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JinkoSolar Holding Co., Ltd. reports developments tied to its photovoltaic manufacturing business and its NYSE-listed American depositary shares. The company operates across the solar product value chain, with silicon wafers, solar cells and solar modules sold under the JinkoSolar brand, including Tiger Neo modules. Its updates also cover energy storage systems and integrated solar-plus-storage solutions for utility, commercial and residential customers across international markets.
Recurring news themes include quarterly and annual financial results, module shipment trends, overseas market demand, photovoltaic product pricing, technology updates involving N-type TOPCon and perovskite tandem solar cells, U.S. manufacturing and supply-chain activity, and disclosures from its majority-owned principal operating subsidiary, Jinko Solar Co., Ltd., also referred to as Jiangxi Jinko.
JinkoSolar (NYSE: JKS) announced a new record with its advanced solar module achieving a conversion efficiency of 23.53%, surpassing its previous record of 23.01% set in January 2021. This achievement was validated by TÜV Rheinland and results from JinkoSolar's innovative TOPCon cell technology, which enhances performance and aesthetics. The company's commitment to R&D underscores its goal to drive energy efficiency and reduce the levelized cost of energy (LCOE). Such advancements position JinkoSolar favorably in the competitive solar market.
JinkoSolar (NYSE: JKS) announced a strategic cooperation agreement with Maersk Shipping Co., Ltd. on July 9, 2021. This agreement aims to enhance joint logistics capabilities, addressing container shortages caused by the pandemic. CEO Kangping Chen expressed optimism about increasing demand for solar energy and the expected growth in shipment capacity, highlighting JinkoSolar's global marketing system and Maersk's expertise in logistics. The partnership seeks to develop efficient logistics solutions and create a green logistics ecosystem for their clients.
JinkoSolar announced that it has submitted application documents for a potential initial public offering (IPO) of its subsidiary, Jinko Solar Co., Ltd., on the Shanghai Stock Exchange's STAR Market. The IPO aims to issue up to 2.67 billion shares, representing 10% to 25% of Jiangxi Jinko's total capital. Currently, JinkoSolar owns about 73.28% of Jiangxi Jinko, which will decrease to approximately 54.96% post-offering. Proceeds from the IPO will support capital expenditures for solar production lines and a research center, totaling RMB 5.6 billion and RMB 749.8 million, respectively.
JinkoSolar (NYSE: JKS) reported its Q1 2021 financial results, showing total revenues of RMB7.94 billion (US$1.21 billion), a decline of 6.4% year-over-year. Solar module shipments rose 33.7% to 4,562 MW. Gross profit fell 18% to RMB1.36 billion, with a gross margin of 17.1%. Net income decreased by 21.7% to RMB221.1 million. The company anticipates a gross margin between 12% and 15% for Q2 2021 and expects full-year shipments of 25-30 GW. Recent strategic investments were made to secure polysilicon supply amid rising raw material prices.
JinkoSolar (NYSE: JKS) announced a significant investment of RMB315 million in Inner Mongolia Xinte Silicon Materials Co., Ltd. This will support the construction of a high-purity polysilicon production line with an annual capacity of 100,000 tons. Upon completion, JinkoSolar will hold a 9.00% stake in Inner Mongolia Xinte. CEO Kangping Chen expressed confidence in this strategic move, emphasizing the partnership with Xinte Energy to enhance the stability of silicon material supply and reduce supply chain volatility in the growing photovoltaic industry.
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JinkoSolar, a leading solar module manufacturer, announced that its Tiger Pro dual glass module has received the world's first IEC TS 62804-1-1:2020 certification from DEKRA. This certification validates the module's exceptional anti-PID performance and quality under extreme conditions, meeting stringent safety and performance standards. The certification process involved a rigorous evaluation of potential-induced degradation in crystalline silicon PV modules. JinkoSolar aims to excel in high-performance modules, responding to the increasing market demand for efficiency and power output.
JinkoSolar (NYSE: JKS) has announced that it will release its unaudited financial results for the first quarter ending March 31, 2021, before the U.S. market opens on June 25, 2021. An earnings conference call will be held the same day at 8:00 a.m. Eastern Time, with dial-in details provided. For those unable to attend, a replay will be accessible starting two hours after the call concludes until July 2, 2021. JinkoSolar is recognized as a leading solar module manufacturer, boasting a robust production capacity across multiple locations worldwide.
JinkoSolar (NYSE: JKS) achieved a world record in solar cell efficiency with a maximum conversion rate of 25.25% for its large-area N-type monocrystalline silicon solar cells, confirmed by the National Institute of Metrology in China. This marks the third record set by the company since July 2020. The breakthrough results from advanced technologies and material upgrades in the cell fabrication process, paving the way for mass production of N-type TopCon cells. JinkoSolar emphasizes its commitment to R&D and carbon neutrality goals, enhancing its market leadership.