Jinko Solar's Q2 income soars to $331M with module boost

China's prominent solar cell and module manufacturer, Jinko Solar, witnessed a remarkable turnaround in its financial performance for Q2 2023. The company reported net income of about $331.38 million, a stark contrast to its net loss of about $47.64 million in Q2 2022. This significant increase in net profit, which saw a 73% quarter-on-quarter (QoQ) increase, is mainly attributed to the company's escalated module shipments. Shipments for the quarter reached 18,613 MW, up 77% year-over-year (YoY). In particular, module shipments alone increased by 74% year-on-year. Jinko Solar's transition to its N-type module was a highlight, with Q2 2023 shipments of 10.4 GW. This achievement made Jinko Solar the pioneer in delivering 10 GW of N-type modules in one quarter. In addition, the company's total revenue for the quarter was approximately $4.22 billion, reflecting 63% year-over-year growth. Xiande Li, Chairman and CEO of Jinko Solar, expressed satisfaction with the company's growth trajectory and highlighted their effective supply chain management and high-quality products.