JinkoSolar achieved strong quarterly results in Q3 2018 – proof of the strength of its business. Both revenue and operating profit increased from the previous quarter. The Company posted 2,953MW shipment, an increase of 5.7% from the second quarter of 2018 and an increase of 24.4% from the third quarter of 2017. Total revenues were RMB6.69 billion (US$974.8 million), an increase of 10.5 from the second quarter of 2018 and an increase of 4.3% from the third quarter of 2017.
Following a successful restructuring of its product line-up, JinkoSolar led expansion of the premium market, winning more than 30% market share in emerging markets. Despite concerns over a slowdown in domestic growth, increase in overseas market continued. Earnings increased QoQ, mainly due to improved factory utilization, as demand from major customers for panels remained constant. It seems that the company has established a base for achieving stable earnings going forward. It closely monitored the market condition and the supply and demand to maintain sustainable earnings in the mid- to long-term with the industry’s leading technology and quality.
In the fourth quarter, earnings are expected in increase QoQ amid strong seasonality for panels. Looking ahead to 2019, sales are expected to rebound on recovering demand from domestic market. JinkoSolar aims to increase market share by actively addressing customer demand while enhancing technological and price competitiveness. Although intensified competition and the industry’s capacity expansion may limit improvements in profits, the Company will continue to focus on profit with differentiated high-end products such as Cheetah.