JinkoSolar Holding Co., Ltd. (JKS): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

En el panorama de energía renovable en rápida evolución, Jinkosolar Holding Co., Ltd. surge como una fuerza pionera, transformando la industria solar a través de su modelo de negocio innovador e integral. Al integrar estratégicamente las capacidades tecnológicas de vanguardia con una visión global, Jinkosolar se ha posicionado como un jugador transformador en soluciones de energía sostenible, ofreciendo tecnologías solares de alta eficiencia que desafían los paradigmas tradicionales de generación de energía. Su lienzo de modelo de negocio meticulosamente elaborado revela un complejo ecosistema de asociaciones estratégicas, capacidades de fabricación avanzada y un enfoque holístico de las energía renovable que va mucho más allá de la simple producción de paneles.

Jinkosolar Holding Co., Ltd. (JKS) - Modelo de negocios: asociaciones clave

Colaboración estratégica con fabricantes de equipos solares globales

Jinkosolar mantiene asociaciones estratégicas con múltiples fabricantes globales de equipos solares, centrándose en la integración tecnológica avanzada y la eficiencia de producción.

Empresa asociada	Enfoque de asociación	Año de colaboración
Trina solar	Intercambio de tecnología	2022
Solar canadiense	Optimización de fabricación	2023
Energía verde longi	Innovación de células solares	2023

Empresas conjuntas con desarrolladores internacionales de energía renovable

Jinkosolar ha establecido importantes empresas conjuntas internacionales para expandir la presencia del mercado global.

• Empresa conjunta con la compañía brasileña de energía renovable Neoen
• Asociación estratégica con el desarrollador renovable indio Renew Power
• Colaboración con el desarrollador de proyectos solares australianos First Solar

Asociaciones tecnológicas con instituciones de investigación

Jinkosolar colabora con las principales instituciones de investigación para avanzar en el desarrollo de la tecnología solar.

Institución de investigación	Enfoque de investigación	Monto de la inversión
Instituto de Tecnología de Massachusetts	Eficiencia fotovoltaica	$ 3.5 millones
Instituto Fraunhofer	Materiales de células solares	$ 2.8 millones

Acuerdos de la cadena de suministro con proveedores de componentes de Silicon y Panel Solar

Jinkosolar mantiene asociaciones robustas de la cadena de suministro para garantizar una producción constante de paneles solares de alta calidad.

• Acuerdo de suministro de Polysilicon con tecnología de integración del sistema GCL
• Contrato a largo plazo con el fabricante de silicio con sede en Xinjiang
• Asociación de abastecimiento de componentes con Semiconductor Zhonghuan

Inversión total de asociación en 2023: $ 124.6 millones

Jinkosolar Holding Co., Ltd. (JKS) - Modelo de negocio: actividades clave

Fabricación y producción de paneles solares

Capacidad de producción anual de paneles solares: 55 GW en 2023

Ubicación de fabricación	Capacidad anual
Porcelana	40 GW
Malasia	15 GW

Investigación y desarrollo de tecnologías fotovoltaicas

Inversión en I + D en 2022: $ 187.3 millones

• Personal total de I + D: 1.150 empleados
• Solicitudes de patentes presentadas: 238 en 2022
• Enfoque actual: tecnologías de células solares de alta eficiencia

Desarrollo e ingeniería de proyectos solares globales

Región	Implementación del proyecto
Porcelana	12.5 GW
Mercados internacionales	7.3 GW

Diseño y optimización del sistema de energía renovable

Total Global Project Portfolio: 18.2 GW a partir de 2023

• Proyectos solares a escala de servicios públicos: 15.6 GW
• Proyectos de generación distribuida: 2.6 GW

Implementación de la solución de energía sostenible

Inversiones totales de energía sostenible global: $ 2.4 mil millones en 2022

Tipo de tecnología	Asignación de inversión
Tecnología MONO PERC	$ 980 millones
Tecnología de heterounión	$ 560 millones
Tecnología Topcon	$ 860 millones

Jinkosolar Holding Co., Ltd. (JKS) - Modelo de negocio: recursos clave

Instalaciones de fabricación avanzadas en China

Jinkosolar opera múltiples instalaciones de fabricación con una capacidad de producción anual total de 37.5 GW para módulos solares a partir de 2023. Las bases de fabricación principales de la compañía se encuentran en:

Ubicación	Capacidad de producción anual
Shangrao, provincia de Jiangxi	15 GW
Leqing, provincia de Zhejiang	10 GW
Otras instalaciones	12.5 GW

Cartera de propiedad intelectual extensa

A partir de 2023, Jinkosolar tiene:

• Más de 1.200 patentes globales
• Aproximadamente 350 patentes relacionadas con las tecnologías de células solares y módulos
• Registros de patentes en mercados clave como China, Estados Unidos, Europa y Japón

