Jinko Power Technology (601778) Q3 2025 earnings summary

Executive summary

• Net profit attributable to shareholders for the first nine months rose 61.82% year-over-year to ¥355.69 million, with Q3 net profit up 76.49% year-over-year to ¥232.97 million.

• Revenue for the first nine months was ¥3.12 billion, down 19.73% year-over-year, with Q3 revenue dropping 49.26% compared to the same quarter last year.

• Significant increase in operating cash flow, up 454.05% year-over-year to ¥3.27 billion for the first nine months.

Financial highlights

• Basic EPS for the first nine months was ¥0.10, up 66.67% year-over-year; Q3 basic EPS was ¥0.07, up 75%.

• Gross margin improved due to higher investment income from asset disposals and lower disaster-related losses.

• Total assets at Q3-end were ¥42.34 billion, slightly down from year-end 2024.

• Return on equity (ROE) for the first nine months increased by 0.80 percentage points year-over-year to 2.21%.

Outlook and guidance

• The company expects the Antequera project in Spain to achieve commercial operation in Q4 2025, with the final transaction deadline set for June 30, 2026.

• The Jianshe 70MWp project’s operational timeline was adjusted to April 2026 due to supporting infrastructure delays, but project feasibility remains unchanged.