The earnings call presented both significant achievements in technological advancements and market expansion, particularly in energy storage and the Indo-Pacific region. However, these were offset by substantial financial challenges, including a notable revenue decline, negative profitability metrics, and increased debt levels. The challenges in the U.S. market further contributed to a cautious outlook.

Company Guidance

During JinkoSolar's first quarter 2025 earnings call, the company provided guidance for the upcoming quarters and the full year. They project their annual production capacity to reach 120 gigawatts for mono wafers, 95 gigawatts for solar cells, and 130 gigawatts for solar modules by the end of 2025. Additionally, the production capacity for their third-generation TOPCon modules is expected to be between 40 gigawatts to 50 gigawatts. For module shipments, JinkoSolar anticipates delivering between 20 gigawatts to 25 gigawatts in the second quarter and between 85 gigawatts to 100 gigawatts for the entire year. They also outlined a strategic focus on maintaining competitiveness through ongoing technology and product enhancements, supply chain management, and responding to market demand changes. The company is targeting a significant growth in energy storage system (ESS) shipments, forecasting around 6 gigawatt-hours for 2025, with confirmed orders accounting for 50% to 60% of this target, and potential strong interest covering an additional 20% to 30%.

Increase in Energy Storage Shipments

Shipments of Energy Storage Systems (ESS) exceeded 300 megawatt-hours in Q1 2025, with expectations of reaching 6 gigawatt-hours for the full year. The confirmed orders for energy storage systems account for 50% to 60%, with another 20% to 30% showing strong potential.

Expansion in Indo-Pacific and Middle East

Shipments to the Indo-Pacific market grew by nearly 10% year-over-year and 150% sequentially, while shipments to North Asia increased by nearly 20% year-over-year. The visibility of the order book stands at 60% to 70%, with Indo-Pacific and Middle East and Africa exceeding 80%.

Record Efficiency in Solar Cell Technology

Mass-produced cell efficiency for third-generation TOPCon products exceeded 26.6%, and laboratory efficiency for perovskite tandem solar cell based on TOPCon reached 34.22%, setting a new record.

Improvement in Cash Reserves

Cash and cash equivalents increased to US$3.77 billion by the end of Q1 2025, up from US$2.44 billion at the end of Q1 2024.

JinkoSolar (JKS) Earnings, Revenues Date & History

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JKS Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Nov 04, 2025	2025 (Q3)	-2.38 / -	0.072	―	―	―
Aug 27, 2025	2025 (Q2)	-3.26 / -1.23	0.246	-598.86% (-1.47)	―	―
Apr 29, 2025	2025 (Q1)	-0.99 / -3.58	1.179	-403.98% (-4.76)
Mar 26, 2025	2024 (Q4)	-0.42 / -1.03	1.219	-184.61% (-2.25)
Oct 30, 2024	2024 (Q3)	-0.72 / 0.07	3.384	-97.88% (-3.31)
Aug 30, 2024	2024 (Q2)	-0.15 / 0.25	3.567	-93.10% (-3.32)
Apr 29, 2024	2024 (Q1)	0.10 / 1.18	2.237	-47.27% (-1.06)
Mar 20, 2024	2023 (Q4)	2.54 / 1.22	1.996	-38.92% (-0.78)
Oct 30, 2023	2023 (Q3)	1.47 / 3.38	0.383	783.65% (+3.00)
Aug 14, 2023	2023 (Q2)	1.60 / 3.57	-0.44	910.03% (+4.01)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

JKS Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Aug 27, 2025	$23.62	$22.50	-4.74%
Apr 29, 2025	$16.60	$15.96	-3.86%
Mar 26, 2025	$19.47	$19.31	-0.82%
Oct 30, 2024	$22.73	$23.85	+4.93%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.