JinkoSolar Holding Co., Ltd. Q3 2026 Earnings Recap

Jinko Holdings’ shares rose 14.3% after the company reported a sharp sequential improvement in gross margin and narrowed its adjusted net loss to $1.2 million. The quarter also showed higher-value product mix and a first quarterly operating profit in energy storage, though the company remains loss-making on a GAAP basis.

Key Takeaways

• Gross margin was 12.3%, up approximately 8 percentage points sequentially and 5 points year over year.
• Net loss narrowed to $25.4 million; adjusted net loss was $1.2 million.
• Module shipments totaled 15 GW, with overseas markets accounting for around 70%. Tiger Neo 3 shipments exceeded 5 GW and earned an approximately $0.01-per-watt premium over conventional modules.
• Energy storage shipments recognized as revenue were approximately 1.75 GWh, matching all of last year’s recognized volume; the business generated positive quarterly operating profit for the first time.
• Management expects fourth-quarter module shipments of 16–18 GW and full-year 2026 energy storage system shipments of approximately 10 GWh.