JinkoSolar’s Q1 revenue falls as revenues, shipments develop y/y

April 28 (Renewables Now) – Chinese language photo voltaic module maker JinkoSolar Holding Co Ltd’s (NYSE:JKS) web revenue dwindled within the first quarter of 2022, regardless of a 85.9% year-over-year soar in revenues, partially affected by a rise within the materials value of photo voltaic modules.

Internet revenue attributable to extraordinary shareholders declined to CNY 28.9 million (USD 4.4m/EUR 4.2m) from CNY 239.5 million within the previous quarter and CNY 221.1 million a 12 months in the past.

Gross margin contracted to fifteen.1% from 16.1% within the fourth quarter of 2021 and 17.1% within the year-ago quarter.

Complete revenues got here in at CNY 14.76 billion, which marked a quarterly lower of 9.9%. Shipments grew 56.7% year-over-year to eight,390 MW, whereas being down 13.4% sequentially.

Within the second quarter of 2022, JinkoSolar expects to ship 8.5 GW to 9.5 GW. It saved its full 12 months 2022 cargo steering of between 35 GW and 40 GW.

The corporate now expects its annual manufacturing capacities of mono wafers, photo voltaic cells and modules to succeed in 55 GW, 55 GW and 60 GW, respectively, by the tip of 2022 because it plans to spend money on extra N-type cells manufacturing.

“We count on to extend our market share and profitability with gradual gross sales of premium N-type modules within the coming quarters,” mentioned chairman and chief government Xiande Li.

“We imagine that the influence of the pandemic on manufacturing and operations is short-term and the continual launch of polysilicon provides will support the business’s gradual restoration,” Li additionally commented.

(CNY 1 = USD 0.153/EUR 0.144)

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