晶科能源披露2026年二季度亏损扩大并下调全年组件出货指引，同时更换CEO

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20260826091756
ACCESSION NUMBER: 0001104659-26-101093
CONFORMED SUBMISSION TYPE: 6-K
PUBLIC DOCUMENT COUNT: 22
CONFORMED PERIOD OF REPORT: 20260826
FILED AS OF DATE: 20260826
DATE AS OF CHANGE: 20260826
FILER:
COMPANY DATA:
COMPANY CONFORMED NAME: JinkoSolar Holding Co., Ltd.
CENTRAL INDEX KEY: 0001481513
STANDARD INDUSTRIAL CLASSIFICATION: SEMICONDUCTORS & RELATED DEVICES [3674]
ORGANIZATION NAME: 04 Manufacturing
EIN: 000000000
STATE OF INCORPORATION: E9
FISCAL YEAR END: 1231
FILING VALUES:
FORM TYPE: 6-K
SEC ACT: 1934 Act
SEC FILE NUMBER: 001-34615
FILM NUMBER: 261317824
BUSINESS ADDRESS:
STREET 1: 1 YINGBIN ROAD
STREET 2: SHANGRAO ECONOMIC DEVELOPMENT ZONE
CITY: JIANGXI PROVINCE
STATE: F4
ZIP: 334100
BUSINESS PHONE: (86-793)858-8188
MAIL ADDRESS:
STREET 1: 1 YINGBIN ROAD
STREET 2: SHANGRAO ECONOMIC DEVELOPMENT ZONE
CITY: JIANGXI PROVINCE
STATE: F4
ZIP: 334100
6-K
1
tm2624084d1_6k.htm
FORM 6-K
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 UNDER
THE SECURITIES EXCHANGE ACT OF 1934
For the month of August 2026
Commission File Number: 001-34615
JinkoSolar Holding Co., Ltd.
(Translation of registrant’s name into English)
1 Yingbin Road
Shangrao Economic Development Zone
Jiangxi Province, 334100
People’s Republic of China
(Address of principal executive offices)
Indicate by check mark whether the registrant
files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F
x
Form 40-F
¨
EXHIBIT INDEX
Number
Description of Document
99.1
Press release - JinkoSolar Appoints New Chief Executive Officer
99.2
Press release - JinkoSolar Announces Second Quarter 2026 Financial Results
SIGNATURES
Pursuant to the requirements
of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto
duly authorized.
JinkoSolar Holding Co., Ltd.
By:
/s/ Mengmeng (Pan) Li
Name:
Mengmeng (Pan) Li
Title:
Chief Financial Officer
Date: August 26, 2026
EX-99.1
2
tm2624084d1_ex99-1.htm
EXHIBIT 99.1
Exhibit 99.1
JinkoSolar Appoints New Chief Executive Officer
08/26/2026
SHANGRAO, China, Aug. 26, 2026 /PRNewswire/ -- JinkoSolar Holding
Co., Ltd. (“JinkoSolar” or the “Company”) (NYSE: JKS), a global leader in clean energy technology, today announced
that Mr. Xiande Li has resigned as the chief executive officer of the Company, effective August 26, 2026.
Mr. Wei “Dimi” Du will succeed Mr. Li as the chief
executive officer of the Company, effective August 26, 2026. Mr. Li will continue serving as the chairman and chair of the compensation
committee and the nominating and corporate governance committee of the board of directors. The resignation of Mr. Li was not due
to any disagreement with the Company, and the Company does not believe this change to its senior management team will have any material
impact on its business operations.
Mr. Du served as vice president of strategic investment at JinkoSolar
since April 2026, having previously been the general manager of strategic investment and assistant to the chairman of JinkoSolar
between December 2021 and March 2026, and the assistant to the chairman of Jinko Power Technology Co., Ltd. from February 2021
to December 2021. Prior to this, Mr. Du served as the executive general manager of investor relations at Shanghai Yuyuan Tourist
Mart (Group) Co., Ltd. from October 2018 to January 2021. Mr. Du holds a BSc degree in accounting and finance from
the University of Bristol and an MSc degree in finance from Imperial College London, United Kingdom.
“We are pleased to welcome Mr. Du as our chief executive
officer,” commented Mr. Xiande Li, Chairman of JinkoSolar, “This transition is part of a carefully planned succession process.
As we enter the next phase of development, this arrangement allows me to focus on our long-term strategy, board governance, and major
strategic decisions, while our new CEO will lead management in overseeing day-to-day operations, strategic execution, and capital allocation
at the group level. Dimi’s extensive experience in strategic investment and portfolio management ideally positions him to improve the
quality of our operations and drive execution of our core solar and energy storage businesses and strategic investment activities.”
