China’s JinkoSolar sees 150% surge in net profits to $1 billion

China

SHANGHAI, April 24, 2024 – Chinese solar module manufacturer JinkoSolar saw a 150% surge in its 2023 net profits to USD 1.06 billion, PV Magazine reported on Wednesday.

The company’s overall revenue totalled USD 16.38 billion, showing growth of 43.55% over 2022.

JinkoSolar cited a jump in shipments of its PV modules, which totalled 78.52 GW in 2023, up 77.1% over 2022. The shipments positioned the company in the lead among global solar module manufacturers.

It also sold 5.04 GW of other solar products during the year.

The news was revealed in the company’s 2023 financial report.

JinkoSolar reported vertically integrated production capacities for wafers, cells, and modules of 85 GW, 90 GW, and 110 GW, respectively, as of the end of 2023. The company expects these capacities to rise to 120 GW, 110 GW, and 130 GW by the end of this year.