晶科能源2024年经营性现金流78亿，负债率下降2个百分点

Core Insights - JinkoSolar achieved a record shipment of 92.87GW in 2024, marking an 18.28% year-on-year increase and securing its position as the global leader in module shipments for the sixth consecutive year [1] - The company reported a total revenue of 92.47 billion yuan and a net profit attributable to shareholders of 0.99 billion yuan, alongside a significant operating cash flow of 7.867 billion yuan [1] - JinkoSolar's debt ratio decreased by 2 percentage points, showcasing its financial resilience amid a challenging global solar market [1] Group 1: Operational Performance - The average efficiency of battery production in the company's prime regions exceeded 26.7%, while the lab efficiency for TOPCon perovskite tandem cells reached 34.22%, indicating advancements in both mainstream and next-generation technologies [1] - The company plans to upgrade over 40% of its production capacity by 2025, aiming to establish a high-power TOPCon capacity of 40-50GW by the end of the year [1] Group 2: Global Expansion and Strategic Initiatives - JinkoSolar's overseas sales accounted for nearly 70% of total sales in 2024, reflecting its ongoing global expansion efforts [2] - The company is collaborating with the Saudi Public Investment Fund (PIF) and Vision Industries Company to develop a 10GW high-efficiency battery and module project, expected to commence production in the second half of 2026 [2] - The U.S. factory has completed upgrades and expansions, achieving full operational capacity of 2GW, which helps overcome trade barriers through localized supply [2] Group 3: Financial Strategies and Future Outlook - JinkoSolar is issuing Global Depositary Receipts (GDR) and applying for a listing on the Frankfurt Stock Exchange to enhance its international financing capabilities [2] - The company optimized its accounts payable turnover days and increased the use of supply chain finance notes, effectively reducing capital costs [2] - In 2024, JinkoSolar's energy storage system shipments exceeded 1GWh, showing significant growth and earning a spot in the BNEF Tier 1 list of energy storage manufacturers [2] - The company plans to expand its energy storage business internationally, targeting a shipment goal of 6GWh by 2025 [2]