“I am honored to take on the role of chief executive
officer,” said Mr. Wei “Dimi” Du, “Under Mr. Li’s leadership, JinkoSolar has generated sustainable
growth and expanded its business globally. I am fully committed to driving the next chapter of our growth by further improving our
operating quality and strategic execution, supporting the long-term development of our core solar and energy storage businesses, and
pursuing disciplined capital allocation and strategic investment management. I look forward to working closely with the management
team under the guidance of the board to create sustainable long-term value for our shareholders.”
About JinkoSolar Holding Co., Ltd.
JinkoSolar (NYSE: JKS) is a global leader in clean energy technology.
JinkoSolar distributes its solar products and sells its solutions and services to a diversified international utility, commercial and
residential customer base in China, the United States, Japan, Germany, the United Kingdom, Chile, South Africa, India, Mexico, Brazil,
the United Arab Emirates, Italy, Spain, France, Belgium, Netherlands, Poland, Austria, Switzerland, Greece and other countries and
regions.
JinkoSolar had over 10 production facilities globally, over 20 overseas
subsidiaries in Japan, South Korea, Vietnam, India, Turkey, Germany, Italy, Switzerland, the United States, Mexico, and other
countries, and a global sales network with sales teams in China, the United States, Canada, Brazil, Chile, Mexico, Italy, Germany,
Turkey, Spain, Japan, the United Arab Emirates, Netherlands, Vietnam and India, as of June 30, 2026.
To find out more, please see:
www.jinkosolar.com
Safe Harbor Statement
This press release contains forward-looking statements. These statements
constitute “forward-looking” statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act
of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,”
“future,” “intends,” “plans,” “believes,” “estimates” and similar statements. Among
other things, the quotations from management in this press release and the Company’s operations and business outlook, contain forward-looking
statements. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in
the forward-looking statements. Further information regarding these and other risks is included in JinkoSolar’s filings with the U.S.
Securities and Exchange Commission, including its annual report on Form 20-F. Except as required by law, the Company does not undertake
any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.
For investor and media inquiries, please contact:
In China:
Ms. Stella Wang
JinkoSolar Holding Co., Ltd.
Tel: +86 21-5180-8777 ext.7806
Email:
ir@jinkosolar.com
Mr. Christian Arnell
Christensen
Tel: +852 2117 0861
Email:
christian.arnell@christensencomms.com
In the U.S.:
Email:
jinko@christensencomms.com
View original content:
https://www.prnewswire.com/news-releases/jinkosolar-appoints-new-chief-executive-officer-302860484.html
SOURCE JinkoSolar Holding Co., Ltd.
EX-99.2
3
tm2624084d1_ex99-2.htm
EXHIBIT 99.2
Exhibit 99.2
JinkoSolar Announces Second Quarter 2026 Financial Results
08/26/2026
SHANGRAO, China, Aug. 26, 2026 /PRNewswire/ -- JinkoSolar Holding
Co., Ltd. ("JinkoSolar" or the "Company") (NYSE: JKS), a global leader in clean energy technology, today announced
its unaudited financial results for the second quarter ended June 30, 2026.
Second Quarter 2026 Business Highlights
Core Solar and Energy Storage Business Highlights
Total module shipments for the first half of 2026 were 29.6
GW, with approximately 70% shipped to overseas markets.
By the end of the second quarter, we became the first module
manufacturer in the world to have delivered a total of over 420 GW of solar modules, with total shipments of the Tiger Neo series surpassing
250 GW, making it the best-selling module series in our history.
In June 2026, we set new performance benchmarks for our
TOPCon modules with the launch of the next-generation Tiger Neo 5.0 module, featuring power output of over 700 W and module efficiency
of up to 25.91%.
Shipments of energy storage system for the first half of 2026
increased significantly year-over-year, accompanied by an expansion in gross margin.
Strategic Investment Highlights
During the second quarter, the Company, together with investment
funds in which it participates, completed strategic investments across 13 projects in renewable energy, advanced materials, AI, and other
frontier technologies.
During the first half of 2026, the Company disposed of a substantial
portion of its equity interest in LAPLACE Renewable Energy Technology Co., Ltd., generating over RMB300 million in cash proceeds.
Since our initial investment, the cumulative realized gain on this disposal (net of cost and transaction fees) exceeded RMB250 million.
This gain was recognized over multiple periods through fair value adjustments following its IPO in late 2024, with over RMB100 million
recorded in change in fair value of long-term investment upon settlement in the first half of 2026.
Additionally, our portfolio company, Hangzhou Gold Electronic
Equipment Co., Ltd., successfully completed its public listing during the second quarter, marking an important milestone in the
development of our strategic investment portfolio.
Second Quarter 2026 Operational and Financial Highlights
Quarterly shipments of solar modules were 15,961 MW, up 16.7%
sequentially and down 34.4% year-over-year.
Total revenues were RMB12.36 billion (US$1.82 billion), up 0.9%
sequentially and down 31.3% year-over-year.
Gross profit was RMB 513.1 million (US$75.6 million), down 49.6%
sequentially and 2.5% year-over-year.
