JinkoSolar Q2 revenue drops on price pressure

JinkoSolar Holding

26/08/2026 12:02

Overview
China solar module maker's Q2 revenue fell 31% yr/yr, net loss attributable reduces to RMB 697.3 mln from RMB 876.4 mln
Gross margin improved to 4.2% from 2.9% a year ago
Company declared US$0.375 per share cash dividend in June

Outlook
JinkoSolar expects Q3 2026 module shipments between 15 GW and 17 GW
Company expects full-year 2026 module shipments of 60 GW to 70 GW
JinkoSolar expects 2026 ESS shipments to more than double year-over-year

Result Drivers
SUPPLY CHAIN PRESSURE - Co said industry supply and demand remained dynamic, with policy shifts and price pressure affecting profitability
HIGH PRODUCTION COSTS - Elevated costs for ramping up high-efficiency products and delivery of low-value orders impacted gross margin and bottom line
INCREASED OPERATING EXPENSES - Higher expected credit losses contributed to increased operating expenses and operating loss

Company press release: ID:nPnbSntH7a

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
 
RMB 12.36 bln
 
Q2 Loss Per Share
 
RMB 3.30
 
Q2 Gross Margin
 
4.20%
 
Q2 Gross Profit
 
RMB 513.10 mln
 
Q2 Income from Operations
 
-RMB 1.44 bln
 
Q2 Operating Expenses
 
RMB 1.95 bln
 

Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 3 "strong buy" or "buy", 3 "hold" and 2 "sell" or "strong sell"
The average consensus recommendation for the renewable energy equipment & services peer group is "buy."
Wall Street's median 12-month price target for JinkoSolar Holding Co., Ltd. is $24.00, about 54.8% above its August 25 closing price of $15.50

Reuters Recommended Reads
Aug 25 - China's monthly solar installations recover in July but remain subdued
Aug 24 - TV maker TCL mulls spinning off photovoltaic business
Aug 25 - Sweden's Gigasun Q2 revenue falls 14% on weak solar output

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)