JinkoSolar posts Q1 profit of USD 48m shipments reach 1.6 GW
May 27, 2016 14:05 CEST
May 27 – Chinese solar firm JinkoSolar Holding Co Ltd (NYSE:JKS) today reported a net profit of CNY 313.3 million (USD 48m/EUR 43m) for the first quarter (Q1), in which module shipments hit 1.6 GW.
Shipments were higher than these reported by peers, and JinkoSolar guided for more in the second quarter, 1.6 GW to 1.7 GW. The Q1 shipments total includes 166 MW used in own downstream projects. In Q2 that share is expected to be 100 MW-150 MW.
The growing downstream solar power business’ gross margin in Q1 was 42.3%, helping the company improve its overall gross margin to 21.3%. Jinko secured solar photovoltaic (PV) projects of 188 MW in Mexico during the reporting quarter, its first overseas projects.
As of March 31 the firm had 1,007 MW of solar power capacity connected to the grid. Its core business is the production of silicon wafer, solar cells and solar modules.
Details on JinkoSolar’s Q1 performance are available in the table.
| Results in CNY | Q1 2016 | Q4 2015 | Q1 2015 |
| Total revenues | 5.47 billion | 6.07 billion | 2.75 billion |
| – of which revenues from solar power projects |
185.5 million | 136.3 million | 102.1 million |
| Gross margin | 21.3% | 19.5% | 20.3% |
| Net income to ordinary shareholders | 313.3 million | 349.4 million | 51.0 million |
| Non-GAAP net income to ordinary shareholders | 414.6 million | 503.5 million | 171.2 million |
China remained JinkoSolar’s main market with several big orders for modules “continuing to come in”, CEO Kangping Chen said. The firm’s market share in the US is growing, and there are also opportunities in emerging markets such as Chile, Thailand and India.
The company expects total solar module shipments of 6 GW to 6.5 GW for 2016. Full year newly-added solar power project development scale is expected in the range of 600 MW to 800 MW.
As of March 31 JinkoSolar had CNY 3.37 billion in cash and cash equivalents and restricted cash and CNY 10.41 billion in total interest-bearing debts.
(CNY 10 = USD 1.524/EUR 1.363)
Recommends:
GRDE 10000mAh Solar Charger Dual USB Backup Battery Charger Portable Solar Power Bank External Power Pack for iPhone iPod Samsung Smart Phone Camera GPS -OrangePlease note that we only take responsibility for GRDE Brand Solar Chargers. Please make sure you choose seller Oceantimes when pro…
Solar Power Bank, OCTOPUS High Capacity Waterproof Portable 8000mAh Charger, Dual USB Solar Powered Battery Charger for iPhones, iPads, Samsung, Tablets, Cameras. Dustproof & Shockproof (Black/Black)*** HIGH QUALITY *** The best environmentally friendly silicone protects from rain, dirt, and shock/drops. It uses lithium pol…
SunLabz® Solar Charger Backpack (7w) INCLUDING 10,000 mAh Power Bank and 1.8L Hydration PackSo long as the sun is shinning, you’ve got power; solar power, that is. Never be left with a drained battery with our lightweight,…
Solar Power Bank
