JinkoSolar Holding Co., the third largest supplier of solar PV panels globally, saw shipments and profit surge in the fourth quarter and full-year 2015.
The Silicon Module Super League member reported its fourth quarter 2015 and full-year 2015 financial earnings this week, and shipments and total revenue were up on previous quarters and the company’s own guidance.
Total solar module shipments for the fourth quarter reached 1,709.9 MW, including 92.7 MW used in the company’s own downstream operations. The fourth quarter was up substantially, 50.7%, over the third quarter, and up 58.6% over the same quarter a year earlier. This helped the company reach total revenue of RMB 6.07 billion, or around $937.7 million USD, representing another increase over the third quarter, 49.9%, and a whopping 104.4% increase over the fourth quarter a year earlier.
“I am pleased to report a strong finish to the year with record high total module shipments and revenue,” said Mr. Kangping Chen, JinkoSolar’s Chief Executive Officer.
The fourth quarter helped bring the full-year 2015 to a similarly strong close, with total module shipments for the whole of 2015 reaching 4,511.6 MW, including 304 MW to downstream projects. This represented an impressive 53.3% increase over the full-year figures from 2014. Total revenues for the year totaled RMB 16.08 billion, or around $2.48 billion USD, an increase of 61.1% over the full-year 2014.
JinkoSolar’s own downstream business has done relatively well, generating a total of 154.4 GWh of electricity during the fourth quarter, though this was down somewhat on third quarter figures due to seasonality and project curtailment in China’s western regions.
The company is expecting much from 2016, with first quarter guidance already set to see solar module shipments in the range of between 1.3 GW to 1.4 GW. For the full year 2016, JinkoSolar is banking on another big year to exceed 2015’s figures, with shipments expected to be in the range of 6 GW and 6.5 GW, an increase of between 33% and 44%.
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