JinkoSolar Q2 total revenues up 55.5%, net income down
Staff Writer |
JinkoSolar Holding announced its unaudited financial results for the second quarter ended June 30, 2016.
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Total solar module shipments were 1,716 megawatts (MW), which includes 204 MW used in JinkoSolar's downstream projects.
Total solar module shipments increased by 7.3% from 1,600 MW in the first quarter of 2016 and 87.9% from 913 MW in the second quarter of 2015.
Total revenues were RMB5.96 billion ($896.1 million), representing an increase of 8.9% from the first quarter of 2016 and 86.1% from the second quarter of 2015.
Solar power projects generated 327 GWh of electricity, representing an increase of 55.8% from the first quarter of 2016 and 60.9% from the second quarter of 2015.
Total revenues generated from solar power projects were RMB288.5 million ($43.4 million), representing an increase of 55.5% from the first quarter of 2016 and 62.1% from the second quarter of 2015.
As of June 30, 2016, JinkoSolar had connected 1,130 MW worth of solar power projects.
Gross margin was 20.4%, compared with 21.3% in the first quarter of 2016 and 20.7% in the second quarter of 2015.
Income from operations was RMB445.1 million ($67.0 million), compared with RMB573.7 million in the first quarter of 2016 and RMB237.0 million in the second quarter of 2015.
Net income attributable to JinkoSolar's ordinary shareholders was RMB280.1 million ($42.1 million), compared with RMB313.3 million in the first quarter of 2016 and RMB76.4 million in the second quarter of 2015.
Diluted earnings per American depositary share (ADS) were RMB8.48 ($1.28), compared with RMB9.32 in the first quarter of 2016 and RMB2.40 in the second quarter of 2015.
Non-GAAP net income attributable to JinkoSolar's ordinary shareholders was RMB421.8 million ($63.5 million), compared with RMB414.6 million in the first quarter of 2016 and RMB206.8 million in the second quarter of 2015.
Non-GAAP basic and diluted earnings per ADS were RMB13.44 ($2.04) and RMB12.72 ($1.92), respectively, in the second quarter of 2016. ■