Gross profit margin was 4.2%, compared with gross profit margin
of 8.3% in Q1 2026 and gross profit margin of 2.9% in Q2 2025.
Net loss attributable to JinkoSolar Holding Co., Ltd.'s ordinary shareholders was RMB697.3
million (US$102.8 million), compared with net loss attributable to JinkoSolar Holding Co., Ltd.'s ordinary shareholders of
RMB463.5 million in Q1 2026 and net loss attributable to JinkoSolar Holding Co., Ltd.'s ordinary shareholders of RMB876.4
million in Q2 2025.
Adjusted net loss attributable to JinkoSolar Holding Co., Ltd.'s ordinary shareholders was
RMB910.8 million (US$134.2 million), which excludes the impact of (i) the change in fair value of long-term investment,
(ii) gain from disposal of a subsidiary, and (iii) share-based compensation expenses, compared with adjusted net loss
attributable to JinkoSolar Holding Co., Ltd.'s ordinary shareholders of RMB549.3 million in Q1 2026 and adjusted net loss
attributable to JinkoSolar Holding Co., Ltd.'s ordinary shareholders of RMB856.4 million in Q2 2025.
Basic and diluted losses per ordinary share were RMB3.30 (US$0.49)
and RMB3.30 (US$0.49), respectively. This translates into basic and diluted losses per ADS of RMB13.19 (US$1.94) and RMB13.19 (US$1.94),
respectively.
Mr. Dimi Du, JinkoSolar's Chief Executive Officer,
commented, "Module shipments increased sequentially to approximately 16 GW during the quarter, bringing first half module
shipments to approximately 29.6 GW, once again at the forefront of industry. By the end of the second quarter, cumulative shipments
of our high-efficiency N-type Tiger Neo series surpassed 250 GW, making it the best-selling module series in our history. Leveraging
a sales network covering nearly 200 countries and regions and 35 service centers globally, shipments to overseas markets accounted
for around 70% of the first half total. Supply and demand across the PV industry remain dynamic and with policy shifts in both
domestic and overseas markets, prices along the supply chain and industry profitability continued to be under pressure. The cost of
ramping up production of our high-efficiency products remained elevated during the quarter and impacted our gross margin and bottom
line when combined with the delivery of certain low-value orders. In response, we optimized our order book and geographic mix,
managed utilization rates, and continued to increase the proportion of high-efficiency products within our total shipments while
introducing technologies that lower costs.
The PV industry is gradually shifting its focus from production capacity
and shipment scale toward effective supply, product value, and earnings quality.
The mandatory national energy efficiency standard for modules and inverters,
released in July 2026, will take effect in January 2027 and sets minimum energy efficiency thresholds for market access. We
are already seeing this shift in customer behavior, with the share of tenders for high-efficiency modules increasing significantly which
also command a premium. The distributed PV market is likewise transitioning from scale-driven growth toward scenario-based and operational
value. We believe these changes will benefit industry leaders such as ourselves, allowing us to capitalize on our advanced manufacturing
capacity, technological expertise, established brands and global delivery capabilities.
We expect to have more than 40 GW of TOPCon 3.0 production capacity
by the end of 2026. Based on the current standard requirements, the relevant products are expected to meet the Level 1 energy-efficiency
requirements. In June, we unveiled our next-generation Tiger Neo 5.0 modules, which, through the optimization of multiple core technologies,
achieved mass-produced efficiency of 25.91% and power output of over 700 W, once again setting a new benchmark for TOPCon product performance.
We are also extending our technology into scenario-based applications, most recently through Sunny 365, a suite of integrated solar-plus-storage
solutions designed for retail, AIDC and manufacturing scenarios.
Our energy storage systems (ESS) business maintained its momentum,
with shipments in the first half of the year increasing significantly year-over-year and gross margin improving year-over-year. Given
uncertainties in the timing of project delivery and other factors, recognized revenue remains in the ramp-up stage. As project deliveries
increase, alongside the ongoing enhancement of our proprietary PCS, EMS and other capabilities, we expect to improve the recognition contribution
and profit realization and to drive higher-quality growth in this business.
Alongside our core businesses, we are building an investment platform
as a complementary driver of long-term value creation.
Over the past several years, we have made selective investments in
more than 40 projects through direct investments and investment funds in which we participate, initially focusing on the solar and energy
storage value chains and more recently extending into AI and other frontier technologies. During the first half of 2026, we divested a
substantial portion of our equity interest in LAPLACE Renewable Energy Technology Co., Ltd., generating cash proceeds of over RMB300
million, while Hangzhou Gold Electronic Equipment Co., Ltd., one of our portfolio companies, successfully completed its listing on
the ChiNext Market of the Shenzhen Stock Exchange. These milestones demonstrate the progress we are making in realizing value from our
investment portfolio. We will continue to allocate capital prudently, with the long-term development of our core solar and energy storage
businesses remaining our top priority, while selectively pursuing strategic investments that can support sustainable long-term value creation.
