JinkoSolar said its net profit hit CNY 14.87 million ($2.09 million) in the third quarter of 2024, down 99.41% year on year , with revenue falling 22.09% to CNY 24.519 billion. Over the first nine months of the year, it posted total revenue of CNY 71.77 billion, down 15.66% year on year, and net profit of CNY 1.215 billion. It shipped 73.13 GW of PV products between January and September, including 67.65 GW of modules, with n-type modules making up about 85% of the total, up 31.29% year over year. In the fourth quarter, JinkoSolar said it is targeting full-year shipments of 90 GW to 100 GW.
JA Solar said it recorded a net loss of CNY 484 million in the first nine months of 2024, a sharp decline from a profit of CNY 6.765 billion during the same period last year. The company's PV module and cell shipments totaled approximately 57 GW across the first three quarters of the year, marking a year on year increase of more than 51%.
Huasun Energy said it has launched the first batch of heterojunction (HJT) solar cells from its Xuancheng Phase V 1 GW production facility. It reported that the new cells meet efficiency expectations, with mass production projected to soon reach 26.24%. It plans to refine key production processes, including advancements in textured surface treatments, double-sided microcrystalline applications, and ITO composite films. The company said it is also developing a specialized silver-copper paste for steel-nickel meshes, supporting its commitment to advancing zero busbar (0BB) technology.
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.
The Q3 results of the Big Four Chinese PV companies reflect the challenging market conditions in the solar industry. While companies like JA Solar and Longi are making strides in advanced technologies like n-type and HJT, the overall market downturn has impacted their bottom lines. JinkoSolar’s significant profit decline underscores the pressure on margins. As the industry navigates these headwinds, it will be crucial to monitor the impact of technological advancements, supply chain dynamics, and policy shifts on these companies’ future performance.