Jinko Solar(SH:688223) Xin Lang Cai Jing·2025-10-21 07:30Core Viewpoint - JinkoSolar is focusing on N-type TOPCon technology for high-efficiency solar cells, with significant production capacity and technological advancements in the solar energy sector [2]. Company Overview - JinkoSolar, established on December 13, 2006, is headquartered in Shanghai and specializes in the research, production, and sales of solar photovoltaic modules, cells, and wafers [6]. - The company aims to provide high-quality solar energy products globally, with 100% of its revenue derived from product sales [6]. Production and Technology - The company has successfully mass-produced high-efficiency N-type TOPCon cells, with a production capacity of 16GW in Hefei and Haining, achieving a testing efficiency of 24.7% [2]. - JinkoSolar is also developing IBC and perovskite solar cell technologies, indicating a strong commitment to innovation in solar technology [2]. Financial Performance - For the first half of 2025, JinkoSolar reported a revenue of 31.83 billion yuan, a year-on-year decrease of 32.63%, and a net loss of 2.91 billion yuan, a significant decline of 342.38% compared to the previous year [6]. - The company has distributed a total of 3.355 billion yuan in dividends since its A-share listing, with 3.125 billion yuan distributed over the last three years [7]. Market Activity - On October 21, JinkoSolar's stock price increased by 0.18%, with a trading volume of 414 million yuan and a market capitalization of 54.628 billion yuan [1]. - The stock has shown signs of accumulation, but the buying pressure is not strong, with the average trading cost at 5.93 yuan and the stock price near a resistance level of 5.54 yuan [5]. Institutional Holdings - As of June 30, 2025, the second-largest shareholder is Hong Kong Central Clearing Limited, holding 438 million shares, an increase of 57.21 million shares from the previous period [8]. - Other notable institutional investors include Huaxia SSE Sci-Tech 50 ETF and E Fund SSE Sci-Tech 50 ETF, with varying changes in their holdings [8].