Jinko Solar Co., Ltd.(688223.SH), one of the world’s largest and most innovative solar module manufacturers, released it annual report 2022 on 28 April 2023, that it achieved an operating revenue of RMB82.676 billion, an increase of 103.79% year-on-year, its net profit attributable to the parent company of RMB2.646 billion, an increase of 398.60% year on year, and basic earnings per share of RMB0.30 per share, an increase of 114.29% year on year. The Company intends to pay a cash dividend of RMB0.89 per 10 shares (including tax) to all shareholders.
In 2022, Jinko Solar’s PV product shipments reached 46.39 GW globally, of which 44.33 GW were PV modules, with cumulative shipments exceeding 130 GW. It is worth noting that during the reporting period, a total of 35 GW of large-scale n-type TOPCon cell was reached production and started shipments in the second half of 2022 with shipment of 10.7 GW, making Jinko Soalr the first module manufacturer in the world to ship more than 10 GW.
By the end of 2022, the power conversion efficiency of Jinko Solar’s n-type TOPCon cells reached 25.1% in mass production, while the cell yield was equal to that of PERC cells. The power of the n-type module with 72-cell reached 575W, which is 20-25W higher than that of p-type modules, an increase of more than 4.5%.
At the same time, Jinko Solar continued to make breakthroughs in the development of its n-type TOPCon cell technology. In December 2022, the company’s 182mm and larger n-type TOPCon cells achieved a conversion efficiency of 26.4%, as certified by the testing laboratory of the Chinese Academy of Metrology. In November 2022, the highest conversion efficiency of its 182mm large size n-type TOPCon cell modules reached 23.86%, as verified by TÜV Rheinland’s laboratory. And Jinko Solar plans to increase the power conversion efficiency of n-type cells to 25.8% by the end of 2023, and the integration cost of n-type modules will be lower than that of p-type modules.
Jinko Solar is also expanding its global channels. By the end of 2022, the company had established 14 manufacturing facilities in China, Malaysia, Vietnam and the United States, employing more than 46,000 people worldwide and serving more than 3,000 customers in more than 160 countries and regions around the world.
In 2022, Jinko Solar’s annual effective production capacity of wafer, cell and module were 65GW, 55GW and 70GW respectively, and its overseas vertically integrated wafer, cell and module production bases had a production capacity of 7GW, making it a leader in the industry.
According to Jinko Solar’s plan, wafer, cell and module production capacity is expected to reach 75GW, 75GW and 90GW respectively by the end of 2023, of which more than 70% will be n-type TOPCon cells.
Jinko Solar has set a shipment target of 60-70GW in 2023, of which n-type will account for more than 60%, and will continue to leverage its technology and product advantage in n-type TopCon to expand its market share. In addition, Jinko Solar will continue to improve “PV+” application, innovate PV system solutions for various scenarios, and strengthen in-depth layout in energy storage, BIPV and related fields.
