JinkoSolar Holding Co., Ltd. (JKS) saw its shares tumble by 5.01% in Friday's intraday trading session, following the release of preliminary financial estimates for 2024 that pointed towards a significant decline in the company's profitability.
According to the estimates, JinkoSolar's majority-owned subsidiary, Jinko Solar Co., Ltd., reported a preliminary unaudited net income attributable to shareholders in the range of RMB80 million to RMB120 million for the full year ended December 31, 2024. This represents a staggering decrease of 98.39% to 98.92% compared to the previous year.
Furthermore, the company's preliminary unaudited net loss, excluding extraordinary gains and losses, is estimated to be in the range of RMB750 million to RMB1,050 million, reflecting a decline of 110.86% to 115.21% year-over-year.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.