SHA:688223

6 stories mentioning SHA:688223

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Market Chatter: Chinese Solar Panel Giants Struggling to Make Ends Meet on Oversupply Woes

The top lines of Chinese solar panel giants struggled in the first quarter as they face overcapacity and subsidy-fueled exports, Nikkei Asia reported Tuesday.Jinko Solar's (SHA:688223) revenue slipped 12% year over year to 12.2 billion yuan in the first quarter, while LONGi Green Energy Technology (SHA:601012) registered a negative profit margin after costs exceeded revenue, the report said.Jinko and Trina Solar (SHA:688599) eked out gross profits, but they were not enough to offset fixed costs, the report said.Overcapacity has also driven a plunge in prices, with the prices of panels falling 60% from their peak in 2021, Nikkei said, citing research firm CEIC.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

SHA:601012SHA:688223SHA:688599

Asia10d ago

Market Chatter: China Solar Panel Makers Seek Foray into Storage Systems Amid Lower Photovoltaic Sales

China's top solar panel makers are scrambling to diversify into battery storage expansion as photovoltaic installations slow, Reuters reported Thursday, citing company executives.For instance, Jinko Solar (SHA:688223) is looking to grow its battery manufacturing capacity to up to 14 gigawatt-hours from 5 gigawatt-hours, Reuters said, citing regional technical head for energy storage systems Titus Koech.JA Solar Technology's (SHE:002459) battery products were on display at its booth during the SNEC photovoltaic conference, marking a shift from its usual solar energy demonstrations, the report said.LONGi Green Energy Technology (SHA:601012) advertised its solar-plus-storage integration on the conference's screen, the report said.For a Trina Solar (SHA:688599) executive, the integration is the "second growth curve" following solar energy, Reuters said.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Shanghai Composite^SZSESHA:601012SHA:688223SHA:688599SHE:002459

Asia10d ago

Market Chatter: China Solar Giants Pivot to Battery Storage

Facing weaker domestic installations, slowing exports, and record-low prices, China's top solar panel makers are rushing into battery storage, Reuters reported Friday.Jinko Solar (SHA:688223) plans to boost storage capacity to up to 14 gigawatt-hours by year-end from 5 gigawatt-hours, according to the report.JA Solar (SHE:002459) showcased storage products at the International Photovoltaic Power Generation and Smart Energy Conference & Exhibition, marking a shift from pure photovoltaic displays, Reuters wrote.Trina Solar's (SHA:688599) storage shipments more than quadrupled year on year in the first quarter, according to the report.Executives see storage as "the second growth curve" as global demand for renewables storage surges, Reuters wrote.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Shanghai Composite^SZSESHA:688223SHA:688599SHE:002459

Asia11d ago

Market Chatter: Jinko to Build Power Source for 24.5 Billion Yuan Data Center

Jinko Solar (SHA:688223) agreed to supply power to a Chinese local government's 24.5 billion yuan data center in the Ningxia Hui Autonomous Region, Nikkei Asia reported Thursday.The solar manufacturer signed a deal with Zhongwei's authorities to operate power plants installed with its solar panels for the data center, according to the media outlet.The data center, which will have a capacity of 1 gigawatt, is expected to start construction this year and be completed in 2028, the report said.Jinko is yet to respond to' request for comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

SHA:688223

Asia13d ago

Jinko Solar Completes US Factory Stake Sale

Jinko Solar (SHA:688223) completed the sale of a 75.1% stake in its U.S. factory subsidiary to FH JKV for $191.5 million.The solar panel maker retains a 24.9% stake, and the factory will no longer be consolidated into its financial statements as of June 1, according to a Tuesday filing with the bourse.Shares of the company were down 4% in recent trade.

SHA:688223

Asia45d ago

Jinko Solar Narrows Q1 Loss, Revenue Declines 12%

Jinko Solar (SHA:688223) posted first-quarter net loss attributable to shareholders of 1.35 billion yuan, compared with 1.39 billion yuan the previous year.Loss per share narrowed slightly to 0.13 yuan from 0.14 yuan, according to a Thursday filing with the Shanghai bourse.The solar panel maker's operating revenue fell 12% year over year to 12.2 billion yuan from 13.8 billion yuan.

SHA:688223