Jinkosolar Holding Co., Ltd. (JKS): Modelo de Negócios Canvas [Jan-2025 Atualizado]

Na paisagem em rápida evolução da energia renovável, a Jinkosolar Holding Co., Ltd. surge como uma força pioneira, transformando a indústria solar por meio de seu modelo de negócios inovador e abrangente. Ao integrar estrategicamente as capacidades tecnológicas de ponta com uma visão global, o Jinkosolar se posicionou como um jogador transformador em soluções de energia sustentável, oferecendo tecnologias solares de alta eficiência que desafiam os paradigmas tradicionais de geração de energia. Sua tela de modelo de negócios meticulosamente criada revela um complexo ecossistema de parcerias estratégicas, recursos avançados de fabricação e uma abordagem holística da energia renovável que vai muito além da produção simples de painel.

Jinkosolar Holding Co., Ltd. (JKS) - Modelo de negócios: Parcerias -chave

Colaboração estratégica com fabricantes globais de equipamentos solares

A Jinkosolar mantém parcerias estratégicas com vários fabricantes globais de equipamentos solares, com foco na integração tecnológica avançada e na eficiência da produção.

Empresa parceira	Foco em parceria	Ano de colaboração
Trina Solar	Troca de tecnologia	2022
Solar canadense	Otimização de fabricação	2023
Energia verde longi	Inovação de células solares	2023

Joint ventures com desenvolvedores internacionais de energia renovável

A Jinkosolar estabeleceu joint ventures internacionais significativos para expandir a presença global do mercado.

• Joint venture com a empresa de energia renovável brasileira Neoen
• Parceria estratégica com o desenvolvedor renovável indiano renovar poder
• Colaboração com o desenvolvedor de projetos solares australianos First Solar

Parcerias de tecnologia com instituições de pesquisa

Jinkosolar colabora com as principais instituições de pesquisa para avançar no desenvolvimento da tecnologia solar.

Instituição de pesquisa	Foco na pesquisa	Valor do investimento
Instituto de Tecnologia de Massachusetts	Eficiência fotovoltaica	US $ 3,5 milhões
Instituto Fraunhofer	Materiais de células solares	US $ 2,8 milhões

Acordos da cadeia de suprimentos com fornecedores de componentes de silício e painel solar

Jinkosolar mantém parcerias robustas da cadeia de suprimentos para garantir uma produção consistente de painéis solares de alta qualidade.

• Contrato de fornecimento de polissilício com a tecnologia de integração do sistema GCL
• Contrato de longo prazo com o fabricante de silício com sede em Xinjiang
• Parceria de fornecimento de componentes com Zhonghuan Semiconductor

Investimento total de parceria em 2023: US $ 124,6 milhões

Jinkosolar Holding Co., Ltd. (JKS) - Modelo de negócios: Atividades -chave

Fabricação e produção de painéis solares

Capacidade anual de produção do painel solar: 55 GW em 2023

Locais de fabricação	Capacidade anual
China	40 GW
Malásia	15 GW

Pesquisa e desenvolvimento de tecnologias fotovoltaicas

Investimento de P&D em 2022: US $ 187,3 milhões

• Pessoal total de P&D: 1.150 funcionários
• Pedidos de patente arquivados: 238 em 2022
• Foco atual: tecnologias de células solares de alta eficiência

Desenvolvimento e Engenharia Global de Projetos Solares

Região	Implantação do projeto
China	12.5 GW
Mercados internacionais	7.3 GW

Design e otimização do sistema de energia renovável

Portfólio total de projetos globais: 18,2 GW a partir de 2023

• Projetos solares em escala de utilidade: 15,6 GW
• Projetos de geração distribuída: 2.6 GW

Implementação de solução de energia sustentável

Total Global Sustainable Energy Investments: US $ 2,4 bilhões em 2022

Tipo de tecnologia	Alocação de investimento
Tecnologia Mono Perc	US $ 980 milhões
Tecnologia de heterojunção	US $ 560 milhões
TECNOLOGIA TOPCON	US $ 860 milhões

