JinkoSolar’s revenue rises by 11.5 percent in fourth quarter of 2013

JinkoSolar’s revenue for the fourth quarter of 2013 was RMB2.19 billion (US$361.4 million, an increase of 11.5 percent from the third quarter of 2013 and 87.5 percent from the fourth quarter of 2012.

Total solar shipment during the fourth quarter of 2013 was 586.3 MW, an increase of 13 percent from 518.9 MW in the third quarter of 2013, and 94.3 percent from 301.9 MW in the fourth quarter of 2012.

Total revenues were RMB2.19 billion (US$361.4 million), representing an increase of 11.5 percent from the third quarter of 2013 and 87.5 percent from the fourth quarter of 2012, JinkoSolar said.

Kangping Chen, JinkoSolar  Chief Executive Officer

As of December 31, 2013, the Company had connected approximately 213 MW worth of solar PV projects to the grid.

The company generated RMB29.8 million (US$4.9 million) as electricity revenues from solar projects during the quarter, an increase of 41.2  percent from RMB 21.1 million in the third quarter of 2013.

Net income attributable to JinkoSolar‘s ordinary shareholders was RMB164.3 million (US$27.1 million), compared with net income attributable to JinkoSolar’s ordinary shareholders of RMB103.5 million in the third quarter of 2013 and net loss attributable to JinkoSolar ‘s ordinary shareholders of RMB761.1 million in the fourth quarter of 2012.

Total solar product shipments for the full year 2013 reached a record high of 1,933.1 MW, consisting of 1,765.1 MW of solar modules, 54.8 MW of silicon wafers and 113.2 MW of solar cells, an increase of 62.7 percent from 1,188.3 MW for the full year 2012.

Total revenues were RMB7.08 billion (US$1.17 billion) for the full year 2013, an increase of 47.6 percent from RMB4.79 billion for the full year 2012.

Electricity revenues generated from solar projects were RMB76.7 million (US$12.7 million), representing a significant increase from RMB1.6 million in 2012.

Net income attributable to JinkoSolar’s ordinary shareholders was RMB188.0 million (US$31.1 million) for the full year 2013, compared with a net loss of RMB1.54 billion for the full year 2012.

Kangping Chen, JinkoSolar’s chief executive officer, said, “We closed out 2013 on a stronger footing by further cutting costs and improving gross margins for the fourth quarter to an industry-leading 24.7 percent. With total product shipments for the year reaching an all-time high of approximately 2 GW and a new revenue stream from our rapidly expanding downstream business, we have only increased our ambitions.”

During the quarter, the company connected a total of 108 MW worth of solar PV projects to the grid through five solar PV projects in China’s Xinjiang Uyghur Autonomous Region and Gansu Province. With 213 MW worth of solar PV projects connected to the grid as of December 31, 2013, the company has already completed its 2013 target and is preparing for the more than 400 MW worth of projects we have earmarked for 2014.

JinkoSolar currently has a total pipeline of more than 700 MW in utility scale and more than 400 MW in distributed systems.

editor@greentechlead.com