Jinko Solar(SH:688223)2025-04-29 13:38Financial Performance - The company's revenue for Q1 2025 was CNY 13.84 billion, a decrease of 40.03% compared to CNY 23.08 billion in the same period last year[6]. - The net profit attributable to shareholders was a loss of CNY 1.39 billion, down 218.20% from a profit of CNY 1.18 billion year-on-year[6]. - The net cash flow from operating activities was a negative CNY 2.62 billion, a decline of 323.43% compared to CNY 1.17 billion in the previous year[6]. - Total operating revenue for Q1 2025 was CNY 13.84 billion, a decrease of 40.2% compared to CNY 23.08 billion in Q1 2024[20]. - The net profit for Q1 2025 was a loss of CNY 1.45 billion, compared to a profit of CNY 1.18 billion in Q1 2024[21]. - The company's operating profit for Q1 2025 was a loss of CNY 2.08 billion, compared to a profit of CNY 1.47 billion in Q1 2024[21]. - The company reported a total comprehensive loss of CNY 1.46 billion for Q1 2025, compared to a comprehensive income of CNY 1.18 billion in Q1 2024[22]. Earnings Per Share - The basic earnings per share were CNY -0.14, a decline of 216.67% from CNY 0.12 in the previous year[6]. - The diluted earnings per share were CNY -0.14, down 227.27% from CNY 0.11 year-on-year[7]. - Basic earnings per share for Q1 2025 were CNY -0.14, compared to CNY 0.12 in Q1 2024[22]. Research and Development - Research and development expenses totaled CNY 495.90 million, a decrease of 63.17% from CNY 1.35 billion in the same period last year[7]. - Research and development expenses in Q1 2025 were CNY 128.78 million, a decrease of 57.6% from CNY 303.72 million in Q1 2024[20]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 119.03 billion, a decrease of 1.72% from CNY 121.11 billion at the end of the previous year[7]. - The total liabilities as of the end of the reporting period were CNY 86.56 billion, slightly down from CNY 87.19 billion in the previous period[19]. - The total equity attributable to shareholders was CNY 30.92 billion, a decrease from CNY 32.31 billion in the previous period[19]. - The total current assets as of March 31, 2025, amounted to RMB 66,886,217,910.95, a decrease from RMB 68,790,452,676.93 at the end of 2024[17]. - The total assets as of March 31, 2025, were RMB 119,032,648,312.30, down from RMB 121,109,877,893.38 at the end of 2024[17]. Cash Flow - In Q1 2025, the net cash flow from operating activities was -$2.62 billion, a significant decline compared to $1.17 billion in Q1 2024, indicating a negative cash flow trend[23]. - Total cash inflow from operating activities in Q1 2025 was $16.51 billion, down 25.6% from $22.18 billion in Q1 2024[23]. - Cash outflow from operating activities increased to $19.13 billion in Q1 2025, compared to $21.01 billion in Q1 2024, reflecting higher operational costs[23]. - Cash flow from investing activities showed a net outflow of -$573.37 million in Q1 2025, an improvement from -$2.39 billion in Q1 2024[24]. - Cash inflow from financing activities in Q1 2025 was $10.93 billion, up 52.5% from $7.17 billion in Q1 2024, indicating increased borrowing[24]. - The net cash flow from financing activities improved to $3.75 billion in Q1 2025, compared to a net outflow of -$3.27 billion in Q1 2024[24]. - The ending cash and cash equivalents balance increased to $24.55 billion in Q1 2025, compared to $12.73 billion in Q1 2024, showing a strong liquidity position[24]. - Cash received from the disposal of fixed assets was $62.09 million in Q1 2025, significantly higher than $16.52 million in Q1 2024, indicating asset monetization efforts[24]. - The company received $10.52 billion in borrowings in Q1 2025, a notable increase from $6.95 billion in Q1 2024, reflecting a strategy to enhance liquidity[24]. - The company reported a cash inflow of $415.13 million from other financing activities in Q1 2025, compared to $225.34 million in Q1 2024, indicating diversified funding sources[24]. Market and Industry Context - The company attributed the decline in revenue and profit primarily to the decrease in photovoltaic module prices[9]. - The company has faced pressure on profit levels due to low prices across the photovoltaic industry chain and changes in overseas trade policies[13]. - The company is actively responding to industry demand and policy changes while optimizing market strategies and supply chain management[13]. - The company is committed to maintaining its industry-leading position through continuous technology upgrades and product competitiveness[14]. - The total shipment volume for Q1 2025 was 19,130 MW, with module shipments at 17,504 MW, representing a year-over-year decrease of 12.68%[14]. - As of the end of the reporting period, the cumulative global shipment of photovoltaic modules exceeded 320 GW[14]. - The average efficiency of mass-produced high-efficiency N-type TOPCon cells reached over 26.6%[14]. - The company expects module shipments for Q2 2025 to be between 20 GW and 25 GW[14]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 73,561[10].