Jinko Solar with reasonable figures for the first quarter of 2019
Post date: 01/07/2019 - 14:02
The Chinese solar group Jinko Solar Holding Co. Ltd. sold modules with a total capacity of 3.04 GW (including intra-group deliveries) in the months January to March of this year; this is 16.1 percent less than in the fourth quarter of 2018 (3.62 GW), but 50.7 percent more than in the same quarter of the previous year (2.02 GW). Revenue of 5.82 billion renminbi yuan (RMB; $847 million) was 24.6 percent lower than in Q4/2018, but 27.5 percent higher than year-on-year. Jinko Solar explains the decline from the fourth quarter of 2018 to the first quarter of 2019 primarily with declining sales in China. Price declines had in turn led to the fact that the increase in revenue compared to the first quarter of 2018 was less pronounced than in shipping volumes.
However, the company was able to increase its profitability under the aforementioned conditions. Gross margin was 14.4 percent in the first quarter of 2018, 14.7 percent in the fourth quarter of 2018 and 16.6 percent in the reporting quarter. Operating income increased from RMB 125 million ($18.2 million) in the first quarter of 2018 to RMB 237.4 million ($34.6 million) in the fourth quarter of 2018 and decreased only slightly to RMB 235.7 million ($34.3 million) in the first quarter of 2019.