JinkoEnergy (688223.SH) achieved a major breakthrough in net profit of 1.2 billion yuan in the first half of the year, and the conversion efficiency reached 33.24%

According to Zhitong Finance App News, Jingke Energy (688223.SH) released its 2024 semi-annual report. During the reporting period, the company achieved operating income of 47.251 billion yuan; net profit attributable to shareholders of listed companies of 1.2 billion yuan; net profit attributable to shareholders of listed companies deducted 217 million yuan for non-recurring profit and loss; and basic earnings per share of 0.12 yuan/share.

In the first half of 2024, fierce competition in the industry put pressure on the profits of all aspects of PV module integration. With advantages such as leading N-type technology and comprehensive global layout, the company showed greater operational resilience than its peers during the downward cycle of the industry, and achieved relatively better performance.

As of the end of the reporting period, the total assets of the company were 124.528 billion yuan, and the net assets attributable to shareholders of listed companies were 33.415 billion yuan. The balance ratio decreased by 0.83 percentage points from the end of the previous period. During the reporting period, the company's N-type TopCon high-efficiency components accounted for more than 80% of component sales. With their cost-effective advantages, they were welcomed in the global market and enjoyed a certain premium. In the first half of 2024, Jinko Energy sold a total of about 43.8 GW of photovoltaic module products to the world, including about 35.9 GW of N-type modules, and the sales scale was at the leading level in the world. At the same time, the company actively responds to price fluctuations in the supply chain and policy changes in the international market to achieve leading shipments in overseas high-premium markets.

In the third quarter of 2024, the company's component shipments are expected to be 23-25 GW. Looking at the whole year, as prices in the industrial chain stabilized in the second half of the year and demand recovered seasonally in the second half of the year, the company is confident that it will maintain sustainable operating performance by balancing shipments and profits in different regions while completing the annual shipping guidelines.

During the reporting period, the company's n-type Topcon technology had a stable advantage in terms of product performance. The company has been awarded the “Best Performance” award on the PVEL PV Module Reliability Scorecard for ten consecutive years. In PVTech's latest quarterly 2024q2ModuleTech financability rating report, the company once again won the highest “AAA” rating, and is also the only leading integrated component company in the industry that continuously maintains the “AAA” rating. In addition, in the evaluation hosted by the CGC of the Jianheng Certification Center, the company's product Tigerneon-Typejkm570N-72HL4-BDV model module. After more than 3 months of extreme low temperature and actual wind load and snow load tests, the component safety, electrical performance, and mechanical properties maintained high efficiency operation, and won the “Best Double Glass Module” winning award. As of the release date of the report, the cumulative shipment of the company's N-type component products has exceeded 100 GW. With stable performance, it has brought excellent power generation benefits to customers and won wide trust from customers around the world.

During the reporting period, while achieving continued leadership in N-type TopCon technology, the company also actively laid out medium- to long-term technology efficiency improvement plans for the future. Among them, the company made a major breakthrough in perovskite laminated battery research and development based on N-type TopCon. According to testing by the Shanghai Institute of Microsystems and Information Technology of the Chinese Academy of Sciences, its conversion efficiency reached 33.24%, greatly improving the maximum conversion efficiency of similar laminated batteries the company previously maintained, and further expanded the space for N-type TopCon to upgrade technology to the next generation of batteries.