Why Shanghai-Based Photovoltaic Company JinkoSolar's Shares Are Skyrocketing Today
Portfolio Pulse from Akanksha Bakshi
JinkoSolar Holding Co Ltd (NYSE:JKS) reported a 63.1% YoY revenue growth in Q3 FY23, beating consensus estimates. The increase is attributed to higher solar module shipments due to global demand. The company's gross margin expanded to 19.3% from 15.7% in 3Q22. JinkoSolar expects its Q4 module shipments to be around 23 GW and is confident that its full-year module shipments will exceed the guidance of 70 to 75 GW. The company's shares are trading higher by 17.11%.
October 30, 2023 | 2:43 pm
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POSITIVE IMPACT
JinkoSolar's Q3 FY23 revenue growth and positive outlook for Q4 and full-year module shipments have led to a 17.11% increase in its share price.
JinkoSolar's strong Q3 FY23 results, which beat consensus estimates, and its positive outlook for Q4 and full-year module shipments have positively impacted investor sentiment, leading to a significant increase in its share price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100