JKS Latest Report

Performance in the Current Financial Report

Jinko Solar's total operating revenue for the period ending December 31, 2024 was US$20.651 billion, a 37.06% decrease from US$32.830 billion in 2023. This significant decline may reflect challenges in the company's market demand, sales strategy, or production capacity.

Key Data in the Financial Report

1. Decline in Operating Revenue: The operating revenue in 2024 was US$20.651 billion, a decrease of US$12.179 billion from US$32.830 billion in 2023, a decrease of 37.06%.

2. Demand Issues: The decline in product demand for Jinko Solar may be due to the global economic slowdown or increased competition, affecting sales.

3. Capacity and Price Competition: Production bottlenecks in the company may lead to an inability to meet market demand, while intense price competition in the photovoltaic industry may force the company to lower product prices.

4. Policy and Industry Environment: Changes in government policies, particularly in renewable energy subsidies, may affect sales, while the overall performance of the photovoltaic industry may also impact the company's performance.

Peer Comparison

1. Industry-wide Analysis: The photovoltaic industry has experienced rapid growth in recent years but also faces intense competition and price pressure. Fluctuations in overall market demand and changes in policies in various countries can affect the industry's revenue levels.

2. Peer Evaluation Analysis: Jinko Solar's operating revenue decline is significant, reflecting its competitive disadvantage. Compared to other companies in the industry, Jinko Solar's performance decline is more pronounced, indicating weaknesses in innovation, cost control, or market expansion.

Summary

Jinko Solar's operating revenue in 2024 has declined significantly, affected by market demand, production capacity issues, price competition, and policy changes. The company's competitive position is challenged, while peer companies perform relatively stably, indicating the need for Jinko Solar to improve its market strategy and production efficiency.

Opportunities

1. Product Innovation Potential: Jinko Solar launched several new products in 2024, especially components equipped with HOT3.0 technology, which may enhance market competitiveness.

2. Technology Advancement: The company's R&D efficiency in N-type TOPCon perovskite batteries has been improved, potentially strengthening its technological advantage and attracting more customers.

3. Market Recovery Opportunities: If the photovoltaic market demand recovers, especially with strengthened policy support, Jinko Solar has the opportunity to regain revenue growth.

Risks

1. Policy Risk: A decrease in the export tax rebate rate for photovoltaic products may burden Jinko Solar's finances and affect its profitability.

2. Intensified Competition: Continuous innovation and cost control by competitors in the industry may put Jinko Solar at a disadvantage.

3. Economic Environment Uncertainty: A global economic slowdown may continue to affect the demand for photovoltaic products, further compressing the company's operating revenue.