Q1 2026 JinkoSolar Holding Co Ltd Earnings Call Transcript
Key Points
- JinkoSolar Holding Co Ltd (JKS) achieved a record 13.7 gigawatts in total module shipments for the first quarter, ranking first in the industry.
- The company became the first module manufacturer to surpass 400 gigawatts in cumulative deliveries, with the Tiger Neo series contributing significantly.
- Gross margin improved to 8.3%, driven by stronger supply and demand dynamics, particularly from overseas markets.
- High-efficiency products accounted for nearly 25% of total shipments, commanding a premium due to their differentiated advantages.
- JinkoSolar Holding Co Ltd (JKS) expects to double its energy storage system (ESS) shipments year over year in 2026, enhancing profitability.
- Geopolitical disruptions have impacted key logistics lines, adding temporary pressure on shipping costs and delivery schedules.
- Total revenue decreased by 13% sequentially and 11.5% year over year, primarily due to lower solar module shipment volumes.
- Operating expenses accounted for 13.1% of total revenues, indicating a need for further cost optimization.
- The company reported a net loss attributed to ordinary shareholders of $67.2 million in the first quarter, though this was an improvement from previous quarters.
- Inventory turnover increased to 142 days, compared to 75 days in the previous quarter, suggesting potential inefficiencies in inventory management.
Hello, ladies and gentlemen, and thank you for standing by for JinkoSolar Holding Company Limited's first quarter 2026 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, to Ms. Stella Wong, JinkoSolar Investor Relations. Please proceed, Stella.
Thank you, operator. Thank you, everyone, for joining us today for JinkoSolar's first quarter 2026 earnings conference call. The common 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 a call today from JinkoSolar are Mr. Li Zheng, Chairman and CEO of JinkoSolar Holding Company Limited; Mr. Gener Miao, CMO of JinkoSolar Compnay Limited; Mr. Pan
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