Core Insights - JinkoSolar achieved a revenue of 31.831 billion yuan and shipped 45.58 GW of photovoltaic products in the first half of 2025, maintaining its position as the industry leader in module shipments [1] Product Innovation and Market Strategy - The company continues to strengthen its N-type technology, with the TigerNeo series reaching a cumulative global shipment of approximately 200 GW, making it the best-selling module series in history [2] - JinkoSolar's product offerings include various advanced technologies such as N-type TOPCon, bifacial, half-cell, and multi-busbar, aimed at maximizing customer value and reducing the levelized cost of electricity (LCOE) [2] - The company anticipates module shipments of 20 GW to 23 GW in Q3 2025, driven by ongoing product innovation and differentiation [2] Global Market Presence - Over 60% of JinkoSolar's shipments in the first half of 2025 were overseas, with significant market shares in Japan, Saudi Arabia, and emerging markets in the Middle East, Southeast Asia, and Latin America [3] - The company has achieved a shipment volume in Pakistan that matches the total for the entire year of 2024, indicating strong market penetration [3] Integration of Energy Storage - JinkoSolar is actively promoting integrated solar and storage solutions, focusing on commercial and large-scale energy storage projects, with significant growth in storage orders and shipments [3] Digital Transformation and Operational Efficiency - The company has implemented advanced manufacturing technologies at its Shanxi base, reducing production time from 22 days to 7 days and lowering operational costs by 25% [4] - JinkoSolar is embracing AI and has completed an overall design for its AI transformation, aiming to enhance global resource allocation and internal management efficiency [4] Strategic Focus - JinkoSolar emphasizes technology innovation, global expansion, and efficient management as core strategies to build a differentiated competitive advantage amid industry challenges [5]

交易行情显示，8月27日，晶科能源股价收跌3.48%，收于5.54元/股，总市值554.3亿元。 北京商报讯（记者 马换换 王蔓蕾）8月27日晚间，晶科能源（688223）发布2025年半年度报告显示，公 司上半年实现归属净利润约为-29.09亿元，同比由盈转亏。 中报显示，2025年上半年，晶科能源实现营业收入约为318.31亿元，同比下降32.63%；对应实现归属净 利润约为-29.09亿元，同比由盈转亏。 ...

Core Viewpoint - JinkoSolar reported a significant shipment of 45.58GW of photovoltaic products in the first half of 2025, maintaining its position as the industry leader despite facing challenges from low global component prices and a net loss of 2.909 billion yuan [1][2] Group 1: Financial Performance - The company achieved a revenue of 31.831 billion yuan in the first half of 2025, with a net profit attributable to shareholders of -2.909 billion yuan [1] - In Q2 2025, the company reported a reduction in net loss by 555 million yuan and an improvement in gross margin by 2.27 percentage points [1] Group 2: Market Position and Product Performance - JinkoSolar's N-type Tiger Neo series has become the best-selling module series globally, with cumulative shipments reaching approximately 200GW [2] - The company expects to ship between 20-23GW of components in Q3 2025, indicating stability in overseas demand despite domestic market fluctuations [2] Group 3: Innovation and Technology - The company continues to invest in N-type TOPCon technology, achieving a maximum conversion efficiency of 25.58% for its N-type TOPCon modules [3] - JinkoSolar plans to upgrade 40%-50% of its production capacity to over 640W by the end of 2025, with mainstream power expected to reach 650-670W by 2026 [3] Group 4: Future Strategy and Growth - The company is focusing on smart manufacturing and digital ecosystem development to build future competitive advantages, reducing production cycles significantly [4] - JinkoSolar is also enhancing its energy storage solutions, targeting a shipment goal of 6GWh for the second half of 2025 [4]

人民财讯8月27日电，晶科能源(688223)8月27日晚间披露半年报，2025年上半年，公司实现营业收入为 318.31亿元，同比下降32.63%；归母净利润-29.09亿元，去年同期净利润12亿元，同比由盈转亏；基本 每股收益-0.29元。报告期内，营业收入同比减少，主要原因是光伏市场竞争加剧，光伏产品价格持续 下跌导致主营业务收入下降。 ...

Core Viewpoint - JinkoSolar reported a significant decline in revenue and profit for the first half of 2025, indicating financial challenges in the solar energy sector [1][2]. Financial Performance - The company's revenue for the first half of 2025 was 31.831 billion yuan, a year-on-year decrease of 32.63% [1]. - The net profit attributable to shareholders was -2.909 billion yuan, a year-on-year decline of 342.38% [1]. - The non-recurring net profit attributable to shareholders was -3.175 billion yuan, down 1560.33% year-on-year [1]. - Basic earnings per share were -0.29 yuan [2]. Profitability Metrics - The gross margin for the first half of 2025 was -2.01%, a decrease of 10.57 percentage points year-on-year [2]. - The net margin was -9.32%, down 11.86 percentage points compared to the same period last year [2]. - In Q2 2025, the gross margin was -1.02%, a year-on-year decline of 8.62 percentage points, but an increase of 2.27 percentage points from the previous quarter [2]. - The net margin for Q2 2025 was -8.40%, down 8.50 percentage points year-on-year, but up 2.10 percentage points from the previous quarter [2]. Expense Analysis - Total operating expenses for the first half of 2025 were 2.768 billion yuan, a decrease of 1.47 billion yuan year-on-year [2]. - The expense ratio was 8.69%, an increase of 2.53 percentage points compared to the same period last year [2]. - Sales expenses increased by 12.40% year-on-year, while management expenses decreased by 23.59%, R&D expenses decreased by 7.34%, and financial expenses increased by 90.42% [2]. Company Overview - JinkoSolar, established on December 13, 2006, is located in Shanghai and was listed on January 26, 2022 [3]. - The company specializes in the research, production, and sales of solar photovoltaic modules, cells, and wafers, providing high-quality solar products globally [3]. - The revenue composition includes photovoltaic modules (96.33%), other (2.62%), photovoltaic cells (0.89%), and wafers (0.16%) [3]. - JinkoSolar is classified under the power equipment industry, specifically in photovoltaic equipment and components [3].

