Q3 2024 JinkoSolar Holding Co Ltd Earnings Call Transcript
Key Points
- JinkoSolar Holding Co Ltd (JKS) achieved significant improvements in gross margin, reaching 15.7%, and net income of USD 3.2 million, showing sequential growth.
- The company maintained its global leading position in module shipments, with 25.9 gigawatts shipped in the third quarter, and a strong presence in the US market.
- JinkoSolar's N-type TOPCon technology continues to advance, with mass-produced efficiency improving to approximately 26.2%, reinforcing its competitive edge.
- The company is actively investing in R&D and digital transformation, enhancing its smart production capabilities and integrating advanced technologies like IoT and AI.
- JinkoSolar's commitment to ESG management is evident, with third-party ESG audits completed for most key suppliers and participation in global climate initiatives like the New York Climate Week.
- The imbalance between supply and demand led to continuous price declines in the end market, impacting the entire industrial chain.
- Module exports decreased sequentially in September due to seasonal demand volatility in some overseas markets.
- Total revenue decreased by 23% year over year, primarily due to a decrease in the average selling price of solar modules.
- Operating expenses increased by 20% year over year, driven by higher shipping costs and impairment of long-lived assets.
- The company faces risks related to international trade policies, such as the AD/CVD decision in the US, which could impact future shipments and pricing.
Hello, ladies and gentlemen, and thank you for standing by for JinkoSolar Holding Co. Limited's third-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 third-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. Li Xiande, Chairman and CEO of JinkoSolar Holding Co., Ltd.; Mr. Gener Miao, CMO of JinkoSolar Co., Ltd.; Mr. Pan Li, CFO of
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