Jinkosolar Holding Co., Ltd. (JKS): Business Model Canvas [Jan-2025 Mise à jour]

Dans le paysage en évolution rapide des énergies renouvelables, Jinkosolar Holding Co., Ltd. émerge comme une force pionnière, transformant l'industrie solaire par le biais de son modèle commercial innovant et complet. En intégrant stratégiquement les capacités technologiques de pointe avec une vision mondiale, Jinkosolar s'est positionné comme un acteur transformateur dans des solutions énergétiques durables, offrant des technologies solaires à haute efficacité qui remettent en question les paradigmes traditionnels de production d'électricité. Leur toile de modèle commercial méticuleusement conçu révèle un écosystème complexe de partenariats stratégiques, des capacités de fabrication avancées et une approche holistique des énergies renouvelables qui va bien au-delà de la simple production de panneaux.

Jinkosolar Holding Co., Ltd. (JKS) - Modèle commercial: partenariats clés

Collaboration stratégique avec les fabricants mondiaux d'équipements solaires

Jinkosolar maintient des partenariats stratégiques avec plusieurs fabricants d'équipements solaires mondiaux, en se concentrant sur l'intégration technologique avancée et l'efficacité de la production.

Entreprise partenaire	Focus de partenariat	Année de collaboration
Trina solaire	Échange de technologies	2022
Solaire canadien	Optimisation de la fabrication	2023
Longi Green Energy	Innovation des cellules solaires	2023

Coentreprises avec des développeurs internationaux d'énergie renouvelable

Jinkosolar a établi des coentreprises internationales importantes pour étendre la présence mondiale sur le marché.

• Coentreprise avec la société brésilienne d'énergie renouvelable Neoen
• Un partenariat stratégique avec le développeur renouvelable renouvelable indien renouvelle le pouvoir
• Collaboration avec le développeur du projet solaire australien First Solar

Partenariats technologiques avec les institutions de recherche

Jinkosolar collabore avec les principaux institutions de recherche pour faire progresser le développement de la technologie solaire.

Institution de recherche	Focus de recherche	Montant d'investissement
Institut de technologie du Massachusetts	Efficacité photovoltaïque	3,5 millions de dollars
Institut Fraunhofer	Matériaux de cellules solaires	2,8 millions de dollars

Accords de chaîne d'approvisionnement avec des fournisseurs de composants en silicium et en panneaux solaires

Jinkosolar maintient des partenariats robustes de la chaîne d'approvisionnement pour assurer une production cohérente de panneaux solaires de haute qualité.

• Contrat d'alimentation en polysilicon avec la technologie d'intégration du système GCL
• Contrat à long terme avec le fabricant de silicium basé au Xinjiang
• Partenariat d'approvisionnement en composants avec Zhonghuan Semiconductor

Investissement total de partenariat en 2023: 124,6 millions de dollars

Jinkosolar Holding Co., Ltd. (JKS) - Modèle d'entreprise: activités clés

Fabrication et production de panneaux solaires

Capacité de production annuelle du panneau solaire: 55 GW en 2023

Lieux de fabrication	Capacité annuelle
Chine	40 GW
Malaisie	15 GW

Recherche et développement des technologies photovoltaïques

Investissement en R&D en 2022: 187,3 millions de dollars

• Personnel total de R&D: 1 150 employés
• Demandes de brevet déposées: 238 en 2022
• Focus actuel: technologies de cellules solaires à haute efficacité

Développement et ingénierie du projet solaire mondial

Région	Déploiement du projet
Chine	12,5 GW
Marchés internationaux	7.3 GW

Conception et optimisation du système d'énergie renouvelable

Portefeuille total de projets mondiaux: 18,2 GW en 2023

• Projets solaires à l'échelle des services publics: 15,6 GW
• Projets de génération distribués: 2,6 GW

Mise en œuvre de la solution énergétique durable

Investissements mondiaux totaux énergétiques durables: 2,4 milliards de dollars en 2022

Type de technologie	Allocation des investissements
Technologie mono perc	980 millions de dollars
Technologie d'hétérojonction	560 millions de dollars
Technologie Topcon	860 millions de dollars

