JinkoSolar Announces Fourth Quarter and Full Year 2022 Financial Results
Total revenues in the fourth quarter of 2022 were RMB 30.40 billion whereas total revenues for full year 2022 were RMB 83.53 billion.
March 14, 2023. By Anurima Mondal
Total revenues in the fourth quarter of 2022 were RMB 30.40 billion, an increase of 55.8 percent from RMB 19.52 billion in the third quarter of 2022 and an increase of 85.5 percent from RMB 16.39 billion in the fourth quarter of 2021.
Gross profit in the fourth quarter of 2022 was RMB 4.28 billion compared with RMB 3.07 billion in the third quarter of 2022 and RMB 2.64 billion in the fourth quarter of 2021. Income from operations in the fourth quarter of 2022 was RMB 646.2 million, compared with RMB 63.1 million in the third quarter of 2022 and RMB 485.8 million in the fourth quarter of 2021.
Operating profit margin was 2.1 percent in the fourth quarter of 2022, compared with 0.3 percent in the third quarter of 2022 and 3.0 percent in the fourth quarter of 2021.
Total revenues for full year 2022 were RMB 83.53 billion, an increase of 104.6 percent from RMB 40.83 billion for full year 2021. The increase in total revenues was mainly attributable to an increase in the shipment of solar modules due to increasing demand in the global market.
Gross profit for full year 2022 was RMB 12.35 billion, an increase of 85.4 percent from RMB 6.66 billion for full year 2021. The year-over-year increase was mainly attributable to an increase in the shipment of solar modules in 2022.
Gross margin was 14.8 percent for the full year 2022, compared with 16.3 percent for the full year 2021. Income from operations for full year 2022 was RMB 461.0 million, compared with RMB 1.10 billion for full year 2021.
Talking about the results, Xiande Li, Chairman and Chief Executive Officer, JinkoSolar said, "We closed a challenging 2022 with satisfactory results as we delivered strong operational and financial performance in the fourth quarter. Leveraging our outstanding global supply chain management and marketing network, our total shipments and total revenue increased significantly year over year. At the end of 2022, we became the first in the industry to reach the milestone of delivering a total of 130 GW solar modules. Throughout the year, as raw material costs continued to rise, we continued to optimise our cost structure relentlessly through technical advancement and manufacturing process improvement, which partially relieved the pressure on profitability. Annual shipments of high-efficiency premium N-type products exceeded 10 GW, further optimizing our product mix and gradually improving our profitability. Net income was approximately USD 102.9 million, up 29.1 percent sequentially, and nearly tripling year-over-year.”
please contact: contact@energetica-india.net.
Aman Mehtani
Founder & Group CEO
ADM Group Offers Smart, Sustainable Solutions for Global Automotive Industry
Gaurav Dolwani
CEO
From Scrap to Sustainability: LICO Materials’ Circular Economy Approach
Gaurav Kumar
Head of Supply Chain and Manufacturing
Euler Motors Bridges Cost Gap Between EVs and ICE Vehicles with Localization
Shveta Arya
India Region Leader
Powering India’s Mobility Future: Cummins Showcases Advanced Power Solutions at Bharat Mobility
Samkit Shah
Co-Founder
Jitendra EV Leading Hybrid EV Revolution with Hydrix