A18.7% revenue growth recorded from JinkoSolar Holding Co. Ltd. (NYSE: JKS) in quarter closed in June 30, 2019

On Friday JinkoSolar Holding Co. Ltd. (NYSE: JKS), 2.42% in trading session and finally closed at $14.79. The firm after opening the first trading session at $14.50 Over the one year trading period, the stock has an above price of $24.84 and it’s below is recorded at $8.11. The company has a market cap of $635.53M. The company most recent volume stood at 400.01K shares as compared to its average volume of 807.36K shares.

JinkoSolar Holding Co. Ltd. (NYSE: JKS), recently reported its unaudited financial results for the second quarter ended June 30, 2019.

Total revenues in the second quarter of 2019 were RMB6.91B (US$1.01B), a raise of 18.7% from RMB5.82B in the first quarter of 2019 and a raise of 14.1% from RMB6.06B in the second quarter of 2018.

Gross profit in the second quarter of 2019 was RMB1.14B (US$166.6M), contrast with RMB964.3M in the first quarter of 2019 and RMB727.6M in the second quarter of 2018.

Income from operations in the second quarter of 2019 was RMB260.3M (US$37.9M), contrast with RMB235.7M in the first quarter of 2019 and RMB94.6M in the second quarter of 2018. Operating margin in the second quarter of 2019 was 3.8%, contrast with 4.0% in the first quarter of 2019 and 1.6% in the second quarter of 2018.

Total operating expenses in the second quarter of 2019 were RMB883.6M (US$128.7M), a raise of 21.3% from RMB728.6M in the first quarter of 2019 and a raise of 39.6% from RMB633.0M in the second quarter of 2018.

Net interest expense in the second quarter of 2019 was RMB116.8M (US$17.0M), an increase of 21.5% from RMB96.1M in the first quarter of 2019 and a raise of 44.8% from RMB80.6M in the second quarter of 2018.

The Company recorded a net exchange gain (including Change in fair value of foreign exchange derivatives) of RMB45.9M (US$6.7M) in the second quarter of 2019, contrast to a net exchange loss of RMB62.9M in the first quarter of 2019 and a net exchange gain of RMB20.8M in the second quarter of 2018.

The Company recorded a loss arising from change in fair value of interest rate swap of RMB46.1M (US$6.7M) in the second quarter of 2019, contrast to a loss of RMB30.2M in the first quarter of 2019.

The Company issued US$85.0M of 4.5% convertible senior notes due 2024 (the “Notes”) in May 2019 and has elected to measure the Notes at fair value. The Company recognized loss from a change in fair value of the Notes of RMB118.6M (US$17.3M) primarily Because of the increase in the stock price of the Company in the second quarter of 2019 and other comprehensive income resulted from a change in the instrument-specific credit risk of RMB 5.5mmm (US$ 0.8M).

The Company recorded equity in loss of associated companies of RMB28.6M (US$4.2M) in the second quarter of 2019, contrast with a loss of RMB23.7M in the first quarter of 2019 and an income of RMB28.0M in the second quarter of 2018.

The Company recorded an income tax benefit of RMB55.9M (US$8.1M) in the second quarter of 2019, contrast with an income tax benefit of RMB4.3M in the first quarter of 2019 and an income tax benefit of RMB10.0M in the second quarter of 2018.

Net income attributable to the Company’s ordinary shareholders was RMB125.4M (US$18.3M) in the second quarter of 2019, contrast with RMB40.2M in the first quarter of 2019 and RMB99.0M in the second quarter of 2018.

Non-GAAP net income attributable to the Company’s ordinary shareholders in the second quarter of 2019 was RMB202.9M (US$29.6M), contrast with RMB33.3M in the first quarter of 2019 and RMB106.7M in the second quarter of 2018.

As of June 30, 2019, the Company had RMB4.81B (US$701.1M) in cash and cash equivalents and restricted cash, contrast with RMB4.36B as of March 31, 2019.

As of June 30, 2019, the Company’s accounts receivables due from third parties were RMB4.94B (US$719.4M), contrast with RMB5.20B as of March 31, 2019.

As of June 30, 2019, the Company’s inventories were RMB6.63B (US$966.3M), contrast with RMB6.48B as of March 31, 2019.

As of June 30, 2019, the Company’s total interest-bearing debts were RMB13.34B (US$1.94B), of which RMB2.16B (US$314.0M) was related to the Company’s overseas downstream solar projects, contrast with RMB12.04B, of which RMB1.74B was related to the Company’s overseas downstream solar projects, as of March 31, 2019.

Alicia Gainey

Alicia Gainey–Technology and Energy My name is Alicia Gainey, and I am 31 years of age who is an industrialist rather than a writer. I need to grab the eye of my group of readers without sounding excessively dry and boring. I am that kind of individual who treasures his extra time by composing my contemplations and thoughts for my group of readers. My writing areas of interests are not kept to a particular field, I composed on numerous themes, however, technology and business articles are forever my top pick. I love to communicate through inventive modes, for example, drawing, singing, and composing. I love to invest my relaxation time with my adored cat, rest or by playing my preferred computer games.

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