JinkoSolar Subsidiary Reports 29.2% Revenue Drop and 6.79 Billion Yuan Loss
JinkoSolar's majority-owned subsidiary Jiangxi Jinko reported 2025 preliminary revenues of 65.49 billion yuan, a 29.2% year-over-year decline, and swung to a 6.79 billion yuan net loss from a 98.9 million yuan profit a year earlier. Excluding non-recurring items, the loss widened to 7.64 billion yuan, driving its shares lower.
1. Preliminary 2025 Subsidiary Results
Jiangxi Jinko reported unaudited preliminary revenue of 65.49 billion yuan for 2025, down 29.18% from 92.47 billion yuan in 2024. The subsidiary swung to a net loss of 6.79 billion yuan compared to a 98.9 million yuan profit a year earlier, excluding non-recurring items widening the loss to 7.64 billion yuan.
2. Operating Loss and Equity Contraction
Falling photovoltaic product prices drove operating losses of 9.11 billion yuan, reversing an operating profit of 792.96 million yuan in 2024. Total equity attributable to the parent contracted by 21.19%, from 32.31 billion yuan to 25.46 billion yuan, reflecting the subsidiary’s performance impact on JinkoSolar’s balance sheet.
3. Stock Technical Indicators and Price Reaction
JinkoSolar shares fell over 4% following the preliminary results release, trading below its 20-day, 50-day and 100-day moving averages while remaining above the 200-day average. This mixed technical positioning suggests uncertain momentum among investors in the near term.
4. Upcoming Financial Update and Analyst Estimates
JinkoSolar will publish its next quarterly report on March 25, 2026, with analysts forecasting an adjusted EPS loss of $0.62 and revenue of $2.79 billion for the upcoming period. The stock holds a Hold consensus rating with an average price target of $28.62 from the analyst community.