Jinko Solar has disclosed preliminary results for the fiscal year ending in 2023, reporting a substantial increase in net income ranging between 146-170% year over year.
For the period concluding on December 31, 2023, Jinko Solar anticipates its preliminary unaudited net income attributable to the shareholders of Jiangxi Jinko to be in the range of RMB7.25 billion to RMB7.95 billion (approximately US$1-1.1 billion).
Building on the positive financial performance in the third quarter of 2023, the Chinese solar manufacturer is poised to conclude 2023 on a positive note, targeting an annual nameplate capacity of 110GW by early 2024.
In the initial three quarters of the year, Jinko shipped 52GW of modules, experiencing robust demand for tunnel oxide passivated contact (TOPCon) modules, which constituted 57% of the total shipments until the end of Q3 2023.
During discussions with PV Tech, the company highlighted its strategic focus on the development of a fully vertically integrated plant situated in the Chinese province of Shanxi. The first phase of this facility, with a capacity of 14GW, is expected to be operational by the conclusion of the first quarter of the current year. Upon reaching full operational status, the plant aims to achieve an annual nameplate capacity of 56GW, encompassing the entire production process from ingots to modules within a single facility.
Specific dates for the release of Jinko Solar's complete 2023 fiscal year results or scheduled earnings calls with company executives have not yet been disclosed.