China PV News Snippets

In Q1/2023, JinkoSolar registers revenue of RMB 23.3 billion, while Ginglong's net profit rises by 121%, and China Three Gorges reports a revenue of RMB 6.85 billion.

JinkoSolar Q1/2023 net income at RMB 788.7 million: Reporting its quarterly performance, module supplier JinkoSolar said that its:

• Total revenue was at RMB 23.3 billion ($0.28 billion) a decrease of 22.2% from the fourth quarter of 2022, where revenue was at RMB 30 billion ($0.37 billion); but an increase of 58% when compared to the first quarter of 2022, where revenue was at RMB 14.76 billion ($0.18 billion)
• Net income was at RMB 788.7 million ($9.6 million), a rise of 18.6% from the last quarter of 2022, where the income was at RMB 665 million ($8.12 million)

The sequential decrease in revenue was mainly due to the decrease in the shipment of solar modules. However, the company is confident to achieve its module shipment target in the second quarter of 2023, which is in the range of 16 GW to 18 GW, with n-type modules accounting for about 60% of total module shipments.

Ginlong net profits up by 121% in Q1/2023: Solar inverter manufacturer, Ginlong Technologies, announcing its 2022 results, said that its net revenue reached RMB 5.89 billion ($ 0.072 billion), a rise of 78% year-on-year, while net profit improved by 166% YoY to RMB 1.04 billion ($0.013 billion). In the first quarter of 2023, Ginlong registered a revenue of RMB 1.65 billion ($0.020 billion), a rise of 50% year-on-year, and a net profit of RMB 312.2 million ($3.81 million), a rise of 121% year-on-year.

China Three Gorges reports nominal growth in Q1/2023: China Three Gorges (CTG) declared its performance report for 2022 and the first quarter of 2023. Here are the details:

In 2022, CTG achieved:

• A revenue of RMB 23.8 billion, which is a growth of 45%
• A recurring net profit of RMB 7.17 billion, which is a rise of 22% year-on-year.

In 2023, CTG achieved:

• A revenue of RMB 6.85 billion, a rise of 18.4% year-on-year
• A recurring net profit of RMB 2.39 billion, an increase of 5.54% year-on-year

Last year, CTG had entered the PV cell production segment by holding a ground breaking ceremony for a 10 GW solar cell production facility (see China PV News Snippets)