JinkoSolar Reports Q1 Revenue of $1.78B
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 4 days ago
0mins
Should l Buy JKS?
Reports Q1 revenue $1.78B vs. $1.91B last year. Xiande Li, JinkoSolar's Chairman and Chief Executive Officer, commented, "Total module shipments during the quarter were 13.7 GW, ranking first in the industry, with over 80% shipped to overseas markets. This enabled us to become the world's first module manufacturer to surpass 400 GW in cumulative deliveries. Our Tiger Neo series also cemented its industry leadership, contributing approximately 240 GW to this milestone in cumulative deliveries. Driven by improved supply-demand balance, especially in overseas markets, module prices rebounded sequentially during the quarter, helping improve our gross profit margin to 8.3% and narrow our net loss. At the same time, our energy storage systems business (ESS) maintained its strong momentum, with shipments increasing significantly year-over-year to approximately 1.42 GWh on a proof-of-delivery basis. Of these shipments, a higher contribution from high-value overseas markets supported a more optimized market mix and drove a sequential improvement in gross margin."
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Analyst Views on JKS
Wall Street analysts forecast JKS stock price to fall
4 Analyst Rating
0 Buy
2 Hold
2 Sell
Moderate Sell
Current: 23.350
Low
20.00
Averages
23.33
High
25.00
Current: 23.350
Low
20.00
Averages
23.33
High
25.00
About JKS
JinkoSolar Holding Co Ltd is a holding company principally engaged in photovoltaic (PV) industry. The Company builds a vertically integrated solar power product value chain, manufacturing from silicon wafers to solar modules. The Company’s main products comprise silicon wafers, solar cells and solar modules. The Company sells its solar modules under JinkoSolar brand. The Company is also engaged in solar power generation and solar system engineering procurement construction (EPC) services. The Company mainly operates its businesses in the domestic and overseas markets.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
JinkoSolar Under Investigation for Securities Fraud
- Financial Loss Disclosure: JinkoSolar reported a non-cash impairment charge exceeding $200 million on April 16, 2026, resulting in a GAAP loss of $214.5 million for Q4 2025, indicating a severe deterioration in financial health that could undermine investor confidence.
- Contradictory Statements: The financial results starkly contrast with positive statements made by JinkoSolar's executives during the earnings call on November 17, 2025, regarding Q3 performance, raising questions about management's integrity and potentially impacting stock performance.
- Significant Stock Drop: Following the financial disclosure, JinkoSolar's American Depositary Receipt (ADR) price fell by $2.88, or 11.89%, closing at $21.34, reflecting market pessimism regarding the company's future outlook.
- Legal Investigation Initiated: Pomerantz LLP is investigating JinkoSolar and its executives for securities fraud and other unlawful business practices, which may lead to class action lawsuits, further increasing the company's legal risks and financial burdens.
See More
JinkoSolar Reports Q1 Earnings Miss with Revenue Decline
- Earnings Miss: JinkoSolar reported a Q1 GAAP EPS of -$1.28 with revenues of RMB 12.25 billion ($1.78 billion), missing expectations by $40 million, indicating significant pressure in a competitive market.
- Declining Shipments: The company shipped approximately 13.7 GW of modules in Q1, reflecting a 30% sequential decline and an 11.5% year-over-year drop, suggesting weakened demand in global markets that could impact future market share.
- Industry Leadership: By the end of Q1, JinkoSolar became the first module manufacturer globally to deliver over 400 GW of solar modules, with the Tiger Neo series reaching approximately 240 GW, reinforcing its leading position in the industry.
- Future Outlook: The company expects Q2 2026 module shipments to range between 14.0 GW and 16.0 GW, with full-year estimates between 75.0 GW and 85.0 GW, reflecting cautious optimism about market recovery.
See More
JinkoSolar Files Annual Report for 2025
- Annual Report Filing: JinkoSolar filed its Form 20-F annual report for the fiscal year ending December 31, 2025, with the SEC on April 29, 2026, which includes audited consolidated financial statements, indicating the company's ongoing growth potential in the clean energy sector.
- Financial Transparency: The annual report is available on the company's website and the SEC's site, and the company promises to provide shareholders with free copies of the complete audited financial statements, enhancing investor confidence in its financial health.
- Global Presence: As of March 31, 2026, JinkoSolar operates over 10 production facilities and more than 20 overseas subsidiaries across countries including the U.S., Germany, and Japan, demonstrating its strong international market penetration capabilities.
