SHANGHAI, March 17, 2020 /PRNewswire/ -- JinkoSolar, the world's largest solar module producer, said last Friday that its deliveries for 2020 will grow more than 35 percent from a year earlier in 2019. In its latest earnings results, it showed shipments, revenue and gross profit for Q4 2019, were 4,538 MW, US$1.37 billion, and US$248.5mn respectively, the highest quarterly level in the company's history.
For 2019, JinkoSolar said, the company benefited from ramping up wafer capacity, improving cost structure, and stable ASP. It hit a record full-year shipments of 14.3GW, up 25.6% YoY, with revenues of US$4.27bn for 2019, up 18.8% YoY. The gross margin climbed from 14.0% to 18.3%.
It is expected JinkoSolar's advanced TR process, the technology applied in its latest model Tiger 475Wp which has begun mass production, will continue to make a big contribution to the company's sales after the success of its Cheetah. In addition, JinkoSolar is scheduled to launch a pilot production of the more powerful and sophisticated process beyond 500Wp later this year.
Due to increasing uncertainty caused by COVID-19, the global solar PV industry is estimated to see a mitigation and some drops in 2020, but JinkoSolar is expected to perform better and surpass the growth of the entire industry supported by strong backlogs.