JinkoSolar Holding announced its unaudited financial results for the fourth quarter ended December 31, 2016.
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Total revenues were RMB5.12 billion ($737.6 million), a decrease of 3.9% from the third quarter of 2016 and a decrease of 13.7% from the fourth quarter of 2015.
Total revenues including electricity revenue from discontinued operations were RMB5.23 billion ($753.0 million), a decrease of 8.3% from the third quarter of 2016 and a decrease of 13.9% from the fourth quarter of 2015.
Gross margin was 14.3%, compared with 19.2% in the third quarter of 2016 and 19.0% in the fourth quarter of 2015.
Income from operations was RMB77.9 million ($11.2 million), compared with RMB433.3 million in the third quarter of 2016 and RMB465.9 million in the fourth quarter of 2015.
Net income attributable to the company's ordinary shareholders from continuing operations was RMB145.8 million ($21.0 million) in the fourth quarter of 2016, compared with RMB212.2 million in the third quarter of 2016 and RMB429.7 million in the fourth quarter of 2015.
Net income attributable to the company's ordinary shareholders from continuing and discontinued operations was RMB999.6 million ($144.0 million), compared with RMB233.7 million in the third quarter of 2016 and RMB349.4 million in the fourth quarter of 2015.
Diluted earnings per American depositary share ("ADS") from continuing operations were RMB4.56 ($0.64).
Total diluted earnings per ADS from continuing and discontinued operations were RMB31.28 ($4.48), compared with RMB6.04 in the third quarter of 2016 and RMB10.88 in the fourth quarter of 2015.
Non-GAAP net income attributable to the company's ordinary shareholders from continuing operations in the fourth quarter of 2016 was RMB228.6 million ($32.9 million), compared with RMB235.3 million in the third quarter of 2016 and RMB538.9 million in the fourth quarter of 2015.
Non-GAAP basic and diluted earnings per ADS from continuing operations were RMB7.24 ($1.04) and RMB7.16 ($1.04), respectively, in the fourth quarter of 2016.
Full year 2016 highlights
Total revenues for the full year 2016 were RMB21.40 billion ($3.08 billion), an increase of 38.5% from RMB15.45 billion for the full year 2015. Total revenues including electricity revenue from discontinued operations were RMB22.35 billion ($3.22 billion), an increase of 39.0% from RMB16.08 billion for the full year 2015.
Gross margin was 18.1% for the full year 2016, compared with 19.0% for the full year 2015.
Income from operations was RMB1.35 billion ($194.3 million), compared with RMB1.12 billion in the full year 2015.
Net income attribute to the company's ordinary shareholders from continuing operations was RMB990.7 million ($142.7 million) for the full year 2016, compared with RMB766.6 million for the full year 2015.
Net income attributable to the company's ordinary shareholders from continuing and discontinued operation was RMB1.83 billion ($263.1 million) for the full year 2016, compared with RMB683.8 million for the full year 2015.
Diluted earnings per ADS from continuing operations for the full year 2016 were RMB29.04 ($4.20), compared with RMB24.00 for the full year 2015.
Total diluted earnings per ADS from continuing and discontinued operations for the full year 2016 were RMB53.40 ($7.72), compared with RMB21.36 for the full year 2015.
Non-GAAP net income attributable to the company's ordinary shareholders from continuing operations for the full year 2016 was RMB1.25 billion ($179.4 million), compared with RMB1.06 billion for the full year 2015.
Non-GAAP basic and diluted earnings per ADS from continuing operations for the full year 2016 were RMB39.60 ($5.72) and RMB36.28 ($5.24), respectively. ■