Jinko Solar: Controlling Shareholder’s $12.64B 2024 Revenue, 85 - 100GW 2025 Module Shipments.

On March 26th, JinkoSolar Co., Ltd. (SH: 688223) released the Q4 and full - year 2024 financial results of its controlling shareholder JinkoSolar Holding Co., Ltd. (NYSE: JKS), as well as the shipment forecasts for Q1 and the whole year of 2025.

The announcement shows that in Q4 2024, JKS's total shipment volume reached 26,462 megawatts (including 25,221 megawatts of solar modules, 1,241 megawatts of solar cells and silicon wafers), representing a 2.1% quarter - on - quarter increase and a 5.0% year - on - year decrease. The revenue in Q4 2024 amounted to RMB 20.65 billion (US$2.83 billion), a 15.7% decline quarter - on - quarter and a 37.1% decrease year - on - year. The quarter - on - quarter and year - on - year decreases were mainly due to the decline in the average selling price of solar modules.

In 2024, JKS's shipment volume reached 99,596 megawatts (including 92,873 megawatts of solar modules, 6,723 megawatts of solar cells and silicon wafers), a 19.2% year - on - year increase. The total revenue in 2024 was RMB 92.26 billion (US$12.64 billion), a 22.3% year - on - year decrease. The decrease in total revenue was mainly due to the decline in the average selling price of solar modules.

JKS expects the module shipment volume in Q1 2025 to be between 16 gigawatts and 18 gigawatts, and the module shipment volume for the whole year of 2025 is expected to be between 85 gigawatts and 100 gigawatts.