晶科能源谈“活起来”：650W组件产能占比越大，利润拐点到来越早

Core Viewpoint - The solar industry is currently facing challenges, with companies like JinkoSolar experiencing pressure on revenue and profits. The focus has shifted from mere survival to revitalization and finding a sustainable rhythm for growth [2][3]. Group 1: Company Strategy - JinkoSolar's primary focus for 2025 is on optimizing capacity upgrades and accelerating the release of high-efficiency production rather than expanding production capacity [4]. - The company aims to ship between 85-100 GW of modules in 2025, with a visibility of orders reaching 60-70% for Q1 and over 80% in the Middle East and Asia-Pacific regions [4]. - The introduction of the Tiger Neo 3.0 series is crucial for JinkoSolar's capacity upgrade, which is expected to enhance its bargaining power within the supply chain [4][5]. Group 2: Product Development - The Tiger Neo 3.0 series, launched at the SNEC exhibition, is designed to lead the N-type development with a power output of up to 670W and an efficiency of 24.8% [5]. - This new product is projected to reduce the Levelized Cost of Energy (LCOE) and provide better investment returns, with an estimated 10% premium over traditional TOPCon products [5]. - JinkoSolar aims to transition to a production line dominated by 650W modules by the end of the year, targeting a 40-50% share of 650W and above modules in its total production capacity [5][6]. Group 3: Market Position and Competition - The company is cautious about new capacity additions, emphasizing the importance of global capabilities and local partnerships in its overseas strategy [6][7]. - JinkoSolar's current technology landscape is dominated by TOPCon, with expectations that it will remain the mainstream technology for the next five years, despite competition from BC and HJT technologies [8][10]. - The company believes that its TOPCon technology will maintain its competitive edge for at least two more years, with ongoing improvements expected to push efficiency beyond 28% in the next three years [9][10]. Group 4: Future Outlook - The Tiger Neo 3.0 components are anticipated to be available for global orders by Q4 2025, marking a significant step in JinkoSolar's product offerings [11].