The division of the solar company JinkoSolar has published a preliminary report
Solar panel manufacturer JinkoSolar Holding Co. Ltd. (JKS) reported preliminary results of its subsidiary Jiangxi Jinko for the three months ended March 31, 2022. This data is a signal for the future report of JinkoSolar itself, and it looks positive.
Jiangxi Jinko is the main subsidiary operating company of JinkoSolar. As of the end of March this year, JinkoSolar owned almost 59% of its shares. Jiangxi Jinko reported preliminary unaudited quarter results. In the past quarter, the company estimates net profit between CN¥380—CN¥420 million, which means an increase of 57-74% year-on-year.
JinkoSolar is one of the world’s largest manufacturers in solar modules and supplies solar panels for large power plants. So, in early April, the company sent 500 thousand two-sided modules with a total capacity of 204 MW for a solar power plant in Greece. expect demand for green energy to increase in the next two years, as several European countries intend to reduce dependence on fossil fuels.
JinkoSolar may become one of the principal beneficiaries of this trend. JinkoSolar is a vertical company that can produce over 101 GW of solar modules per year, including the most efficient single-crystal ones. The company is working to increase production volumes.
In March 2022, JinkoSolar announced the construction of new lines for the production of monocrystalline silicon in an amount sufficient for 30 GW of solar panels. The new production will reach a capacity of 10 GW by 2024. At the auction on April 25, JKS stock was worth $52.18. For the last 12 months, the growth was 30.6%.
