JinkoSolar Holding Co., Ltd., one of the largest and most innovative solar module manufacturers in the world, has announced that its majority-owned principal operating subsidiary, Jinko Solar Co., Ltd. (“Jiangxi Jinko”), published estimates for certain preliminary unaudited financial results for the full year ended December 31, 2024.
For the year ended December 31, 2024, (i) preliminary unaudited net income attributable to shareholders of Jiangxi Jinko is estimated to be in the range of RMB80 million to RMB120 million, a decrease of 98.39% to 98.92% or RMB7,320.48 million to RMB7,360.48 million year-over-year, and (ii) preliminary unaudited net loss attributable to shareholders of Jiangxi Jinko excluding extraordinary gains and losses is estimated to be in the range of RMB750 million to RMB1,050 million, a decrease of 110.86% to 115.21% or RMB7,654.04 million to RMB7,954.04 million year-over-year.
The preliminary unaudited financial results for Jiangxi Jinko for the full year 2024 included in this press release (the “Jiangxi Jinko Preliminary Unaudited Financial Results”) differ from JinkoSolar’s consolidated financial results (the “Consolidated Financials”), due to (i) the consolidation scope of the Jiangxi Jinko Preliminary Unaudited Financial Results differing from that of the Consolidated Financials as the former are prepared solely for Jiangxi Jinko, whereas the Consolidated Financials also include financial statements from JinkoSolar and its other subsidiaries, and (ii) differences in accounting standards and principles used to prepare the Jiangxi Jinko Preliminary Unaudited Financial Results and the Consolidated Financials. Specifically, the Jiangxi Jinko Preliminary Unaudited Financial Results are prepared in accordance with PRC GAAP, whereas the Consolidated Financials are prepared in accordance with accounting principles generally accepted in the United States. As such, investors in JinkoSolar should exercise caution when reviewing the Jiangxi Jinko Preliminary Unaudited Financial Results included in this press release and are advised not to base their investment decisions solely on such preliminary unaudited financial results.
JinkoSolar currently owns approximately 58.59% equity interest in Jiangxi Jinko.
