OVERVIEW - Chinese PV leaders change places, JinkoSolar rocks Q1
Solar modules. Author: Oregon Department of Transportation. License: Creative Commons, Attribution 2.0 Generic.
In a traditionally slow first quarter due to seasonality, Chinese photovoltaics (PV) maker JinkoSolar Holding Co Ltd (NYSE:JKS) managed to outrank domestic peers with 1,600 MW of module shipments, 1,434 MW of which to external customers.
Among the top sector players in China, Trina Solar Ltd (NYSE:TSL) -- the world’s largest solar manufacturer for both 2014 and 2015 -- ranked second, closely followed by Canadian Solar Inc (NASDAQ:CSIQ). JA Solar Holdings Co Ltd (NASDAQ:JASO), Hanwha Q Cells Co Ltd (NASDAQ:HQCL) and ReneSola Ltd (NYSE:SOL) were the ones to confirm first-quarter 2016 total module shipments below 1,000 MW.
In the meantime, Yingli Green Energy (NYSE:YGE), the top module supplier in 2012 and 2013, has been facing financial difficulties for months. The firm said its PV panel sales amounted to between 480 MW and 510 MW during the period. Final figures have not yet been released.
Although based in South Korea, Hanwha Q Cells has diverse international manufacturing facilities in Malaysia and China, as well. Therefore, as a top module supplier globally with a strong Chinese presence, the firm is also part of the analysis.
After being dethroned in the opening quarter of this year, Trina Solar is set to maintain its leadership position with a full-year forecast for 6,300 MW-6,550 MW of total module shipments.
In terms of net profits for the three months through March, the ranking is nearly the same as that for quarterly shipments. JA Solar beat Canadian Solar, whilst Hanwha Q Cells managed to climb up from the fifth to the second spot, as shown below.