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 Urban

3i Infotech Reports Rs 7.25 Bn Revenue for FY25

3i Infotech, a leading provider of digital transformation, technology services and technology solutions, announced its consolidated financial results for the fourth quarter and full year FY25, ended on March 31st, 2025. The company maintained its growth momentum, displaying consistent progress for the 3rd consecutive quarter.In Q4 FY25, 3i Infotech reported revenue of Rs 1.87 billion, reflecting steady performance compared to Rs 1.81 billion in Q3 FY25 and Rs 1.97 billion in Q4 FY24. The company delivered strong profitability improvements, with gross margin growing by 14.8 per cent Q-o-Q and 1..

Next Story
Infrastructure Urban

Emerald Finance Joins Baya PTE to Boost SME Bill Discounting

Emerald Finance is a dynamic company offering a spectrum of financial products and services including its flagship Earned Wage Access (EWA) in India, has entered into a strategic partnership with Singapore-based Baya PTE through its Indian subsidiary. This collaboration aims to strengthen bill discounting services for Small and Medium Enterprises (SMEs), enabling faster access to working capital and improved cash flow management.The initiative is designed to support SMEs that supply to large corporates such as JSW Steel, Delhivery, and PVR INOX, among others. By facilitating timely invoice dis..

Next Story
Infrastructure Urban

BLS E-Services Crosses Rs 5 Bn Revenue Mark in FY25

BLS E-Services, a technology-enabled digital service provider, announced its audited consolidated financial results for the quarter and full year period ended 31 March 2025.Speaking about the performance and recent updates, Shikhar Aggarwal, Chairman, BLS E- Services said, “We are delighted to report a remarkable performance in FY25, as we achieved several milestones during the fiscal year. FY25 marked our highest-ever financial performance, as we surpassed Rs 5 billion milestone in Total Income during the year, which was reported at Rs 5.45 billion, a notable YoY growth of 76 per cent. The ..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?