- Sales Network Expansion: The company has established sales teams in various countries and regions, further solidifying its leadership position in the global clean energy market, which is expected to drive future sales growth and market share increase.
See More
JinkoSolar Reports Q1 2026 Financial Highlights
- Record Module Shipments: In Q1 2026, JinkoSolar achieved a record module shipment of 13.7 GW, ranking first in the industry with over 80% shipped to overseas markets, marking a significant milestone as the first manufacturer to exceed 400 GW in cumulative deliveries.
- Gross Margin Improvement: The gross profit for Q1 was RMB 1.02 billion, with a gross margin of 8.3%, a substantial increase from 0.3% in the previous quarter, primarily driven by a rebound in module prices, indicating the company's recovery capability in market competition.
- Strong Growth in ESS Business: The energy storage systems (ESS) shipments reached approximately 1.42 GWh in Q1 2026, showing significant year-over-year growth, particularly from high-value overseas markets, which contributed to further improvements in gross margins, reflecting the company's ongoing expansion in clean energy.
- Optimistic Future Outlook: The company projects module shipments for 2026 to reach between 75 GW and 85 GW, with high-efficiency products expected to account for over 60% of total shipments, demonstrating strong demand and ongoing technological innovation in the high-efficiency product market.
See More
JinkoSolar Under Investigation for Securities Fraud
- Financial Loss Disclosure: On April 16, 2026, JinkoSolar reported a non-cash impairment charge exceeding $200 million, resulting in a GAAP loss of $214.5 million for Q4 2025, indicating a severe deterioration in financial health that could undermine investor confidence.
- Contradictory Statements: The financial results contradict positive statements made by JinkoSolar's executives during the earnings call on November 17, 2025, suggesting potential risks related to improper disclosure and raising concerns about corporate governance among investors.
- Significant Stock Drop: Following the financial announcement, JinkoSolar's American Depositary Receipt (ADR) price fell by $2.88, or 11.89%, closing at $21.34 per ADR, reflecting a pessimistic market sentiment regarding the company's future prospects.
- Legal Investigation Initiated: Pomerantz LLP is investigating JinkoSolar and its executives to assess potential securities fraud or other unlawful business practices, which could lead to class action lawsuits and further impact the company's market reputation and shareholder value.
See More
JinkoSolar Announces Q1 2026 Earnings Release Schedule
- Earnings Release Schedule: JinkoSolar plans to release its unaudited financial results for Q1 2026 before the U.S. market opens on April 29, 2026, indicating the company's commitment to timely performance disclosure to enhance transparency.
- Conference Call Timing: Management will host an earnings conference call on April 29, 2026, at 8:30 a.m. U.S. Eastern Time, which is expected to attract investor attention and provide performance insights, further bolstering market confidence.
- Registration Process: Participants are required to register in advance to obtain dial-in numbers and access codes, ensuring a smooth conference experience and demonstrating the company's focus on investor relations.
- Replay Service: A telephone replay of the call will be available two hours after the conference concludes, until May 6, 2026, at 11:59 p.m. U.S. Eastern Time, ensuring that investors who cannot attend live can still access key information.
See More
JinkoSolar Under Investigation for Securities Fraud
- Financial Loss Disclosure: JinkoSolar reported a non-cash impairment charge exceeding $200 million on April 16, 2026, resulting in a GAAP loss of $214.5 million for Q4 2025, indicating a severe deterioration in financial health that could undermine investor confidence.
- Contradictory Statements: The financial results starkly contrast with positive statements made by JinkoSolar's executives during the earnings call on November 17, 2025, regarding Q3 performance, raising questions about management's integrity and potentially impacting stock performance.
- Significant Stock Drop: Following the financial disclosure, JinkoSolar's American Depositary Receipt (ADR) price fell by $2.88, or 11.89%, closing at $21.34, reflecting market pessimism regarding the company's future outlook.
- Legal Investigation Initiated: Pomerantz LLP is investigating JinkoSolar and its executives for securities fraud and other unlawful business practices, which may lead to class action lawsuits, further increasing the company's legal risks and financial burdens.
See More
JinkoSolar Reports Q1 Earnings Miss with Revenue Decline
- Earnings Miss: JinkoSolar reported a Q1 GAAP EPS of -$1.28 with revenues of RMB 12.25 billion ($1.78 billion), missing expectations by $40 million, indicating significant pressure in a competitive market.
