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JinkoSolar Announces 2015 Results; Full-Year PV Module Shipments Up 53.3%; Revenues Increased By 61.1%

Shenzhen Shine Solar Co.,Ltd | Updated: Mar 07, 2016

JinkoSolar Holding Co., Ltd. (Shanghai, China) on March 1st, 2016 announced its unaudited financial results for the fourth quarter and full year ended December 31st, 2015.

Total PV module shipments in 2015 were 4,511.6 MW, which include 304.0 MW used in the Company's downstream solar power projects, an increase of 53.3% from 2,943.6 MW for the full year 2014. Total revenues were RMB16.08 billion (USD 2.48 billion) for the full year 2015, an increase of 61.1% from RMB9.98 billion for the full year 2014.

Revenues generated from solar power projects were RMB622.1 million (USD 96.0 million), representing a 161.8% increase from RMB237.6 million in 2014.

Gross margin was 20.3% for the full year 2015, compared with 22.4% for the full year 2014.

"I am pleased to report a strong finish to the year with record high total module shipments and revenue”, comments Kangping Chen, JinkoSolar's Chief Executive Officer.

“Total module shipments reached 1,709.9 MW during the quarter which resulted in total revenues of US$937.7 million, an increase of 104.4% over the same period in 2014. This translates into module shipments for the entire year of 4,511.6 MW, and total revenues of US$2.48 billion. Global demand remains strong, especially in key solar markets, which gives us good visibility for the entire year and leaves us very confident about our future prospects."

 

Q4, 2015 revenues doubled y/y

JinkoSolar’s total solar photovoltaic (PV) module shipments in Q4, 2015 were 1,709.9 megawatts (MW), which includes 92.7 MW to be used in the Company's downstream projects. Total revenues in Q4, 2015 were RMB 6.07 billion (USD 937.7 million), representing an increase of 49.9% from the third quarter of 2015 and an increase of 104.4% from the fourth quarter of 2014.

Total PV module shipments increased 50.7% from 1,134.9 MW in the third quarter of 2015 and 58.6% from 1,078.3 MW in the fourth quarter of 2014. As of December 31st, 2015, the Company had connected 1,006.6 MW worth of solar power projects.

In Q4, 2015 JinkoSolar’s PV projects generated 154.4 GWh of solar power, a 34.0% decrease from the third quarter of 2015 due to the seasonality and the curtailment of projects in China's western regions, and an increase of 67.9% from the fourth quarter of 2014 due to the increase in number and capacity of solar power projects.

Revenues generated from solar power projects were RMB136.3 million (USD 21.0 million), representing a decrease of 33.8% from the third quarter of 2015 and an increase of 69.4% from the fourth quarter of 2014.

Q4, 2015 gross margin was 19.5%, compared with 21.3% in the third quarter of 2015 and 22.8% in the fourth quarter of 2014.

 

Full-year 2016 guidance includes total solar module shipments to be in the range of 6 GW and 6.5 GW

For the first quarter of 2016, the Company estimates total solar module shipments to be in the range of 1.3 GW to 1.4 GW, which includes 1.2 GW to 1.3 GW module shipments to third parties.

For the full year 2016, the Company estimates total solar module shipments to be in the range of 6 GW and 6.5 GW which includes 5.4 GW to 5.7 GW module shipments to third parties. Full year newly-added solar power project development scale is expected to be in the range of 600 MW to 800 MW.


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