Jinko Solar (688223) announced its third quarter report for 2024, achieving a revenue of 71.77 billion yuan in the first three quarters of the year, a year-on-year decrease of 15.7%; The net profit attributable to the parent company was 1.21 billion yuan, a year-on-year decrease of 80.9%; Deducting non attributable net profit of 480 million yuan, a year-on-year decrease of 92.1%; The net operating cash flow was -360 million yuan, a year-on-year decrease of 103.3%; EPS (fully diluted) is 0.1214 yuan.
In the third quarter, the company's revenue was 24.52 billion yuan, a year-on-year decrease of 22.1%; The net profit attributable to the parent company was 14.87 million yuan, a year-on-year decrease of 99.4%; Deducting non attributable net profit of 259 million yuan, a year-on-year decrease of 89.7%; EPS is 0.0015 yuan.
As of the end of the third quarter, the company's total assets were 126.2 billion yuan, a decrease of 4.5% from the end of the previous year; The net assets attributable to the parent company were 33.29 billion yuan, a decrease of 3.1% from the end of the previous year.
The company is mainly engaged in the research and development, production, and sales of photovoltaic products, with a total shipment volume of 73.13GW in the first three quarters of 2024, of which N-type modules account for about 85%. The company is actively promoting technological innovation and global layout to address industry challenges and enhance competitiveness. Looking ahead, the company plans to develop a production capacity of 10GW of high-efficiency N-type battery modules in Saudi Arabia, and expects the annual shipment volume to reach 90-100GW.