Jinko announced 18 percent increase of revenue to more than $1 billion in Q2

Jinko Solar’s total revenues in the second quarter of 2019 were CNY 6.91 billion ($1.01 billion), an increase of 18.7 percent from CNY 5.82 billion in the first quarter of 2019 and an increase of 14.1 percent from CNY 6.06 billion in the second quarter of 2018. The increase was mainly attributable to an increase in the shipment of solar modules in the second quarter of 2019, which was partially offset by a decline in the average selling price of solar modules.
Income from operations in the second quarter of 2019 was CNY 260.3 million ($37.9 million), compared with CNY 235.7 million in the first quarter of 2019 and CNY 94.6 million in the second quarter of 2018. Net income attributable to the company's ordinary shareholders was CNY 125.4 million ($18.3 million) in the second quarter of 2019, compared with CNY 40.2 million in the first quarter of 2019 and CNY 99 million in the second quarter of 2018.
Total solar module shipments in the second quarter were 3,386 MW. As of June 30, 2019, the company's in-house annual silicon wafer, solar cell and solar module production capacity was 10.5 GW (including 6.5 GW of mono wafers), 7.4 GW (including 5.8 GW of PERC cells) and 12.6 GW, respectively. Jinko Solar expects its annual silicon wafer, solar cell and solar module production capacity to reach 15.0 GW (including 11.5 GW of mono wafers), 10.5 GW (including 9.7 GW of PERC cells) and 16.0 GW, respectively, by the end of 2019.
For the third quarter of 2019, the company targets total solar module shipments to be in the range of 3.2 GW to 3.5 GW. Total revenue for the third quarter is expected to be in the range of $ 980 million to $ 1.07 billion. For the full year 2019, the Company estimates total solar module shipments to be in the range of 14.0 GW to 15.0 GW.
© PHOTON

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