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JinkoSolar Q3 Adj. Net Income Declines; Revenues Down 2.3% - Quick Facts

JinkoSolar Holding Co., Ltd. (JKS) reported third quarter non-GAAP net income of RMB 15.9 million, down 95.1% year over year. Non-GAAP earnings per ADS was RMB 0.31, compared to RMB 7.22.

Net income attributable to ordinary shareholders was RMB 194.2 million, compared to RMB 6.9 million, previous year. Loss per ADS was RMB 0.49 compared to a loss of RMB 6.20.

Total revenues were RMB 8.57 billion, down 2.3% year over year. The company noted that the year-over-year decrease was mainly attributable to a decrease in the shipment of solar modules. Quarterly shipments were 4,993 MW, down 2.4% year over year.

For the fourth quarter, the company expects total shipments to be in the range of 7.3 GW to 8.8 GW. For full year 2021, the company estimates total shipments to be in the range of 22.8 GW to 24.3 GW.

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