Jinkosolar Holding Co., Ltd. (JKS) - Modelo de negócios: Recursos -chave

Instalações de fabricação avançadas na China

O Jinkosolar opera várias instalações de fabricação com uma capacidade anual de produção anual total de 37,5 GW para módulos solares a partir de 2023. As principais bases de fabricação da empresa estão localizadas em:

Localização	Capacidade de produção anual
Shangrao, província de Jiangxi	15 GW
Leqing, província de Zhejiang	10 GW
Outras instalações	12.5 GW

Portfólio de propriedade intelectual extensa

A partir de 2023, Jinkosolar detém:

• Mais de 1.200 patentes globais
• Aproximadamente 350 patentes relacionadas às tecnologias de células solares e módulos
• Registros de patentes em mercados -chave, incluindo China, Estados Unidos, Europa e Japão

Recursos de P&D tecnológicos fortes

Investimento e capacidades de P&D:

• Despesas anuais de P&D de US $ 98,3 milhões em 2022
• 3 centros de P&D dedicados na China
• Mais de 500 profissionais de P&D

Engenharia qualificada e força de trabalho técnica

Categoria de força de trabalho	Número de funcionários
Total de funcionários	16,500
Equipe de engenharia	2,800
Profissionais de P&D	500

Rede de Distribuição Global e Vendas

Detalhes da presença do mercado global:

• Vendas em mais de 30 países
• Escritórios de vendas internacionais nos Estados Unidos, Alemanha, Japão, Cingapura e Austrália
• Remessas de módulos globais de 20,6 GW em 2022

Jinkosolar Holding Co., Ltd. (JKS) - Modelo de negócios: proposições de valor

Tecnologias de painéis solares de alta eficiência

A eficiência do painel solar de Jinkosolar atinge 24.79% por seus módulos solares do tipo Tiger NEO n. 26.5%.

Tipo de módulo	Faixa de eficiência	Saída de energia
Tiger Neo N-Type	24.79%	580-610W
Heterojunção (HJT)	26.5%	540-570W

Soluções de energia renovável competitiva para custos

O custo de fabricação de Jinkosolar por watt é aproximadamente $0.20 Em 2024, posicionar a empresa competitivamente no mercado solar global.

• Capacidade anual de produção: 55 GW
• Custo de energia nivelado (LCOE): $0.04-$0.06 por kwh

Produtos de energia sustentável e ambientalmente amigável

As métricas de redução de pegada de carbono de Jinkosolar demonstram benefícios ambientais significativos.

Métrica ambiental	Impacto anual
As emissões de CO2 evitaram	15,2 milhões de toneladas métricas
Geração de energia limpa	25,3 GWh

Tecnologia solar inovadora com desempenho comprovado

A inovação tecnológica de Jinkosolar é evidenciada por seu Garantia de desempenho linear de 25 anos e taxa de degradação de 0.4% anualmente.

Ofertas abrangentes de ecossistemas de energia solar

A empresa fornece soluções solares de ponta a ponta em vários segmentos de mercado.

• Sistemas solares residenciais
• Instalações comerciais e industriais
• Projetos solares em escala de utilidade
• Soluções de armazenamento de energia

Segmento de mercado	Quota de mercado	Receita anual
residencial	22%	US $ 1,2 bilhão
Comercial/Industrial	35%	US $ 1,8 bilhão
Escala de utilidade	43%	US $ 2,3 bilhões

Jinkosolar Holding Co., Ltd. (JKS) - Modelo de negócios: Relacionamentos do cliente

Suporte de vendas diretas para projetos em larga escala

Jinkosolar mantém uma equipe de vendas global dedicada com presença em 24 países. Em 2023, a empresa registrou 69,8 GW de remessas totais de módulos solares em todo o mundo.

Região	Tamanho da equipe de suporte de vendas	Capacidade de suporte ao projeto
China	45 profissionais	Suporte anual do projeto de 25 GW
Europa	22 profissionais	15 suporte anual do projeto GW
Américas	18 profissionais	Suporte anual do projeto de 12 GW

Serviços técnicos de consulta e engenharia

O Jinkosolar fornece suporte técnico abrangente por meio de equipes de engenharia especializadas.

