Jinko Solar(SH:688223)2022-04-28 16:00Financial Performance - The company's revenue for Q1 2022 reached ¥14,681,280,678.68, representing an increase of 86.42% compared to the same period last year[4] - Net profit attributable to shareholders was ¥401,113,765.59, reflecting a growth of 66.39% year-over-year[4] - The net profit after deducting non-recurring gains and losses was ¥300,393,273.41, which is a significant increase of 287.78% compared to the previous year[4] - Operating profit for Q1 2022 was CNY 435,888,423.33, compared to CNY 284,857,510.47 in Q1 2021, indicating an increase of 53.0%[22] - The total comprehensive income for Q1 2022 was approximately ¥372.70 million, up from ¥231.68 million in Q1 2021, indicating a growth of 60.8%[23] - The net profit attributable to the parent company shareholders for Q1 2022 was approximately ¥401.11 million, compared to ¥241.07 million in Q1 2021, representing a year-over-year increase of 66.5%[23] Cash Flow and Liquidity - The net cash flow from operating activities was ¥295,462,950.93, up by 33.04% year-over-year[5] - As of March 31, 2022, the company's cash and cash equivalents amounted to approximately ¥28.47 billion, up from ¥18.41 billion at the end of 2021, indicating a significant increase in liquidity[18] - Cash inflow from operating activities for Q1 2022 was approximately ¥13.39 billion, an increase of 45.5% from ¥9.22 billion in Q1 2021[24] - The net cash flow from operating activities for Q1 2022 was approximately ¥295.46 million, up from ¥222.08 million in Q1 2021, marking a 33.0% increase[24] - The cash and cash equivalents at the end of Q1 2022 totaled approximately ¥15.78 billion, up from ¥6.75 billion at the end of Q1 2021, reflecting a growth of 133.5%[25] Assets and Liabilities - Total assets at the end of the reporting period were ¥92,389,274,563.00, marking a 26.78% increase from the end of the previous year[5] - Total liabilities amounted to CNY 68,562,697,305.44 in Q1 2022, compared to CNY 59,313,919,830.84 in Q1 2021, an increase of 15.5%[20] - Non-current assets totaled CNY 29,343,359,440.13 in Q1 2022, compared to CNY 25,191,856,933.56 in Q1 2021, an increase of 16.5%[19] - The company's total current assets as of March 31, 2022, were approximately ¥63.05 billion, compared to ¥47.68 billion at the same time last year, showing strong asset growth[18] Research and Development - Research and development expenses totaled ¥790,588,255.43, an increase of 56.92% compared to the same period last year[5] - Research and development expenses for Q1 2022 were CNY 231,564,901.88, up from CNY 170,535,258.61 in Q1 2021, indicating a rise of 35.8%[22] Market Position and Growth - The company attributed the revenue growth to strong global market demand and increased shipments of photovoltaic modules[10] - The company achieved a total shipment of 8,390 MW in Q1 2022, with module shipments of 8,031 MW, representing a year-over-year increase of 56.7%[16] - The company is the first in the industry to reach a cumulative global shipment of 100 GW, highlighting its leadership position in the market[16] - The company expects Q2 2022 shipments to be between 8.5 GW and 9.5 GW, with a full-year shipment forecast of 35 GW to 40 GW[16] Equity and Earnings - The equity attributable to shareholders reached ¥23,821,297,257.56, which is a 75.78% increase year-over-year[5] - The basic earnings per share were ¥0.04, reflecting a 33.33% increase compared to the same period last year[5] - The basic earnings per share for Q1 2022 was ¥0.04, compared to ¥0.03 in Q1 2021, reflecting a 33.3% increase[23] Investments and Strategic Growth - The company's long-term equity investments increased to approximately ¥419.89 million as of March 31, 2022, up from ¥314.99 million at the end of 2021, indicating strategic investment growth[18] - The company continues to optimize its product structure, contributing to significant revenue and profit growth compared to the same period last year[16]