JinkoSolar Subsidiary Forecasts 147-171% Net Income Jump for FY23

TL;DR

**JinkoSolar's main subsidiary is crushing it, expecting net income to more than double for 2023!**

AI Summary

JinkoSolar Holding Co., Ltd. (NYSE: JKS) announced on January 26, 2024, that its main subsidiary, Jinko Solar Co., Ltd. (Jiangxi Jinko), expects its preliminary unaudited net income for the full year ended December 31, 2023, to be between RMB 7.25 billion and RMB 7.95 billion. This represents a significant year-over-year increase of 146.92% to 170.76%, or RMB 4.31 billion to RMB 5.01 billion. This matters to investors because it indicates strong profitability and growth for JinkoSolar's core operations, potentially boosting investor confidence and the stock price.

Why It Matters

This filing reveals JinkoSolar's primary operating subsidiary is projecting massive profit growth, signaling robust business performance that could drive the parent company's stock value.

Risk Assessment

Risk Level: low — The filing reports positive preliminary financial estimates, which generally reduces investment risk by indicating strong performance.

Analyst Insight

A smart investor would view these strong preliminary results as a positive indicator for JinkoSolar's overall financial health and consider increasing their position or initiating a new one, while awaiting the audited full-year results for confirmation.

Key Numbers

• RMB 7.25 billion to RMB 7.95 billion — Estimated Net Income (Preliminary unaudited net income attributable to shareholders of Jiangxi Jinko for full year 2023.)
• 146.92% to 170.76% — Year-over-Year Increase (Percentage increase in estimated net income for Jiangxi Jinko for full year 2023 compared to the previous year.)
• RMB 4.31 billion to RMB 5.01 billion — Absolute Increase in Net Income (Absolute increase in estimated net income for Jiangxi Jinko for full year 2023 compared to the previous year.)
• December 31, 2023 — Reporting Period End (The full year for which preliminary unaudited financial results are estimated.)
• January 26, 2024 — Filing Date (Date the 6-K report was filed and the press release was issued.)

Key Players & Entities

• JinkoSolar Holding Co., Ltd. (company) — registrant and parent company
• Jinko Solar Co., Ltd. (company) — majority-owned principal operating subsidiary
• Mengmeng (Pan) Li (person) — Chief Financial Officer of JinkoSolar Holding Co., Ltd.
• RMB 7.25 billion (dollar_amount) — low end of estimated net income for Jiangxi Jinko for FY2023
• RMB 7.95 billion (dollar_amount) — high end of estimated net income for Jiangxi Jinko for FY2023
• RMB 4.31 billion (dollar_amount) — low end of estimated year-over-year increase in net income for Jiangxi Jinko for FY2023
• RMB 5.01 billion (dollar_amount) — high end of estimated year-over-year increase in net income for Jiangxi Jinko for FY2023

Forward-Looking Statements

• JinkoSolar's stock price (JKS) will see an upward trend in the short term due to strong subsidiary performance. (JinkoSolar Holding Co., Ltd.) — medium confidence, target: 2024-02-26
• Analysts will revise their earnings estimates for JinkoSolar upwards following these preliminary results. (JinkoSolar Holding Co., Ltd.) — high confidence, target: 2024-03-31

FAQ

From the Filing

0001104659-24-006970.txt : 20240126 0001104659-24-006970.hdr.sgml : 20240126 20240126070749 ACCESSION NUMBER: 0001104659-24-006970 CONFORMED SUBMISSION TYPE: 6-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20240126 FILED AS OF DATE: 20240126 DATE AS OF CHANGE: 20240126 FILER: COMPANY DATA: COMPANY CONFORMED NAME: JinkoSolar Holding Co., Ltd. CENTRAL INDEX KEY: 0001481513 STANDARD INDUSTRIAL CLASSIFICATION: SEMICONDUCTORS & RELATED DEVICES [3674] ORGANIZATION NAME: 04 Manufacturing IRS NUMBER: 000000000 STATE OF INCORPORATION: E9 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 6-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-34615 FILM NUMBER: 24564118 BUSINESS ADDRESS: STREET 1: 1 YINGBIN ROAD STREET 2: SHANGRAO ECONOMIC DEVELOPMENT ZONE CITY: JIANGXI PROVINCE STATE: F4 ZIP: 334100 BUSINESS PHONE: (86-793)858-8188 MAIL ADDRESS: STREET 1: 1 YINGBIN ROAD STREET 2: SHANGRAO ECONOMIC DEVELOPMENT ZONE CITY: JIANGXI PROVINCE STATE: F4 ZIP: 334100 6-K 1 tm244214d1_6k.htm FORM 6-K UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934 For the month of January 2024 Commission File Number: 001-34615 JinkoSolar Holding Co., Ltd. (Translation of registrant’s name into English) 1 Yingbin Road Shangrao Economic Development Zone Jiangxi Province, 334100 People’s Republic of China (Address of principal executive offices) Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F. Form 20-F x Form 40-F ¨ EXHIBIT INDEX Number Description of Document 99.1 Press Release SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. JinkoSolar Holding Co., Ltd. By: /s/ Mengmeng (Pan) Li Name: Mengmeng (Pan) Li Title: Chief Financial Officer Date: January 26, 2024 EX-99.1 2 tm244214d1_ex99-1.htm EXHIBIT 99.1 Exhibit 99.1 JinkoSolar's Subsidiary Jinko Solar Co., Ltd. Announces Estimates of Certain Preliminary Unaudited Financial Results for Full Year 2023 01/26/2024 SHANGRAO, China, Jan. 26, 2024 /PRNewswire/ -- JinkoSolar Holding Co., Ltd. ("JinkoSolar" or the "Company") (NYSE: JKS), one of the largest and most innovative solar module manufacturers in the world, today announced that its majority-owned principal operating subsidiary Jinko Solar Co., Ltd. ("Jiangxi Jinko") published estimates of certain preliminary unaudited financial results for the full year ended December 31, 2023. For the year ended December 31, 2023, (i) the preliminary unaudited net income attributable to the shareholders of Jiangxi Jinko is estimated to be in the range from RMB7.25 billion to RMB7.95 billion, increasing by from RMB4.31 billion to RMB5.01 billion and by from 146.92% to 170.76% year over year, and (ii) the preliminary unaudited net income attributable to the shareholders of Jiangxi Jinko excluding extraordinary gains and losses is estimated to be in the range from RMB6.55 billion to RMB7.25 billion, increasing by from RMB3.90 billion to RMB4.60 billion and by from 147.59% to 174.05% year over year. The preliminary unaudited financial results of Jiangxi Jinko for 2023 described in this press release (the "Jiangxi Jinko Preliminary Unaudited Financial Results") are different from JinkoSolar's consolidated financial results (the "Consolidated Financials"), mainly because (i) the consolidation scope of the Jiangxi Jinko Preliminary Unaudited Financial Results differs from that of the Consolidated Financials: the Jiangxi Jinko Preliminary Unaudited Financial Results are prepared solely for Jiangxi Jinko, whereas the Consolidated Financials also include financial statements of JinkoSolar and its other subsidiaries, and (ii) the Jiangxi Jinko Preliminary Unaudited Financial Resul