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Stock code: 688223 Stock abbreviation: JinkoSolar Announcement No.: 2025-010
Bond code: 118034 Bond abbreviation: Jingneng convertible bond
JinkoSolar Corporation
Regarding the Voluntary Disclosure of Indirect Controlling Shareholders for the fourth quarter of 2024 and 2024
Annual results and first quarter 2025 and 2025 shipments
Forecast announcements
The board of directors and all directors of the company guarantee that there are no false records, misleading statements or material omissions in the content of this announcement, and assume legal responsibility for the authenticity, accuracy and completeness of its content in accordance with the law.
Important Contents and Risk Warning:
JinkoSolar Holding Co., Ltd. (hereinafter referred to as "JinkoSolar.")
Holdings", stock code: JKS) is the controlling shareholder of JinkoSolar Investment Limited (hereinafter referred to as "JinkoSolar Investment"), the controlling shareholder of JinkoSolar Co., Ltd. (hereinafter referred to as "JinkoSolar Investment"), a company listed on the New York Stock Exchange in the United States. JinkoSolar Holdings
On March 26, 2025, Beijing time, the company disclosed its business results for the fourth quarter of 2024 and the full year of 2024 in the United States
and shipment forecasts for the first quarter of 2025 and 2025. As of the disclosure date of this announcement, JinkoSolar indirectly held 58.59% of the company's equity.
JinkoSolar Holdings' financial and operational data for the fourth quarter of 2024 and full year 2024 in this announcement
It is prepared by JinkoSolar in accordance with the U.S. Accounting Standards, and due to different accounting standards used, foreign exchange conversion, etc., there are certain differences between the data in the company's annual report and the company's annual report, which is for investors' reference only. The data cannot be directly compared with the company's operating performance data. As a holding company, JinkoSolar is the main production and operation entity of JinkoSolar, with the company's operating revenue accounting for more than 99% of JinkoSolar's operating revenue, except for a small number of overseas power plant development and operation businesses held by its wholly-owned subsidiaries.
JinkoSolar's operating data for the fourth quarter of 2024 and full year 2024 are unaudited and final
The data is based on the audited annual report data disclosed by JinkoSolar Holdings.
JinkoSolar expects module shipments to be between 16 GW and 18 GW in the first quarter of 2025.
For the full year of 2025, module shipments are expected to be between 85 GW and 100 GW. The above forecast data is for JinkoSolar
Based on the current forecast of market conditions, production capacity, orders and global economic environment, Yuan Holdings may be affected by changes in customer demand and sales schedules, etc., and there are uncertainties, investors are advised to pay attention to investment risks.
In accordance with the Securities Law of the People's Republic of China (hereinafter referred to as the "Securities Law"), the Administrative Measures for Information Disclosure of Listed Companies, the Rules for the Listing of Stocks on the Science and Technology Innovation Board of the Shanghai Stock Exchange (hereinafter referred to as the "Listing Rules") and other relevant provisions, and in order to allow investors to better understand the company's operating conditions, the company will disclose the operating performance in the annual periodic report according to the actual situation for investors' careful reference.
JinkoSolar Holdings was listed on the New York Stock Exchange in May 2010 and is indirectly controlled by the company
Shareholder. As of the disclosure date of this announcement, it indirectly held 58.59% of the company through its wholly-owned subsidiary, JinkoSolar Investment
of equity. JinkoSolar disclosed its Q4 2024 results in the U.S. on March 26, 2025, Beijing time
and full-year 2024 results and shipment forecasts for the first quarter of 2025 and full year 2025.
In accordance with the Securities Law, the Administrative Measures for Information Disclosure of Listed Companies, the Listing Rules and other relevant regulations, as well as in order to allow investors to better understand the company's operating performance, the company will hold JinkoSolar fourth in 2024
Quarterly and full-year 2024 results and first-quarter 2025 and full-year 2025 shipment forecasts are available
The notice is as follows:
1. JinkoSolar Holdings' financial and operational fundamentals for the fourth quarter of 2024 and the full year of 2024
(1) Shipments and performance in the fourth quarter of 2024
Total shipments in the fourth quarter of 2024 reached 26,462 MW (including 25,221 MW of solar modules, 1,241
megawatt cells and wafers), up 2.1% QoQ and down 5.0% YoY.
Q4 2024 revenue of RMB20.65 billion (US$2.83 billion), down 15.7% sequentially,
This is down 37.1% year-on-year. The sequential and year-on-year declines were mainly due to a decrease in the average selling price of solar modules.
(2) Annual shipments and performance in 2024
Annual 2024 shipments reached 99,596 MW (including 92,873 MW of solar modules, 6,723 MW).
Cells and wafers), up 19.2% year-on-year.
Total revenue in 2024 reached RMB92.26 billion (US$12.64 billion), down 22.3% year-on-year. Total
The decline was mainly due to the decline in the average selling price of solar modules.
2. The basic situation of JinkoSolar Holdings' shipment forecast for the first quarter of 2025 and the full year of 2025
JinkoSolar expects module shipments to be between 16 GW and 18 GW in the first quarter of 2025.
For the full year of 2025, module shipments are expected to be between 85 GW and 100 GW.
3. Other matters and risk warnings
1. JinkoSolar Holdings' financial and operating figures for the fourth quarter of 2024 and the full year of 2024 in this announcement
According to JinkoSolar, prepared in accordance with US accounting standards, due to different accounting standards used, foreign exchange conversion and other reasons, there are certain differences between the data in the company's annual report and the company's annual report, which is for investors' reference only. The data cannot be directly compared with the company's operating performance data. As a holding company, JinkoSolar is the main production and operation entity of JinkoSolar, with the company's operating revenue accounting for more than 99% of JinkoSolar's operating revenue, except for a small number of overseas power plant development and operation businesses held by its wholly-owned subsidiaries.
2. JinkoSolar's shipment forecast for the first quarter of 2025 and the full year of 2025 is JinkoSolar
Based on the current forecast of market conditions, production capacity, orders and global economic environment, Yuan Holdings may be affected by changes in customer demand and sales schedules, and the actual implementation in the future has great uncertainty, and the final shipment volume may be different, and there may be the following risks:
(1) The risk that the customer's order situation and market demand are less than expected, including but not limited to the estimated sales order and market development are less than expected; or delivery delays, cancellations, etc., caused by force majeure factors that affect future sales revenue.
(2) The shipment forecast is appropriately prepared based on the assumptions determined by JinkoSolar Holdings, and although all factors have been taken into account as much as possible, the assumptions underlying the forecast are uncertain, and investors are advised to pay attention to investment risks.
3. In order to let investors better understand the company's operation, please pay attention to the company's regular reports.
4. For details of JinkoSolar Holdings' specific disclosure information, please refer to www.jinkosolar.com.
5. JinkoSolar Holdings' fourth quarter and 2024 annual results and first in 2025
For details of the quarterly and full-year 2025 shipment forecasts, please refer to the "JinkoSolar Holding Co., Ltd. 2024 Fourth Quarter and 2024 Annual Results Statement" disclosed on the website of the Shanghai Stock Exchange (www.sse.com.cn) on the same day, which is a Chinese translated version of the fourth quarter 2024 report and 2024 annual results report released by JinkoSolar Chinese.
The announcement is hereby made.
JinkoSolar Corporation
board of directors
March 27, 2025
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