Jinko Solar: Massive Shipments, Mounting Losses

Chinese solar panel manufacturing juggernaut Jinko Solar recently blasted past another significant milestone for shipments, and claimed another world first. But it’s not all sunshine and puppies for the firm.

How Much Solar Panel Capacity Has Jinko Shipped?

JinkoSolar released its business highlights for the first half of 2025 last week, stating it was the first module manufacturer in the world to have delivered a total of 350 GW of panels.

Other cumulative shipment milestones on the road to this point:

• 300 GW: December 2024
• 200 GW: December 2023
• 100 GW: April 2022

Founded in 2006, Jinko Solar started manufacturing solar panels in 2009. It took 13 years to achieve the first 100 GW, around 1 year and 8 months for the next 100 GW and 1 year for the following 100. So, what are the chances of the firm shipping even more this year? It seems unlikely  — the company estimates its module shipments to be in the range of 85 GW to 100 GW in 2025.

As for production capacity, the company expects the following by the end of the year:

• Mono wafer: 120 GW
• Solar cells: 95 GW
• Solar panels: 130 GW

Other Business Highlights For H1 2025

• Total panels shipments were 41.8 GW, with more than 60% going to overseas markets.
• Mass-produced efficiency for TOPCon cells exceeded 26.5%, with the high-efficiency series reaching 27.1%.
• Over 20 GW of high-efficiency production capacity by the end of June.

Big Shipments, But Big Losses

Competition between China’s major solar panel manufacturers has been intense, and the problem with a race to the bottom in terms of pricing is you might win. While racking up huge shipments, the company’s losses are also mounting.

JinkoSolar Co., Ltd’s  unaudited consolidated financial results as of and for the six months ended June 30, 2025 were also published last week. Its operating revenue dropped from RMB 47.25 billion in the first half of 2024 to RMB 31.83 billion in the first half of this year, with a loss before tax of RMB 4.21 billion compared to a profit of RMB 1.65 billion in the first half of 2024.

Chinese Government Intervention

Chinese authorities have been pressuring big players to slash production in order to end the price wars. According to China Daily, at a meeting on July 3 chaired by Minister of Industry and Information Technology Li Lecheng and attended by representatives from Jinko and other major firms, a three-pronged strategy was announced:

• A crackdown on cutthroat pricing practices.
• Quality enhancement initiatives.
• Accelerated phase-out of obsolete production capacity.

(Good) Solar Panels Still As Cheap As Chips

Action from Chinese authorities doesn’t mean we’ll see solar panel prices skyrocketing in Australia anytime soon. Budget-friendly panels, such as those produced by Jinko, can cost as little as $125 (retail) for a 440W module at the moment.

To see how popular brands stack up against each other on pricing and specifications, check out the SolarQuotes solar panel comparison table.

Jinko entered the Australian market back in back in 2012 and its panels have been a popular choice for home solar installations. Jinko Solar panel reviews here on SolarQuotes from Australian customers have averaged 4.8 stars from more than 4,000 ratings overall. And in a sign the company appears to be maintaining decent quality at a low pricing point, 4.9 stars over the last 12 months (751 ratings).

We really are spoiled for choice in Australia when it comes to solar panels, both in terms of range and pricing. But there are tricks and traps to avoid. For example, because Jinko panels are so cheap, they are sometimes used by shonky installers — as are other good budget brands. And it doesn’t matter how good or expensive solar gear is, it can be wrecked by lousy installation.

Learn more about selecting the right solar panels for your home and how to choose a good solar installer.