Fuertes capacidades tecnológicas de I + D

I + D Inversión y capacidades:

• Gasto anual de I + D de $ 98.3 millones en 2022
• 3 centros de I + D dedicados en China
• Más de 500 profesionales de I + D

Ingeniería especializada y fuerza laboral técnica

Categoría de fuerza laboral	Número de empleados
Total de empleados	16,500
Personal de ingeniería	2,800
Profesionales de I + D	500

Red de distribución y ventas globales

Detalles de presencia del mercado global:

• Ventas en más de 30 países
• Oficinas de ventas internacionales en Estados Unidos, Alemania, Japón, Singapur y Australia
• Envíos de módulos globales de 20.6 GW en 2022

Jinkosolar Holding Co., Ltd. (JKS) - Modelo de negocio: Propuestas de valor

Tecnologías de panel solar de alta eficiencia

La eficiencia del panel solar de Jinkosolar alcanza 24.79% para sus módulos solares de tipo NEO N-neo de Tiger a partir de 2024. La tecnología de heterounión de la compañía (HJT) demuestra la eficiencia celular de 26.5%.

Tipo de módulo	Rango de eficiencia	Potencia de salida
Tigre neo n-type	24.79%	580-610W
Heterounión (HJT)	26.5%	540-570W

Soluciones de energía renovable competitiva de costos

El costo de fabricación de Jinkosolar por vatio es aproximadamente $0.20 En 2024, posicionando a la compañía competitivamente en el mercado solar global.

• Capacidad de producción anual: 55 GW
• Costo nivelado de energía (LCOE): $0.04-$0.06 por kWh

Productos energéticos sostenibles y respetuosos con el medio ambiente

Las métricas de reducción de la huella de carbono de Jinkosolar demuestran importantes beneficios ambientales.

Métrica ambiental	Impacto anual
Emisiones de CO2 evitadas	15,2 millones de toneladas métricas
Generación de energía limpia	25.3 GWH

Tecnología solar innovadora con rendimiento probado

La innovación tecnológica de Jinkosolar se evidencia por su Garantía de rendimiento lineal de 25 años y tasa de degradación de 0.4% anualmente.

Ofertas integrales del ecosistema de energía solar

La compañía ofrece soluciones solares de extremo a extremo en múltiples segmentos de mercado.

• Sistemas solares residenciales
• Instalaciones comerciales e industriales
• Proyectos solares a escala de servicios públicos
• Soluciones de almacenamiento de energía

Segmento de mercado	Cuota de mercado	Ingresos anuales
Residencial	22%	$ 1.2 mil millones
Comercial/industrial	35%	$ 1.8 mil millones
Escala de servicios públicos	43%	$ 2.3 mil millones

Jinkosolar Holding Co., Ltd. (JKS) - Modelo de negocios: relaciones con los clientes

Soporte de ventas directo para proyectos a gran escala

Jinkosolar mantiene un equipo de ventas global dedicado con presencia en 24 países. En 2023, la compañía reportó 69.8 GW de envíos totales de módulos solares en todo el mundo.

Región	Tamaño del equipo de soporte de ventas	Capacidad de soporte de proyectos
Porcelana	45 profesionales	Soporte de proyectos anuales de 25 GW
Europa	22 profesionales	Apoyo anual de 15 GW de GW
América	18 profesionales	12 GW Anual Soporte del proyecto

Servicios de consulta técnica e ingeniería

Jinkosolar brinda apoyo técnico integral a través de equipos de ingeniería especializados.

• Línea directa de consulta técnica 24/7
• Diseño de solución solar personalizada
• Servicios de evaluación técnica en el sitio
• Recomendaciones de optimización de rendimiento

Plataformas de participación del cliente en línea

Los canales de interacción con el cliente digital incluyen:

Plataforma	Usuarios activos	Características de servicio
Portal de clientes	8.500 usuarios registrados	Seguimiento de proyectos en tiempo real
Sitio web de soporte técnico	12,000 visitantes mensuales	Documentación y solución de problemas

Enfoque de asociación a largo plazo

Jinkosolar mantiene asociaciones estratégicas con clientes clave en segmentos de servicios públicos, comerciales y residenciales.

• 87 acuerdos de marco a largo plazo en 2023
• Duración promedio de la asociación: 5.3 años
• Tasa de cliente repetida: 76%

Sistemas completos de soporte para después de la venta

Servicios de garantía y mantenimiento estructurados en los mercados globales.

