JinkoSolar Holding Co., Ltd. Earnings Recaps
Q2 2026
Aug 28, 2026
JinkoSolar’s shares dropped 12.8% after earnings as investors reacted negatively to the company’s lowered full-year module shipment guidance and sequential margin compression amid persistent industry pricing and demand pressures.
Key takeaways
- Full-year 2026 module shipment guidance cut to 60–70 GW, emphasizing balancing volume, profitability, and cash flow amid demand uncertainties.
- Sequential gross margin decline driven by cost increases from ramping up high-efficiency product lines and low-value order fulfillment.
- Net loss widened in the quarter amid supply-demand imbalances and ongoing price pressures across the photovoltaic supply chain.
- Energy storage system shipments more than doubled year-over-year in the first half of 2026, though revenue recognition remains in early ramp-up stages.
- Continued investment in next-generation TOPCon technology targeting higher efficiency and alignment with upcoming national energy efficiency standards effective January 2027.
Q3 2025
Nov 17, 2025
JinkoSolar delivered robust growth in module shipments and energy storage systems in Q2 and Q3 2025, leading to improved gross margins and narrowing net losses amidst rising demand for high-power solar solutions.
Key takeaways
- Achieved 61.9 GW in global module shipments, maintaining the top market position.
- Gross margin improved to 7.3% in Q3 2025, reflecting operational efficiency and enhanced product offerings.
- Notable 3.3 GWh of energy storage system shipments contributed to improved profitability and significant growth expected in the coming year.
- Rising solar module prices and heightened demand for high-power products position JinkoSolar favorably for increased market share and profitability.
- Strategic focus on high-margin overseas markets supports sustained growth in both solar and storage segments.