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
Infrastructure Transport

Tata, Airbus to Build India’s First Private Helicopter Line

In a landmark development for India’s aerospace sector, Tata Advanced Systems Limited (TASL) and Airbus will establish the country’s first private-sector helicopter assembly line in Vemagal, Karnataka. The facility will manufacture the Airbus H125 and H125M, marking a significant milestone in India’s push for self-reliance in aviation and defence manufacturing. The new Final Assembly Line (FAL) will produce the H125, the world’s best-selling single-engine helicopter, known for its versatility and performance in extreme environments. The first ‘Made in India’ H125 is expected to ro..

Next Story
Infrastructure Urban

NeGD to Support Bharat Taxi in Building Cooperative Ride Platform

In a significant move for India’s digital and mobility transformation, the National e-Governance Division (NeGD) of the Digital India Corporation, under the Ministry of Electronics and Information Technology (MeitY), has entered into an advisory partnership with Sahakar Taxi Cooperative Limited, the company behind Bharat Taxi — a first-of-its-kind, cooperative-led national ride-hailing platform. A Memorandum of Understanding (MoU) has been signed between NeGD and Sahakar Taxi to provide strategic advisory and technical support covering key areas such as platform integration, cybersecurity..

Next Story
Technology

MeitY Hosts Pre-Summit for India–AI Impact Summit 2026

The Ministry of Electronics and Information Technology (MeitY), Government of India, hosted a series of Pre-Summit events for the upcoming India–AI Impact Summit 2026 at the India Mobile Congress (IMC) 2025 in New Delhi. These sessions mark a key milestone ahead of the main summit, scheduled for 19–20 February 2026 at Bharat Mandapam, New Delhi. Delivering the inaugural address, S. Krishnan, Secretary, MeitY, highlighted India’s innovative and frugal approach to AI development. “We have adopted innovative means by learning from others’ experiences to build projects and products that..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?