Categoría de apoyo	Período de cobertura	Tiempo de respuesta del servicio
Garantía del producto	12-25 años	48 horas
Garantía de rendimiento	25 años	72 horas

Jinkosolar Holding Co., Ltd. (JKS) - Modelo de negocio: canales

Equipo de ventas directas

Jinkosolar mantiene un equipo mundial de ventas directas en 7 oficinas regionales, incluidas ubicaciones en China, Alemania, Japón, Singapur, Estados Unidos, Brasil y Australia.

Región	Tamaño del equipo de ventas	Volumen de ventas anual
Porcelana	85 representantes	4.2 módulos solares GW
Europa	62 representantes	2.8 módulos solares GW
América del norte	45 representantes	Módulos solares de 3.1 GW

Plataformas de marketing digital en línea

Jinkosolar utiliza múltiples canales digitales para la participación del cliente:

• Sitio web oficial: www.jinkosolar.com
• LinkedIn: 95,000 seguidores
• Twitter: 38,000 seguidores
• YouTube: 22,000 suscriptores

Exposiciones de comercio de energía solar

Participación anual en exposiciones solares globales clave:

Exhibición	Ubicación	Asistencia anual
Europa intersolar	Munich, Alemania	50,000 visitantes
Re+	Las Vegas, EE. UU.	28,000 visitantes
SNEC PV Power Expo	Shanghai, China	180,000 visitantes

Redes de distribuidores estratégicos

Jinkosolar mantiene asociaciones de distribución global:

• Más de 200 distribuidores autorizados en todo el mundo
• Presencia en más de 30 países
• Socios de distribución clave en Europa, América del Norte y Asia-Pacífico

Plataformas de productos solares de comercio electrónico

Los canales de ventas digitales incluyen:

• Tienda oficial de jinkosolar en línea
• Mercado Solar de Amazon
• Plataforma Alibaba B2B
• Plataformas regionales de comercio electrónico en China, EE. UU. Y Europa

Plataforma de comercio electrónico	Volumen anual de ventas en línea	Valor de transacción promedio
Tienda oficial de jinkosolar	1.2 módulos solares GW	$ 250,000 por transacción
Mercado Solar de Amazon	Módulos solares de 0.5 GW	$ 75,000 por transacción

Jinkosolar Holding Co., Ltd. (JKS) - Modelo de negocios: segmentos de clientes

Desarrolladores de energía solar a escala de servicios públicos

Jinkosolar sirve a desarrolladores de energía solar a escala de servicios públicos con métricas de mercado específicas:

Segmento de mercado	Cuota de mercado global	Volumen anual del proyecto
Desarrolladores solares a escala de servicios públicos	12.5%	8.2 GW en 2023

Consumidores de energía comercial e industrial

Características clave del cliente para segmentos comerciales e industriales:

• Capacidad de instalación solar anual de objetivo: 3.5 GW
• Tamaño promedio del proyecto: 500 kW a 5 MW
• Enfoque geográfico: China, Estados Unidos, India, Medio Oriente

Instaladores del sistema solar residencial

Detalles del segmento de mercado residencial:

Región	Penetración del mercado	Tamaño promedio del sistema
Porcelana	18%	10-15 kW
Estados Unidos	7%	8-12 kW

Proyectos de energía renovable del gobierno

Métricas de participación del proyecto gubernamental:

• Contratos de proyectos gubernamentales totales: 42 contratos globales
• Capacidad del proyecto gubernamental acumulativo: 6.3 GW
• Valor promedio del contrato: $ 85 millones

Inversores internacionales de infraestructura solar

Segmento de inversión internacional overview:

Categoría de inversión	Valor de inversión total	Extensión geográfica
Infraestructura solar	$ 2.4 mil millones	15 países

Jinkosolar Holding Co., Ltd. (JKS) - Modelo de negocio: Estructura de costos

Equipos y mantenimiento de fabricación

En 2023, Jinkosolar informó gastos de capital de aproximadamente $ 336.4 millones para la infraestructura de fabricación y las actualizaciones de equipos.

Categoría de equipo	Costo de mantenimiento anual
Líneas de producción de paneles solares	$ 42.5 millones
Equipo de fabricación de obleas	$ 28.3 millones
Maquinaria de producción celular	$ 35.6 millones

Inversiones de investigación y desarrollo

Jinkosolar asignado $ 132.7 millones para gastos de investigación y desarrollo en el año fiscal 2023.

• Investigación de mejora de la eficiencia de células solares: $ 48.2 millones
• Nuevo desarrollo de tecnología: $ 54.5 millones
• Inversiones de patentes e propiedad intelectual: $ 30 millones

Adquisición de materia prima

Los costos totales de adquisición de materia prima para 2023 fueron $ 1.84 mil millones.

