Chinese PV Industry Brief: JinkoSolar, Arctech unveil 2023 earnings forecasts

JinkoSolar says it expects a 2023 net profit ranging between CNY 7.25 billion ($1.02 billion) and CNY 7.95 billion, while Arctech Solar says it anticipates a full-year net profit of CNY 354 million.

Image: JinkoSolar

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JinkoSolar has released its 2023 earnings forecast, with expectations for a net profit of CNY 7.25 billion to CNY 7.95 billion for the full year, based on preliminary calculations. This would mark a year-on-year increase of 146.92% to 170.76%. It said it also expects a net profit of CNY 895.7 million to CNY 1,595 million for the fourth quarter, down slightly from the preceding three-month period. The company said it see rising demand for N-type products.

Arctech Solar said it expects a net profit of CNY 354 million for 2023, up sharply from the preceding year. It attributed its strong performance to robust demand in the global market for ground-mounted PV plants. As of Dec. 31, 2023, its outstanding orders stood at roughly CNY 4.7 billion, which includes CNY 3.6 billion of orders for tracking systems and CNY 1 billion for fixed racks.

Wanhua Chemical has partnered with FIRST and Trina Solar to set up a new joint venture, Yantai Wanxu New Materials Co. The companies aim to produce and operate polyolefin elastomer (POE) adhesive films for N-type module products. Wanhua Chemical plans to build 800,000 metric tons (MT) of POE capacity, managed by the joint venture. It said the goal is to establish reliable partnerships with downstream customers for consistent and stable POE product shipments.

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