Jinko Holdings Announces Third Quarter 2026 Financial Results
Jinko Holdings reported Q3 2026 revenue of RMB13.62 billion (US$2.03 billion), up 10.2% sequentially but down 15.7% year-over-year, with module shipments of 15,003 MW down 25% YoY. Profitability improved dramatically: gross margin rose to 12.3% from 4.2% in Q2 and 7.3% a year ago, and net loss attributable to shareholders narrowed to RMB170 million from RMB697.3 million sequentially and RMB749.8 million a year ago; adjusted net loss was just RMB7.9 million. Energy storage is scaling fast with 1.75 GWh of ESS shipments recognized as revenue in the quarter, matching full-year 2025, while Tiger Neo 3.0 modules exceeded 5 GW at a ~US$0.01/W premium.
Key figures
- Revenue
- 13620000000
- Guidance
- Q4 2026 module shipments 16.0-18.0 GW; FY2026 ESS shipments approximately 10 GWh on a proof-of-delivery basis
- Revenue Yoy
- -15.7%
- Cash rmb
- 15560000000
- Gross margin
- 12.3%
- Gross profit
- 1671000000
- Shipments yoy
- -25.0%
- Ess shipments gwh
- 1.75
- Module shipments mw
- 15003
- Tiger neo 3 shipments gw
- 5
- Interest bearing debt rmb
- 45150000000
- Investment portfolio fair value rmb
- 2050000000
AI analysis
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