晶科能源8月27日公告，上半年营业收入318.31亿元，同比下降32.63%；归属于上市公司股东的净亏损 29.09亿元，上年同期净利润12亿元。 ...

Core Viewpoint - JinkoSolar reported a significant decline in net profit due to low global component prices, but showed signs of recovery in Q2 2025 with improved non-GAAP net profit and gross margin [1][2] Group 1: Financial Performance - The company achieved a revenue of 31.831 billion yuan in the first half of 2025 [1] - The net profit attributable to shareholders was -2.909 billion yuan, indicating a loss [1] - In Q2 2025, the company reduced its non-GAAP net loss by 555 million yuan, with a gross margin improvement of 2.27 percentage points [1] Group 2: Market Position and Product Performance - JinkoSolar maintained its position as the industry leader with a solar module shipment of 41.84 GW in the first half of 2025 [1] - The N-type Tiger Neo series high-efficiency modules achieved a cumulative shipment of approximately 200 GW, making it the best-selling module series in history [1] - The company expanded its overseas market presence, with over 60% of shipments going abroad, and emerging markets like the Middle East, Southeast Asia, and Latin America accounting for over 30% of sales [1] Group 3: Technological Innovation - JinkoSolar is focusing on N-type TOPCon technology, achieving a maximum conversion efficiency of 25.58% [2] - The company plans to upgrade 40%-50% of its production capacity to over 640W by the end of 2025, with mainstream power expected to reach 650-670W by 2026 [2] - The company anticipates a sales premium of 0.5-1 cent per watt from upgraded capacity, contributing to industry competitiveness [2] Group 4: Energy Storage Business - The company's energy storage business is accelerating, focusing on commercial and large-scale storage projects [2] - JinkoSolar completed the delivery iteration of the SunTera large storage system and SunGiga commercial products, with growth in storage orders and shipments exceeding expectations [2] - The company aims to achieve a shipment target of 6 GWh for the second half of 2025 [2]

| 证券代码：688223 | 证券简称：晶科能源 | 公告编号：2025-045 | | --- | --- | --- | | 债券代码：118034 | 债券简称：晶能转债 | | 晶科能源股份有限公司 2025 年半年度募集资金存放、管理与实际使用情况 的专项报告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实性、准确性和完整性依法承担法律责任。 根据《上市公司监管指引第2号——上市公司募集资金管理和使用的监管要 求》（以下简称"《募集资金监管要求》"）、《上海证券交易所科创板上市 公司自律监管指引第1号——规范运作》（以下简称"《规范运作》"）、《上 海证券交易所科创板股票上市规则》（以下简称"《上市规则》"）等有关法 律、法规及相关文件的规定，晶科能源股份有限公司（以下简称"公司"）就 2025年半年度募集资金存放、管理与实际使用情况专项报告说明如下： 一、募集资金基本情况 （一）首次公开发行股票实际募集资金情况 根据中国证券监督管理委员会《关于同意晶科能源股份有限公司首次公 开发行股票注册的批复》（证监许可〔2021〕4127号），公司由保荐人 ...

| 证券代码：688223 | 证券简称：晶科能源 | 公告编号：2025-049 | | --- | --- | --- | | 债券代码：118034 | 债券简称：晶能转债 | | 董事会 晶科能源股份有限公司 2025 年 8 月 28 日 关于符合先进制造业企业增值税加计抵减政策 的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性依法承担法律责任。 特此公告。 晶科能源股份有限公司 根据《财政部、税务总局关于先进制造业企业增值税加计抵减政策的公告》 （财政部 税务总局公告 2023 年第 43 号），自 2023 年 1 月 1 日至 2027 年 12 月 31 日，允许先进制造业企业按照当期可抵扣进项税额加计 5%抵减应纳增值税税 额，上述先进制造业企业是指高新技术企业（含所属的非法人分支机构）中的制 造业一般纳税人。 晶科能源股份有限公司（以下简称"公司"）下属子公司浙江晶科能源有限 公司、晶科能源（海宁）有限公司、安徽晶科能源有限公司等合并报表范围子公 司目前符合先进制造业企业条件，符合上述增值税加计抵减的税收优惠政策 ...

| 证券代码：688223 | 证券简称：晶科能源 | 公告编号：2025-047 | | --- | --- | --- | | 债券代码：118034 | 债券简称：晶能转债 | | 晶科能源股份有限公司（以下简称"公司"）于 2025 年 8 月 27 日以通讯方式 召开公司第二届董事会第十八次会议、第二届监事会第十一次会议，审议通过了 《关于使用部分闲置募集资金暂时补充流动资金的议案》，同意公司本次使用额 度不超过人民币 133,600 万元的闲置募集资金暂时补充流动资金，使用期限自本 次董事会审议通过之日起不超过 12 个月。公司保荐人中信建投证券股份有限公 司（以下简称"中信建投"或"保荐人"）对本事项出具了明确同意的核查意见。 一、募集资金基本情况 根据中国证券监督管理委员会《关于同意晶科能源股份有限公司向不特定对 象发行可转换公司债券注册的批复》（证监许可〔2023〕683 号），公司获准向 不特定对象发行可转换公司债券 10,000.00 万张，每张面值为人民币 100.00 元， 募集资金总额为 1,000,000.00 万元，扣除承销及保荐费用 2,700.00 万元（不含增 值税）后实 ...