JinkoSolar's Subsidiary Reports Q2 2025 Financial Results: Net Loss, Reduced Revenue, and Liquidity Concerns

JinkoSolar Holding Co Ltd's majority-owned subsidiary, Jiangxi Jinko, reported a net loss of RMB 2.91 billion for H1 2025, with total operating revenue decreasing significantly to RMB 31.83 billion from RMB 47.25 billion in 2024. The company's net cash used in operating activities increased to RMB 3.81 billion. Despite its global presence and diversified customer base, JinkoSolar faces operational difficulties and liquidity concerns.

JinkoSolar Holding Co., Ltd.'s majority-owned subsidiary, Jiangxi Jinko, has released its unaudited financial results for the first half of 2025, revealing substantial challenges. The company reported a net loss of RMB 2.91 billion, marking a significant turnaround from a profit of RMB 1.20 billion in the same period last year. Total operating revenue decreased to RMB 31.83 billion, down from RMB 47.25 billion in H1 2024, representing a 32.6% year-over-year decline [2].

The financial deterioration is evident across multiple key metrics. Operating cash flow worsened, with net cash used in operating activities increasing to RMB 3.81 billion, up from negative RMB 1.62 billion year-over-year. The weighted average return on equity turned negative at -9.43%, compared to a positive 3.43% in the same period last year. The company's basic earnings per share (EPS) fell from RMB 0.12 to -RMB 0.29 [2].

The total equity attributable to the parent company declined by nearly RMB 3 billion, representing a 9% reduction in shareholder value. Additionally, research and development expenditure as a percentage of revenue decreased to 3.69% from 5.78%, suggesting potential cost-cutting measures that might impact future innovation capacity [2].

These results reflect broader challenges facing the solar industry, including pricing pressures, overcapacity, and reduced margins. JinkoSolar, with its extensive global presence and diversified customer base, continues to face operational difficulties and liquidity concerns. The substantial decline across all key financial metrics signals serious headwinds for JinkoSolar's core operations [2].

References:
[1] https://www.prnewswire.com/news-releases/jinkosolars-subsidiary-jinko-solar-co-ltd-announces-half-year-2025-unaudited-financial-results-302539914.html
[2] https://www.stocktitan.net/news/JKS/jinko-solar-s-subsidiary-jinko-solar-co-ltd-announces-half-year-2025-9nm4ym0waqgp.html