JKS - Solar Storm Takes The Shine Off JinkoSolar
2024-03-22 08:25:00 ET
Summary
- JinkoSolar’s margins plunged in the fourth quarter due to sinking prices, and the company may have only remained profitable with help from government subsidies.
- The company predicted consolidation in the solar sector will accelerate this year, with the top 10 producers controlling 90% of the market by year-end, up from 70% in 2023.
- Despite the reliance on government subsidies to stay in the black, analysts still expect JinkoSolar and most of its peers to remain profitable this year, even as they continue to build new capacity.
The solar panel maker’s revenue rose just 9.4% in last year’s fourth quarter, far slower than its 66% jump in product shipments, as the industry suffered from tumbling prices. ...
Solar Storm Takes The Shine Off JinkoSolar