Published on March 4th, 2014 | by Joshua S Hill0
JinkoSolar Post Positive Shipments, Achieving Net Profitability
March 4th, 2014 by Joshua S Hill
JinkoSolar’s Chief Executive Officer has announced Monday that the company had achieved net profitability for 2013 thanks to their “third straight quarter of profitability”.
The company reached shipments of 586.3 in the fourth quarter of 2013, an increase of 13% over the third quarter of 2013, and a whopping 94.3% over the fourth quarter of 2012.
For the full year, the company reached a record high of solar product shipments of 1,933.1 MW, an increase of 62.7% over 2012.
“Having recorded our third straight quarter of profitability, I am proud to report another strong performance as we continue to expand our manufacturing and downstream businesses,” commented Mr. Kangping Chen, JinkoSolar’s Chief Executive Officer.
“From the third quarter we delivered on our promise to achieve net profitability for the entire year. We closed out 2013 on a stronger footing by further cutting costs and improving gross margins for the fourth quarter to an industry-leading 24.7%. With total product shipments for the year reaching an all-time high of approximately 2 GW and a new revenue stream from our rapidly expanding downstream business, we have only increased our ambitions.”
Total revenue for 2013 amounted to approximately $1.17 billion, an increase of 47.6% over the year previous, and as of the end of the year, JinkoSolar had connected approximately 213 MW of solar PV projects to the grid.
JinkoSolar are also making new strides of their own towards the research and development field of the industry. As Chen noted; “During the quarter, we established a new R&D center with a team of approximately 100 talented employees.”
“This investment in our future will provide us with the tools we need to continue developing innovative products and technologies, such as our next generation high efficiency cells, super PID-free technology, and the Smart Modules we recently unveiled at the PV Expo in Japan, as well as the Eagle II modules that will begin mass production soon.”
For a full run down on the minutia of JinkoSolar’s earnings, revenue, and achievements throughout 2013, and the fourth quarter in particular, they have provided a a truckload of information in their press release available here.