JinkoSolar Quarterly Shipments Reach the Top, Becoming the Largest Solar Module Manufacturer
On 27th May 2016, JinkoSolar announced its financial results for the first quarter of 2016. Total module shipments in Q1 were 1600MW, an increase of 102.7% from 789 MW in the first quarter of 2015.JinkoSolar has surpassed all competitors, becoming the largest in total module shipments. The anticipated 6 to 6.5GW annual manufacturing capacity will likely make JinkoSolar the largest solar module manufacturer by volume across 2016.
JinkoSolar’s stunning performance is due to the strong sales of its high-efficiency flagship product the Eagle series, in addition to its continuous global market penetration in the USA, China, South America, UK, Turkey, Australia and APAC. JinkoSolar’s new Smart Module Series, its 1500V Module range and new Dual Glass Module have also contributed to the strong sales result.
Faced with increasing demand for high efficiency and improved module reliability, JinkoSolar’s technological and production advantages (such as the world record 20.13% efficient poly-cell production line), in addition to its global strategy and branding penetration, have powered JinkoSolar to achieve the largest market share in key PV markets.
Apart from the expansion of manufacturing capacity and increased module shipments, JinkoSolar also achieved a comparatively high margin, maintaining its role as the earnings leader in the PV sector. Based on the financial results, JinkoSolar’s total revenue is 847.8 million USD, gross margin is 21.3%. The industry as a whole has seen reduced margins due to the increasing competitiveness in the PV industry. However, JinkoSolar kept its average gross margin at 20%, continuing to be the highly profitable solar module manufacturer worldwide.