Jinko Solar(SH:688223)2023-04-28 16:00Financial Performance - The company's operating revenue for Q1 2023 was 2,315,274,740.12 RMB, representing a year-on-year increase of 57.70% due to increased shipments of photovoltaic modules[10]. - The net profit attributable to shareholders of the listed company reached 1,658,032,536.28 RMB, marking a significant increase of 313.36% compared to the same period last year, also driven by higher photovoltaic module shipments[10]. - The net profit after deducting non-recurring gains and losses was 1,221,362,747.52 RMB, reflecting a year-on-year increase of 306.59%[5]. - Total revenue for Q1 2023 reached ¥23.15 billion, a significant increase of 57.8% compared to ¥14.68 billion in Q1 2022[27]. - Operating profit for Q1 2023 was ¥2.05 billion, up from ¥435.89 million in Q1 2022, representing a growth of 370.5%[28]. - Net profit for Q1 2023 was ¥1.66 billion, compared to ¥401.11 million in Q1 2022, marking an increase of 314.5%[28]. - Basic earnings per share for Q1 2023 were ¥0.17, up from ¥0.04 in Q1 2022, reflecting a growth of 325%[29]. Assets and Liabilities - The company's total assets at the end of the reporting period were 110,604,923,710.21 RMB, an increase of 4.70% from the end of the previous year[7]. - Total liabilities as of March 31, 2023, amounted to RMB 82,208,774,327.09, compared to RMB 78,949,370,389.50 at the end of 2022[26]. - The company reported total current assets of RMB 70,831,919,167.76, an increase from RMB 67,246,856,849.44 at the end of 2022[19]. - The company’s total assets reached RMB 110,604,923,710.21, up from RMB 105,639,433,784.87 at the end of 2022[26]. - The company’s total equity attributable to shareholders reached RMB 28,396,149,383.12, compared to RMB 26,690,063,395.37 at the end of 2022[26]. Shareholder Information - The equity attributable to shareholders of the listed company increased to 28,396,149,383.12 RMB, up 6.39% from the end of the previous year[6]. - The total number of ordinary shareholders at the end of the reporting period was 70,563, with significant holdings concentrated among the top shareholders[14]. Cash Flow and Expenses - The net cash flow from operating activities was -289,686,624.15 RMB, indicating an increase in cash payments for raw material purchases[5]. - Cash flow from operating activities for Q1 2023 was negative at -¥289.69 million, compared to a positive cash flow of ¥295.46 million in Q1 2022[31]. - The company’s cash and cash equivalents decreased to RMB 17,616,780,418.16 from RMB 19,985,441,372.61 at the end of 2022[19]. - Cash and cash equivalents at the end of Q1 2023 totaled ¥7.28 billion, down from ¥15.78 billion at the end of Q1 2022[32]. - Research and development expenses totaled 1,091,766,803.88 RMB, accounting for 4.72% of operating revenue, a decrease of 0.67 percentage points year-on-year[7]. - Research and development expenses increased to ¥346.62 million in Q1 2023, up from ¥231.56 million in Q1 2022, indicating a rise of 49.8%[27]. - Total operating costs for Q1 2023 were ¥21.74 billion, an increase of 48.5% from ¥14.61 billion in Q1 2022[27]. Shipment and Production - In Q1 2023, the company achieved a total shipment volume of 14,490 MW, with module shipments of 13,038 MW, representing a year-on-year increase of 72.71%[17]. - The company’s cumulative global module shipment exceeded 150 GW by the end of the reporting period[17]. - The average efficiency of the 35 GW N-type TOPCon battery mass production reached 25.3%[17]. - The company expects module shipments for Q2 2023 to be between 16 GW and 18 GW, driven by strong demand and a full order book[17]. Non-Recurring Gains - The company reported a non-recurring gain of 436,669,788.76 RMB, primarily from government subsidies and other non-operating income[9]. Future Outlook - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[30].