Jinko Solar (JKS.US) Q4 revenue of 2.83 billion USD, shipment growth of 2.1%

On March 26 (Wednesday) before the US stock market opened, Jinko Solar (JKS.US) announced its financial results for the fourth quarter of 2024. The financial report shows that Jinko Solar's Q4 revenue was $2.83 billion; shipments were 26,462 megawatts, an increase of 2.1% compared to the previous quarter. In the fourth quarter, Jinko Solar's shipments were 26,462 megawatts, including 25,221 megawatts of CECEP Solar Energy modules and 1,241 megawatts of cells and silicon wafers. By the end of the fourth quarter, Jinko Solar became the world's first CECEP Solar Energy module manufacturer with a total delivery volume exceeding 300 GW. For the full year of 2024, total revenue was $12.64 billion, and adjusted net profit was $78.3 million. Total shipments for the year were 99,596 megawatts, an increase of 19.2% compared to the previous year, including 92,873 megawatts of CECEP Solar Energy modules and 6,723 megawatts of cells and silicon wafers. As of December 31, 2024, Jinko Solar had cash, cash equivalents, and restricted cash of 27.74 billion yuan ($3.8 billion), compared to 19.07 billion yuan as of December 31, 2023. Jinko Solar expects component shipments to be between 16.0 GW and 18.0 GW in the first quarter of 2025, and between 85.0 GW and 100.0 GW for the full year of 2025. The company expects annual production capacities to reach 120.0 GW for monocrystalline silicon wafers, 95.0 GW for CECEP Solar Energy cells, and 130.0 GW for CECEP Solar Energy modules by the end of 2025.