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Jinko Solar (688223) investor relations material
Jinko Solar Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Revenue for the first nine months of 2025 was RMB 47.99 billion, down 33.14% year-over-year, mainly due to falling photovoltaic (PV) module prices.
Net loss attributable to shareholders was RMB 3.92 billion, a sharp decline from a profit of RMB 1.21 billion in the same period last year.
PV module shipments reached 61.85GW for January–September 2025, with average delivery prices improving sequentially and operational cash flow showing improvement.
Financial highlights
Operating income for Q3 2025 was RMB 16.15 billion, down 34.11% year-over-year.
Gross margin and profitability declined significantly due to intensified market competition and continued price drops in PV products.
Basic and diluted EPS for the first nine months was -0.39 RMB, compared to 0.12 RMB last year.
R&D investment for the period was RMB 1.85 billion, down 48.78% year-over-year.
Outlook and guidance
The company plans to continue focusing on high-efficiency capacity upgrades and supply-side reforms to maintain industry leadership.
Future performance may be affected by changes in customer demand, industry policy, and global trade environment.
- TimeTickerHeadlineOpen
- GAIN
Record new investments and NAV growth highlight a strong quarter with robust distributions. - GAIN
Record realized gains and income drove higher NAV and strong distributions in FY25. - GAIN
Net investment income reached $9.1M, NAV per share was $12.99, and distributions stayed strong. - EPAC
Directors, auditor, and executive pay were approved with strong shareholder participation. - ARCC
FY 2025 delivered $2.01 core EPS, $1.86/share net income, and a $29.5B portfolio. - GAIN
NAV per share rose to $13.53 on strong portfolio growth and stable adjusted NII. - MATW
Net income $43.6M, sales $284.8M, debt reduced $174M, FY2026 EBITDA guidance $180M. - 443060
Operating profit rose 28.9% in 2025, with strong core business and digital segment growth. - GM
Disciplined transformation, resilient cash flow, and software growth drive a strong outlook. - BTBT
Transitioned to a strategic asset model centered on ETH staking and AI infrastructure growth.
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