JinkoSolar reports Q4 EPS (RMB7.16) vs. (RMB2.32) last year

Reports Q4 revenue RMB17.51B vs. RMB20.65B last year. CEO Xiande Li commented, “Global module shipments reached 86 GW in 2025, ranking first globally for the seventh consecutive year. The global photovoltaic industry continued to experience volatility due to structural imbalances and a shifting trade environment, which negatively impacted financials across the industrial chain. Facing persistently low module prices, the elimination of obsolete production capacity, and a still-evolving product mix, we incurred a net loss for the full year. In the fourth quarter, our gross margin decreased sequentially and our net loss expanded, impacted by factors including rising costs of raw materials such as polysilicon and silver, as well as foreign exchange rate fluctuations. However, our energy storage business maintained its rapid growth trajectory, with shipments growing significantly year-over-year, marking an important step in our ongoing transformation into an integrated energy solutions provider. We expect our ESS shipments to more than double in 2026 compared to 2025, as we penetrate into more high-value markets…we expect annual integrated production capacity to reach approximately 100 GW by the end of 2026, including 14 GW from overseas facilities. We expect module shipments to be between 13 GW and 14 GW for Q1, and between 75 GW and 85 GW for the full year 2026.”