The following is a summary of the JinkoSolar Holding Co., Ltd. (JKS) Q2 2024 Earnings Call Transcript:
Financial Performance:
JinkoSolar reported Q2 2024 module shipments of 23.8 gigawatts, leading to an industry rank of number one, with gross margin at 11.1%.
Adjusted net income was reported at $52.1 million for Q2 2024.
Total revenues were approximately $3.3 billion, up 4.4% sequentially.
Business Progress:
JinkoSolar continues its global expansion with a strategic partnership in Saudi Arabia for the production of 10 gigawatts of high-efficiency solar cells and solar modules.
They have maintained leading industry utilization rates, especially for N-type cells, with near 100% utilization.
They are optimizing their capacity structure to enhance production of advanced solar technology, expecting annual production capacities for mono wafers and solar modules to reach 195 and 130 gigawatts respectively by year-end.
Opportunities:
They expect robust demand supporting their shipment guidance of 100-110 gigawatts for 2024, buoyed by their strong brand and product competitiveness in various global markets.
Risks:
Continued price volatility and low prices in the solar industry could pressure margins and financial performance, although this is seen as a temporary situation until industry adjustments stabilize the supply-demand balance.
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