In the first quarter of 2022, JinkoSolar recorded operating revenue of 14.681 billion yuan, an increase of 86.42% year-on-year. Net profit attributable to the parent company was 0.401 billion yuan, a year-on-year increase of 66.39%. Net profit excluding one-time gains and losses (referred to as non-net profit deduction) was 0.3 billion yuan, a year-on-year increase of 287.78%. The company’s total shipments were 8,390 MW, of which module shipments were 8,031 MW, and wafer and cell shipments were 359 MW. The 2022 Q1 report pointed out that by the end of the first quarter, the company’s production capacities of monocrystalline wafers, cells and modules had reached 40 GW, 40 GW and 50 GW respectively.
These numbers look more impressive compared to the results of the first quarter of last year (Q1 2021) where JinkoSolar delivered 5.35 GW delivery worldwide. Total shipments increased by 56.7% compared to the same period last year. JinkoSolar is well positioned to grow significantly in the coming quarters as it ramps up production of Tiger Neo, Jinko’s new flagship product. The current exorbitant costs of raw materials and logistics, arises the need for solar panels with higher efficiency. Tiger Neo is the answer to that. Project investors, developers, and distributors in the DG market rely heavily on high-efficiency products to dilute the added cost and lower the dollar-per-kWh factor. Restrictions due to the surge in COVID-19 cases in the country, coupled with rising polysilicon costs, will drive and accelerate the shift to n-type solutions in 2022 and beyond.