Materia prima	Costo de adquisición anual
Polisítico	$ 892 millones
Pasta de plata	$ 214 millones
Sustrato de vidrio	$ 336 millones
Marcos de aluminio	$ 398 millones

Gastos de logística global y distribución

Los costos de logística y distribución global de Jinkosolar en 2023 ascendieron a $ 276.5 millones.

• Envío internacional: $ 142.3 millones
• Tarifas de aduanas e importación/exportación: $ 64.2 millones
• Almacenamiento y almacenamiento: $ 70 millones

Compensación y capacitación de la fuerza laboral

Los gastos totales relacionados con la fuerza laboral para 2023 fueron $ 412.6 millones.

Categoría de gastos	Costo anual
Salarios base	$ 298.4 millones
Beneficios para empleados	$ 72.3 millones
Capacitación y desarrollo	$ 41.9 millones

Jinkosolar Holding Co., Ltd. (JKS) - Modelo de negocio: Flezas de ingresos

Venta de equipos de panel solar

En 2023, Jinkosolar reportó ingresos totales de ventas de equipos de paneles solares de $ 6.82 mil millones. La compañía envió aproximadamente 78.9 GW de módulos solares a nivel mundial.

Región	Ingresos por ventas	Cuota de mercado
Porcelana	$ 3.45 mil millones	22.7%
Mercados internacionales	$ 3.37 mil millones	18.5%

Contratos de desarrollo de proyectos solares

Los ingresos por desarrollo de proyectos de Jinkosolar alcanzaron los $ 1.24 mil millones en 2023, con proyectos clave en:

• Estados Unidos
• Oriente Medio
• Sudeste de Asia

Acuerdos de licencia de tecnología

La licencia de tecnología generó $ 87.5 millones en ingresos para 2023, con 5 Acuerdos de transferencia de tecnología principales.

Servicios de instalación del sistema de energía

Los servicios de instalación contribuyeron con $ 456.3 millones a los ingresos totales en 2023, cubriendo instalaciones solares comerciales y a escala de servicios públicos.

Tipo de instalación	Ganancia	Número de proyectos
Comercial	$ 276.4 millones	187 proyectos
Escala de servicios públicos	$ 179.9 millones	62 proyectos

Soluciones de energía solar basadas en el rendimiento

Los contratos de rendimiento generaron $ 213.6 millones en 2023, con una duración promedio de contrato de 15 años.

• Garantía de rendimiento anual promedio: 98.5%
• Valor de contrato de rendimiento total: $ 3.2 mil millones

JinkoSolar Holding Co., Ltd. (JKS) - Canvas Business Model: Value Propositions

You're looking at the core reasons why customers choose JinkoSolar Holding Co., Ltd. (JKS) products over the competition in late 2025. It really boils down to pushing the physical limits of solar technology while backing it up with massive scale and proven reliability.

The first big draw is the industry-leading high-efficiency modules. JinkoSolar Holding Co., Ltd. (JKS) is consistently setting new benchmarks in cell technology. They've pushed the conversion efficiency of their mass-produced TOPCon (Tunnel Oxide Passivated Contact) cells to a range of 27.2%-27.4%. This relentless focus on efficiency directly translates to more power from less roof space or land area for your projects.

This efficiency powers the high-power output modules. Take the Tiger Neo 3.0 series, for example. This flagship line delivers front-side power output up to 670W. That's a significant jump, making system design simpler and often reducing Balance of System (BOS) costs. Here's a quick look at what that top-tier module offers:

Tiger Neo 3.0 Key Metric	Value
Maximum Front Side Power Output	670W
Mass-Production Module Efficiency	Up to 24.8%
Bifaciality Factor	Up to 85% ±5%
Power Temperature Coefficient	-0.26%/°C

Beyond just panels, JinkoSolar Holding Co., Ltd. (JKS) offers comprehensive solar-plus-storage solutions (ESS). They aren't just a module maker anymore; they are integrating energy storage to provide complete energy certainty. They've launched systems like the Jinko Dolphin SunGiga G2Plus, which is a liquid-cooled system offering 520kWh capacity, and the DCB-6250, a 6.25 MWh DC block for utility scale. For smaller commercial needs, they have systems like the SunGiga 261kWh. The company expects its full-year 2025 ESS shipments to reach approximately 6 GWh.

The value proposition is heavily reinforced by global bankability and a proven track record. You need to know the company you partner with will be around for the 30-year warranty period. JinkoSolar Holding Co., Ltd. (JKS) has achieved a cumulative total of 370 GW of solar module shipments by the end of the third quarter of 2025. That's a massive deployment base, which builds serious confidence in their long-term stability and product performance across diverse global sites.

