FCC

Jinko Solar's Q2 income soars to $331M with module boost

2023-08-18

China's prominent solar cell and module manufacturer, Jinko Solar, witnessed a remarkable turnaround in its financial performance for Q2 2023. The company reported a net income of approximately $331.38 million, a stark contrast to the net loss of about $47.64 million in Q2 2022. This significant boost in net income, which saw a 73% increase quarter-over-quarter (QoQ), is primarily attributed to the company's escalated module shipments. The shipments for the quarter reached 18,613 MW, marking a 77% year-over-year (YoY) increase. Notably, the module shipments alone surged by 74% YoY. Jinko Solar's transition to its N-type module was a highlight, with Q2 2023 shipments standing at 10.4 GW. This achievement made Jinko Solar the pioneer in delivering 10 GW of N-type modules in a single quarter. Furthermore, the company's total revenue for the quarter was approximately $4.22 billion, reflecting a 63% YoY growth. Xiande Li, Chairman and CEO of Jinko Solar, expressed satisfaction over the company's growth trajectory, emphasising their effective supply chain management and high-quality products.