Overview
- Third-quarter adjusted EPS came in at $-1.00 versus a $-1.60 consensus, while revenue of $2.27 billion missed the $2.51 billion estimate.
- Gross margin improved to 7.3% from 2.9% in the prior quarter as shipments fell 16.7% year over year to 21,570 MW and revenue declined 34.1% to 16.16 billion yuan.
- Shares traded up about 16% to $31.43 in midday action following the results.
- Energy storage shipments exceeded 3.3 GWh with 2025 order visibility above 90%, and management expects the segment to contribute to profit in 2026.
- JinkoSolar completed the sale of 300,156,075 A shares of Jiangxi Jinko in September and guided shipments to 18–33 GW for Q4 and 85–100 GW for full-year 2025, including about 6 GWh of ESS.