JinkoSolar(JKS) Prnewswire·2025-01-17 13:12Core Viewpoint - JinkoSolar's majority-owned subsidiary, Jiangxi Jinko, reported significant declines in preliminary unaudited financial results for the year ended December 31, 2024, indicating a challenging financial environment for the company [1][2]. Financial Performance - Preliminary unaudited net income attributable to shareholders of Jiangxi Jinko is estimated to be between RMB80 million to RMB120 million, representing a decrease of 98.39% to 98.92% compared to the previous year, which was RMB7,320.48 million to RMB7,360.48 million [2]. - Preliminary unaudited net loss attributable to shareholders of Jiangxi Jinko, excluding extraordinary gains and losses, is estimated to be in the range of RMB750 million to RMB1,050 million, a decrease of 110.86% to 115.21% from the previous year's loss of RMB7,654.04 million to RMB7,954.04 million [2]. Accounting and Reporting Differences - The preliminary unaudited financial results for Jiangxi Jinko differ from JinkoSolar's consolidated financial results due to differences in consolidation scope and accounting standards, with Jiangxi Jinko's results prepared in accordance with PRC GAAP and the consolidated results prepared under U.S. GAAP [3]. Company Ownership - JinkoSolar currently holds approximately 58.59% equity interest in Jiangxi Jinko, indicating a majority ownership stake [4]. Company Overview - JinkoSolar is recognized as one of the largest and most innovative solar module manufacturers globally, with a diverse customer base across multiple countries [5]. - The company operates over 10 production facilities and has more than 20 overseas subsidiaries, showcasing its extensive global presence [6].