Jinkosolar Holding Co., Ltd. (JKS) - Modèle commercial: Ressources clés

Installations de fabrication avancées en Chine

Jinkosolar exploite plusieurs installations de fabrication avec une capacité de production annuelle totale de 37,5 GW pour les modules solaires en 2023. Les principales bases de fabrication de la société sont situées dans:

Emplacement	Capacité de production annuelle
Shangrao, province du Jiangxi	15 GW
Leqing, province du Zhejiang	10 GW
Autres installations	12,5 GW

Portfolio de propriété intellectuelle étendue

En 2023, Jinkosolar est soutenu:

• Plus de 1 200 brevets mondiaux
• Environ 350 brevets liés aux technologies de cellules solaires et de modules
• Les enregistrements de brevets sur les principaux marchés, notamment la Chine, les États-Unis, l'Europe et le Japon

Capacités de R&D technologiques solides

Investissement et capacités de R&D:

• Dépenses annuelles de R&D de 98,3 millions de dollars en 2022
• 3 centres de R&D dédiés en Chine
• Plus de 500 professionnels de la R&D

Ingénierie qualifiée et main-d'œuvre technique

Catégorie de main-d'œuvre	Nombre d'employés
Total des employés	16,500
Personnel d'ingénierie	2,800
R&D Professionals	500

Réseau mondial de distribution et de vente

Détails de présence sur le marché mondial:

• Ventes dans plus de 30 pays
• Offices commerciaux internationaux aux États-Unis, en Allemagne, au Japon, à Singapour et en Australie
• Envois de modules mondiaux de 20,6 GW en 2022

Jinkosolar Holding Co., Ltd. (JKS) - Modèle d'entreprise: propositions de valeur

Technologies de panneaux solaires à haute efficacité

L'efficacité du panneau solaire de Jinkosolar atteint 24.79% Pour ses modules solaires de type Tiger Neo N à partir de 2024. La technologie de l'hétérojonction (HJT) de la société démontre l'efficacité cellulaire de 26.5%.

Type de module	Plage d'efficacité	Sortie
Tiger Neo N-Type	24.79%	580-610W
Hétérojonction (HJT)	26.5%	540-570W

Solutions d'énergie renouvelable aux coûts

Le coût de fabrication de Jinkosolar par watt est à peu près $0.20 En 2024, positionnant la société de manière compétitive sur le marché solaire mondial.

• Capacité de production annuelle: 55 GW
• Coût d'énergie nivelé (LCOE): $0.04-$0.06 par kwh

Produits énergétiques durables et respectueuses de l'environnement

Les mesures de réduction de l'empreinte carbone de Jinkosolar démontrent des avantages environnementaux importants.

Métrique environnementale	Impact annuel
Les émissions de CO2 évitées	15,2 millions de tonnes métriques
Production d'énergie propre	25,3 GWh

Technologie solaire innovante avec des performances éprouvées

L'innovation technologique de Jinkosolar est mise en évidence par son Garantie de performance linéaire de 25 ans et le taux de dégradation de 0.4% annuellement.

Offres complètes des écosystèmes d'énergie solaire

La société propose des solutions solaires de bout en bout dans plusieurs segments de marché.

• Systèmes solaires résidentiels
• Installations commerciales et industrielles
• Projets solaires à l'échelle des services publics
• Solutions de stockage d'énergie

Segment de marché	Part de marché	Revenus annuels
Résidentiel	22%	1,2 milliard de dollars
Commercial / industriel	35%	1,8 milliard de dollars
Échelle des services publics	43%	2,3 milliards de dollars

Jinkosolar Holding Co., Ltd. (JKS) - Modèle d'entreprise: relations avec les clients

Assistance des ventes directes pour les projets à grande échelle

Jinkosolar maintient une équipe de vente mondiale dédiée en présence dans 24 pays. En 2023, la société a signalé 69,8 GW des expéditions totales de modules solaires dans le monde.

Région	Taille de l'équipe de soutien aux ventes	Capacité de soutien au projet
Chine	45 professionnels	25 GW Soutien du projet annuel
Europe	22 professionnels	15 GW Soutien du projet annuel
Amériques	18 professionnels	12 GW Soutien du projet annuel

Services de consultation technique et d'ingénierie

Jinkosolar fournit un soutien technique complet par le biais d'équipes d'ingénierie spécialisées.