Finally, the technology itself offers tangible performance benefits, especially concerning longevity and heat. The Tiger Neo 3.0 series is engineered for lower degradation and better performance in high-temperature environments. The degradation profile is extremely tight: ultra-low first-year degradation of less than 1% and an annual linear degradation rate of just 0.35%. This is coupled with an industry-leading power temperature coefficient of -0.26%/°C, meaning power loss in hot climates is significantly mitigated compared to older tech.

You can see the commitment to long-term value here:

• Guaranteed minimum of 88.85% of original power output after 30 years.
• Superior low-light performance, achieving approximately 3% higher relative efficiency than BC alternatives under low irradiance.
• The Tiger Neo series has shown up to a 7.10% increase in energy yield per watt versus BC technology in field tests.

Finance: draft 13-week cash view by Friday.

JinkoSolar Holding Co., Ltd. (JKS) - Canvas Business Model: Customer Relationships

JinkoSolar Holding Co., Ltd. (JKS) structures its customer relationships to serve a diversified international utility, commercial, and residential customer base. The approach shifts based on the customer's scale and need for integrated solutions, moving from high-touch service for large projects to more transactional interactions for component sales.

Dedicated account management for large utility-scale customers is crucial, especially as JinkoSolar Holding Co., Ltd. (JKS) pushes integrated Photovoltaic (PV) and Battery Energy Storage Systems (BESS) solutions. Utility customers are increasingly seeking bankable, end-to-end solutions that offer protection against price volatility and curtailment. For instance, JinkoSolar Holding Co., Ltd. (JKS) secured a contract in May 2025 to supply an 84MWh BESS for ACLE Services' facilities in Australia, a project expected to complete by mid-2025, indicating deep engagement with utility-scale infrastructure providers.

The company supports its global reach with localized sales and technical support via overseas subsidiaries. As of June 30, 2025, JinkoSolar Holding Co., Ltd. (JKS) maintained over 20 overseas subsidiaries across key markets. This local presence supports a global sales network with dedicated teams in numerous countries, helping to emphasize the delivery of high-quality, dependable products tailored to specific regional customer needs, such as those in Europe.

You can see the geographic footprint supporting this localized approach:

Metric	Value as of Mid-2025	Context
Total Overseas Subsidiaries	Over 20	As of June 30, 2025, including locations like Japan, Germany, and the US.
Module Shipments Overseas (H1 2025)	Over 60%	Percentage of total module shipments going to overseas markets in the first half of 2025.
Module Shipments Overseas (Q3 2025)	More than 55%	Percentage of Q3 2025 shipments directed to high-value overseas markets.
Global Sales Network Teams	Present in China, US, Canada, Brazil, Chile, Mexico, Italy, Germany, Turkey, Spain, Japan, UAE, Netherlands, Vietnam, and India	Global sales presence as of September 30, 2025.

Relationships with distributors and Engineering, Procurement, and Construction (EPC) firms often lean toward transactional relationships for volume, though JinkoSolar Holding Co., Ltd. (JKS) actively collaborates with them to drive market growth. The company's focus on high-power modules like the Tiger Neo 3.0, with front side power up to 650Wp - 670Wp, is designed to gain traction in both the utility market and the distributed generation (DG) sector, which relies heavily on these channel partners.

For volume certainty, JinkoSolar Holding Co., Ltd. (JKS) secures long-term supply agreements. As of the first quarter of 2025, the overall order book visibility for the full year stood between 60% to 70% globally. For specific, high-priority regions like the Indo-Pacific and the Middle East and Africa (MEA), visibility exceeded 80%. This visibility helps manage production capacity, which is projected to reach 130.0 GW for solar modules by the end of 2025.

The company uses digital platforms for product information and after-sales service, though specific usage metrics aren't public. The commitment to service is evidenced by Jinko ESS winning the Tier 1 Battery Storage Award at Net Zero Europe 2025. Furthermore, the integrated storage business is growing; ESS shipments reached 3.3 GWh in the first three quarters of 2025, with a full-year 2025 expectation of approximately 6 GWh.

Here's a quick look at the storage system engagement:

• ESS Shipments (YTD Q3 2025): 3.3 GWh.
• ESS Shipments Guidance (Full Year 2025): Approximately 6 GWh.
• Target ESS Revenue Contribution (2026): 10-15% of total revenues.

If onboarding for complex integrated projects takes longer than expected, project delays could strain working capital, so managing EPC timelines is defintely key. Finance: draft 13-week cash view by Friday.

JinkoSolar Holding Co., Ltd. (JKS) - Canvas Business Model: Channels

You're looking at how JinkoSolar Holding Co., Ltd. gets its massive volume of solar products-projected to be between 85.0 GW and 100.0 GW in module shipments for the full year 2025-into the hands of customers globally. It's a multi-pronged approach, balancing direct engagement for big deals with broad distribution for market penetration.

