A world leader in making solar modules, JinkoSolar Holding Co. recently reported its preliminary financial data for the fourth quarter and the full year ending December 31, 2023. JinkoSolar’s total sales for the fourth quarter of 2023 were RMB 32.83 billion, which is about US $ 4.62 billion. This was a rise of 3.1% from the previous quarter. But gross profit went down to RMB 4.09 billion (US $ 576.2 million) because the gross margin went down, which was caused by lower module prices.
For the whole year of 2023, JinkoSolar made a total of RMB 118.68 billion ($ 16.72 billion), which is a big jump of 42.8% from the previous year. With a gross margin of 16.0%, the company’s gross profit rose to RMB 19.05 billion, which is about US $ 2.68 billion. This is because operations became more efficient.
Chairman and CEO of JinkoSolar, Mr. Xiande Li, said that the company’s success was due to its strategy focus on N-type TOPCon technology, global operations, and a combined capacity structure.
The company’s module sales increased by 76.4% year-over-year to hit 78.5GW, proving once again that it is the leader in its field thanks to its N-type technology and large global network. Notably, JinkoSolar was the first company in the world to send 210 GW of solar panels to more than 190 countries and areas.
Looking ahead, JinkoSolar declares itself confident in the desire for high-efficiency N-type products on the world market. The company thinks it will keep growing, and module sales of 100 GW to 110 GW in 2024 are expected to be a big part of that.
As part of its dedication to sustainability, JinkoSolar recently got the “Zero Carbon Factory” approval for its environmentally friendly practices and took part in the COP28 UN climate change meeting. The company also won a number of industry awards that showed how innovative and ahead of the curve it was in the solar energy field.
As the market changes, JinkoSolar stays focused on improving its technical leadership, increasing N-type capacity, and making operations as efficient as possible.