JinkoSolar Faces Significant Losses Amid Industry-Wide Price Pressure

Investors in JinkoSolar are bracing for a challenging 2025 financial year. The solar giant's upcoming consolidated results, expected in March 2026, will reveal the full operational impact of severe margin compression across the sector. While the company continues to advance its high-efficiency module technology, preliminary figures from a key subsidiary point to substantial losses.

Jinko Solar Co., Ltd. (Jiangxi Jinko), a majority-owned subsidiary listed in Shanghai, has released unaudited preliminary estimates for the fiscal year ending December 31, 2025. The numbers are stark. Under local PRC GAAP accounting standards, the subsidiary anticipates a net loss attributable to shareholders ranging from 5.9 billion to 6.9 billion RMB. When adjusted for non-recurring items, this deficit could widen to approximately 7.8 billion RMB.

JinkoSolar holds a 55.6% stake in this entity, meaning its performance will significantly influence the parent company's consolidated balance sheet. The primary driver behind these figures is an intensely competitive pricing environment that has eroded profitability across the solar industry. Older P-Type product lines are experiencing particularly severe margin deterioration.

Technological Prowess Contrasts with Financial Strain

In response to these market headwinds, JinkoSolar's management is accelerating its technological shift. The strategic focus is now squarely on its high-efficiency N-Type TOPCon modules, specifically the "Tiger Neo 3.0" series. These panels have achieved a mass production conversion efficiency of 24.8%. Recent commercial activity, including a 56.89-megawatt supply agreement for projects in the United Kingdom, demonstrates sustained demand for these premium products.

Should investors sell immediately? Or is it worth buying JinkoSolar?

However, a critical question remains: can this technological edge sufficiently offset the weak margins plaguing the entire solar sector? The industry is locked in a fierce battle where economies of scale and vertical integration are becoming essential to manage volatility in both raw material costs and selling prices.

Market Reaction and the Path Forward

The financial markets are viewing these developments with caution. JinkoSolar's stock, currently trading around €22.70, has declined roughly 5% since the start of the year. Technical indicators suggest growing pessimism; the Relative Strength Index (RSI) sits at 31.7, nearing territory typically considered oversold.

All eyes are now on the comprehensive report scheduled for March 2026. That document will present the audited, consolidated fourth-quarter and full-year 2025 financial results under US GAAP standards. Only then will investors have a complete picture of how the subsidiary's multi-billion RMB losses have affected the JinkoSolar group's overall financial health.