#ESG Rating #JinkoSolar #Tiger Neo

JinkoSolar's Financial Results for Q2 and Q3 2025

JinkoSolar Holding Co., Ltd. (NYSE: JKS), recognized as one of the world’s largest solar module manufacturers, announced its financial performance for the second and third quarters of 2025, revealing substantial metrics and ambitious goals amid fluctuating market conditions.

Key Business Highlights

In the third quarter of 2025, JinkoSolar achieved total module shipments of approximately 20 gigawatts (GW), with over 65% of this volume directed towards international markets. Notably, the company emerged as the first in the industry to surpass a cumulative delivery of 370 GW of solar modules worldwide, a significant milestone that emphasizes its leadership in solar technology. The remarkable Tiger Neo series continues to dominate the market, achieving over 200 GW in cumulative shipments, further solidifying its status as the best-selling module series in history.

Moreover, the mass production efficiency of JinkoSolar’s high-efficiency TOPCon cells reached between 27.2% and 27.4%, showcasing advancements that position the company favorably against peers. The introduction of high-efficiency modules featuring power outputs exceeding 640W reflects JinkoSolar’s commitment to innovation, despite their higher price point compared to conventional products.

JinkoSolar’s performance in energy storage systems (ESS) is also noteworthy, with an order visibility exceeding 90% for 2025. This proactive approach led to an upgrade in the company’s MSCI ESG rating to ‘A’, the highest among mainstream photovoltaic companies, indicating JinkoSolar's dedication to sustainability and responsible operations.

Financial Overview

Third Quarter 2025 Results:

• - Total Shipments: 21,570 MW (20,014 MW in solar modules and 1,556 MW in cells and wafers)
• - Total Revenues: RMB 16.16 billion (approximately USD 2.27 billion), representing a sequential decrease of 10.2% and a year-over-year decrease of 34.1%. This decline is attributed primarily to a reduction in solar module shipment volumes.
• - Gross Profit: RMB 1.18 billion (approximately USD 166.0 million), up 124.5% sequentially but down 69.3% year-over-year.
• - Net Loss: Confronted a net loss of RMB 749.8 million (USD 105.3 million), reflecting a commitment to overcoming operational challenges. Adjusted net loss stood at RMB 373.1 million (USD 52.4 million).

Second Quarter 2025 Results:

• - Total Shipments: 26,446 MW (24,334 MW in solar modules and 2,111 MW in cells and wafers), up 38.2% sequentially.
• - Total Revenues: RMB 17.99 billion (USD 2.51 billion), marking a 29.9% increase sequentially.
• - Gross Profit: RMB 526.5 million (USD 73.5 million), with substantial growth against previous quarters.
• - Net Loss: Reported at RMB 876.4 million (USD 122.3 million), although showing improvement from prior quarters.

Chairman and CEO Mr. Xiande Li detailed,