JinkoSolar's Subsidiary, Jinko Solar Co., Ltd., Announces Estimates of Certain Preliminary Unaudited Financial Results for Full Year 2025

Rhea-AI Summary

JinkoSolar (NYSE: JKS) said its majority-owned subsidiary Jiangxi Jinko published preliminary unaudited full-year 2025 estimates. Jiangxi Jinko's net loss attributable to shareholders is estimated at RMB5,900 million to RMB6,900 million, and excluding extraordinary gains and losses is estimated at RMB6,700 million to RMB7,800 million. The subsidiary figures are prepared under PRC GAAP and differ from JinkoSolar's consolidated results (prepared under US GAAP) due to scope and accounting differences. JinkoSolar holds approximately 55.59% equity in Jiangxi Jinko. Investors are advised to exercise caution and not base decisions solely on these preliminary unaudited results.

Positive

• Jiangxi Jinko published preliminary full-year 2025 estimates
• JinkoSolar holds approximately 55.59% equity interest in Jiangxi Jinko
• Preliminary results prepared in accordance with PRC GAAP

Negative

• Estimated net loss attributable to shareholders of RMB5,900m–RMB6,900m for 2025
• Estimated net loss excluding extraordinary items of RMB6,700m–RMB7,800m for 2025
• Preliminary figures are unaudited and may differ from consolidated US GAAP results

News Market Reaction

-2.32%

1 alert

-2.32% News Effect

On the day this news was published, JKS declined 2.32%, reflecting a moderate negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

2025 net loss range: RMB5,900 million–RMB6,900 million 2025 adj. net loss range: RMB6,700 million–RMB7,800 million Equity interest: 55.59%

3 metrics

2025 net loss range RMB5,900 million–RMB6,900 million Preliminary unaudited net loss attributable to Jiangxi Jinko shareholders, FY 2025

2025 adj. net loss range RMB6,700 million–RMB7,800 million Preliminary unaudited net loss excluding extraordinary gains/losses, FY 2025

Equity interest 55.59% JinkoSolar ownership stake in Jiangxi Jinko

Market Reality Check

Price: $27.31 Vol: Volume 1,398,597 is 1.89x...

high vol

$27.31 Last Close

Volume Volume 1,398,597 is 1.89x the 20-day average of 741,196, indicating elevated trading ahead of/around this update. high

Technical Shares trade above the 200-day MA, at 25.83 vs 200-day MA of 22.86.

Peers on Argus

JKS fell 12.44% while key solar peers showed mixed, smaller moves: CSIQ -2.05%, ...

JKS fell 12.44% while key solar peers showed mixed, smaller moves: CSIQ -2.05%, SEDG -1.47%, but SHLS +3.95%, TOYO +6.42%, ARRY +5.35%, pointing to stock-specific pressure from the Jiangxi Jinko loss guidance.

Historical Context

5 past events · Latest: Dec 29 (Neutral)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Dec 29	AGM results	Neutral	-2.1%	Routine AGM approvals including director re-elections and auditor ratification.
Nov 17	Earnings release	Negative	+13.1%	Q2–Q3 2025 results with losses but strong shipments and technology metrics.
Nov 17	AGM scheduling	Neutral	+13.1%	Announcement of 2025 AGM date and routine meeting agenda items.
Oct 30	Subsidiary earnings	Negative	-3.3%	Jiangxi Jinko Q3 2025 PRC GAAP loss and negative cash flow update.
Oct 27	Project win	Positive	+5.2%	Module supply for a Costco warehouse project in Washington State.

Pattern Detected

Recent earnings-related releases often coincided with negative price reactions, especially when highlighting losses or deteriorating metrics.

Recent Company History

Over the last year, JinkoSolar has repeatedly reported challenging financial trends, including Q1 2025 and Q3 2025 losses and weakening margins, while maintaining strong shipment volumes and technology milestones. Subsidiary Jiangxi Jinko has shown sizeable PRC GAAP net losses and negative operating cash flow. Today’s preliminary 2025 full-year loss estimates for Jiangxi Jinko extend this pattern of pressure on profitability, reinforcing concerns already evident in prior earnings and subsidiary updates.

Market Pulse Summary

This announcement highlights large preliminary unaudited net loss ranges for Jiangxi Jinko in full-y...

Analysis

This announcement highlights large preliminary unaudited net loss ranges for Jiangxi Jinko in full-year 2025, both including and excluding extraordinary items, under PRC GAAP. The company stresses that these differ from JinkoSolar’s consolidated US GAAP results and urges caution in interpretation. In context of prior earnings showing sustained losses, key items to watch include upcoming consolidated filings, any revisions to these estimates, and updates on cash flow and profitability trends.

Key Terms

prc gaap, accounting principles generally accepted in the united states

2 terms

prc gaap regulatory

"Specifically, the Jiangxi Jinko Preliminary Unaudited Financial Results are prepared in accordance with PRC GAAP"

PRC GAAP is the set of accounting rules used by companies operating in the People’s Republic of China to prepare financial statements. It determines how revenue, expenses, assets and liabilities are measured and reported, and can differ from U.S. GAAP or IFRS in ways that change reported profit or asset values—like using a different measuring tape. Investors care because those differences affect comparability, risk assessment and valuation when comparing companies across jurisdictions.

accounting principles generally accepted in the united states regulatory

"whereas the Consolidated Financials are prepared in accordance with accounting principles generally accepted in the United States"

A standard set of rules and procedures U.S. companies use to prepare their financial statements so numbers are reported consistently and can be compared across businesses. Like a shared recipe or language for financial reports, these principles make it easier for investors to understand a company’s revenue, expenses, assets and liabilities, judge its performance and risk, and make more informed investment decisions.

