driven by continuous demand and new product launches, JinkoSolar’s gross profit increased 11 per cent and the net profit of Q2 saw an increase of 2653 per cent from the previous quarter and 109 per cent increase from the second quarter of 2017.
Based on the current business outlook, the company is expected to deliver 6.7 GW- 7.2 GW of solar panels within the second half of the year, representing a 40 per cent sequential increase, while considering the full year base, the total shipment is estimated to reach between 11.5 GW- 12 GW, thus likely to make it number one in the industry. However, in the coming quarters, Q3 and Q4, its gross margin and net income is expected to grow significantly in the coming quarters due to continual operational efficiency improvement, diversified customer base, highly competitive products and a higher level of R&D activities.
“We are taking full advantage of our market leader position and production facility in Florida to expand our presence in the US market. Demand in emerging markets continues to grow, especially in Latin American, the Middle East and North Africa. We are deploying our resources there towards securing large and long-term orders through our mature sales network which spans a number of markets. We believe that the Indian solar sector will maintain its long-term growth trajectory despite the short-term impact of recently announced tariffs and we will continue to explore opportunities there,” said JinkoSolar’s Chief Executive Officer, during the Q2 earnings call.
Besides, JinkoSolar has successfully ramped up and has achieved a good yield of Cheetah series, which boosts up to 400 W in mass production. JinkoSolar has made a significant progress in improving wafer efficiency, reducing both oxygen content and light induced degradation, manufacturing capacity, etc.