L R AS Published on Saturday 18 September 2021 - n° 374 - Categories:company results
JinkoSolar in Q2 2021: stable sales
Quarterly shipments were 5.2GW (4MW solar panels, 1.2GW cells and wafers), total shipments down 3% on the previous quarter, and up 16% on the comparable quarter in 2020.
Total sales were RMB 7.93 billion ($1.23 billion),
The gross profit was RMB1.36 billion (US$210.5 million), up 0.1% quarter-on-quarter and down 10.2% year-on-year.
Gross profit was RMB1.36 billion (US$210.5 million), up 0.1% quarter-on-quarter and down 10.2% year-on-year.
Gross margin remained stable at 17.1%, compared to the first quarter of 2021 and was 17.9% in the second quarter of 2020.
Net profit was RMB66.2 million (US$10.3 million), down 79% on the 2020 quarter. Mainly due to the impairment of convertible senior notes.
Non-GAAP net profit was RMB274.7 million ($42.5 million), up 457% quarter-on-quarter and down 27% year-on-year.
As supply chain prices remain high but relatively stable, the company believes that price increases will be generally accepted in the second half of the year. Demand for panels is gradually picking up. Panel production volume increased remarkably month-on-month in the third quarter.
The company invested with Tongwei in a 45,000 tonne production project in Mongolia. It signed a 70,000 tonne silicon purchase agreement with Wacker Chemie and started construction of a wafer production plant outside China
7 GW of new large cell capacity came on stream in Q2
The proportion of large cell shipments will reach 50% in the second half of the year. Sales to distributed installations are growing rapidly
The company expects the second half of 2021 to be a great time for solar installations. Jinko Solar expects to grow faster than the industry average
https://www.energytrend.com/news/20210916-23548.html
EnergyTrend of 16 September 2021
