JinkoSolar surpasses 5GW quarterly module delivery milestone

• Leading 'Solar Module Super League' (SMSL) member JinkoSolar set a new quarterly module shipment record in the 3rd quarter of 2020, reaching over 5G of deliveries.

Yet the company has lowered its full-year shipment support, as a result of provide chain product scarcities, especially solar glass, it exposed in a Q3 2020 update released today.

The SMSL member reported overall module shipments in the 3rd quarter of 2020 of 5,117 MW, up 53.8% year-on-year and also 648MW greater than the previous quarter.

Module delivery support for 2020 was claimed to be in the series of 18.5 GW to 19GW, down from previous support of 18GW to 20GW.

Kangping Chen, JinkoSolar's chief executive officer, exposed the company likewise anticipates its in-house yearly monocrystalline silicon wafer, solar cell and also module manufacturing ability to get to 20GW, 11GW and 30GW, specifically.

" Even though we faced some stress this quarter due to the shortage of basic materials which enhanced manufacturing expenses, coupled with the effect people buck fluctuations and also higher logistics and also transportation costs, we have approached these concerns proactively in a couple of means. We handled to ensure the steady supply of core basic materials as well as auxiliary products with lasting acquisition contracts, critical cooperation, and our R&D group recognized and used replacement materials to assist relieve supply chain volatility," he said.

JinkoSolar reported complete earnings of US$ 1.29 billion, a rise of 3.8% sequentially as well as 17.2% year-over-year.

Gross profit was US$ 220.2 million, up 8.2%, year-on-year, while gross margin was 17.0%, compared with 17.9% in Q2 2020 and also 18.5% in Q3 2019. The decline was mostly because of the continued decrease in typical asking price of solar modules.

Assistance

For the 4th quarter of 2020, JinkoSolar expects total solar module deliveries to be in the range of 5.5 GW to 6.0 GW, while complete profits is anticipated to be in the series of US$ 1.31 billion to US$ 1.43 billion. Gross margin for the fourth quarter is anticipated to fall even more and remain in the variety of 13% to 15%.

The firm additionally said that it expected a considerable increase sought after 2021 yet traffic jams of basic materials experienced in the third and 4th quarters of this year were anticipated to progressively improve in 2021.