JinkoSolar (JKS) Reports Second And Third Quarter 2025 Financial Earnings Results

JinkoSolar Holding Co., Ltd. (JKS) today announced its financial results for the most recent quarter. The company reported a quarterly earnings per share (EPS) of -$14.32, slightly beating analysts’ expectations of -$14.34. However, JinkoSolar’s revenue fell significantly short of estimates, coming in at $124.97 million compared to the anticipated $19.37 billion, marking a substantial miss.

Key Highlights:

• JinkoSolar shipped approximately 20 GW of solar modules in Q3 2025, with over 65% going to overseas markets.
• The company became the first module manufacturer to deliver a total of 370 GW of solar modules, with the Tiger Neo series surpassing 200 GW in cumulative shipments.
• Mass-produced cell efficiency for high-efficiency TOPCon products reached 27.2% to 27.4%.
• The order book visibility for energy storage systems (ESS) in 2025 exceeds 90%.
• JinkoSolar’s MSCI ESG rating was upgraded to “A”, the highest among mainstream PV companies.

In the third quarter of 2025, JinkoSolar reported total revenues of RMB 16.16 billion (US$2.27 billion), reflecting a decrease of 10.2% sequentially and 34.1% year-over-year. Despite a net loss of RMB 749.8 million (US$105.3 million), the company noted a significant improvement in gross profit margin, which rose to 7.3% from 2.9% in the previous quarter. Chairman and CEO Mr. Xiande Li highlighted the company’s strong performance in global module shipments, which totaled 61.9 GW in the first three quarters of 2025, maintaining its position as the world’s leading module manufacturer. He emphasized the company’s focus on high-efficiency products and energy storage systems as key growth drivers moving forward.

Looking ahead, JinkoSolar expects total shipments for the full year 2025 to be between 85 GW and 100 GW, with ESS shipments projected at approximately 6 GWh. The company is also ramping up its production capacity for solar products, aiming for 120 GW for mono wafers, 95 GW for solar cells, and 130 GW for solar modules by the end of 2025. Mr. Li expressed optimism about the energy storage business becoming a significant growth engine, stating, “We expect our energy storage business to become our second growth engine and contribute to our profit in 2026.”

JinkoSolar Holding Co., Ltd. (JKS) has experienced a rollercoaster ride in its stock price, with a notable decline of 4.11% over the past week, contrasting sharply with a robust 14.33% increase in the last month. Over a three-month span, the stock has surged by 24.49%, and impressively, it has gained 47.93% over the last six months, reflecting a strong recovery trajectory. However, despite these positive price movements, the company’s fundamental metrics tell a more sobering story. With a negative price-to-earnings ratio of -0.16 and a two-year compound annual growth rate (CAGR) for earnings per share (EPS) at a staggering -30.42%, JKS is grappling with significant profitability challenges. The net profit margin stands at -3.04%, indicating ongoing struggles to convert revenue into profit. While the revenue CAGR of 12.16% suggests some growth potential, the return on invested capital is also negative at -3.64%, raising concerns about the efficiency of capital utilization. Investors may need to weigh these fundamental issues against the stock’s recent price performance as they consider the future prospects of JinkoSolar.

JinkoSolar Holding Co., Ltd., together with its subsidiaries, engages in the design, development, production, and marketing of photovoltaic products. The company offers solar modules, silicon wafers, solar cells, recovered silicon materials, and silicon ingots. It also provides solar system integration services; and develops commercial solar power projects. The company sells its products to distributors, project developers, system integrators, and manufacturers of solar power products under the JinkoSolar brand. As of March 31, 2022, it had an integrated annual capacity of 40 gigawatts (GW) for mono wafers; 40.0 GW for solar cells; and 50.0 GW for solar modules. The company has operations in the People’s Republic of China, the United States, Mexico, Australia, Japan, United Arab Emirates, Turkey, Jordan, Vietnam, Egypt, Spain, and Germany. JinkoSolar Holding Co., Ltd. was founded in 2006 and is based in Shangrao, the People’s Republic of China.