JinkoSolar Expects a Strong Growth Year as Q3 Records High Sales Profit


The forecast-beating third-quarter results of JinkoSolar could secure its No.1 position in 2023 and continue this leadership into 2024. Demand for its real-world proven higher-performance N-type TOPCon panels, JinkoSolar is expected to lead the N-type mainstream in 2024.

For the year ahead, one of the world's largest solar module manufacturers predicted stronger and healthy growth and a drop in DG inventory levels. “We can expect 2024 to be a stronger and healthy growth year for JinkoSolar,” said Dany Qian, VP of JinkoSolar, with the company expecting to “do better than the overall industry” next year.

“In these couple of weeks, we have started to see price stabilize in upper steam which will transmit to the end market” and DG inventory controls have become “healthier than we thought”.

“Right now, we could see the bottom of price,” Dany said, as there could be a new bottleneck across the supply chain as the capacity of N-type could jump from 120GW this year to 600GW in 2024 because of strong demand and supply of N-type.

Analysts have watched for signs to gauge the price stabilization across the supply chain, citing caution in a new bottleneck in N-type materials as the TOPcon mainstream era arrives much much sooner than expected.

Shipments from the high-performance N-type TOPCon segment accounted for 55% of its total shipments. Dany attributed the DG segment's booming to the “very strong” demand from DG markets. She said the expected demand to rise next year, as P-type and other high-cost counterparts have been least considered.

“The recent surge in N-type demand supports our already strong conviction that demand for energy-efficient TOPCon will accelerate,” Dany said, adding the company has received strong customer interest in its 605Wp 72-cell version, which will be its most energy efficient.

As the leading solar manufacturer, JinkoSolar must navigate an uncertain industry outlook. Despite that JinkoSolar hits new record high efficiency of 26.89% of N-type TOPCon cutting-edge technology, Dany said the greatest challenge would be cost, as inflation drives up the price of some bottleneck materials.