Looking ahead, we expect our annual integrated production capacity
to reach approximately 100 GW by year-end 2026, including approximately 14 GW from overseas facilities. Considering demand dynamics in
certain markets, we will place greater emphasis on balancing shipment volume, profitability, cash flow and order quality, and are adjusting
our full year 2026 module shipment guidance to between 60 GW and 70 GW, with high-efficiency products accounting for over 60% of the total
shipments. For the third quarter of 2026, we expect module shipments to be between 15 GW and 17 GW."
Second Quarter 2026 Financial Results
Total Revenues
Total revenues in the second quarter of 2026 were
RMB12.36 billion (US$1.82 billion), representing an increase of 0.9% from RMB12.25 billion in the first quarter of 2026 and a decrease
of 31.3% from RMB17.99 billion in the second quarter of 2025. The sequential and year-over-year changes were mainly due to the fluctuations
in the shipment volume of solar modules.
Gross Profit and Gross Margin
Gross profit in the second quarter of 2026 was RMB513.1 million (US$75.6
million), compared with gross profit of RMB1.02 billion in the first quarter of 2026 and gross profit of RMB526.5 million in the second
quarter of 2025.
Gross profit margin was 4.2% in the second quarter
of 2026, compared with gross profit margin of 8.3% in the first quarter of 2026 and gross profit margin of 2.9% in the second quarter
of 2025. The sequential decrease was mainly due to a lower average selling price of solar modules, while the year-over-year increase was
primarily due to the higher average selling price of solar modules, partially offset by a higher unit cost of products sold.
Loss from Operations and Operating Margin
Loss from operations in the second quarter of 2026 was RMB1.44 billion
(US$211.7 million), compared with loss from operations of RMB588.2 million in the first quarter of 2026 and loss from operations of RMB1.38
billion in the second quarter of 2025. The sequential increase was primarily attributable to the decrease in our gross margin in the second
quarter of 2026, while the year-over-year increase was primarily due to the increase in our operating expenses in the second quarter of
2026.
Operating loss margin was 11.6% in the second quarter of 2026, compared
with operating loss margin of 4.8% in the first quarter of 2026 and operating loss margin of 7.7% in the second quarter of 2025.
Total operating expenses in the second quarter of 2026 were RMB1.95
billion (US$287.3 million), representing an increase of 21.3% from RMB1.61 billion in the first quarter of 2026 and an increase of 2.3%
from RMB1.91 billion in the second quarter of 2025. The sequential and year-over-year increases were primarily due to higher expected
credit losses in the second quarter of 2026.
Total operating expenses accounted for 15.8% of total revenues in the
second quarter of 2026, compared to 13.1% in the first quarter of 2026 and 10.6% in the second quarter of 2025.
Interest Expenses and Interest Income
Interest expenses were RMB386.9 million (US$57.0 million), and interest
income was RMB113.6 million (US$16.7 million) in the second quarter of 2026.
Net interest expenses in the second quarter of 2026 were RMB273.3 million
(US$40.3 million), representing an increase of 0.9% from RMB270.7 million in the first quarter of 2026 and an increase of 45.9% from RMB187.3
million in the second quarter of 2025. The year-over-year increase was primarily attributable to new lease liabilities recognized in connection
with lease contracts executed in late 2025.
Subsidy Income
Subsidy income in the second quarter of 2026 was RMB201.8 million (US$29.7
million), compared with RMB331.9 million in the first quarter of 2026 and RMB12.0 million in the second quarter of 2025. The sequential
and year-over-year changes were primarily attributable to the changes in government grants related to income.
Exchange Loss/Gain
The Company recorded a net exchange loss of RMB325.4 million (US$48.0
million) in the second quarter of 2026, compared to a net exchange loss of RMB482.8 million in the first quarter of 2026 and a net exchange
gain of RMB276.7 million in the second quarter of 2025. The sequential and year-over-year changes were mainly attributable to fluctuations
in the exchange rates of the US dollar and euro against RMB in the second quarter of 2026.
Change in Fair Value of Forward Contracts and Commodity Futures
The Company recorded a net loss from change in fair value of forward
contracts and commodity futures of RMB48.4 million (US$7.1 million) in the second quarter of 2026, compared to a net loss of RMB354.7
million in the first quarter of 2026 and a net loss of RMB178.8 million in the second quarter of 2025. The sequential improvement was
mainly due to the decrease of loss from change in fair value of commodity futures in the second quarter of 2026, while the year-over-year
improvement was primarily due to the decrease of loss from change in fair value of forward contracts in the second quarter of 2026.
Change in Fair Value of Long-term Investment
The Company holds certain equity interests in several companies operating
across the photovoltaic, energy storage, and artificial intelligence sectors, which are recorded as long-term investment and available-for-sale
securities and reported at fair value with changes in fair value recognized as gains or losses. As of June 30, 2026, the Company
had RMB1.99 billion (US$294.0 million) in long-term investment (excluding the investments accounted for under the equity method and held-to-maturity
debt securities) and available-for-sale securities, compared with RMB1.10 billion as of March 31, 2026.
