JinkoSolar's Subsidiary, Jinko Solar Co., Ltd., Announces Third Quarter 2025 Unaudited Financial Results

Core Viewpoint - JinkoSolar's majority-owned subsidiary, Jiangxi Jinko, reported significant declines in financial performance for the third quarter of 2025, with total operating revenue dropping by 34.11% year-over-year and a substantial net loss attributable to owners of the parent company [1][2][3]. Financial Performance Summary - Total Assets: As of September 30, 2025, total assets were RMB 117.20 billion, down 3.23% from RMB 121.11 billion as of December 31, 2024 [3]. - Total Equity: Total equity attributable to the parent company decreased by 12.14% to RMB 28.39 billion from RMB 32.31 billion [3]. - Operating Revenue: Total operating revenue for the three months ended September 30, 2025, was RMB 16.15 billion, a decrease of 34.11% compared to RMB 24.48 billion for the same period in 2024 [3]. - Net Profit/Loss: The net loss attributable to owners of the parent company was RMB 1.01 billion, representing a 6,900.55% increase in loss compared to the previous year [3]. - Cash Flow: Net cash used in operating activities for the nine months ended September 30, 2025, was RMB 1.34 billion, an increase of 267.83% compared to the same period in 2024 [3]. - Earnings Per Share: Basic and diluted earnings per share were both RMB -0.10, reflecting a significant decline of 10,100% compared to RMB 0.00 in the previous year [3]. - Return on Equity: The weighted average return on equity was -3.50%, a decrease of 3.54 percentage points [3]. - Research and Development Expenditure: R&D expenditure as a percentage of total operating revenue increased to 4.17% for the three months ended September 30, 2025, compared to 3.85% for the nine months ended September 30, 2024 [3]. Company Overview - JinkoSolar is recognized as one of the largest and most innovative solar module manufacturers globally, with a diverse international customer base across multiple regions [6][7]. - The company operates over 10 production facilities and has more than 20 overseas subsidiaries, enhancing its global sales network [7].