Jinko Power(SH:601778) Zheng Quan Ri Bao Wang·2025-10-31 04:24Core Viewpoint - Jinko Power Technology Co., Ltd. (Jinko Technology) demonstrates robust growth in its Q3 2025 report, highlighting the company's long-term value resilience with significant increases in revenue and net profit [1][2]. Financial Performance - In Q3, Jinko Technology achieved operating revenue of 998 million yuan and a net profit attributable to shareholders of 233 million yuan, marking a year-on-year increase of 76.49% [1]. - For the first three quarters, the net profit attributable to shareholders reached 356 million yuan, up 61.82% year-on-year, surpassing the total net profit for the previous year [1]. Cash Flow and Operational Efficiency - The company reported a net cash flow from operating activities of 3.273 billion yuan, a remarkable increase of 454.05% compared to the same period last year, indicating enhanced cash generation capabilities [2]. - As of the end of Q3, Jinko Technology's cash and cash equivalents amounted to 5.394 billion yuan, reflecting an increase of approximately 360 million yuan from the end of the previous year, showcasing improved operational efficiency [2]. Strategic Developments - Jinko Technology is actively expanding into new business areas such as integrated solar storage, electricity sales, virtual power plants, and microgrids, leveraging its advantages in power generation and customer base to enhance service offerings and revenue potential [2]. - The company is implementing a "rolling development" light asset operation strategy, with the Antequera solar project nearing completion and expected to commence commercial operations in Q4 2025 [2]. Energy Storage Business - The energy storage sector is identified as a core strategic focus for Jinko Technology in 2025, with significant progress made since entering the market in 2022, including the establishment of multiple storage application scenarios across various provinces [3]. - In 2023, Jinko Technology added 6 GWh of new energy storage capacity, with 3 GWh of projects either operational or under construction [3]. - The successful grid connection of the 100 MW/200 MWh energy storage project in Feidong marks a significant milestone, contributing to local grid services and supporting market-driven electricity consumption [3]. - The company plans to adopt a mixed commercial model for its energy storage business, aiming for rapid scaling while balancing ownership and transfer strategies, positioning energy storage as a new profit growth point [3].