Jinko Solar(SH:688223)2023-10-30 16:00Financial Performance - The company's operating revenue for Q3 2023 reached ¥31,472,212,191.79, representing a year-on-year increase of 62.53%[1] - Net profit attributable to shareholders for Q3 2023 was ¥2,511,403,983.62, a significant increase of 225.79% compared to the same period last year[1] - The net profit attributable to shareholders after deducting non-recurring gains and losses for Q3 2023 was ¥2,510,894,179.89, up 252.28% year-on-year[5] - The basic earnings per share for Q3 2023 was ¥0.25, reflecting a 212.50% increase compared to the same period last year[5] - Total revenue for the first three quarters of 2023 reached ¥85,096,642,123.23, a significant increase from ¥52,771,724,353.12 in the same period of 2022, representing a growth of approximately 61.5%[43] - Net profit for the first three quarters of 2023 was ¥6,354,264,293.50, compared to ¥1,675,963,797.86 in the previous year, indicating a substantial increase of about 278.5%[46] - Basic earnings per share for the third quarter of 2023 was ¥0.64, up from ¥0.17 in the same quarter of the previous year, representing a growth of approximately 276.5%[47] - The total comprehensive income for the first three quarters of 2023 was ¥6,446,190,315.91, compared to ¥2,040,359,626.06 in the same period of 2022, reflecting an increase of approximately 215.5%[46] Assets and Liabilities - The total assets at the end of Q3 2023 amounted to ¥124,330,068,848.76, an increase of 17.69% from the end of the previous year[5] - Total assets as of the end of the reporting period amounted to ¥124,330,068,848.76, up from ¥105,639,433,784.87, reflecting a growth of approximately 17.6%[42] - Total liabilities increased to ¥91,126,308,940.50 from ¥78,949,370,389.50, marking an increase of about 15.5%[38] - The company's equity attributable to shareholders reached ¥33,203,759,908.26, compared to ¥26,690,063,395.37, which is an increase of approximately 24.5%[42] - The company's accounts receivable increased to approximately RMB 25.66 billion from RMB 16.59 billion year-on-year[18] - The company's inventory reached approximately RMB 19.15 billion, compared to RMB 17.45 billion at the end of 2022[21] - The total current liabilities increased to approximately RMB 66.23 billion from RMB 61.79 billion at the end of 2022[34] - The company's non-current assets totaled approximately RMB 43.28 billion, up from RMB 38.39 billion at the end of 2022[28] - Non-current liabilities totaled ¥24,895,355,042.00, up from ¥17,160,672,324.75, indicating an increase of approximately 45.1%[38] Cash Flow - The net cash flow from operating activities for the year-to-date period reached ¥11,103,131,362.39, a year-on-year increase of 390.99%[5] - In the first three quarters of 2023, the cash inflow from operating activities reached ¥76.49 billion, a significant increase of 42.5% compared to ¥53.68 billion in the same period of 2022[48] - The net cash flow from operating activities for the first three quarters of 2023 was ¥11.10 billion, up from ¥2.26 billion in the same period of 2022, marking a growth of 389.5%[48] - The cash inflow from sales of goods and services in the first three quarters of 2023 was ¥68.11 billion, compared to ¥47.48 billion in the same period of 2022, indicating a growth of 43.4%[48] - The cash outflow for investing activities totaled ¥12.62 billion in the first three quarters of 2023, compared to ¥9.86 billion in the same period of 2022, reflecting an increase of 28.0%[50] - The net cash flow from financing activities was ¥3.69 billion in the first three quarters of 2023, a decrease of 68.4% from ¥11.65 billion in the same period of 2022[50] - The total cash and cash equivalents at the end of Q3 2023 amounted to ¥11.25 billion, down from ¥12.38 billion at the end of Q3 2022, representing a decline of 9.1%[50] Research and Development - Research and development expenses for Q3 2023 totaled ¥1,709,959,289.06, accounting for 5.43% of operating revenue[5] - Research and development expenses for the first three quarters of 2023 totaled ¥1,174,562,757.90, compared to ¥841,816,159.44 in the previous year, indicating an increase of about 39.6%[45] - The company continues to enhance its R&D investments, reflecting its commitment to innovation and market expansion strategies[9] Production and Shipments - The company reported a significant increase in photovoltaic module shipments, contributing to the revenue growth and improved gross profit margins[8] - In the first nine months of 2023, the company achieved a total shipment of 55.7 GW, with a component shipment of 52.2 GW, representing an increase of 86.91% compared to the same period last year[14] - The company has established a production capacity of over 55 GW for N-type TOPCon batteries, with an average efficiency of 25.6% in mass production[14] - The company expects a component shipment of approximately 23 GW in the fourth quarter, with a further increase in the proportion of N-type products[14] - The company is confident in exceeding its annual component shipment target of 70-75 GW[14] - The company is focused on maintaining its leading advantage in N-type technology and exploring product efficiency improvements and cost reductions[14]