Q2 2025 and Q3 2025 JinkoSolar Holding Co Ltd Earnings Call Transcript
Key Points
- JinkoSolar Holding Co Ltd (JKS) achieved global module shipments totaling 61.9 gigawatts in the first three quarters of 2025, maintaining its position as the number one worldwide.
- The company's gross margin improved sequentially for two consecutive quarters, reaching 7.3% in the third quarter.
- Energy storage system shipments increased significantly, contributing to improved profitability in the energy storage business.
- JinkoSolar's high-power product upgrades are progressing steadily, with expectations for increased shipment proportions of high-power products next year.
- The company has been recognized as a Tier 1 energy storage provider for the seventh consecutive quarter, highlighting its strong market position.
- Despite improvements, JinkoSolar Holding Co Ltd (JKS) reported a net loss that continues to narrow sequentially.
- There is a lag in revenue recognition for energy storage products due to the installation and acceptance process.
- The company faces challenges with fluctuating raw material prices, impacting module prices and profitability.
- Operating expenses increased by 36% sequentially in the third quarter, primarily due to an increase in the impairment of long lead assets.
- The company's total revenue decreased by 10% sequentially and 34% year over year in the third quarter, mainly due to a decrease in the average selling price of solar modules.
Hello, ladies and gentlemen, and thank you for standing by for JinkoSolar Holding Co Limited's second and third quarter 2025 earnings conference call. (Operator Instructions) As a reminder, today's conference call is being recorded.
I would now like to turn the meeting over to your host for today's call, Ms. Stella Wang, JinkoSolar's Investor Relations. Please proceed, Stella.
Thank you, operator. Thank you, everyone, for joining us today for JinkoSolar's second and third quarter 2025 earnings conference call. The company's results were released earlier today and available on the company's IR website at www.jinkosolar.com as well as on Newswire services. We have also provided a supplemental presentation for today's earnings call, which can also be found on the IR website.
On the call today from JinkoSolar are Mr. Xiande, Chairman and CEO of JinkoSolar Company Limited; Mr. Gener Miao, CMO of JinkoSolar Company Limited
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