The Company recognized a gain from change in fair value of long-term
investment of RMB 370.3 million (US$54.6 million) in the second quarter of 2026, compared with a gain of RMB124.4 million in the first
quarter of 2026 and a gain of RMB42.3 million in the second quarter of 2025. The sequential and year-over-year improvements were primarily
due to fair value gains from a previously invested company that went public in the second quarter of 2026, reflecting both post-IPO share
price appreciation on the original investment and the incremental fair value from additional investments made during the second quarter
of 2026.
Other Loss/Income, Net
Net other loss in the second quarter of 2026 was RMB23.9 million (US$3.5million),
compared with net other income of RMB34.9 million in the first quarter of 2026 and net other loss of RMB204.7 million in the second quarter
of 2025. The sequential and year-over-year changes were mainly due to the changes in the fair value of financial instruments in the second
quarter of 2026.
Gain from disposal of a subsidiary
On May 31, 2026, we completed the transfer of 75.1% equity interest
in Jinko Solar (U.S.) Industries Inc. to FH JKV Holdings Limited for total cash consideration of RMB1.31 billion (US$191.5 million). The
transaction resulted in a pre-tax disposal gain of approximately RMB236.6 million (US$34.9 million). Effective upon closing, the subsidiary's
financial results are no longer consolidated in our financial statements, and our retained 24.9% equity interest is subsequently measured
and recognized using the equity method.
Equity in Loss of Affiliated Companies
The Company indirectly holds equity interests in several affiliated
companies engaged in solar business, which are accounted for using the equity method. The Company recorded equity in loss of affiliated
companies of RMB78.6 million (US$11.6 million) in the second quarter of 2026, compared with equity in loss of affiliated companies of
RMB54.5 million in the first quarter of 2026 and equity in loss of affiliated companies of RMB70.9 million in the second quarter of 2025.
The fluctuations in equity in loss of affiliated companies primarily arose from the changes in net losses incurred by the affiliated companies.
Income Tax Benefit
The Company recorded an income tax benefit of RMB163.7 million (US$24.1
million) in the second quarter of 2026, compared with income tax benefit of RMB379.3 million in the first quarter of 2026 and income tax
benefit of RMB288.8 million in the second quarter of 2025.
Net Loss Attributable to Non-Controlling Interests
Net loss attributable to non-controlling interests amounted to RMB569.9
million (US$84.0million) in the second quarter of 2026, compared with net loss attributable to non-controlling interests of RMB449.4 million
in the first quarter of 2026 and net loss attributable to non-controlling interests of RMB546.6 million in the second quarter of 2025.
The sequential and year-over-year changes were mainly attributable to the fluctuations in net loss of Jiangxi Jinko, the Company's majority-owned
principal operating subsidiary.
Net Loss and Losses per Share
Net loss attributable to JinkoSolar Holding Co., Ltd.'s
ordinary shareholders was RMB697.3 million (US$102.8 million) in the second quarter of 2026, compared with net loss attributable to
JinkoSolar Holding Co., Ltd.'s ordinary shareholders of RMB463.5 million in the first quarter of 2026 and net loss attributable
to JinkoSolar Holding Co., Ltd.'s ordinary shareholders of RMB876.4 million in the second quarter of 2025.
Excluding the impact of (i) the change in fair value of the
long-term investment, (ii) gain from disposal of a subsidiary, and (iii) share-based compensation expenses, adjusted net
loss attributable to JinkoSolar Holding Co., Ltd.'s ordinary shareholders was RMB910.8 million (US$134.2 million) in the second
quarter of 2026, compared with adjusted net loss attributable to JinkoSolar Holding Co., Ltd.'s ordinary shareholders of
RMB549.3 million in the first quarter of 2026 and adjusted net loss attributable to JinkoSolar Holding Co., Ltd.'s ordinary
shareholders of RMB856.4 million in the second quarter of 2025.
Basic and diluted losses per ordinary share were RMB3.30 (US$0.49)
and RMB3.30 (US$0.49), respectively, in the second quarter of 2026, compared to basic and diluted losses per ordinary share of RMB2.21
and RMB2.21, respectively, in the first quarter of 2026, and basic and diluted losses per ordinary share of RMB4.20 and RMB4.20, respectively,
in the second quarter of 2025. As each ADS represents four ordinary shares, this translates into basic and diluted losses per ADS of RMB13.19
(US$1.94) and RMB13.19 (US$1.94), respectively, in the second quarter of 2026; basic and diluted losses per ADS of RMB8.85 and RMB8.85,
respectively, in the first quarter of 2026; and basic and diluted losses per ADS of RMB16.82 and RMB16.82, respectively, in the second
quarter of 2025.
