Jinko Solar’s 2018 Results suffers from lower ASP

Chinese PV group Jinko Solar Holding Co. Ltd. sold solar modules with a total capacity of 3.62 GW in the fourth quarter of 2018 and achieved a sales volume of 11.4 GW for the full year. This corresponds to an increase of 16.0 percent compared to 9.8 GW in the previous year. Nevertheless, total revenue of RMB25.04 billion ($3.73 billion) were 5.4 percent lower than in 2017 (RMB26.47).
CEO Kangping Chen cited lower average selling prices (ASP) as the main reason for the decline in revenue. However, the company is optimistic that it will be able to maintain its world market leadership in 2019: With the clear recovery in demand, Jinko Solar expects »module shipments to grow by approximately 30%«. After the announcement of the results on Friday, the company’s share price fell sharply from around $19.60 to $17.14 at the close of trading. However, this still corresponds to an increase in value of a good 73 percent over the level at the beginning of the year.

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