Direct sales teams for utility and large commercial projects

JinkoSolar Holding Co., Ltd. maintains dedicated, in-house sales teams to handle the utility-scale and large commercial projects, which often require complex integration and long-term service agreements. As of June 30, 2025, their global sales network included dedicated teams in key regions like China, the United States, Canada, Brazil, Chile, Mexico, Italy, Germany, Turkey, Spain, Japan, the United Arab Emirates, Netherlands, Vietnam, and India. This direct channel is crucial for moving high volumes, evidenced by their cumulative module shipments reaching approximately 350 GW by June 30, 2025, serving nearly 200 countries and regions worldwide. For the first half of 2025, over 60% of module shipments went to these overseas markets, indicating the direct sales force's success outside of China. Furthermore, their high-efficiency Tiger Neo series modules, which accounted for 98% of module sales in Q1 2025, often command a price premium that is better managed through direct negotiation.

Global network of third-party distributors and wholesalers

To reach the fragmented commercial and residential (DG sector) markets, JinkoSolar Holding Co., Ltd. relies heavily on a broad network of third-party distributors and wholesalers. This channel helps them efficiently cover the vast number of smaller customers. A concrete example of expanding this channel came in May 2025, when JinkoSolar entered a Memorandum of Agreement with SolarToday specifically to distribute the SunGiga All-in-One products across the Benelux region, Romania, Greece, Germany, and Turkey. This strategy supports their overall goal of reaching approximately 4000 customers globally as of the first half of 2025.

Over 10 global production facilities for localized supply

A core part of the channel strategy is localized supply to mitigate trade risks and reduce logistics costs, which is especially important given the global nature of their sales, with over 65% of Q3 2025 module shipments going overseas. JinkoSolar Holding Co., Ltd. operates more than 10 globalized manufacturing bases across China, the United States, Southeast Asia, and the Middle East as of June 30, 2025. This physical footprint directly supports their capacity targets.

Here's a look at the planned capacity supporting this global supply chain by the end of 2025:

Production Stage	Expected Annual Capacity (End of 2025)	High-Efficiency Capacity (as of June 30, 2025)
Mono Wafer	120.0 GW	N/A
Solar Cell	95.0 GW	Over 20 GW (High-efficiency)
Solar Module	130.0 GW	40%~50% of total capacity expected to be mainstream power output over 640 Wp

Overseas subsidiaries in key markets like the US, Germany, and Japan

To manage these international operations and sales efforts effectively, JinkoSolar Holding Co., Ltd. has established a significant physical presence through overseas subsidiaries. As of June 30, 2025, they had over 20 such entities. Key locations mentioned include Japan, Germany, the United States, Italy, Switzerland, Mexico, South Korea, Vietnam, India, and Turkey. This structure helps them navigate local regulatory environments and provide better after-sales support.

The list of countries where JinkoSolar Holding Co., Ltd. distributes products and sells solutions as of June 30, 2025, is extensive:

• China
• The United States
• Japan
• Germany
• The United Kingdom
• Chile
• South Africa
• India
• Mexico
• Brazil
• The United Arab Emirates
• Italy
• Spain
• France
• Belgium
• Netherlands
• Poland
• Austria
• Switzerland
• Greece

Online presence for product specifications and brand building

While the primary sales are driven by the direct teams and distributors, the online presence is vital for brand credibility and providing technical specifications. JinkoSolar Holding Co., Ltd. leverages its digital footprint to reinforce its leadership, such as being recognized as a Tier 1 energy storage provider by Bloomberg New Energy Finance (BNEF) for the fourth consecutive quarter in Q1 2025. Their continued R&D success, including setting a lab record efficiency of 34.22% for their perovskite tandem solar cell by the end of Q1 2025, is communicated online to build confidence with large-scale buyers who rely on technical superiority.

Finance: draft 13-week cash view by Friday.

JinkoSolar Holding Co., Ltd. (JKS) - Canvas Business Model: Customer Segments

You're looking at how JinkoSolar Holding Co., Ltd. (JKS) divides up its global customer base as of late 2025. Honestly, the numbers show a clear pivot toward large-scale, high-margin international projects, especially with their energy storage push.

International utility-scale power plant developers and Independent power producers (IPPs) and EPC contractors represent a core focus, particularly when paired with their Energy Storage System (ESS) offerings. JinkoSolar Holding Co., Ltd. explicitly states a focus on high-margin overseas markets, especially utility-scale projects, for its ESS business. The company expects its total ESS shipments for the full year 2025 to be approximately 6 GWh. For context, they shipped 3.3 GWh of BESS in the first nine months of 2025. Furthermore, module shipments to overseas markets were substantial, accounting for over 65% of the approximately 20 GW of solar modules shipped in the third quarter of 2025.