Financial Position
As of June 30, 2026, the Company had RMB16.94 billion (US$2.50
billion) in cash, cash equivalents, and restricted cash, compared with RMB22.81 billion as of March 31, 2026.
As of June 30, 2026, the Company's net accounts receivable
was RMB12.61 billion (US$1.86 billion), compared with RMB13.77 billion as of March 31, 2026.
As of June 30, 2026, the Company's inventories were RMB16.47
billion (US$2.43 billion), compared with RMB17.71 billion as of March 31, 2026.
As of June 30, 2026, the Company's total interest-bearing debts
were RMB44.90 billion (US$ 6.62 billion), compared with RMB47.27 billion as of March 31, 2026.
Operations and Business Outlook Highlights
Third Quarter and Full Year 2026 Guidance
The Company's business outlook is based on management's current views
and estimates with respect to market conditions, production capacity, the Company's order book and the global economic environment. This
outlook is subject to uncertainty on final customer demand and sale schedules. Management's views and estimates are subject to change
without notice.
For the third quarter of 2026, the Company expects its module shipments
to be in the range of 15.0 GW to 17.0 GW.
Taking into account changes in demand in certain markets, as well as
the Company's increased focus on balancing shipment volume with profitability, cash flow and order quality, the Company now expects its
full-year 2026 module shipments to be in the range of 60.0 GW to 70.0 GW.
For full year 2026, the Company expects its ESS shipments to be more
than doubled year-over-year.
Solar Products Production Capacity
The Company expects its annual integrated production capacity to reach
approximately 100 GW, including approximately 14 GW from overseas facilities, by the end of 2026.
Recent Business Developments
In June 2026, JinkoSolar's board of directors declared a cash dividend of US$0.375 per ordinary
share of US$0.00002 each of the Company, or US$1.50 per ADS.
In June 2026, JinkoSolar was recognized as an Overall Highest
Achiever in the 2026 PV Module Index (PVMI) Report, published by RETC, part of the VDE Group.
In June 2026, JinkoSolar's Tiger Neo 3.0 modules achieved TÜV Rheinland's "A+ Shading
Score" under the PfG 2926/05.25 test methodology, while also successfully completing advanced hail resistance verification
according to VKF standards.
Conference Call Information
JinkoSolar's management will host an earnings conference call on
Wednesday, August 26, 2026 at 8:30 a.m. U.S. Eastern Time (8:30 p.m. Beijing / Hong Kong the same day).
Please register in advance of the conference using the link provided
below. Upon registering, you will be provided with participant dial-in numbers, passcode and unique access PIN by a calendar invite.
Participant Online Registration:
https://s1.c-conf.com/diamondpass/10056808-i852sd.html
It will automatically direct you to the registration page of "JinkoSolar
Second Quarter 2026 Earnings Conference Call", where you may fill in your details for RSVP.
In the 10 minutes prior to the call start time, you may use the conference
access information (including dial-in number(s), passcode and unique access PIN) provided in the calendar invite that you have received
following your pre-registration.
A telephone replay of the call will be available 2 hours after the
conclusion of the conference call through 23:59 U.S. Eastern Time, September 2, 2026. The dial-in details for the replay are as follows:
International:
+61 7 3107 6325
U.S.:
+1
855 883 1031
Passcode:
10056808
Additionally, a live and archived webcast of the conference call will
be available on the Investor Relations section of JinkoSolar's website at
http://www.jinkosolar.com.
About JinkoSolar Holding Co., Ltd.
JinkoSolar (NYSE: JKS) is a global leader in clean energy technology.
JinkoSolar distributes its solar products and sells its solutions and services to a diversified international utility, commercial and
residential customer base in China, the United States, Japan, Germany, the United Kingdom, Chile, South Africa, India, Mexico, Brazil,
the United Arab Emirates, Italy, Spain, France, Belgium, Netherlands, Poland, Austria, Switzerland, Greece and other countries and
regions.
JinkoSolar had over 10 production facilities globally, over 20 overseas
subsidiaries in Japan, South Korea, Vietnam, India, Turkey, Germany, Italy, Switzerland, the United States, Mexico, and other
countries, and a global sales network with sales teams in China, the United States, Canada, Brazil, Chile, Mexico, Italy, Germany,
Turkey, Spain, Japan, the United Arab Emirates, Netherlands, Vietnam and India, as of June 30, 2026.
To find out more, please see:
www.jinkosolar.com
Currency Convenience Translation
The conversion of Renminbi into U.S. dollars in this release, made
solely for the convenience of the readers, is based on the noon buying rates in the city of New York for cable transfers of Renminbi as
certified for customs purposes by the Federal Reserve Bank of New York as of June 30, 2026, which was RMB6.7851 to US$1.00. No representation
is intended to imply that the Renminbi amounts could have been, or could be, converted, realized, or settled into U.S. dollars at that
rate or any other rate. The percentages stated in this press release are calculated based on Renminbi.
