Recently, companies in the photovoltaic industry successively released their first-quarter reports for the year 2024. Faced with the pressure on prices, many companies have reported losses, but there are also leading enterprises that remain confident about the future.
JinkoSolar, which secured its fifth consecutive top spot in photovoltaic module shipments in 2023, stated in its first-quarter report that it achieved a total shipment of 21,907MW from 2024 Q1. Of this, module shipments accounted for 19,993MW, while silicon wafers and solar cells totaled 1,914MW, representing a year-on-year growth of 51.19%.
The company also forecasted that its module shipments for the second quarter of 2024 would range between 24-26GW, with a sequential increase of approximately 20-30%.
JinkoSolar noted that the photovoltaic market is highly competitive, with prices across the industry chain remaining low and significant disparities in profit margins across different markets. As an integrated enterprise with a global market layout, the company's short-term profitability is somewhat constrained by the pressure from certain low-price markets, despite ensuring the long-term fulfillment of customer orders.
According to the announcement, JinkoSolar achieved operating revenue of ¥23.08 billion in the first quarter of 2024, a decrease of 0.3% year-on-year, with a net profit attributable to shareholders of ¥1.18 billion, down 29.09% year-on-year.
JinkoSolar stated that it continues to focus on cost optimization through technological upgrades, with the average efficiency of its N-type TOPCon cells reaching above 26% in production. In the next level, the company will strengthen proactive analysis, actively respond to industry competition, continuously optimize market strategies, and enhance technological and cost competitiveness.
Source: PV Insights