JinkoSolar (688223.SH) released its semi-annual report for 2024, and the company achieved revenue of 47.251 billion yuan; net income attributable to shareholders of listed companies was 1.2 billion yuan; net income attributable to shareholders of listed companies after deducting non-recurring gains and losses was 0.217 billion yuan; basic earnings per share was 0.12 yuan/share.

In the first half of 2024, intense competition in the industry put pressure on the profitability of various links in the photovoltaic integrated modules. With its leading N-type technology and comprehensive global layout, the company has demonstrated stronger operational resilience than its peers during the industry's downward cycle, achieving relatively better performance.

As of the end of the reporting period, the company's total assets were 124.528 billion yuan, and the net assets attributable to shareholders of listed companies were 33.415 billion yuan, representing a decrease of 0.83 percentage points from the end of the previous period. The proportion of the company's N-type TOPCon high-efficiency modules in module sales exceeded 80% during the reporting period. With its high cost-performance advantage, it is popular in the global market and enjoys a certain premium. In the first half of 2024, JinkoSolar sold approximately 43.8GW of PV modules worldwide, of which N-type modules accounted for approximately 35.9GW, ranking in the forefront globally. At the same time, the company actively responded to price fluctuations in the supply chain and policy changes in the international market, achieving a leading position in shipments to overseas high-premium markets.

In the third quarter of 2024, the company's module shipments are expected to be 23-25GW. Looking at the whole year, with the stabilization of the industrial chain prices in the second half of the year and the seasonal recovery of demand, the company is confident that it can achieve its full-year shipment guidance while maintaining sustainable business performance through balancing shipments and profits in different regions.

During the reporting period, the company's N-type TOPCon technology maintained a stable advantage in product performance. The company has won the "Best Performance" honor in the PVEL PV Module Reliability Scorecard for ten consecutive years. In the latest quarterly 2024Q2 ModuleTech Financial Rating Report by PVTech, the company once again received the highest "AAA" rating, and it is the only top integrated module enterprise that has maintained the "AAA" rating continuously in the industry. In addition, in the evaluation hosted by the CGC Certification Center, the company's product TigerNeoN-type JKM570N-72HL4-BDV model module, after more than three months of extreme low temperature and real load tests, still maintained efficient operation in terms of safety regulations, electrical performance, and mechanical performance, and won the "Best Bifacial Module" award. As of the date of the report's release, the company's cumulative shipments of N-type module products have exceeded 100GW, bringing excellent power generation income to customers with stable performance and winning wide trust from global customers.

During the reporting period, while maintaining the continuous leadership of N-type TOPCon technology, the company is also actively laying out medium- to long-term technology efficiency improvement solutions for the future. Among them, the company has made significant breakthroughs in the development of perovskite layered cells based on N-type TOPCon. Detected by Shanghai Institute of Microsystem and Information Technology, Chinese Academy of Sciences, its conversion efficiency has reached 33.24%, greatly surpassing the previous highest conversion efficiency of similar layered cells maintained by the company, further expanding the upgrade space for N-type TOPCon to the next-generation battery technology.