• 24/7 de consulta técnica Linha direta
• Design de solução solar personalizada
• Serviços de avaliação técnica no local
• Recomendações de otimização de desempenho

Plataformas de engajamento de clientes online

Os canais de interação do cliente digital incluem:

Plataforma	Usuários ativos	Recursos de serviço
Portal do cliente	8.500 usuários registrados	Rastreamento de projetos em tempo real
Site de suporte técnico	12.000 visitantes mensais	Documentação e solução de problemas

Abordagem de parceria de longo prazo

A Jinkosolar mantém parcerias estratégicas com os principais clientes em segmentos de utilidade, comerciais e residenciais.

• 87 acordos de estrutura de longo prazo em 2023
• Duração média da parceria: 5,3 anos
• Taxa repetida do cliente: 76%

Sistemas abrangentes de suporte pós-venda

Serviços de garantia e manutenção estruturados nos mercados globais.

Categoria de suporte	Período de cobertura	Tempo de resposta do serviço
Garantia do produto	12-25 anos	48 horas
Garantia de desempenho	25 anos	72 horas

Jinkosolar Holding Co., Ltd. (JKS) - Modelo de negócios: canais

Equipe de vendas diretas

Jinkosolar mantém uma equipe global de vendas diretas em 7 escritórios regionais, incluindo locais na China, Alemanha, Japão, Cingapura, Estados Unidos, Brasil e Austrália.

Região	Tamanho da equipe de vendas	Volume anual de vendas
China	85 representantes	4.2 Módulos solares GW
Europa	62 representantes	2.8 Módulos solares GW
América do Norte	45 representantes	3.1 Módulos solares GW

Plataformas de marketing digital online

Jinkosolar utiliza vários canais digitais para o envolvimento do cliente:

• Site oficial: www.jinkosolar.com
• LinkedIn: 95.000 seguidores
• Twitter: 38.000 seguidores
• YouTube: 22.000 assinantes

Exposições de comércio de energia solar

Participação anual nas principais exposições solares globais:

Exposição	Localização	Participação anual
Europa intersolar	Munique, Alemanha	50.000 visitantes
Re+	Las Vegas, EUA	28.000 visitantes
Snec PV Power Expo	Xangai, China	180.000 visitantes

Redes de distribuidores estratégicos

Jinkosolar mantém parcerias globais de distribuição:

• Mais de 200 distribuidores autorizados em todo o mundo
• Presença em mais de 30 países
• Principais parceiros de distribuição na Europa, América do Norte e Ásia-Pacífico

Plataformas de produtos solares de comércio eletrônico

Os canais de vendas digitais incluem:

• Loja Online Jinkosolar oficial
• Amazon Solar Marketplace
• Plataforma Alibaba B2B
• Plataformas regionais de comércio eletrônico na China, EUA e Europa

Plataforma de comércio eletrônico	Volume anual de vendas on -line	Valor médio da transação
Jinkosolar Store Oficial	1.2 módulos solares GW	US $ 250.000 por transação
Amazon Solar Marketplace	0,5 módulos solares GW	US $ 75.000 por transação

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

Desenvolvedores de energia solar em escala de utilidade

Jinkosolar serve desenvolvedores de energia solar em escala de utilidade com métricas de mercado específicas:

Segmento de mercado	Participação de mercado global	Volume anual do projeto
Desenvolvedores solares em escala de utilidade	12.5%	8.2 GW em 2023

Consumidores de energia comercial e industrial

Principais características do cliente para segmentos comerciais e industriais:

• Capacidade anual de instalação solar anual: 3,5 GW
• Tamanho médio do projeto: 500 kW a 5 MW
• Foco geográfico: China, Estados Unidos, Índia, Oriente Médio

Instaladores de sistemas solares residenciais

Detalhes do segmento de mercado residencial:

Região	Penetração de mercado	Tamanho médio do sistema
China	18%	10-15 KW
Estados Unidos	7%	8-12 KW

Projetos de energia renovável do governo

Métricas de engajamento do projeto do governo:

• Contratos totais do projeto do governo: 42 contratos globais
• Capacidade cumulativa do projeto do governo: 6.3 GW
• Valor médio do contrato: US $ 85 milhões

Investidores internacionais de infraestrutura solar

Segmento de investimento internacional overview:

Categoria de investimento	Valor total de investimento	Propagação geográfica
Infraestrutura solar	US $ 2,4 bilhões	15 países

Jinkosolar Holding Co., Ltd. (JKS) - Modelo de negócios: estrutura de custos

Equipamento e manutenção de fabricação

Em 2023, Jinkosolar registrou despesas de capital de aproximadamente US $ 336,4 milhões para atualizações de infraestrutura e equipamentos de fabricação.

Categoria de equipamento	Custo de manutenção anual
Linhas de produção de painéis solares	US $ 42,5 milhões
Equipamento de fabricação de bolacha	US $ 28,3 milhões
Máquinas de produção de células	US $ 35,6 milhões

Investimentos de pesquisa e desenvolvimento

Jinkosolar alocado US $ 132,7 milhões Para despesas de pesquisa e desenvolvimento no ano fiscal de 2023.

• Pesquisa de melhoria de eficiência de células solares: US $ 48,2 milhões
• Desenvolvimento de novas tecnologias: US $ 54,5 milhões
• Investimentos de propriedade patente e intelectual: US $ 30 milhões

Aquisição de matéria -prima

Os custos totais de compra de matéria -prima para 2023 foram US $ 1,84 bilhão.

Matéria-prima	Custo anual de compras
Polissilício	US $ 892 milhões
Pasta de prata	US $ 214 milhões
Substrato de vidro	US $ 336 milhões
Quadros de alumínio	US $ 398 milhões

Despesas globais de logística e distribuição

Os custos de logística e distribuição globais de Jinkosolar em 2023 totalizaram US $ 276,5 milhões.

• Envio internacional: US $ 142,3 milhões
• Alfândega e taxas de importação/exportação: US $ 64,2 milhões
• Armazenamento e armazenamento: US $ 70 milhões

Compensação e treinamento da força de trabalho

As despesas totais relacionadas à força de trabalho para 2023 foram US $ 412,6 milhões.

Categoria de despesa	Custo anual
Salários da base	US $ 298,4 milhões
Benefícios dos funcionários	US $ 72,3 milhões
Treinamento e desenvolvimento	US $ 41,9 milhões

Jinkosolar Holding Co., Ltd. (JKS) - Modelo de negócios: fluxos de receita

Vendas de equipamentos de painel solar

Em 2023, Jinkosolar registrou uma receita total de vendas de equipamentos de painel solar de US $ 6,82 bilhões. A empresa enviou aproximadamente 78,9 GW de módulos solares globalmente.

Região	Receita de vendas	Quota de mercado
China	US $ 3,45 bilhões	22.7%
Mercados internacionais	US $ 3,37 bilhões	18.5%

Contratos de Desenvolvimento de Projetos Solares

A receita de desenvolvimento de projetos de Jinkosolar atingiu US $ 1,24 bilhão em 2023, com os principais projetos em:

• Estados Unidos
• Médio Oriente
• Sudeste Asiático

Acordos de licenciamento de tecnologia

O licenciamento de tecnologia gerou US $ 87,5 milhões em receita para 2023, com 5 principais acordos de transferência de tecnologia.

Serviços de instalação do sistema energético

Os serviços de instalação contribuíram com US $ 456,3 milhões para a receita total em 2023, cobrindo instalações solares comerciais e em escala de utilidade.

Tipo de instalação	Receita	Número de projetos
Comercial	US $ 276,4 milhões	187 projetos
Escala de utilidade	US $ 179,9 milhões	62 projetos

Soluções de energia solar baseadas em desempenho

Os contratos de desempenho geraram US $ 213,6 milhões em 2023, com uma duração média do contrato de 15 anos.

• Garantia média anual de desempenho: 98,5%
• Valor total do contrato de desempenho: US $ 3,2 bilhões

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.