With China’s latest pandemic clampdown exacerbating existing costs for raw materials and shipping, big annual rises in solar cell and module shipments added up to a more than 91% fall in income from operations in just three months.
The Chinese giant, which had a $40 billion stock price yesterday, has announced it shipped 20 GW of solar panels by Monday.
Despite the challenges to both the manufacturing and shipment of its products during the period, JinkoSolar today reported that it shipped 3.4 GW of modules in the first quarter of 2020, bringing its revenue for the quarter just over the billion dollar mark.
The Chinese giant has argued its 166mm M6 product should be the new iteration used worldwide, even though larger products have been launched by rivals. Longi says the fact existing cell and module production lines can be adapted for the M6 means rising demand for solar worldwide can be swiftly satisfied.
The solar manufacturer today moved to reassure investors ahead of what promises to be another rocky set of first-half figures in two days’ time. The Hong Kong company says it wants to add another 3.6 GW of mono ingot and wafer capacity by early 2021.
The manufacturer says its Kwafoo product improves efficiency and, if used in the optimal p-type PERC type of panel, could boast a module output of 610 W.
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