PRESS RELEASE
JinkoSolar has released a 2018 report with its record hit sales of 11.4GW and a massive 98% year-on-year growth in operating profits.
According to the report, the company recorded an impressive 11.4GW in deliveries in 2018, up 16% from 2017. Income from operations was 98% growth from that of the previous year.
The company’s growth in terms of sales and profits in 2018 is remarkable, and it looks to be the new direction that the company will take in 2019. As reports claimed, the focus would shift from shipment numbers to increasing profit margins.
The company said its high end mono products were the key performers with increased sales and margin. A strong geographical balanced distribution strategy was also a positive factor to offset the impact of domestic market fluctuations.
Looking to the new year, JinkoSolar said it will focus on premium mono panels represented by Cheetah and more specialized panels such as Swan , which will be officially launched during Intersolar Germany.
Based on paradigm shifts in the solar industry towards grid parity, customers and investors will increase their focus on technology and quality selected, new demand is expected to spur growth in the high end mono business.
Looking ahead to 2019, the company expects favorable conditions to continue, although there is uncertainty of China market. The order visibility is positive thanks to the increasing demand for more power panels, such as Cheetah and Swan. That has brought a supply shortage, which is pushing prices even higher and widening profit margins.
Cheetah was JinkoSolar’s top earner in 2018. It is expected that the rise of Cheetah capacity will further boost the company’s business. High tier models will take up a larger share of total shipments in 2019 and avoid the price competition in poly and conventional mono sectors.
Continued demand for Cheetah and supply constraints are likely to sustain profit margins for the foreseeable 2019
