JinkoSolar's net loss in 2025 is 6.786 billion yuan, with rapid growth in energy storage business

JinkoSolar announced on February 27th that for the year 2025, the company’s total operating revenue will be 65.492 billion yuan, a decrease of 29.18% compared to the same period last year; net profit attributable to the parent company will be -6.786 billion yuan.

Regarding the reasons for the performance change, JinkoSolar stated that during the reporting period, global photovoltaic industry chain prices experienced increased volatility, and profitability across all segments of the integrated photovoltaic module industry was generally under pressure. In response to industry fluctuations, the company maintained prudent operations and technological leadership, launching the industry-leading new generation “Feihu 3” high-efficiency module products, and continuously promoted capacity technological upgrades and transformations. Meanwhile, energy storage business achieved rapid growth, and the synergy between solar and storage showed significant results. However, during the reporting period, photovoltaic module prices remained low overall, and the shipment proportion of high-power products was still relatively low. Based on prudence, the company conducted impairment tests on long-term assets showing signs of impairment, and after careful evaluation, recognized asset impairment provisions according to enterprise accounting standards, which had a certain impact on performance, leading to an overall operating loss for the year.

Looking ahead to 2026, JinkoSolar believes that the industry will enter a high-quality development stage centered on technology and quality, with supply and demand relationships expected to accelerate rebalancing. The company will also strengthen its leading advantages in technological innovation and globalization efforts, striving to achieve high-quality development.