JinkoSolar reports 21.6% revenue decline YoY for Q2 2024

JinkoSolar, a leading global manufacturer of solar panels, has announced a 21.6% decline in revenue for the second quarter of 2024 compared to the same period last year. The company's revenue fell to $2.1 billion in Q2 2024, down from $2.68 billion in Q2 2023.

The decline in revenue is attributed to a combination of factors, including lower module prices and lower demand in key markets. Despite this downturn, JinkoSolar remains optimistic about its future prospects, citing continued investment in research and development and expansion into new markets as strategies to counter current challenges.

In addition to the revenue decline, JinkoSolar's gross profit margin also suffered a significant contraction, reflecting the continued pressure in the competitive solar industry. The company has announced plans to streamline its operations and improve efficiency to enhance profitability in the coming quarters.

Looking ahead, JinkoSolar is focused on leveraging its technological advancements and scaling up production capacity to maintain its position in the market . The company believes that strategic adjustments and innovation will help navigate the current market volatility and drive long-term growth.

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