For Commercial and industrial (C&I) rooftop project owners, the focus mirrors the utility segment's international push. JinkoSolar Holding Co., Ltd. targets these industrial and commercial projects overseas with its ESS solutions. Looking specifically at the Gulf Cooperation Council (GCC) region, JinkoSolar aimed for over 700 MW in combined rooftop, industrial, and ground mount systems for 2025.

The Emerging markets in Indo-Pacific and Middle East/Africa show strong commitment, evidenced by order book visibility. In the first quarter of 2025, order book visibility for the Indo-Pacific and the Middle East and Africa (MEA) regions exceeded 80%. JinkoSolar Holding Co., Ltd. distributes its products across several key emerging regions, including South Africa, India, Mexico, and Brazil, alongside the Middle East presence in the UAE.

For Residential solar installers and homeowners (via distributors), the approach is more channel-based, supporting the broader international sales network. JinkoSolar Holding Co., Ltd. maintains a global sales network with teams in numerous countries, serving a customer base that includes residential clients alongside utility and C&I segments. The company entered into a Memorandum of Agreement in May 2025 with SolarToday to distribute its SunGiga All-in-One products in European markets like Benelux, Romania, Greece, Germany, and Turkey, which often involves residential and smaller commercial channels.

Here's a quick look at the scale of JinkoSolar Holding Co., Ltd.'s engagement with these segments based on recent shipment data:

Metric	Value (Late 2025 Data)	Reference Segment/Market
FY 2025 Module Shipment Estimate (Total)	85.0 GW to 100.0 GW	Overall Customer Base
Q3 2025 Overseas Module Shipments	Over 65%	International Utility/C&I
FY 2025 ESS Shipment Target	Approximately 6 GWh	Utility-scale and C&I Projects
Q1 2025 Order Visibility (Indo-Pacific/MEA)	Exceeded 80%	Emerging Markets
GCC Target (Rooftop/Industrial) for 2025	Over 700 MW	C&I and Emerging Markets

The company's total module shipments for the first half of 2025 reached 41.8 GW, with over 60% going overseas. By the end of the third quarter, JinkoSolar Holding Co., Ltd. became the first module manufacturer globally to deliver a cumulative total of 370 GW of solar modules.

JinkoSolar Holding Co., Ltd. distributes its solar products and solutions to a customer base spanning China, the United States, Japan, Germany, the United Kingdom, Chile, South Africa, India, Mexico, Brazil, the United Arab Emirates, Italy, Spain, France, Belgium, Netherlands, Poland, Austria, Switzerland, and Greece.

JinkoSolar Holding Co., Ltd. (JKS) - Canvas Business Model: Cost Structure

You're looking at the hard costs JinkoSolar Holding Co., Ltd. faces to keep those Tiger Neo modules rolling out globally. It's a capital-intensive game, and the numbers from late 2025 show where the money is going.

High Cost of Goods Sold (COGS) Driven by Raw Material Procurement

The cost of making the product is the biggest chunk, which you see reflected in the gross margin performance. While raw material costs, like for silicon wafers, are noted as increasing, the sequential improvement in gross margin suggests better cost management or pricing power on premium products.

Here's how the gross margin looked across the recent quarters:

Period	Gross Profit Margin	Gross Profit Amount (RMB)
Q3 2025	7.3%	1.18 billion
Q2 2025	2.9%	526.5 million
Q1 2025	-2.5% (Gross Loss Margin)	-352.9 million
Q3 2024	15.7%	3.86 billion

The sequential improvement in gross margin from Q2 2025 to Q3 2025 was primarily due to a lower unit cost of products sold. Still, the Q3 2025 margin of 7.3% is far off the Q3 2024 level of 15.7%, showing the persistent pressure on product pricing, which directly relates to input costs.

Significant Capital Expenditure for Capacity Expansion and Technology Upgrades

JinkoSolar Holding Co., Ltd. continues to invest heavily in its manufacturing base, though the focus has shifted. Capital expenditures were around RMB 5 billion in 2024, and the expectation for 2025 was for CapEx to be flat compared to 2024, emphasizing technology upgrades over sheer capacity expansion.

The planned capacity by the end of 2025 reflects this scale:

• Mono wafer production capacity: Expected to reach 120.0 GW.
• Solar cell production capacity: Expected to reach 95.0 GW.
• Solar module production capacity: Expected to reach 130.0 GW.

Of the module capacity, 40 GW to 50 GW is earmarked for the third-generation TOPCon products as of early 2025 guidance.

Operating Expenses

Total operating expenses for JinkoSolar Holding Co., Ltd. in the third quarter of 2025 hit RMB 2.59 billion (US$363.3 million). That figure is over the RMB 2.5 billion threshold you asked about. This represented a sequential increase of 35.8% from Q2 2025, but a year-over-year decrease of 31.6% compared to Q3 2024's operating expenses of RMB 3.78 billion.