- Declining Shipments: The company shipped approximately 13.7 GW of modules in Q1, reflecting a 30% sequential decline and an 11.5% year-over-year drop, suggesting weakened demand in global markets that could impact future market share.
- Industry Leadership: By the end of Q1, JinkoSolar became the first module manufacturer globally to deliver over 400 GW of solar modules, with the Tiger Neo series reaching approximately 240 GW, reinforcing its leading position in the industry.
- Future Outlook: The company expects Q2 2026 module shipments to range between 14.0 GW and 16.0 GW, with full-year estimates between 75.0 GW and 85.0 GW, reflecting cautious optimism about market recovery.
See More
JinkoSolar Files Annual Report for 2025
- Annual Report Filing: JinkoSolar filed its Form 20-F annual report for the fiscal year ending December 31, 2025, with the SEC on April 29, 2026, which includes audited consolidated financial statements, indicating the company's ongoing growth potential in the clean energy sector.
- Financial Transparency: The annual report is available on the company's website and the SEC's site, and the company promises to provide shareholders with free copies of the complete audited financial statements, enhancing investor confidence in its financial health.
- Global Presence: As of March 31, 2026, JinkoSolar operates over 10 production facilities and more than 20 overseas subsidiaries across countries including the U.S., Germany, and Japan, demonstrating its strong international market penetration capabilities.
- Sales Network Expansion: The company has established sales teams in various countries and regions, further solidifying its leadership position in the global clean energy market, which is expected to drive future sales growth and market share increase.
See More
JinkoSolar Reports Q1 2026 Financial Highlights
- Record Module Shipments: In Q1 2026, JinkoSolar achieved a record module shipment of 13.7 GW, ranking first in the industry with over 80% shipped to overseas markets, marking a significant milestone as the first manufacturer to exceed 400 GW in cumulative deliveries.
- Gross Margin Improvement: The gross profit for Q1 was RMB 1.02 billion, with a gross margin of 8.3%, a substantial increase from 0.3% in the previous quarter, primarily driven by a rebound in module prices, indicating the company's recovery capability in market competition.
- Strong Growth in ESS Business: The energy storage systems (ESS) shipments reached approximately 1.42 GWh in Q1 2026, showing significant year-over-year growth, particularly from high-value overseas markets, which contributed to further improvements in gross margins, reflecting the company's ongoing expansion in clean energy.
- Optimistic Future Outlook: The company projects module shipments for 2026 to reach between 75 GW and 85 GW, with high-efficiency products expected to account for over 60% of total shipments, demonstrating strong demand and ongoing technological innovation in the high-efficiency product market.
See More
JinkoSolar Under Investigation for Securities Fraud
- Financial Loss Disclosure: On April 16, 2026, JinkoSolar reported a non-cash impairment charge exceeding $200 million, resulting in a GAAP loss of $214.5 million for Q4 2025, indicating a severe deterioration in financial health that could undermine investor confidence.
- Contradictory Statements: The financial results contradict positive statements made by JinkoSolar's executives during the earnings call on November 17, 2025, suggesting potential risks related to improper disclosure and raising concerns about corporate governance among investors.
- Significant Stock Drop: Following the financial announcement, JinkoSolar's American Depositary Receipt (ADR) price fell by $2.88, or 11.89%, closing at $21.34 per ADR, reflecting a pessimistic market sentiment regarding the company's future prospects.
- Legal Investigation Initiated: Pomerantz LLP is investigating JinkoSolar and its executives to assess potential securities fraud or other unlawful business practices, which could lead to class action lawsuits and further impact the company's market reputation and shareholder value.
See More
JinkoSolar Announces Q1 2026 Earnings Release Schedule
- Earnings Release Schedule: JinkoSolar plans to release its unaudited financial results for Q1 2026 before the U.S. market opens on April 29, 2026, indicating the company's commitment to timely performance disclosure to enhance transparency.
- Conference Call Timing: Management will host an earnings conference call on April 29, 2026, at 8:30 a.m. U.S. Eastern Time, which is expected to attract investor attention and provide performance insights, further bolstering market confidence.
- Registration Process: Participants are required to register in advance to obtain dial-in numbers and access codes, ensuring a smooth conference experience and demonstrating the company's focus on investor relations.
- Replay Service: A telephone replay of the call will be available two hours after the conference concludes, until May 6, 2026, at 11:59 p.m. U.S. Eastern Time, ensuring that investors who cannot attend live can still access key information.
See More
