The solar industry is experiencing an oversupply of product due to the significant capacity expansion by PV manufacturers. There is some concern in which demand could plummet in China during H2 2016 given the expiry of some feed-in-tariffs in late June. This could potentially cut pricing and margins for solar companies in Q3. Nevertheless, JinkoSolar continuedto lead the market in the third quarter with a strong performance in total module shipments, total revenue and gross margin.
JinkoSolar Holding Co., Ltd. , a global leader in the PV industryannounced its unaudited financial results for the third quarter ending September 30, 2016. Total solar module shipments were 1,606MW, representing an increase of 41.6% from 1,134.5 MW in the third quarter of 2015.Gross margin was 22.1%, compared with20.4% in the second quarter of 2016 and 21.3% in the third quarter of 2015. Not only was this quarter’s resultspromising to the industry, but the company also increased its sales forecastfor the full year expectations. They are now expecting fiscal year shipment totals to be somewhere in the range of 6.7GW to 6.8GW. Growth in this market environment would be a rather compelling.
Mr. Kangping Chen, JinkoSolar’s Chief Executive Officer commented,“We consolidated our leading position across a number of key and emerging markets during the quarter. Demand in China remains robust as module prices stabilized. Demand is expected to pick up again in the first half of 2017 with the announcement of the next round of FiT cut, which we expect will act as a strong catalyst. Demand in the US is stable despite recent market panic which we believe is only temporary. We expect the US market will heat up again during the second half of 2017. We have always advocated a fair, transparent and market-driven environment, and the withdrawal of major solar manufacturers from the EU’s MIP agreement is boosting our outlook for the European markets. We also reinforced our presence on the ground in India by opening a new office to offer local technical and logistical support to our customers there. We expanded our emerging market presence to over 40 countries and regions, and strengthened our leading position in key markets such as Chile, Mexico and the UAE.”
“We continued to focus on developing high-efficiency products. Our mono wafer capacity using diamond-wire cutting is now operational and is scaling up rapidly to support our high-efficiency PERC lines. As leader in the industry, our team is constantly focusing on providing our customers the highest-quality, most reliable and high-efficiency products.” “We have experienced the ups and downs of the solar industry but we have never had any doubt about its great potential. We will continue to grow our business sustainably as we fulfill our commitment to green energy.”