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JinkoSolar books 45.8% YOY increase in Q4'18 solar module shipments

JinkoSolar Holding Co. Ltd. on March 22 reported 3,618 MW of solar module shipments in the fourth quarter of 2018, an increase of 45.8% from 2,481 MW in the fourth quarter of 2017.

The company reported non-GAAP net income attributable to ordinary shareholders of 111.8 million Chinese yuan for the fourth quarter of 2018, compared to 41.5 million yuan in the same period a year ago. Non-GAAP diluted earnings per American depositary share were 2.84 yuan, up from 1.24 yuan in the fourth quarter of 2017.

Revenues totaled 7.72 billion yuan in the last quarter of 2018, an increase of 21.5% from 6.35 billion yuan in the fourth quarter of 2017.

For full year 2018, JinkoSolar recorded 11.4 GW of solar module shipments, including 209 MW that will be used in the company's overseas downstream solar projects. The result was an increase of 16% from 9.8 GW of solar module shipments in 2017.

Non-GAAP net income attributable to ordinary shareholders was 435.8 million yuan, up from 209.0 million yuan in 2017. Non-GAAP diluted earnings per American depositary share for 2018 were 11.28 yuan, compared to 6.36 yuan in 2017.

Revenues for 2018 totaled 25.04 billion yuan, a decrease of 5.4% from 26.47 billion yuan a year ago.

For the first quarter of 2019, JinkoSolar expects total solar module shipments to be in the range of 2.8 GW to 3.0 GW. For full year 2019, the company estimates total solar module shipments to be in the range of 14.0 GW to 15.0 GW.

As of March 21, $1 was equivalent to 6.69 Chinese yuan.