Company Overview - Jeno Solar has seen a significant rally, reaching its highest level in over a year due to improving quarter-over-quarter profitability and rising momentum in its energy storage business [1][2] - The company is a dominant player in the solar industry, focusing on power distribution, solar wafers, modules, and global manufacturing [4] Financial Performance - Jeno Solar reported an adjusted loss of $21 per share, which was in line with estimates, while sales decreased by 2.27 billion, missing expectations by approximately 425 million [5] - Year-over-year sales were down about 34%, but the company anticipates a 90% increase in total orders going into 2026 [5] - Analyst estimates project sales of approximately 10.4 billion for this year and around 14.66 billion for the next fiscal year, indicating a potential 42% year-over-year growth [6] Market Dynamics - The energy market is experiencing shortages, leading to increased demand for alternative energy solutions, including solar [2][3] - The utility-grade solar market is expected to see improved economics, driven by demand from local utilities and government projects, contrasting with the saturated residential solar market [12][13] Future Outlook - Jeno Solar's earnings per share (EPS) is projected to improve significantly, with estimates suggesting a profit of $160 adjusted EPS by 2026, compared to a loss of $7.25 this year [13] - The company is well-positioned to benefit from the growing demand for utility-grade solar installations, which are supported by government funding [10][12]

Core Insights - JinkoSolar continues to be a leading player in the solar module manufacturing industry, despite facing financial challenges and competition from major companies like First Solar and Canadian Solar [1] Financial Performance - For Q3 2025, JinkoSolar reported an earnings per share (EPS) of -$0.014, significantly better than the estimated EPS of -$2.56, indicating a better-than-expected performance despite ongoing losses [2][6] - The company's revenue for the same period was approximately $2.27 billion, which fell short of the estimated $2.72 billion, highlighting challenges in meeting market expectations [2][6] - JinkoSolar reported a net loss of $122.3 million in Q2 and $105.3 million in Q3, reflecting ongoing financial difficulties [4] Operational Performance - JinkoSolar achieved global module shipments of 61.9 gigawatts in the first three quarters of 2025, maintaining its position as the top-ranked solar module supplier worldwide [3][6] - The company's gross margin improved from 2.9% in Q2 to 7.3% in Q3, attributed to strong performance in high-value overseas markets and product excellence [3] Market Position and Analyst Ratings - Analyst ratings for JinkoSolar are mixed, with Goldman Sachs maintaining a Sell rating but raising the price target from $15 to $18, while UBS maintains a Neutral rating [5] - JinkoSolar's stock saw a 2.7% increase, closing at $27.04, indicating some market optimism despite the financial challenges [5] - The company's debt-to-equity ratio stands at 2.31, indicating a higher level of debt compared to equity, while a current ratio of 1.33 suggests reasonable liquidity to cover short-term liabilities [5]

Core Insights - JinkoSolar is a leading global solar panel manufacturer based in China, involved in the entire production process from wafers to finished panels [1] Company Overview - JinkoSolar operates as a vertically integrated company, controlling all aspects of solar panel production [1] Market Position - The company is recognized as one of the heavyweight players in the solar panel industry, indicating a strong market presence [1]

