JINKOSOLAR HOLDING CO., LTD.
JinkoSolar Forecasts 2020 Deliveries Growth at over 35 Percent

JinkoSolar, the world's largest solar module producer, said last Friday that its deliveries for 2020 will grow more than 35 percent from a year earlier in 2019. In its latest earnings results, it showed shipments, revenue and gross profit for Q4 2019, were 4,538 MW, US$1.37 billion, and US$248.5mn respectively, the highest quarterly level in the company's history.

For 2019, JinkoSolar said, the company benefited from ramping up wafer capacity, improving cost structure, and stable ASP. It hit a record full-year shipments of 14.3GW, up 25.6% YoY, with revenues of US$4.27bn for 2019, up 18.8% YoY. The gross margin climbed from 14.0% to 18.3%.

It is expected JinkoSolar's advanced TR process, the technology applied in its latest model Tiger 475Wp which has begun mass production, will continue to make a big contribution to the company's sales after the success of its Cheetah. In addition, JinkoSolar is scheduled to launch a pilot production of the more powerful and sophisticated process beyond 500Wp later this year.

Due to increasing uncertainty caused by COVID-19, the global solar PV industry is estimated to see a mitigation and some drops in 2020, but JinkoSolar is expected to perform better and surpass the growth of the entire industry supported by strong backlogs.