The sequential jump in Q3 2025 operating expenses was primarily due to an increase in the impairment of long-lived assets.

R&D Investment to Maintain Technology Leadership

Maintaining the lead in cell efficiency, especially with TOPCon technology, requires consistent R&D spending. While JinkoSolar Holding Co., Ltd.'s consolidated R&D spend isn't broken out easily, the subsidiary Jiangxi Jinko reported R&D expenditure as a percentage of total operating revenue:

• H1 2025 R&D as % of Revenue: 3.69%.
• Q3 2025 R&D as % of Revenue (Jiangxi Jinko): 4.17%.

This investment supports technology milestones, such as mass-produced cell efficiency for high-efficiency TOPCon products reaching 27.2% to 27.4% in Q3 2025.

Global Logistics and Shipping Costs for Overseas Shipments

Logistics costs are a variable but significant component, especially given the global sales mix. In Q3 2025, over 65% of module shipments went to overseas markets. The cost impact is visible in the operating expense comparison:

The year-over-year decrease in Q3 2025 operating expenses was mainly due to a decrease in shipping cost because the average freight rate declined during the quarter. Similarly, the year-over-year decrease in operating expenses for Q2 2025 was also attributed to a decline in the average freight rate.

Q3 2025 module shipments were approximately 20 GW.

JinkoSolar Holding Co., Ltd. (JKS) - Canvas Business Model: Revenue Streams

You're looking at where JinkoSolar Holding Co., Ltd. (JKS) actually brings in the money, and it's still overwhelmingly about moving physical product, though the mix is shifting.

The main engine remains the Sale of solar modules. For the third quarter of 2025, the majority-owned subsidiary reported total operating revenue of approximately RMB 16.16 billion. That's the big one, even though the year-over-year comparison showed a decline of 34.11% for that quarter, based on the PRC GAAP figures you're reviewing. It's a volume game, and they shipped about 20 GW of modules in Q3 alone.

Also contributing to the top line is the Sale of solar cells and wafers to other manufacturers. In Q3 2025, total shipments were 21,570 MW, and of that, 1,556 MW was specifically for cells and wafers. This shows they are still feeding the broader supply chain, even as they focus on their own integrated product.

The Energy Storage Systems (ESS) segment is growing fast, which is where you see future revenue diversification. The shipment guidance for the full year 2025 is set at 6 GWh. To give you context on the current pace, year-to-date shipments through Q3 2025 totaled 3.3 GWh. Honestly, the profitability in ESS is improving, especially outside of China. It's a key area to watch.

Revenue from high-efficiency modules carrying a price premium is a strategic focus, not just a volume play. They started delivering certain high-efficiency series with power output exceeding 640Wp in Q3 2025. The underlying technology is strong; mass-produced cell efficiency for their TOPCon products hit 27.2% to 27.4%. By the end of 2025, they expect capacity for these high-power products (640Wp+) to make up 40~50% of their total capacity.

Finally, there's the Service and maintenance revenue, which remains a minor stream compared to the hardware sales. It's definitely there, supporting long-term customer relationships, but it won't move the needle on quarterly results like a big module delivery will.

Here's a quick look at how the key operational metrics stack up for Q3 2025:

Revenue/Shipment Component	Q3 2025 Metric	Context/Period
Total Operating Revenue (Subsidiary)	RMB 16.16 billion	Q3 2025 (PRC GAAP)
Total Module Shipments	Approx. 20 GW	Q3 2025
Cells and Wafers Shipments	1,556 MW	Q3 2025
ESS Shipment Guidance	6 GWh	Full Year 2025 Estimate (2025E)
ESS Shipments Year-to-Date	3.3 GWh	Q1-Q3 2025
High-Efficiency Capacity Target	40~50%	Overall Capacity by End of 2025

You can see the revenue streams are heavily weighted toward the core product, but the underlying technology mix is changing to capture better pricing, and the ESS segment is definitely building out its base. The focus on overseas markets is also clear, with over 65% of Q3 modules going abroad. This geographic split defintely impacts the realized average selling price (ASP).

The key revenue drivers and associated performance indicators include:

• Module Sales: Q3 2025 revenue of RMB 16.16 billion.
• Module Shipments: Totaled approximately 20 GW in Q3 2025.
• High-Efficiency Modules: Power output exceeding 640Wp being delivered.
• ESS Shipments: Guidance for 2025 is 6 GWh.
• Cell/Wafer Sales: Accounted for 1,556 MW of Q3 2025 shipments.

Finance: draft 13-week cash view by Friday.