Jinkosolar increases net income significantly
Shanghai - Jinkosolar Holding Co., Ltd. announced its unaudited financial results for the second quarter ended June 30, 2014.
Total revenues were RMB2.4 billion (US$392.1 million), representing an increase of 20.8 percent from the first quarter of 2014 and an increase of 37.8 percent from the second quarter of 2013. Gross margin was 22.6 percent, compared with 24.0 percent in the first quarter of 2014 and 17.7 percent in the second quarter of 2013. Income from operations was RMB251.6 million (US$40.6 million), compared with income from operations of RMB203.5 million in the first quarter of 2014 and income from operations of RMB155.8 million in the second quarter of 2013. Net income attributable to Jinkosolar Holding Co., Ltd.'s ordinary shareholders was RMB138.2 million (US$22.3 million), compared with net income attributable to Jinkosolar Holding Co., Ltd.'s ordinary shareholders of RMB9.5 million in the first quarter of 2014 and net income attributable to Jinkosolar Holding Co., Ltd.'s ordinary shareholders of RMB49.0 million in the second quarter of 2013.
"I am pleased to report our fifth consecutive quarter of profitability, as we confidently look towards the second half of the year," commented Mr. Kangping Chen, Jinkosolar's Chief Executive Officer. "We gained considerable momentum during the quarter. Total revenues increased 20.8% sequentially and 37.8% year-over-year. We expanded our geographic reach, secured financial support from globally-respected financial institutions for our downstream business and solidified our position in important emerging markets where we have made strategic investments such as South Africa and Latin America."
For the third quarter of 2014, the Company estimates total solar module shipments to be in the range of 800 MW to 850 MW, which includes 650MW to 680MW module shipments to third parties and 150 MW to 170 MW for its own downstream projects.
For the full year 2014, the Company estimates total solar module shipments to be in the range of 2.9 GW and 3.2 GW, which includes 2.3GW to 2.5GW module shipments to third parties, and 600 MW to 650 MW for its own downstream projects. Full year project development scale is expected to be above 600 MW.
Source: IWR Online, 19 Aug 2014
