JinkoSolar Subsidiary Posts 29% Revenue Decline and 6.8B Yuan Loss
Jiangxi Jinko, JinkoSolar’s 55.6%-owned subsidiary, reported preliminary 2025 revenue of 65.49 billion yuan, down 29.18% year-on-year, and a net loss of 6.79 billion yuan versus a 98.9 million yuan profit. Operating losses totaled 9.11 billion yuan, and JinkoSolar shares slid below their 20-day and 50-day moving averages.
1. Preliminary 2025 Financial Results
Jiangxi Jinko, the 55.59%-owned subsidiary of JinkoSolar, recorded full-year 2025 revenue of 65.49 billion yuan, a 29.18% decline from 92.47 billion yuan in 2024, and reported a net loss of 6.79 billion yuan compared to a 98.9 million yuan profit the prior year.
2. Operating Loss Drivers
Falling photovoltaic product prices drove the subsidiary’s operating loss of 9.11 billion yuan, reversing an operating profit of 792.96 million yuan in 2024 and reflecting margin pressure in a competitive solar market.
3. Equity and Parent Impact
Total equity attributable to JinkoSolar contracted by 21.19% to 25.46 billion yuan, reflecting the subsidiary’s performance and weighing on the parent company’s consolidated net assets given its 55.6% equity interest.
4. Technical Stock Position
JinkoSolar shares traded 6.4% below their 20-day SMA and 7.7% below their 50-day SMA, suggesting bearish short-term momentum despite positioning above the 200-day average.