JinkoSolar Releases Q4 And Full Year 2021 Results

JinkoSolar 2021 results

Solar panel manufacturer JinkoSolar is very pleased with its results for what the company described as a very challenging year.

In terms of the final quarter of last year, the company’s shipments reached 9,024 MW for solar panels and 669 MW for cells and wafers. Jinko says its total shipments (9,693 MW) were up 94.1% sequentially and up 67.9% year over year. The company’s total annual shipments hit 25,242 MW, with solar panels accounting for 22,233 MW – up 18.4% year over year for modules.

That represents a heck of a lot of modules – numbers weren’t provided by the company, but based on 410 watt solar panels it would work out to more than 54.2 million. But Jinko cranks out much more powerful panels these days, up to 620 watts capacity.

Commenting on the company’s results, JinkoSolar Chairman and CEO Xiande Li said:

“We were very pleased to close a very challenging year of 2021 with excellent results. We were able to swiftly respond to supply chain volatility and logistic challenges thanks to our competitive advantages in supply chain management and global network.”

Mr. Li noted in the fourth quarter of 2021, Jinko’s gross profit doubled, operating profit quadrupled and non-GAAP net profit increased by approximately 13 times sequentially. Total revenues for the full year of 2021 were RMB40.83 billion (US$6.41 billion), up 16.2% from RMB35.13 billion for 2020.

The company closed out the year with annual mono wafer production capacity of 32.5 GW, 24 GW for solar cells (940 MW of that N-type cell capacity) and 45 GW solar panel manufacturing capacity.

2022 Outlook

For the first quarter of this year, Jinko expects its total shipments (solar modules, cells and wafers) to be in the range of 7.5 GW to 8 GW, and for the full year in the range of 35 GW to 40 GW.

JinkoSolar expects its annual mono wafer, solar cell and solar panel production capacity to reach 50 GW, 40 GW (including 16.9 GW N-type cells) and 60 GW respectively by the end of 2022.

Among the new capacity already brought online this year is a 7GW monocrystalline silicon wafer plant in Vietnam. The company says it also has roughly 16 GW of N-type cell capacity operational in the first quarter of 2022 and is steadily ramping up production.

Jinko’s full fourth quarter and full year 2021 results can be viewed here.

In other recent news from the company, earlier this month it announced the first Tiger Neo 470 watt panels have arrived in Australia.

“Tiger Neo will complement the existing range of Tiger N type panels widely used in Australia since JinkoSolar first started breaking N type records in 2019,” stated the company.

You can see specifications and estimated pricing of the Tiger Neo range – and compare them to a bunch of other models from Jinko and other brands – using the SolarQuotes solar panel comparison table.

Jinko’s products are generally more towards the budget end of the module pricing spectrum, but are of good quality and the company is currently an SQ-approved brand. Jinko solar panel reviews here on SolarQuotes from Australian customers have averaged 4.7 stars overall from 1,663 ratings at the time of publishing, and 4.9 stars over the last 12 months.

In the SolarQuotes 2022 Installers’ Choice Awards, Jinko scored second place in the best value solar panel category.

About Michael Bloch

Michael caught the solar power bug after purchasing components to cobble together a small off-grid PV system in 2008. He's been reporting on Australian and international solar energy news ever since.

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