Financial Data and Key Metrics Changes - Global module shipments totaled 61.9 GW in the first three quarters of 2025, ranking number one worldwide [4] - Gross margin improved sequentially to 2.9% in Q2 and 7.3% in Q3 [4][20] - Net loss continued to narrow sequentially, with operating cash flow reaching $340 million in Q3 [4][20] - Total revenue for Q3 was $2.27 billion, down 34% year-over-year [20] - Total operating expenses were RMB 363 million in Q3, up 36% sequentially [21] Business Line Data and Key Metrics Changes - Energy storage system (ESS) shipments exceeded 3.3 GWh in the first three quarters, showing significant growth [4][5] - Module shipments accounted for 93% of total shipments in Q3, with a focus on high-value overseas markets [15] - High-power products, particularly the Tiger Neo series, are expected to account for over 60% of shipments in 2026 [8][16] Market Data and Key Metrics Changes - Shipments to the U.S. were nearly 1.3 GW in Q3, doubling sequentially [15] - The company is focusing on high-margin overseas markets, particularly in Asia-Pacific, emerging markets, and Europe [15][10] - Demand for energy storage is increasing globally, driven by renewable energy penetration and declining storage system costs [9][10] Company Strategy and Development Direction - The company is investing in energy storage to build a long-term competitive advantage [10] - Plans to maintain reasonable production levels while upgrading high-efficiency capacity [14] - Total shipments for 2025 are expected to be between 85 GW and 100 GW, with ESS shipments projected at 6 GWh [14] Management's Comments on Operating Environment and Future Outlook - Management noted that the global supply chain is improving, and demand is expected to grow, particularly for energy storage [12] - The company anticipates a significant increase in revenue contributions from the energy storage business next year [29] - Management expressed confidence in navigating market cycles and achieving positive earnings in the future [66] Other Important Information - The company was recognized as a Tier One Energy Storage provider for the seventh consecutive quarter [17] - The MSCI ESG rating was upgraded to an A rating, reflecting strong sustainable development efforts [17] Q&A Session Summary Question: Difference in gross margins compared to Canadian Solar - Management explained that the difference is due to varying revenue contributions from the energy storage business, with expectations for significant growth in 2026 [28][29] Question: Geographic shipment mix for energy storage in 2026 - Management expects 70%-80% of ESS shipments to be outside China, particularly in the U.S. and Europe [32][33] Question: Compliance with foreign entity of concern requirements - Management indicated that they do not foresee significant negative impacts from compliance requirements and are exploring options for their solar module facilities in Florida [34][35] Question: Demand from AI data centers - Management confirmed ongoing discussions with potential clients in the AI data center sector, anticipating significant demand [40] Question: CapEx targets for 2025 and 2026 - Management stated that CapEx is expected to remain around RMB 5 billion for both years, focusing on upgrading to next-generation technology [62][63] Question: Guidance for module shipments in Q4 - Management indicated that they expect to close to the lower end of the previously provided range for Q4 module shipments [59] Question: Market share expectations for next year - Management expressed confidence in regaining market share as the industry consolidates, with expectations for stable demand [68]

Financial Data and Key Metrics Changes - In the first three quarters of 2025, global module shipments totaled 61.9 GW, ranking number one worldwide, with gross margin improving to 2.9% in Q2 and 7.3% in Q3 [4][20] - Net loss continued to narrow sequentially, with operating cash flow reaching $340 million in Q3, expected to be positive for the full year 2025 [4][20] - Total revenue for Q3 was $2.27 billion, down 10% sequentially and 34% year over year, primarily due to a decrease in solar module shipments and average selling price [20][21] Business Line Data and Key Metrics Changes - Energy storage system (ESS) shipments exceeded 3.3 GWh in the first three quarters, showing significant growth, with expectations to double next year [4][5] - The company expects the revenue contribution from the ESS business to rise significantly, targeting 10%-15% of total revenues next year [29] - High-power product upgrades are underway, with expectations for high-power products to account for over 60% of shipments in 2026 [8][14] Market Data and Key Metrics Changes - The company reported strong growth in high-value overseas markets, with shipments to the U.S. nearly doubling sequentially to 1.3 GW in Q3 [14] - Demand for energy storage is increasing globally, driven by renewable energy penetration and declining storage system costs, particularly in Europe, Asia-Pacific, and the U.S. [9][10] - The company anticipates a slight contraction in global PV demand in 2026, primarily due to a decrease in demand from China [16][18] Company Strategy and Development Direction - The company is focusing on high-power production capacity and technological upgrades to meet customer demand for reliable investment returns [8][11] - The strategic decision to invest in the energy storage business aligns with industry trends, aiming to build a long-term competitive advantage [10][12] - The company plans to maintain reasonable production levels while upgrading high-efficiency capacity to adapt to changes in overseas policies [13] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the energy storage business's growth potential, expecting significant revenue contributions and gross margin expansions in 2026 [28][29] - The company is optimistic about the long-term prospects of the U.S. market despite trade policy constraints, focusing on providing stable and reliable solutions [19] - The company expects total shipments for 2025, including solar modules, cells, and wafers, to be between 85 GW-100 GW, with ESS shipments at 6 GWh [13] Other Important Information - The company achieved a gross profit margin of 7.3% in Q3, with total operating expenses increasing sequentially due to higher impairment of long-lived assets [20][21] - The company was recognized as a Tier One Energy Storage provider for the seventh consecutive quarter, reflecting its strong market position [16] - The company plans to use proceeds from monetization issues for share repurchases, committing at least $100 million annually for shareholder returns [47][49] Q&A Session Summary Question: Difference in gross margins compared to Canadian Solar - Management noted that the gross margin difference is primarily due to varying revenue contributions from the energy storage business, with expectations for significant growth in 2026 [27][28] Question: Geographic shipment mix for 2026 - Management anticipates that 70%-80% of ESS shipments will be non-China, with strong pipelines from the U.S., Europe, and Latin America [30] Question: Compliance with foreign entity of concern requirements - Management stated that they do not foresee significant negative impacts from FEOC compliance and are exploring options for solar module facilities in Florida [33][34] Question: Demand from AI data centers - Management confirmed ongoing discussions with AI data centers regarding their demand for energy storage solutions [38][39] Question: Gross margin variations across regions for ESS - Management indicated that margins vary by region, with China and the Middle East being more competitive, while Europe and the U.S. have healthier margins [40][41] Question: CapEx targets for 2025 and 2026 - Management confirmed a CapEx target of approximately RMB 5 billion for both years, focusing on upgrading to next-generation TOPCon technology [60][61] Question: Guidance for module shipments in Q4 - Management expects to close to the lower end of the previously provided range for Q4 module shipments due to regulatory requirements [57] Question: Market share expectations for next year - Management expressed confidence in regaining market share as the industry consolidates, with expectations for stable module shipments [66]

