JinkoSolar 2025 Annual Earnings Release: 29% Revenue Drop, Expanded Net Loss Driven by Severe Global Solar Industry Pressure

On the evening of the 27th, JinkoSolar Holding Co., Ltd. released its preliminary full-year 2025 earnings report.

During the reporting period, the company recorded total operating revenue of RMB 65,491.9174 million, down 29.18% year-on-year. Operating profit came in at -RMB 9,105.5634 million, a sharp decline of 1,248.29% compared with the same period last year. Net profit attributable to shareholders of the parent company reached -RMB 6,785.9324 million, representing a year-on-year decrease of 6,959.50%. Basic earnings per share were -RMB 0.68, down 6,900% year-on-year.

The company attributed the performance downturn to heightened volatility across the global photovoltaic supply chain, along with disruptions from overseas trade protection policies. These factors collectively weighed on profitability across the vertically integrated solar manufacturing chain.

Despite challenging market conditions, JinkoSolar Holding Co., Ltd. said it continued to pursue a strategy focused on stable operations and technology leadership. During the year, the company launched its next-generation high-efficiency module product, “Tiger Neo 3”, and advanced upgrades in manufacturing capacity and technology.

In addition, the company’s energy storage business reportedly achieved rapid growth, strengthening its integrated “solar + storage” synergy. However, persistently low module prices limited the contribution from high-power products, while their shipment share remained relatively low.

The company also conducted impairment tests on long-term assets showing signs of value deterioration. In line with conservative accounting principles under enterprise accounting standards, impairment provisions were recognized, which further impacted annual profitability and contributed to the full-year loss.