Solar PV module manufacturing JinkoSolar reported a sizeable jump in its shipments and margins in 2018. The news was revealed in the company’s 2018 financial results, published March 22. For 2018 on a consolidated basis across its business, JinkoSolar posted a module shipment of 11.4GW in 2018 — a 16 percent increase from the previous year, marking the third consecutive year with ranking top in global delivery and a market share of 12.8%.
Despite a plummeted domestic demand hit by 531 policy, JinkoSolar was still seen successfully developing its business. Its profitability skyrocketed as a result of higher premium model production capacity and higher utility rate of it. JinkoSolar has begun mass production of its flagship Cheetah series last year, which mainly accounts for the increased profitability. Gross margin was 14.0% for the full year 2018, compared with 11.3% for the full year 2017. Income from operations and net income of 2018 achieved an increase of 98.2 % and 186.9% over 2017.
Looking ahead to 2019,given that the demand remains high, the visibility of order is very positive according to JinkoSolar.