JinkoSolar Holding Co., Ltd. (NYSE: JKS) saw its stock price surge 5.39% in pre-market trading on Wednesday, despite reporting a net loss for the fourth quarter of 2024. The company's resilient full-year performance and optimistic outlook for 2025 appear to have outweighed the near-term challenges, boosting investor confidence.

The solar module manufacturer reported a net loss of RMB 473.7 million (US$64.9 million) for Q4 2024, compared to a net income of RMB 22.5 million in Q3 2024. The quarterly revenue declined to RMB 20.65 billion (US$2.83 billion), down 15.7% sequentially and 37.1% year-over-year. Gross margin contracted significantly to 3.6% in Q4, compared with 15.7% in Q3 2024 and 12.5% in Q4 2023.

Despite the disappointing quarterly results, several factors likely contributed to the stock's positive movement: 1. Full-year resilience: For the full year 2024, JinkoSolar maintained profitability with a net income of RMB 57.5 million (US$7.9 million), though down 98.3% year-over-year. 2. Industry-leading shipments: Annual module shipments increased by 18.3% year-over-year to 92.9 GW, ranking first in the industry. 3. Technological advancements: By the end of Q4, the mass production efficiency of N-type TOPCon cells reached approximately 26.5%, with expectations to reach 27% by the end of 2025. 4. Optimistic 2025 outlook: The company expects module shipments to be between 85.0 GW and 100.0 GW for the full year 2025, signaling continued growth. 5. Industry stabilization: Recent policies and self-discipline measures in the solar industry are aimed at promoting high-quality development and reducing low-price competition, which could benefit established players like JinkoSolar.

JinkoSolar's Chairman and CEO, Xiande Li, commented on the results: "We delivered more resilient operating results in the challenging year of 2024, thanks to our leading position in N-type TOPCon technology and patent portfolio, competitive products, as well as global sales and manufacturing networks." He also noted that prices in the industry have stabilized and started to rebound after the Spring Festival, guided by industry self-discipline and supportive policies.

As the solar energy sector continues to grow globally, with the International Energy Agency projecting renewable energy to supply half of global electricity demand by 2030, JinkoSolar's strong market position and technological leadership could position it well for future growth, despite the current headwinds.