EN 
PT_BR 
A Jinko Solar released unaudited financial highlights and results for the third quarter of 2021.
The main highlight highlighted by the company is that the N-type monocrystalline silicon solar cell high-efficiency unit set a new world record, with a conversion efficiency of 25.4%.
Furthermore, more than 7 GW of new cell capacity put into production in the second quarter reached full production in the third, reducing the production cost by more than 10%.
Also according to the manufacturer, the percentage of Jinko module shipments in the Chinese market, between July and September, doubled compared to the second quarter.
The company's competitive large panel products accounted for about 50% of shipments in the third quarter, compared to less than 20% in the first quarter.
“The launch of new, more efficient cell capacity significantly reduced our cell production costs in the third quarter, partially offsetting the impact of high prices of polysilicon and other materials on production costs,” said Xiande Li, chairman of the Board of Administration and CEO of Jinko Solar.
For the executive, total shipments were impacted by the delay in recognizing sales revenue caused by logistical problems and blockages. “Logistics costs increased compared to the second quarter and module prices reached a new high in almost a year.”
However, he commented that – due to the transition to renewable energy in most regions of the world, rising electricity prices, financial support and other favorable policies – customers are more willing to accept higher panel prices.
“We expect polysilicon supply to gradually return to sufficient levels from next year and, as a result, installation demand is expected to increase significantly,” he concluded.
Read more: Jinko and Aldo close distribution agreement for 2 GW of installed power in GD
Operational and financial highlights
The company announced that quarterly shipments were 4,993 MW (4,671 MW for solar modules and 322 MW for cells and wafers). Total shipments fell 4% sequentially and 2.4% year over year.
Regarding total revenue, it was RMB 8.57 billion (US$ 1.33 billion), an increase of 8.1% sequentially and a decrease of 2.3% year-on-year.
According to the company, the sequential increase was mainly attributed to the increase in shipments of solar panels with a higher selling price compared to cells and wafers.
Gross profit was RMB 1.30 billion (US$ 201.1 million), down 4.6% sequentially and 13.3% year over year. The gross margin was 15.1%, compared to 17.1% in the second quarter of 2021 and 17% in the third quarter of 2020.
Regarding net profit, it was RMB 194.2 million (US$ 30.1 million), an increase of 193.2% sequentially and an increase of 27.3 times year over year.
