Manufacturer Jinko Solar closed 2022 with a total revenue of RMB 83,53 billion (US$ 12,11 billion), 104,6% more than the previous year.
According to the company, in the fourth quarter of last year, total revenue was RMB 30,40 billion (US$ 4,41 billion), an increase of 85,5% compared to the same period in 2021. The information is contained in the company balance sheet for the fourth quarter of 2022 and the entirety of last year disclosed by the company.
According to the company, the positive results are mainly due to the increase in the shipment of solar modules. In 2022, the company shipped 46,580 MW (44,520 MW for solar modules and 2,060 MW for cells and wafers), an increase of 84,5% compared to 2021.
Another milestone for the company is that at the end of 2022 the company became the first module manufacturer in the world to deliver a total of 130 GW of solar panels.
“We closed a challenging 2022 with satisfactory results, as we achieved strong operational and financial performance in the fourth quarter. Leveraging our excellent global marketing network and supply chain management, our total shipments and total revenue increased significantly year-on-year,” said Xiande Li, Chairman and CEO of Jinko Solar.
“Throughout the year, as raw material costs continued to rise, we continued to relentlessly optimize our cost structure through technical advancements and manufacturing process improvements, which partially alleviated the pressure on profitability,” the executive added. .
Still according to Jinko's balance sheet, in December 2022 the N-type cell established a new record with maximum conversion efficiency of 26,4%, surpassing the record of 26,1% set in October 2022.
The company also highlighted that, at the end of last year, it reached N-type module shipments reached 10 GW, a goal that had been established for the entire year 2022.
“We are optimistic about the growth potential of the photovoltaic market in the medium and long term and will continue to invest in the development of N-type capacity, which is now competitive in terms of technology and cost”, concluded the Jinko CEO.
For the first quarter of 2023, the company expects its module shipments to be in the range of 11 GW to 13 GW. And for the entire year 2023, the company estimates that its module shipments will be in the range of 60 GW to 70 GW.
Furthermore, Jinko expects its annual mono wafer, solar cell and solar module production capacity to reach 75 GW, 75 GW and 90 GW, respectively, by the end of 2023.
