Despite Record Shipments & Revenue, JinkoSolar Shares Fluctuate

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A new tax and an increase in operating expenses hit JinkoSolar hard in the fourth quarter of 2014, despite record shipments and revenue, again proving that it’s all about market expectations.

Jinko-Solar-logoJinkoSolar announced its 2014 fourth quarter and full-year earnings early this week, and highlighted record shipments of 838.2 MW, an 18.4% increase on Q3’14, and a 43% increase on figures from a year earlier. This brought the year’s total solar module shipments up to 1,078.3 MW, which included 339.1 MW to be used in JinkoSolar’s own downstream projects.

Total revenue from third parties for the company soared to RMB2.97 billion (US$478.9 million), an increase of 16% over Q3’14, and 35% over a year earlier.

However, following the earnings report, JinkoSolar started fluctuating on the market. MarketWatch claimed that “Shares of the Chinese company fell about 3% in premarket trading” on Monday, however, JinkoSolar’s shares spent all of Monday steadily climbing to a peak of over $23, before dropping to sit at $22.81 as of time of writing. (Yahoo Finance notes that After Hours trading has seen the shares fall 0.48% to $22.70.)

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“We closed out the year on a very strong note,” said Kangping Chen, JinkoSolar’s Chief Executive Officer. “Revenue streams expanded as costs continued to improve allowing us to achieve over $100 million in net income for the year. Our rapidly growing downstream business, expanding geographic presence and industry-leading products will continue to support our growth as we work towards our goal of transforming into a one-stop energy solutions provider.”

Most importantly, however, Mr Chen is expecting 2015 to be a stellar year for a number of reasons.

“We continue to diversify our market presence as global solar demand in 2015 is expected to grow by 15-20% despite low oil prices. The price of oil, we believe, has a limited impact on solar fundamentals as it is primarily used for transportation rather than power generation in most of the key solar markets. And it is important to remember that mounting concern over the environment has been one of the driving factors behind increased solar demand in many key markets, China in particular.”

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Joshua S Hill

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