Core Insights - JinkoSolar reported a significant net loss of RMB749.79 million (US$105.32 million) for Q3, contrasting with a net income of RMB22.53 million in the same quarter last year [1] - Total revenues for the quarter decreased by 34.1% to RMB16.16 billion (US$2.27 billion) from RMB24.51 billion year-over-year [1] Shipment and Production Outlook - Quarterly shipments reached 21,570 MW, which includes 20,014 MW for solar modules and 1,556 MW for cells and wafers, marking a 16.7% increase year-over-year [2] - For Q4, the company anticipates total solar module shipments to range between 18.0 GW and 33.0 GW [2] - For the full year 2025, JinkoSolar estimates total shipments, including solar cells and wafers, to be between 84 GW and 100 GW, with energy storage system (ESS) shipments expected to be around 6 GWh [3] - The company projects its annual production capacity for mono wafers, solar cells, and solar modules to reach 120.0 GW, 95.0 GW, and 130.0 GW, respectively, by the end of 2025 [3]

The information herein has been prepared by the Company solely for use in this presentation. The information contained in this presentation has not been independently verified. No representation, warranty or undertaking, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or the opinions contained herein. None of the Company or any of its affiliates, advisors or representatives will be liable (in negligence or otherwi ...

Accessibility StatementSkip Navigation SHANGRAO, China, Nov. 17, 2025 /PRNewswire/ -- JinkoSolar Holding Co., Ltd. ("JinkoSolar" or the "Company") (NYSE: JKS), one of the largest and most innovative solar module manufacturers in the world, today announced its unaudited financial results for the second quarter ended June 30, 2025 and third quarter ended September 30, 2025. Third Quarter 2025 Business Highlights Third Quarter 2025 Operational and Financial Highlights Second Quarter 2025 Operational and Financ ...

JinkoSolar Holding Co., Ltd. (NYSE:JKS) will release earnings results for the third quarter, before the opening bell on Monday, Nov. 17.Analysts expect the China-based company to report a quarterly loss of $1.60 per share on revenue of $2.51 billion, according to data from Benzinga Pro.On Sept. 12, JinkoSolar announced the proposed sale of A shares in its subsidiary, Jinko Solar Co., Ltd., through Inquiry Transfer and Placement.Shares of JinkoSolar gained 2.7% to close at $27.04 on Friday.Benzinga readers c ...

JinkoSolar Holding Co., Ltd. (NYSE:JKS) will release earnings results for the third quarter, before the opening bell on Monday, Nov. 17.Analysts expect the China-based company to report a quarterly loss of $1.60 per share on revenue of $2.51 billion, according to data from Benzinga Pro.On Sept. 12, JinkoSolar announced the proposed sale of A shares in its subsidiary, Jinko Solar Co., Ltd., through Inquiry Transfer and Placement.Shares of JinkoSolar gained 2.7% to close at $27.04 on Friday.Benzinga readers c ...