JinkoSolar Holding Co. (NYSE:JKS) took a sharp trip south Monday on the release of quarterly financial numbers.
The Shanghai-based company, one of the largest and most innovative solar module manufacturers in the world, today announced.
Total revenues were RMB8.48 billion ($1.20 billion U.S.). Excluding the impact from the disposal of the two solar power plants in Mexico, revenues were RMB7.29 billion ($1.03 billion U.S.) and within JinkoSolar's guidance range of $1.00 billion U.S. to $1.08 billion U.S.; a decrease of 23.5% from the fourth quarter of 2019 and an increase of 25.1% from the first quarter of 2019.
Gross margin was 19.5%. Excluding the impact from the disposal of two solar power plants in Mexico, gross margin was 19.7%, within JinkoSolar's guidance range of 19.0% to 21.0%, compared with 18.2% in the fourth quarter of 2019 and 16.6% in the first quarter of 2019.
Income from operations was RMB732.7 million ($103.5 million U.S.).
Excluding the impact from the disposal of two solar power plants in Mexico, income from operations was RMB519.5 million ($73.4 million U.S.), compared with RMB594.8 million in the fourth quarter of 2019 and RMB235.7 million in the first quarter of 2019.
Net income attributable to the Company's ordinary shareholders was RMB282.4 million ($39.9 million U.S.) in the first quarter of 2020, compared with RMB369.5 million in the fourth quarter of 2019 and RMB40.2 million in the first quarter of 2019.
JKS began Monday down $1.39, or 7.8%, to $16.48.
Related Stories
