.7% in the preceding quarter and 14.4% a year earlier. Quarter-on-quarter it grew due to a higher proportion of self-produced high-efficiency mono products and further reductions in production cost. Year-on-year the gross margin increased mainly because of lower solar module costs, but that effect was in part offset by a drop in the average selling price of solar modules.
The table contains more details on JinkoSolar’s performance in the period under review.
Results in CNY
Gross margin (in %)
Net income attr. to ordinary shareholders
Non-GAAP net income attr. to ordinary shareholders
JinkoSolar plans to reach a total annual production capacity of 15 GW for wafers, 10 GW for cells and 16 GW for modules by the end of the year. It expects full-year shipments of 14 GW-15 GW.