Q2 2024 JinkoSolar Holding Co Ltd Earnings Call Transcript
Key Points
- JinkoSolar Holding Co Ltd (JKS) achieved a 34.1% year-over-year growth in module shipments, reaching 23.8 gigawatts in the second quarter.
- The company led the industry with a total module shipment of 260 gigawatts to nearly 200 countries and regions by the end of the second quarter.
- Gross margin remained relatively stable at 11.1% despite a challenging market environment.
- JinkoSolar Holding Co Ltd (JKS) maintained a strong order book visibility for 2024, exceeding 80% by the end of the second quarter.
- The company announced a cash dividend of $1.5 per ADS and repurchased a total of 5.6 million ADS, demonstrating a commitment to returning value to shareholders.
- Adjusted net income was $52.1 million, slightly down sequentially.
- Total operating expenses increased by 24% sequentially and 18% year-over-year, partly due to a fire accident in Shanxi Province.
- Net loss attributed to JinkoSolar Holding Co Ltd (JKS) ordinary shareholders was $13.9 million in the second quarter.
- The company faced low and volatile prices in the industry chain, with prices in most segments falling below cash costs.
- Total revenue decreased by 21% year-over-year, primarily due to a decrease in the average selling price of solar modules.
Hello, ladies and gentlemen, and thank you for standing by for JinkoSolar Holding Co. Ltd. second-quarter 2024 earnings conference call. (Operator Instructions) As a reminder, today's conference call is being recorded. I would now like to turn the meeting over to your host for today's call, Ms. Stella Wang, JinkoSolar's Investor Relations. Please proceed, Stella.
Thank you, operator. Thank you, everyone, for joining us today for JinkoSolar's second-quarter 2024 earnings conference call. The company's results were released earlier today and are available on the company's IR website at www.jinkosolar.com, as well as on Newswire services. We have also provided a supplemental presentation for today's earnings call, which can also be found on the IR website.
On the call today from JinkoSolar are Mr. Xiande, Chairman and CEO of JinkoSolar Holding Company Limited; Mr. Gener Miao, CMO of JinkoSolar Company Limited; Mr. Pan Li, CFO of JinkoSolar
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