Safe Harbor Statement
This press release contains forward-looking statements. These statements
constitute "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act
of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates,"
"future," "intends," "plans," "believes," "estimates" and similar statements. Among
other things, the quotations from management in this press release and the Company's operations and business outlook, contain forward-looking
statements. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in
the forward-looking statements. Further information regarding these and other risks is included in JinkoSolar's filings with the U.S.
Securities and Exchange Commission, including its annual report on Form 20-F. Except as required by law, the Company does not undertake
any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.
For investor and media inquiries, please contact:
In China:
Ms. Stella Wang
JinkoSolar Holding Co., Ltd.
Tel: +86 21-5180-8777 ext.7806
Email:
ir@jinkosolar.com
Mr. Christian Arnell
Christensen
Tel: +852 2117 0861
Email:
christian.arnell@christensencomms.com
In the U.S.:
Email:
jinko@christensencomms.com
JINKOSOLAR HOLDING CO., LTD.
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except ADS and Share data)
For
the quarter ended
For
the six months ended
Jun
30, 2025
Mar
31, 2026
Jun
30, 2026
Jun
30, 2025
Jun
30, 2026
RMB'000
RMB'000
RMB'000
USD'000
RMB'000
RMB'000
USD'000
Revenues
17,988,725
12,249,048
12,356,951
1,821,189
31,832,365
24,605,999
3,626,476
Cost of revenues
(17,462,264
)
(11,230,471
)
(11,843,858
)
(1,745,569
)
(31,658,778
)
(23,074,329
)
(3,400,735
)
Gross
profit
526,461
1,018,577
513,093
75,620
173,587
1,531,670
225,741
Operating expenses:
Selling and marketing
(1,227,267
)
(901,688
)
(939,426
)
(138,454
)
(2,372,678
)
(1,841,114
)
(271,347
)
General and administrative
(401,761
)
(476,564
)
(767,565
)
(113,125
)
(1,616,826
)
(1,244,129
)
(183,362
)
Research and development
(251,598
)
(228,483
)
(231,363
)
(34,099
)
(403,400
)
(459,846
)
(67,773
)
Impairment
of long-lived assets
(24,536
)
-
(11,145
)
(1,643
)
(24,536
)
(11,145
)
(1,643
)
Total
operating expenses
(1,905,162
)
(1,606,735
)
(1,949,499
)
(287,321
)
(4,417,440
)
(3,556,234
)
(524,125
)
Loss from operations
(1,378,701
)
(588,158
)
(1,436,406
)
(211,701
)
(4,243,853
)
(2,024,564
)
(298,384
)
Interest expenses
(332,800
)
(380,636
)
(386,897
)
(57,022
)
(674,403
)
(767,533
)
(113,120
)
Interest income
145,540
109,887
113,621
16,746
249,869
223,508
32,941
Subsidy income
12,033
331,911
201,820
29,745
547,990
533,731
78,662
Exchange gain/(loss),net
276,686
(482,808
)
(325,367
)
(47,953
)
412,371
(808,175
)
(119,110
)
Change in fair value of forward contracts and commodity
futures
(178,816
)
(354,718
)
(48,414
)
(7,136
)
(232,779
)
(403,132
)
(59,414
)
Change in fair value of Long-term Investment
42,301
124,426
370,308
54,577
(3,855
)
494,734
72,915
Other (loss)/income, net
(204,748
)
34,862
(23,880
)
(3,519
)
(384,110
)
10,982
1,619
Gain from disposal of a subsidiary
-
-
236,585
34,868
-
236,585
34,868
Loss before income
taxes
(1,618,505
)
(1,205,234
)
(1,298,630
)
(191,395
)
(4,328,770
)
(2,503,864
)
(369,023
)
Income tax benefits
288,768
379,259
163,675
24,123
988,247
542,935
80,019
Equity in loss of affiliated companies
(70,873
)
(54,470
)
(78,621
)
(11,587
)
(116,946
)
(133,090
)
(19,615
)
Net loss
(1,400,610
)
(880,445
)
(1,213,576
)
(178,859
)
(3,457,469
)
(2,094,019
)
(308,619
)
Less: Net loss attributable to non-controlling interests
546,626
449,376
569,946
84,000
1,302,680
1,019,322
150,229
Less: Accretion to redemption value of redeemable non-controlling
interests
(22,438
)
(32,445
)
(53,623
)
(7,903
)
(40,512
)
(86,068
)
(12,685
)
Net loss attributable to JinkoSolar
Holding Co., Ltd.'s ordinary shareholders
(876,422
)
(463,514
)
(697,253
)
(102,762
)
(2,195,301
)
(1,160,765
)
(171,075
)
Net (loss)/income attributable
to
JinkoSolar Holding Co., Ltd.'s
ordinary shareholders per share:
Basic
(4.20
)
(2.21
)
(3.30
)
(0.49
)
(10.59
)
(5.52
)
(0.81
)
Diluted
(4.20
)
(2.21
)
(3.30
)
(0.49
)
(10.59
)
(5.52
)
(0.81
)
Net (loss)/income attributable to
JinkoSolar
Holding Co., Ltd.'s
ordinary shareholders per ADS:
Basic
(16.82
)
(8.85
)
(13.19
)
(1.94
)
(42.34
)
(22.06
)
(3.25
)
Diluted
(16.82
)
(8.85
)
(13.19
)
(1.94
)
(42.34
)
(22.06
)
(3.25
)
Weighted average ordinary shares
outstanding:
Basic
208,496,117
209,480,753
211,435,343
211,435,343
207,378,908
210,463,447
210,463,447
Diluted
208,496,117
209,480,753
211,435,343
211,435,343
207,378,908
210,463,447
210,463,447
Weighted average ADS outstanding:
Basic
52,124,029
52,370,188
52,858,836
52,858,836
51,844,727
52,615,862
52,615,862
Diluted
52,124,029
52,370,188
52,858,836
52,858,836
51,844,727
52,615,862
52,615,862
JINKOSOLAR HOLDING CO., LTD.
