JinkoSolar Q4 profit plunges 81% YoY as margins hit 3.6%

Amid pricing pressure, JinkoSolar posted a Q4 2024 gross profit drop of 81.7% YoY, with 3.6% margin and $2.83 billion in revenue on 26.46 GW shipments.

By Karthik Srivasthav G 29 Mar 2025 in Business Bytes

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JinkoSolar has forecasted Q1 2025 module shipments between 16.0 GW and 18.0 GW following a weaker Q4 performance. Image Credit/Source: SOLARbytes/Jinko Solar

JinkoSolar Holding Co., Ltd., a PV manufacturer headquartered in China, has released its unaudited financial results for Q4 2024. JinkoSolar has reported total shipments of 26,462 MW, including 25,221 MW of solar modules and 1,241 MW of cells and wafers. The company has stated that quarterly revenue declined to RMB20.65 billion (US$2.83 billion), down 15.7% from the previous quarter and 37.1% year-over-year. Gross profit has dropped to RMB747.4 million (US$102.4 million), reflecting an 81.7% decline compared to Q4 2023. According to JinkoSolar, gross margin has decreased to 3.6%, down from 15.7% in Q3 2024 and 12.5% in the same quarter last year. JinkoSolar has attributed the declines to ongoing pricing pressure and reduced demand. For Q1 2025, the company has forecasted module shipments between 16.0 GW and 18.0 GW amid continued market uncertainty.

#FinancialResults #JinkoSolar #Q42024Results #SolarShipments

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