Earnings Review - JinkoSolar Holding

LONDON, March 30, 2015 /PRNewswire/ --

Editor Note: For more information about this release, please scroll to bottom.

Investor-Edge.com has issued free briefing on JinkoSolar Holding Co. Ltd (NYSE: JKS). On March 02, 2015, the company reported its financial results for Q4 FY14 and full-year FY14 (period ended December 31, 2014). Click on http://get.Investor-Edge.com/pdf/?c=JinkoSolar%20Holding&d=30-Mar-2015&s=JKS to read our free earnings review on JinkoSolar Holding Co. Ltd. (JinkoSolar). For Q4 FY14 and FY14, the company's total revenues grew 35.8% Y-o-Y and 41.0% Y-o-Y, respectively. Further, JinkoSolar's total solar product shipments to the third parties increased 43.0% Y-o-Y in Q4 FY14 and 44.2% Y-o-Y in full-year FY14. CEO of JinkoSolar, Mr. Kangping Chen, stated that the company closed out the year on a very strong note. Our free coverage report can be accessed at:

http://get.Investor-Edge.com/pdf/?c=JinkoSolar%20Holding&d=30-Mar-2015&s=JKS

Earnings Overview 

During Q4 FY14, JinkoSolar's total revenues increased to RMB2.97 billion (US$478.9 million) from RMB2.19 billion in Q4 FY13. The company's Q4 FY14 total revenues trailed Bloomberg analysts' forecasts of RMB3.07 billion. JinkoSolar's total solar product shipments to the third parties improved to 838.2 megawatts (MW) in Q4 FY14 from 586.3 MW in Q4 FY13. Free research on JKS can be downloaded in PDF format at:

http://get.Investor-Edge.com/pdf/?c=JinkoSolar%20Holding&d=30-Mar-2015&s=JKS

For Q4 FY14, JinkoSolar's gross margin came in at 22.8%, compared to 24.7% in Q4 FY13. In Q4 FY14, GAAP net income attributable to JinkoSolar's ordinary shareholders was RMB244.71 million (US$39.4 million), or RMB 0.78 per diluted share, compared to RMB164.29 million, or RMB 1.47 per diluted share, in Q4 FY13. Analysts from Bloomberg had expected the company to report GAAP net income attributable to JinkoSolar's ordinary shareholders of RMB205.15 million, in Q4 FY14. The company's non-GAAP net income attributable to JinkoSolar's ordinary shareholder was RMB237.10 million (US$38.2 million), or RMB1.53 per diluted share, in Q4 FY14, compared to RMB228.62 million, or RMB2.04 per diluted share, in Q4 FY13. Furthermore, GAAP and non-GAAP diluted earnings per American depositary share (ADS) were RMB3.12 (US$0.52) and RMB6.12 (US$1.00), respectively, in Q4 FY14, compared to RMB5.88 and RMB8.16, respectively, in Q4 FY13.

In FY14, JinkoSolar's total revenues grew to RMB9.98 billion (US$1.61 billion) from RMB7.08 billion in FY13. The company's FY14 total revenues trailed Bloomberg analysts' forecasts of RMB10.16 billion. In FY14, JinkoSolar's total solar product shipments to the third parties increased to a record high of 2,787.1 MW, from 1,933.1 MW in FY13.

During FY14, JinkoSolar's gross margin stood at 22.4%, compared to 20.3% in FY13. GAAP net income attributable to JinkoSolar's ordinary shareholders was RMB673.02 million (US$108.5 million), or RMB3.86 per diluted share, in FY14, compared RMB188.01 million, or RMB1.96 per diluted share, in FY13. Analysts from Bloomberg had expected the company to report FY14 GAAP net income attributable to JinkoSolar's ordinary shareholders of RMB588.00 million. Non-GAAP net income attributable to JinkoSolar's ordinary shareholder was RMB800.25 million (US$129.0 million), or RMB5.20 per diluted share, in FY14, compared to RMB432.34 million, or RMB4.50 per diluted share, in FY13. Moreover, GAAP and non-GAAP diluted earnings per ADS was RMB15.44 (US$2.48) and RMB20.80 (US$3.36), respectively in FY14, compared to RMB7.84 and RMB18.00, respectively, in FY13. Sign up and read the free analyst's notes on JKS at:

http://get.Investor-Edge.com/pdf/?c=JinkoSolar%20Holding&d=30-Mar-2015&s=JKS

As of December 31, 2014, the company had RMB1.78 billion (US$286.40 million) in cash and cash equivalents, compared with RMB456.08 million of cash and cash equivalents as of December 31, 2013.

Mr. Chen asserted that JinkoSolar's rapidly growing downstream business, expanding geographic presence and industry-leading products will continue to support its growth as the company work towards its goal of transforming into a one-stop energy solutions provider. He added that JinkoSolar accomplished a lot in FY14 by leveraging its industry leading technology, global presence and deep relationships with financial institutions to grow it business further. He further stated that FY15 will be a more successful year for the company.

For Q1 FY15, JinkoSolar expects total solar module shipments to be in the range of 710 MW to 780 MW. The company also anticipates total solar module shipments to be in the range of 3.3 gigawatt (GW) and 3.8 GW for full-year FY15. Visit Investor-Edge and access the latest research on JKS at:

http://get.Investor-Edge.com/pdf/?c=JinkoSolar%20Holding&d=30-Mar-2015&s=JKS

Stock Performance  

On the day of the earnings release, March 02, 2015, JinkoSolar's stock ended the session at $22.81, up 4.20%. Since then, the stock has moved both ways with gains outperforming losses. On the last close, Friday, March 27, 2015, JinkoSolar's shares finished 2.21% higher at $26.39. The company's shares vacillated between $25.67 and $26.42 during the session. A total of 0.57 million shares were traded which was below their three months average volume of 1.13 million shares. Over the last one month and over the past three months, the company's shares have surged 20.56% and 34.57%, respectively. However, the stock has fallen by 6.72% in the past one year. Shares in JinkoSolar closed above their 50-day and 200-day moving averages of $21.56 and $24.35, respectively.

Sneak Peek to Corporate Insider Trading 

In the last one month JinkoSolar has not reported any share transactions by insiders to the U.S. Securities and Exchange Commission (SEC). Complimentary in-depth research on JKS is available at:

http://get.Investor-Edge.com/pdf/?c=JinkoSolar%20Holding&d=30-Mar-2015&s=JKS

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