UNAUDITED CONDENSED CONSOLIDATED
BALANCE SHEETS
(in thousands)
Dec 31, 2025
Jun 30, 2026
RMB'000
RMB'000
USD'000
ASSETS
Current assets:
Cash,cash equivalents, and restricted cash
22,938,381
16,941,252
2,496,831
Restricted short-term investments and short-term investments
7,487,415
8,766,415
1,292,009
Accounts receivable, net
13,587,215
12,606,756
1,858,006
Notes receivable, net
3,677,372
1,778,508
262,120
Advances to suppliers, net
1,325,633
1,322,526
194,916
Inventories, net
14,484,828
16,473,187
2,427,847
Forward contract and commodity future receivables
58,923
103,535
15,259
Prepayments and other current assets, net
4,909,826
5,609,364
826,718
Held-for-sale assets
344,553
128,848
18,990
Total current assets
68,814,146
63,730,391
9,392,696
Non-current assets:
Restricted long-term investments
471,573
1,026,402
151,273
Long-term investments
1,441,683
3,934,684
579,900
Property, plant and equipment, net
36,644,813
35,764,854
5,271,087
Land use rights, net
2,140,953
2,014,358
296,880
Intangible assets, net
445,866
397,248
58,547
Right-of-use assets, net
3,617,900
3,612,536
532,422
Deferred tax assets
4,576,302
4,418,390
651,190
Advances to suppliers to be utilised beyond one year
605,525
717,178
105,699
Other assets, net
2,026,752
2,210,857
325,840
Available-for-sale securities-non-current
238,464
690,911
101,828
Total non-current assets
52,209,831
54,787,418
8,074,666
Total assets
121,023,977
118,517,809
17,467,362
LIABILITIES
Current liabilities:
Accounts payable
13,707,552
13,354,154
1,968,159
Notes payable
9,996,577
8,250,801
1,216,017
Accrued payroll and welfare expenses
2,645,041
1,924,052
283,570
Advances from customers
5,316,889
6,337,166
933,983
Income tax payables
177,580
262,355
38,666
Other payables and accruals
12,370,639
12,439,840
1,833,403
Forward contract and commodity future payables
56,129
72,487
10,683
Lease liabilities - current
118,363
38,659
5,698
Short-term borrowings, including
current portion of long-term borrowings, and failed sale-leaseback financing
10,655,366
13,624,605
2,008,018
Total current liabilities
55,044,136
56,304,119
8,298,197
Non-current liabilities:
Long-term borrowings
18,206,905
15,135,046
2,230,630
Convertible notes
10,594,637
8,876,294
1,308,204
Accrued warranty costs - non current
1,655,630
1,554,913
229,166
Lease liabilities-noncurrent
3,550,598
3,781,246
557,287
Deferred tax liability
29,974
114,072
16,812
Long-term Payables
4,371,333
3,921,737
577,993
Total non-current liabilities
38,409,077
33,383,308
4,920,092
Total liabilities
93,453,213
89,687,427
13,218,289
MEZZANINE EQUITY
Redeemable non-controlling interests
1,545,058
3,539,877
521,713
SHAREHOLDERS' EQUITY
Total JinkoSolar Holding Co., Ltd. shareholders' equity
15,726,132
14,604,359
2,152,417
Non-controlling interests
10,299,574
10,686,146
1,574,943
Total shareholders' equity
26,025,706
25,290,505
3,727,360
Total liabilities, non-controlling interest and shareholders' equity
121,023,977
118,517,809
17,467,362
View
original content:
https://www.prnewswire.com/news-releases/jinkosolar-announces-second-quarter-2026-financial-results-302860485.html
SOURCE JinkoSolar Holding Co., Ltd.
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