JinkoSolar(JKS) Prnewswire·2025-04-29 11:52Core Viewpoint - JinkoSolar reported a challenging first quarter of 2025, with significant declines in revenue and profitability due to low module prices and disruptions in demand from international trade policy changes, resulting in a net loss of US1.91 billion), down 33.0% sequentially and 39.9% year-over-year [11]. - Gross loss was RMB352.9 million (US181.7 million), a significant increase from a net income of RMB609.4 million in Q1 2024 [30]. - Basic and diluted losses per ordinary share were RMB6.40 (US$0.88) [32]. Operational Highlights - Module shipments reached 17.5 GW, ranking first in the industry, with total shipments of 19,130 MW [6][35]. - The company became the first module manufacturer to deliver over 320 GW of solar modules globally [6]. - The order book visibility for 2025 is currently at 60% to 70%, with certain regions exceeding 80% [7]. Market Dynamics - New installations in China for Q1 2025 amounted to 59.7 GW, a 31% increase year-over-year, indicating resilience in domestic demand [5]. - Average monthly bidding prices for solar modules in China have started to recover, returning to more rational levels [5]. Research and Development - The N-type TOPCon-based perovskite tandem solar cell achieved a record conversion efficiency of 34.22% [6][8]. - The company expects its annual production capacity for mono wafers, solar cells, and solar modules to reach 120.0 GW, 95.0 GW, and 130.0 GW, respectively, by the end of 2025 [10][38]. Energy Storage Developments - Shipments of energy storage systems exceeded 300 MWh in Q1 2025, with expectations of around 6 GWh for the full year [9]. - Confirmed orders for energy storage systems account for 50% to 60%, with an additional 20% to 30% showing strong potential for signing [9].