JinkoSolar(US:JKS)2021-12-02 17:06Q3 2021 Financial Performance - Total shipments were 4.993 GW, a decrease of 4.0% QoQ and 2.4% YoY[8] - Total revenue reached US$1.33 billion, an increase of 8.1% QoQ but a decrease of 2.3% YoY[8] - Gross profit was US$201.1 million, down 4.6% QoQ and 13.3% YoY[8] - Gross margin stood at 15.1%, compared to 17.1% in Q2 2021 and 17.0% in Q3 2020[8] - Non-GAAP net income was US$2.5 million, a significant decrease of 94.2% QoQ and 95.1% YoY[8] Business Highlights and Strategies - JinkoSolar achieved a new world record with a 25.4% conversion efficiency for its high-efficiency N-Type Monocrystalline Silicon Solar Cell[10, 19] - Over 7 GW of new cell capacity reached full production in Q3 2021, leading to a cell production cost reduction of more than 10% compared to Q2 2021[12, 18] - Module shipments in the Chinese market doubled in Q3 compared to Q2, indicating strong domestic demand[12, 17, 24] - Shipments of Tiger Pro products accounted for approximately 50% of module shipments in Q3 2021, compared to less than 20% in the first half of 2021, with expectations to exceed 70% in Q4 2021[14, 17]