Summary by Moomoo AI
JinkoSolar achieved record module shipments of 23.8 GW in Q2 2024, up 34.1% YoY, maintaining its industry-leading position. Total revenues were RMB24.05 billion ($3.31 billion), down 21.6% YoY, while gross margin decreased to 11.1% from 15.6% in Q2 2023. The company reported a net loss of RMB100.7 million ($13.9 million), compared to a net income of RMB1.31 billion in Q2 2023.The company reached a milestone of 260 GW in cumulative module shipments across nearly 200 countries. Its N-type TOPCon technology achieved new efficiency records, with mass production efficiency exceeding 26.1% and lab efficiency reaching 33.24% for perovskite tandem cells. The company maintains its 2024 module shipment guidance of 100-110 GW.JinkoSolar continues to expand globally, recently forming a joint venture in Saudi Arabia for 10 GW of cell and module production. The company has completed share repurchases of 5.59 million ADSs worth $134.5 million, with $65.5 million remaining under the program. For Q3 2024, module shipments are expected to be 23-25 GW.