AI-generated analysis. Not financial advice.

SHANGRAO, China, Jan. 21, 2026 /PRNewswire/ -- JinkoSolar Holding Co., Ltd. ("JinkoSolar" or the "Company") (NYSE: JKS), one of the largest and most innovative solar module manufacturers in the world, today announced that its majority-owned principal operating subsidiary, Jinko Solar Co., Ltd. ("Jiangxi Jinko"), published estimates for certain preliminary unaudited financial results for the full year ended December 31, 2025.

For the year ended December 31, 2025, (i) preliminary unaudited net loss attributable to shareholders of Jiangxi Jinko is estimated to be in the range of RMB5,900 million to RMB6,900 million, and (ii) preliminary unaudited net loss attributable to shareholders of Jiangxi Jinko excluding extraordinary gains and losses is estimated to be in the range of RMB6,700 million to RMB7,800 million.

The preliminary unaudited financial results for Jiangxi Jinko for full year 2025 included in this press release (the "Jiangxi Jinko Preliminary Unaudited Financial Results") differ from JinkoSolar's consolidated financial results (the "Consolidated Financials"), due to (i) the consolidation scope of the Jiangxi Jinko Preliminary Unaudited Financial Results differing from that of the Consolidated Financials as the former are prepared solely for Jiangxi Jinko, whereas the Consolidated Financials also include financial statements from JinkoSolar and its other subsidiaries, and (ii) differences in accounting standards and principles used to prepare the Jiangxi Jinko Preliminary Unaudited Financial Results and the Consolidated Financials. Specifically, the Jiangxi Jinko Preliminary Unaudited Financial Results are prepared in accordance with PRC GAAP, whereas the Consolidated Financials are prepared in accordance with accounting principles generally accepted in the United States. As such, investors in JinkoSolar should exercise caution when reviewing the Jiangxi Jinko Preliminary Unaudited Financial Results included in this press release and are advised not to base their investment decisions solely on such preliminary unaudited financial results.

JinkoSolar currently owns approximately 55.59% equity interest in Jiangxi Jinko.

About JinkoSolar Holding Co., Ltd.

JinkoSolar (NYSE: JKS) is one of the largest and most innovative solar module manufacturers in the world. JinkoSolar distributes its solar products and sells its solutions and services to a diversified international utility, commercial and residential customer base in China, the United States, Japan, Germany, the United Kingdom, Chile, South Africa, India, Mexico, Brazil, the United Arab Emirates, Italy, Spain, France, Belgium, Netherlands, Poland, Austria, Switzerland, Greece and other countries and regions.

JinkoSolar had over 10 productions facilities globally, over 20 overseas subsidiaries in Japan, South Korea, Vietnam, India, Turkey, Germany, Italy, Switzerland, the United States, Mexico, and other countries, and a global sales network with sales teams in China, the United States, Canada, Brazil, Chile, Mexico, Italy, Germany, Turkey, Spain, Japan, the United Arab Emirates, Netherlands, Vietnam and India, as of September 30, 2025.

To find out more, please see: www.jinkosolar.com

Safe Harbor Statement

This press release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Among other things, the quotations from management in this press release and the Company's operations and business outlook, contain forward-looking statements. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Further information regarding these and other risks is included in JinkoSolar's filings with the U.S. Securities and Exchange Commission, including its annual report on Form 20-F. Except as required by law, the Company does not undertake any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.

For investor and media inquiries, please contact:

In China:

Ms. Stella Wang
JinkoSolar Holding Co., Ltd.
Tel: +86 21-5180-8777 ext.7806
Email: ir@jinkosolar.com

Mr. Christian Arnell
Christensen
Tel: +852 2117 0861
Email: christian.arnell@christensencomms.com

In the U.S.:

Email: jinko@christensencomms.com

View original content:https://www.prnewswire.com/news-releases/jinkosolars-subsidiary-jinko-solar-co-ltd-announces-estimates-of-certain-preliminary-unaudited-financial-results-for-full-year-2025-302666601.html

SOURCE JinkoSolar Holding Co., Ltd.

FAQ

What net loss did Jiangxi Jinko estimate for full-year 2025 in the JKS filing?

Jiangxi Jinko estimated a net loss attributable to shareholders of RMB5,900m to RMB6,900m for 2025.

What is JinkoSolar's ownership stake in Jiangxi Jinko (JKS)?

JinkoSolar currently owns approximately 55.59% equity interest in Jiangxi Jinko.

Why do Jiangxi Jinko's preliminary results differ from JinkoSolar consolidated results (JKS)?

Differences arise from consolidation scope and that Jiangxi Jinko uses PRC GAAP while consolidated results use US GAAP.

Are the Jiangxi Jinko 2025 numbers audited and final for JKS investors?

No. The numbers are described as preliminary unaudited and investors are advised not to rely on them alone.

What is the estimated net loss range excluding extraordinary items for Jiangxi Jinko in 2025?

The estimate excluding extraordinary gains and losses is RMB6,700m to RMB7,800m for 2025.