JinkoSolar slips on Q2 loss

JinkoSolar Holding

30/08/2024 12:31

** U.S.-listed shares of Shanghai-based JinkoSolar  JKS.N 
fall 2.54% to $17.64 premarket
    ** Solar module manufacturer reports Q2 loss of $0.07/shr vs
year-ago profit of $0.78/shr as sales and gross margin dropped
    ** Posts Q2 sales of $3.31 bln, down from $4.32 bln a year
ago
    ** CEO says: "Oversupply and increasingly irrational low
prices" that have plagued the industry now being addressed by
"market forces, government and industry control policies"
    ** Co reaffirms FY24 guidance for module shipments of
100-110 gigawatt
    ** Up till last close, stock is down 51% YTD

 (Reporting by Pooja Menon in Bengaluru)
 ((Pooja.Menon@thomsonreuters.com;))