JinkoSolar Holding Co. Ltd. (JKS.US) on Wednesday said its main operating unit, Shanghai-listed Jinko Solar Co. Ltd. (688223.SH), expects to report a net loss of 5.9 billion yuan ($847 million) to 6.9 billion yuan for 2025. The big loss marks a sharp turnaround from the 99 million yuan profit the Shanghai-listed company reported in 2024 and 7.44 billion yuan profit in 2023, as Jinko and its peers suffer from a prolonged price war that has pushed most companies into the red.
Excluding one-time gains and losses, the Shanghai-listed Jinko Solar expects to report a loss of between 6.7 billion yuan and 7.8 billion yuan for 2025, the New York-listed JinkoSolar said. Shanghai-listed Jinko Solar previously reported a loss of 3.92 billion yuan in the first three quarters of last year, reversing a profit of 1.21 billion yuan in the year-ago period.
New York-listed JinkoSolar owns 55.6% of Shanghai-listed Jinko Solar. Shares of the New York-listed company fell 2.3% on Wednesday, but are up 24.1% over the last 52 weeks. Shares of the Shanghai-listed company rose 3.8% on Thursday, but are down 7.3% over the last 52 weeks.
By Doug Young
To subscribe to Bamboo Works weekly free newsletter, click here
