Jinkosolar Hold Stock Price, News & Analysis

JinkoSolar Holding Co., (NYSE: JKS) has completed the delivery of over 1,000 PV modules to Ohana Hope Village (OHV) in Kahului, Maui. This donation is part of a rapid response housing initiative for families displaced by the August 2023 Maui fire. The village, designed by Hawaii Off Grid Architecture & Engineering and Family Life Center, consists of 16 pods with 88 modular units functioning as distributed microgrids with solar, energy storage, and biodiesel backup generators.

The project aims to create an off-grid, carbon-neutral, and net-zero energy community. JinkoSolar's donation provides free, clean electricity, allowing OHV to allocate more resources to supporting fire survivors in their recovery efforts.

JinkoSolar (NYSE: JKS) announced its Q2 2024 financial results, reporting a 34.1% YoY increase in module shipments to 23.8 GW, leading the industry. Total revenues were RMB24.05 billion ($3.31 billion), down 21.6% YoY. Gross profit fell 44% YoY to RMB2.68 billion ($368.3 million), with a gross margin of 11.1%. The company recorded a net loss of RMB100.7 million ($13.9 million) compared to net income of RMB1.31 billion in Q2 2023. Adjusted net income was RMB378.5 million ($52.1 million).

The company achieved new technology milestones, including a 33.24% conversion efficiency for N-type TOPCon based perovskite tandem cells. It formed a joint venture in Saudi Arabia to produce 10 GW of high-efficiency solar cells.

Despite challenges like lower average selling prices, JinkoSolar maintains a robust global position, with an expected full-year shipment range of 100-110 GW and Q3 shipments between 23-25 GW.

JinkoSolar Holding Co., (NYSE: JKS), a leading solar module manufacturer, has repurchased 5,596,739 ADSs for approximately US$134.5 million under its share repurchase program. The program, announced in July 2022 and extended in December 2023, now runs through June 30, 2025. As of the press release date, about US$65.5 million remains unutilized in the extended program.

The company may continue repurchasing ADSs through various means, including open-market transactions, private negotiations, and block trades, subject to market conditions and applicable regulations. The timing and conditions of future repurchases will comply with Rule 10b-18, Rule 10b5-1 of the Securities Exchange Act of 1934, and JinkoSolar's insider trading policy.

JinkoSolar Holding Co., (NYSE: JKS), a leading solar module manufacturer, announced changes to its Board of Directors on August 20, 2024. Mr. Yingqiu Liu resigned as an independent director and ceased to be a member of the audit committee and the nominating and corporate governance committee. Mr. Gang Chu was appointed as an independent director and a member of both committees, effective immediately.

Mr. Chu brings extensive experience from his roles at China International Capital (CICC) and Citigroup. He holds a Ph.D. in theoretical physics and is a Chartered Financial Analyst. JinkoSolar's Chairman and CEO, Mr. Xiande Li, expressed gratitude to Mr. Liu and welcomed Mr. Chu, highlighting his valuable capital markets experience.

JinkoSolar Holding Co., (NYSE: JKS), a leading global solar module manufacturer, has announced its plans to release unaudited financial results for Q2 2024 on August 30, 2024, before U.S. markets open. The company will host an earnings conference call at 8:30 a.m. U.S. Eastern Time on the same day. Interested parties can pre-register for the call using the provided link. A telephone replay will be available until September 6, 2024. Additionally, a live and archived webcast of the conference call will be accessible on JinkoSolar's Investor Relations website.

JinkoSolar Holding Co., (NYSE: JKS), a leading solar module manufacturer, has announced a cash dividend of US$0.375 per ordinary share or US$1.50 per American Depositary Share (ADS). The dividend will be paid to shareholders of record as of August 15, 2024, with an expected payment date of August 30, 2024. The total distribution is estimated at US$79 million.

CEO Xiande Li stated that this dividend reflects the company's confidence in its business prospects and commitment to rewarding shareholders, despite ongoing challenges in the global PV market. This move demonstrates JinkoSolar's financial stability and positive outlook for the future.

JinkoSolar Holding Co., (NYSE: JKS) has announced a significant joint venture in Saudi Arabia to manufacture high-efficiency solar cells and modules. The company's subsidiary, JinkoSolar Middle East DMCC, will partner with Renewable Energy Localization Company (RELC) and Vision Industries Company (VI) to establish a manufacturing facility with an expected annual production capacity of 10 GW for both solar cells and modules.

The joint venture's ownership structure will be 40% JinkoSolar Middle East, 40% RELC, and 20% VI. With a total investment of approximately US$1 billion, the project aims to enhance JinkoSolar's global manufacturing capabilities and contribute to Saudi Arabia's Vision 2030 goals for sustainable energy development.

JinkoSolar Holding Co., (NYSE: JKS) has once again topped the PV Tech 2024 Q2 ModuleTech Bankability Report with an AAA rating. The company's consistent high ratings are attributed to its substantial module shipments and strong financial health. In Q1 2024, JinkoSolar's subsidiary reported total revenue of 23.083 billion RMB and net profit of 1.176 billion RMB.

JinkoSolar's focus on innovation has led to 26 record-breaking achievements in cell conversion efficiency and module power output. The company's N-type Tiger Neo series has gained global recognition, being delivered to over 4000 customers in more than 140 countries. JinkoSolar aims to continue enhancing its technological capabilities and product competitiveness to support the global energy transition.

JinkoSolar (NYSE: JKS) announced it has repurchased 4,503,178 ADSs, valued at approximately $110.7 million, under its share repurchase program initiated in July 2022 and extended in December 2023. The program will continue until June 30, 2025, with $89.3 million still available for repurchases. The buybacks will occur through various methods including open-market and privately negotiated transactions, adhering to market conditions and regulatory rules such as Rule 10b-18 and Rule 10b5-1 of the Securities Exchange Act of 1934.