• Hotline de consultation technique 24/7
• Conception de solution solaire personnalisée
• Services d'évaluation technique sur place
• Recommandations d'optimisation des performances

Plateformes de fiançailles clients en ligne

Les canaux d'interaction du client numérique comprennent:

Plate-forme	Utilisateurs actifs	Fonctionnalités de service
Portail client	8 500 utilisateurs enregistrés	Suivi de projet en temps réel
Site Web d'assistance technique	12 000 visiteurs mensuels	Documentation et dépannage

Approche de partenariat à long terme

Jinkosolar maintient des partenariats stratégiques avec des clients clés dans les segments utilitaire, commercial et résidentiel.

• 87 accords de cadre à long terme en 2023
• Durée du partenariat moyen: 5,3 ans
• Taux client répété: 76%

Systèmes de support après-vente complets

Services de garantie et de maintenance structurés sur les marchés mondiaux.

Catégorie de support	Période de couverture	Temps de réponse du service
Garantie du produit	12-25 ans	48 heures
Garantie de performance	25 ans	72 heures

Jinkosolar Holding Co., Ltd. (JKS) - Modèle commercial: canaux

Équipe de vente directe

Jinkosolar maintient une équipe de vente directe mondiale dans 7 bureaux régionaux, notamment des emplacements en Chine, en Allemagne, au Japon, à Singapour, aux États-Unis, au Brésil et en Australie.

Région	Taille de l'équipe de vente	Volume des ventes annuelles
Chine	85 représentants	4.2 Modules solaires GW
Europe	62 représentants	2,8 modules solaires GW
Amérique du Nord	45 représentants	3.1 Modules solaires GW

Plateformes de marketing numérique en ligne

Jinkosolar utilise plusieurs canaux numériques pour l'engagement des clients:

• Site officiel: www.jinkosolar.com
• LinkedIn: 95 000 abonnés
• Twitter: 38 000 abonnés
• YouTube: 22 000 abonnés

Expositions de commerce d'énergie solaire

Participation annuelle aux principales expositions solaires mondiales:

Exposition	Emplacement	Fréquentation annuelle
Europe intersolaire	Munich, Allemagne	50 000 visiteurs
Re +	Las Vegas, USA	28 000 visiteurs
Exposition SNEC PV Power	Shanghai, Chine	180 000 visiteurs

Réseaux de distributeurs stratégiques

Jinkosolar maintient les partenariats de distribution mondiaux:

• Plus de 200 distributeurs autorisés dans le monde
• Présence dans plus de 30 pays
• Partenaires de distribution clés en Europe, en Amérique du Nord et en Asie-Pacifique

Plates-formes de produits solaires de commerce électronique

Les canaux de vente numériques comprennent:

• Boutique en ligne officielle Jinkosolar
• Marché solaire Amazon
• Plate-forme Alibaba B2B
• Plateformes régionales de commerce électronique en Chine, aux États-Unis et en Europe

Plate-forme de commerce électronique	Volume de vente en ligne annuel	Valeur de transaction moyenne
Magasin officiel jinkosolar	1.2 modules solaires GW	250 000 $ par transaction
Marché solaire Amazon	Modules solaires 0,5 GW	75 000 $ par transaction

Jinkosolar Holding Co., Ltd. (JKS) - Modèle d'entreprise: segments de clientèle

Développeurs d'énergie solaire à l'échelle des services publics

Jinkosolar sert des développeurs d'énergie solaire à l'échelle des services publics avec des mesures de marché spécifiques:

Segment de marché	Part de marché mondial	Volume annuel du projet
Développeurs solaires à l'échelle des services publics	12.5%	8.2 GW en 2023

Consommateurs d'énergie commerciale et industrielle

Caractéristiques clés du client pour les segments commerciaux et industriels:

• Capacité d'installation solaire cible cible: 3,5 GW
• Taille moyenne du projet: 500 kW à 5 MW
• Focus géographique: Chine, États-Unis, Inde, Moyen-Orient

Installateurs du système solaire résidentiel

Détails du segment du marché résidentiel:

Région	Pénétration du marché	Taille moyenne du système
Chine	18%	10-15 kW
États-Unis	7%	8-12 kW

Projets gouvernementaux d'énergie renouvelable

Métriques d'engagement du projet gouvernemental:

• Total des contrats de projet gouvernemental: 42 contrats mondiaux
• Capacité cumulée du projet gouvernemental: 6,3 GW
• Valeur du contrat moyen: 85 millions de dollars

Investisseurs internationaux d'infrastructure solaire

Segment des investissements internationaux overview:

Catégorie d'investissement	Valeur d'investissement totale	Propagation géographique
Infrastructure solaire	2,4 milliards de dollars	15 pays

Jinkosolar Holding Co., Ltd. (JKS) - Modèle d'entreprise: Structure des coûts

Équipement de fabrication et entretien

En 2023, Jinkosolar a déclaré des dépenses en capital d'environ 336,4 millions de dollars pour les améliorations de l'infrastructure et de l'équipement de fabrication.

Catégorie d'équipement	Coût de maintenance annuel
Lignes de production de panneaux solaires	42,5 millions de dollars
Équipement de fabrication de plaquettes	28,3 millions de dollars
Machinerie de production cellulaire	35,6 millions de dollars

Investissements de recherche et développement

Jinkosolar alloué 132,7 millions de dollars pour les frais de recherche et de développement au cours de l'exercice 2023.

• Recherche d'amélioration de l'efficacité des cellules solaires: 48,2 millions de dollars
• Développement des nouvelles technologies: 54,5 millions de dollars
• Investissements de brevet et de propriété intellectuelle: 30 millions de dollars

Achat de matières premières

Le total des coûts d'achat de matières premières pour 2023 1,84 milliard de dollars.

Matière première	Coût d'achat annuel
Polysilicon	892 millions de dollars
Pâte d'argent	214 millions de dollars
Substrat de verre	336 millions de dollars
Cadres en aluminium	398 millions de dollars

Frais de logistique et de distribution mondiaux

Les coûts de logistique et de distribution mondiaux de Jinkosolar en 2023 se sont élevés à 276,5 millions de dollars.

• Expédition internationale: 142,3 millions de dollars
• Frais de douane et d'importation / d'exportation: 64,2 millions de dollars
• Entreposage et stockage: 70 millions de dollars

Rémunération et formation de la main-d'œuvre

Les dépenses totales liées à la main-d'œuvre pour 2023 étaient 412,6 millions de dollars.

Catégorie de dépenses	Coût annuel
Salaires de base	298,4 millions de dollars
Avantages sociaux	72,3 millions de dollars
Formation et développement	41,9 millions de dollars

Jinkosolar Holding Co., Ltd. (JKS) - Modèle d'entreprise: Strots de revenus

Ventes d'équipements de panneau solaire

En 2023, Jinkosolar a déclaré un chiffre d'affaires total de ventes d'équipements de panneaux solaires de 6,82 milliards de dollars. La société a expédié environ 78,9 GW de modules solaires dans le monde.

Région	Revenus de vente	Part de marché
Chine	3,45 milliards de dollars	22.7%
Marchés internationaux	3,37 milliards de dollars	18.5%

Contrats de développement de projets solaires

Les revenus de développement de projets de Jinkosolar ont atteint 1,24 milliard de dollars en 2023, avec des projets clés dans:

• États-Unis
• Moyen-Orient
• Asie du Sud-Est

Accords de licence de technologie

Les licences technologiques ont généré 87,5 millions de dollars de revenus pour 2023, avec 5 principaux accords de transfert de technologie.

Services d'installation du système énergétique

Les services d'installation ont contribué 456,3 millions de dollars aux revenus totaux en 2023, couvrant les installations solaires commerciales et à l'échelle des services publics.

Type d'installation	Revenu	Nombre de projets
Commercial	276,4 millions de dollars	187 Projets
Échelle des services publics	179,9 millions de dollars	62 projets

Solutions d'énergie solaire basées sur les performances

Les contrats de performance ont généré 213,6 millions de dollars en 2023, avec une durée de contrat moyenne de 15 ans.

• Garantie de performance annuelle moyenne: 98,5%
• Valeur du contrat de performance total: 3,2 milliards de dollars

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.