On the evening of April 22nd, photovoltaic leader Jingke Energy released its annual report for 2023. In the past year, Jingke Energy's operating performance has significantly increased, with a total annual revenue of 118.682 billion yuan, a year-on-year increase of 43.55%, surpassing the 100 billion yuan mark for the first time since its listing; The net profit attributable to the parent company was 7.44 billion yuan, a year-on-year increase of 153.20%; The weighted average return on equity was 24.19%, a year-on-year increase of 12.03 percentage points. The company shipped 78.52GW of photovoltaic modules, and InfoLink Consulting ranked first in the industry.
Jingke Energy stated that it will maintain a cautious pace of expansion, prioritize the landing of advantageous production capacity such as Shanxi's large base, accelerate the elimination of outdated production capacity, and strive to achieve an average mass production efficiency of N-type batteries to 26.5% by the end of 2024. The cost of N-type integration will continue to demonstrate advantages compared to peers; Strive to achieve the annual shipment target of 100GW-110GW, with N-type shipments accounting for nearly 90%, consolidating and enhancing the company's market leading position.
According to Wind data, as of the close on April 22, Jingke Energy fell 1.31% to 7.53 yuan, with a total market value of 75.3 billion yuan.
N-type shipments increased by more than three times year-on-year
Integrated production capacity matching rate exceeds 85%
2023 is a year of accelerated differentiation in the photovoltaic industry. In the context of the coexistence of industry risks and opportunities, Jingke Energy's leading advantage in N-type TOPCon technology and products is the main reason for its high growth in revenue, profit, and shipment volume. As one of the earliest manufacturers to lay out N-type TOPCon, we have been leading the way in the N-type track, from research and development innovation, product iteration and polishing, to production capacity layout and implementation. During the reporting period, the company shipped 48.41GW of N-type products, accounting for approximately 62%, a year-on-year increase of 352%, and a market share of 40% in the same category, leading the industry. In terms of product efficiency, steady progress has been made, with the highest efficiency of the N-type TOPCon battery laboratory reaching 26.89%. The power of the N-type component is about 30W higher than that of the same version of the P-type product.
The company continues to build and improve an integrated production network. As of the end of 2023, the vertical integrated production capacity in the three core sectors of silicon wafers, batteries, and components reached 85GW, 90GW, and 110GW respectively, with an integrated production capacity matching rate of over 85%, continuing to maintain a leading level in the industry. The company has successfully put into operation the first phase of the 56GW annual vertical integrated production base project in Shanxi, which is also the largest N-type integrated production base in the industry.
Maintain a cautious pace of expanding production
Strive to increase the proportion of N-type shipments to 90%
At the same time, Jingke Energy balances its global market layout and continues to promote its global market strategy. On the sales side, the product has covered more than 190 countries and regions worldwide, with over 3000 strategic customers and established over 120 global marketing branches. The number of global service centers has reached 35, and the market share in various emerging markets around the world continues to increase. At the same time, in response to external changes such as policies, Jingke Energy actively improves its global supply layout and further expands its global integrated supply chain, including Southeast Asian factories. As of the end of 2023, it has the industry's largest overseas integrated production capacity of over 12GW of silicon wafers, batteries, and components.
Jingke Energy stated that it will maintain a cautious pace of expansion, prioritize the landing of advantageous production capacity such as Shanxi's large base, accelerate the elimination of outdated production capacity, and by the end of 2024, it is expected that the advanced production capacity of silicon wafers, batteries, and components will reach 120GW, 110GW, and 130GW respectively, with N-type production capacity exceeding 100GW.
At the same time, the company stated that it will strive to achieve the goal of increasing the average production efficiency of N-type batteries to 26.5% by the end of 2024, and the integrated cost of N-type batteries will continue to demonstrate advantages compared to peers; Improve the marketing network and market response mechanism, strive to achieve the annual shipment target of 100-110GW with a clear product portfolio, customer planning, and marketing strategy, with N-type shipments accounting for nearly 90%, consolidating and enhancing the company's leading position in the market; Continuously expanding the application scenarios of "photovoltaic+", innovating and launching system solutions suitable for various scenarios, strengthening in-depth layout in energy storage, BIPV and other fields, forming a batch of iconic application projects, and actively promoting and leading the high-quality development of the industry.