JinkoSolar reports 21.6% revenue decline YoY for Q2 2024
POWER & RENEWABLE ENERGY

JinkoSolar reports 21.6% revenue decline YoY for Q2 2024

JinkoSolar, a leading global solar module manufacturer, has announced a 21.6% drop in revenue for the second quarter of 2024 compared to the same period last year. The company's revenue fell to $2.1 billion in Q2 2024, down from $2.68 billion in Q2 2023.

The decline in revenue has been attributed to a combination of factors, including decreased module prices and lower demand in key markets. Despite this downturn, JinkoSolar remains optimistic about future prospects, citing ongoing investments in research and development and expansion into new markets as strategies to counterbalance current challenges.

In addition to the revenue drop, JinkoSolar's gross profit margin also experienced a significant contraction, reflecting the ongoing pressure in the competitive solar industry. The company has announced plans to streamline its operations and enhance efficiency to improve profitability in the coming quarters.

Looking ahead, JinkoSolar is focused on leveraging its technological advancements and scaling up production capacity to maintain its position in the market. The company believes that strategic adjustments and innovation will help navigate the current market volatility and drive long-term growth.

JinkoSolar, a leading global solar module manufacturer, has announced a 21.6% drop in revenue for the second quarter of 2024 compared to the same period last year. The company's revenue fell to $2.1 billion in Q2 2024, down from $2.68 billion in Q2 2023. The decline in revenue has been attributed to a combination of factors, including decreased module prices and lower demand in key markets. Despite this downturn, JinkoSolar remains optimistic about future prospects, citing ongoing investments in research and development and expansion into new markets as strategies to counterbalance current challenges. In addition to the revenue drop, JinkoSolar's gross profit margin also experienced a significant contraction, reflecting the ongoing pressure in the competitive solar industry. The company has announced plans to streamline its operations and enhance efficiency to improve profitability in the coming quarters. Looking ahead, JinkoSolar is focused on leveraging its technological advancements and scaling up production capacity to maintain its position in the market. The company believes that strategic adjustments and innovation will help navigate the current market volatility and drive long-term growth.

Next Story
Resources

Ajmera Realty launches tree drive on Environment Day

Ajmera Realty & Infra India marked World Environment Day with a large-scale tree plantation initiative—Plant-with-Purpose—across its projects in Mumbai and Bangalore. The drive was inaugurated at Ajmera Manhattan and Ajmera Greenfinity in Wadala, with senior company officials and residents in attendance. The campaign encourages residents to embrace eco-conscious, self-reliant lifestyles by growing useful plants and trees within their communities. Horticulture expert Devendra Bhekar guided residents on creating and maintaining green spaces. Ajmera Realty planted over 500 trees..

Next Story
Resources

Twaron®-reinforced tyre powers Brunel’s solar race car

Teijin Aramid’s Twaron® with circular content will debut in Bridgestone’s race tyres for the 2025 Bridgestone World Solar Challenge, supporting the Brunel Solar Team’s Nuna 13 car. This marks the first use of the recycled-content aramid in a high-performance race tyre. The Twaron®-reinforced belts help enhance durability, reduce rolling resistance, and maintain lightweight strength—critical for the 3,000-km solar race across Australia. Bridgestone combines this with ENLITENTM tech and other recycled inputs to maximise environmental and performance outcomes. Teijin Aramid, a..

Next Story
Building Material

Kamdhenu Paints launches new wood coating range

Kamdhenu Paints has launched a comprehensive premium wood coating range designed for both interior and exterior applications. The collection includes high-performance solutions like Kamwood 2K PU for a rich matt or high-gloss finish, Kamwood 1K PU for clarity and stain protection, and the Kamwood Melamyne system for a smooth, durable finish. Also featured are Kamwood Wood Stains, which enhance wood grains with vibrant colour, and NC Sanding Sealer for high-build grain filling. The range is supported by Kamwood Thinners for ease of application and optimal finish. Saurabh Agarwal, MD, ..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?