On the evening of April 22, photovoltaic leader Jingke Energy released its 2023 annual report. During the reporting period, the company's operating performance significantly increased, with a total annual revenue of 118.682 billion yuan, a year-on-year increase of 43.55%, breaking 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%.
In the past year, Jingke Energy has sent a total of 83.56GW of solar photovoltaic products to the world, including 78.52GW of photovoltaic module shipments. The company's module shipments rank first in the industry in InfoLink Consulting.
Jingke Energy stated that the increase in component shipments and the increase in the proportion of N-type advanced products are the main reasons for business growth. In the main business of the company in 2023, the revenue from photovoltaic modules was 114.383 billion yuan, a year-on-year increase of 43.33%, accounting for 96.38% of the operating revenue.
During the reporting period, Jingke Energy's N-type product technology and production scale remained leading. By the end of 2023, the company had put into production more than 70GW of high-efficiency N-type batteries. In 2023, the total shipment of N-type components was 48.41GW, a year-on-year increase of 352%, accounting for about 62% of the total shipment of components.
As one of the earliest manufacturers to lay out N-type TOPCon, Jingke Energy's research and mass production of high-efficiency N-type batteries continues to break through. The highest efficiency in the development of N-type TOPCon batteries reached 26.89%, and the highest efficiency in the development of perovskite stacked batteries based on N-type TOPCon reached 32.33%. At the end of 2023, the average production efficiency of N-type batteries by Jingke Energy exceeded 25.8%, and in the first quarter of 2024, the average production efficiency exceeded 26%. The power of N-type components was about 30W higher than that of the same version of P-type products.
According to the annual report, the company plans to construct a vertical integrated base project with an annual output of 56GW in Shanxi Comprehensive Reform Zone, which is currently under smooth construction. The first phase of the project, with a capacity of 14GW, will gradually start production in March 2024. Jingke Energy stated that the company actively explores the "new quality productivity" of photovoltaics, layout and construct intelligent factories, and the entire production process is managed by machine learning, artificial intelligence equipment automatic optimization system, intelligent self maintenance system, and intelligent production real-time status monitoring system in collaboration.
During the reporting period, Jinko Energy further expanded 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. Next, we will gradually achieve shipment by balancing our global market layout and seizing opportunities in emerging markets such as the Middle East, Latin America, and Southeast Asia.
In response to the development plan for 2024, Jingke Energy will maintain a cautious pace of expansion, prioritize the landing of advantageous production capacity such as Shanxi's large base, and accelerate the elimination of outdated production capacity. 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.
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 annual shipment target of 100-110GW, with N-type shipments accounting for nearly 90%. (Wang Kaifeng)