JinkoSolar rises on strong third-quarter results

JinkoSolar Holding

30/10/2023 11:54

** Solar module manufacturer JinkoSolar's shares  JKS.N  up
6.99% to $27.70 in premarket trading after posting a rise in
profits for Q3
    ** Co reports a 108.2% increase in quarterly shipments to
22,597 MW as compared to the previous year 
    ** JKS said N-type module shipments accounted for over 60%
of global shipments for the quarter as demand continued to grow
globally amid lower supply chain prices
    ** Co expect module shipments to be approximately 23 GW for
4Q 2023
    ** The Shangrao, Jiangxi-based company expects Q4 module
shipments to be ~23 GW and expects to exceed it's full-year
module shipment target of 70-75 GW 
    ** The company's total revenue rises 63.1% YOY to RMB 31.83
billion ($4.36 bln)
    ** JinkoSolar posted an adjusted net income of RMB 4.61
($0.63) per share
    ** Up to the last close, the stock has fallen 36.67% YTD

    ($1= RMB 7.32)
    

 (Reporting by Kabir Dweit)
 ((Kabir.Dweit@thomsonreuters.com))