JinkoSolar Holding Co., Ltd. (JKS) Earnings Call Transcripts

JinkoSolar Holding Co., Ltd.'s Latest Earnings Call - Q4 FY2025

In the fourth quarter of 2025, JinkoSolar reported total revenue of $2.5 billion, reflecting an 8.3% sequential increase but a 15% decline year-over-year. The company experienced a net loss for the full year due to declining average selling prices and rising raw material costs. Management expects module shipments to be between 75 gigawatts and 85 gigawatts for the full year 2026, signaling a cautious outlook amid a challenging market environment, although they anticipate a rebound in module prices and growth in their energy storage segment.

Reported metrics

Guidance from management

For 2026, JinkoSolar expects module shipments between 75 gigawatts and 85 gigawatts and anticipates a stable pricing environment for modules, with a focus on high-efficiency products.

What management said

Yes, I think we're not in a position to disclose detailed in ASP for looking. But if you look at the market price, I think you're right, it's kind of the price level depending on different products and different ratings. It's roughly in the range of, I think, 11.5% or maybe 14, depending on different markets, different products in different regions.

Yes, I think -- so back to your question, I think if nothing changed, we expect the Q4 margin should be stable or maybe a little bit higher in the fourth quarter. But fourth quarter, there's some headwinds. And just -- you are talking about it's -- if we look at the magnitude, the first one will definitely the commodities, particularly the silver. And I think the price -- the market price is sold. It's up 250% to 300...

What analysts pressed on

Analysts expressed concerns regarding the impact of rising raw material costs on margins and the overall market demand outlook for 2026. There were also questions about the company's ability to maintain its market share amid increasing competition.

Main topics on the call

• Revenue and Shipments — JinkoSolar achieved total module shipments of 26 gigawatts in Q4 2025, with full-year shipments at 86 gigawatts. CEO Xiande Li noted, "We maintained disciplined operations and our technological leadership continuously dr...
• Gross Margin Decline — The gross margin for Q4 2025 decreased to 0.3% from 7.3% in Q3, attributed to rising costs of raw materials like polysilicon and silver. CFO Pan Li stated, "The sequential decrease was mainly due to a higher revenue cost...
• Energy Storage Growth — JinkoSolar's energy storage business saw significant growth, with shipments reaching 5.2 gigawatt-hours in 2025. Management indicated that this segment is expected to "more than double ESS shipments in 2026," enhancing p...
• Module Price Stabilization — Management expects module prices to stabilize in 2026, driven by improved supply-demand dynamics. They noted, "Module prices are expected to remain relatively stable with high efficiency and differentiated products conti...

Read the full JinkoSolar Holding Co., Ltd. transcript (Q4 FY2025) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 26 JinkoSolar Holding Co., Ltd. earnings call transcripts on record, spanning March 13, 2020 to April 29, 2026. Based on this history, JinkoSolar Holding Co., Ltd. reports quarterly. The most recent call on file is dated April 29, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

JKS

Exchange

NYSE

Country

US

Sector

Information Technology

Industry

Semiconductors and Semiconductor Equipment

Calls on record

26

First call

March 13, 2020

Most recent

April 29, 2026

Reporting cadence

quarterly