Technology
Lanvin Group Reports H1 2026 Revenue of €101 Million
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Improving Momentum Positions the Group for Sustainable Growth
Group revenue was €101 million in H1 2026, down 13% versus H1 2025, reflecting the Group’s ongoing brand transformation and the strategic optimization of its retail footprint with store network reduced to 151 directly operated stores. Group e-commerce returned to growth.Gross profit margin expanded to 59%, up 1.29 pp(1) year-on-year, as improved sell-through, more effective product lifecycle management and efficiency programs across major brands took effect.Gross profitability improved markedly, with Contribution Profit and Adjusted EBITDA margins up 7.7 and 10.7 pp(1) respectively.Brand highlights include like-for-like growth across boutiques and a well-received FW26 Paris runway at Lanvin, resilient trading and gross margin expansion to 60% at Wolford, early wholesale momentum building at Sergio Rossi, and continued strength at St. John with e-commerce up 31% in its reporting currency and a stable 70% gross margin.Group-wide priorities in H2 2026 include advancing the reset and transformation agenda; unlocking new revenue opportunities across markets, channels and categories; accelerating strategic partnerships and collaborations; maintaining disciplined cost, working capital and cash management while selectively investing behind growth; and continuing to optimize the Group’s brand portfolio.
SHANGHAI, Aug. 26, 2026 /PRNewswire/ — Lanvin Group (NYSE: LANV, the “Group”), a global luxury fashion group with Lanvin, Wolford, Sergio Rossi and St. John in its portfolio of brands, today announced its unaudited results for the first half of 2026. Against a still-transitional luxury market, the Group delivered a marked improvement in gross profitability, underpinned by strong cost discipline, operational efficiency and the continued execution of its strategic transformation.
Group revenue for H1 2026 was €101 million, down 13% year-on-year, primarily driven by the planned optimization of the retail footprint and the Group’s ongoing brand transformation. Despite lower revenue, the Group delivered gross profit of €59 million at a margin of 59%, an improvement from prior-year period, supported by improved sell-through, disciplined inventory management and efficiency initiatives across major brands. Strong cost control delivered a substantial reduction in losses, as a result of the Group’s efficiency improvement initiatives.
Zhen Huang, Chairman of Lanvin Group, said: “The first half represented an encouraging step forward for the Group. Supported by renewed creative and executive leadership across our houses, we are confident in our ability to progressively unlock the long-term potential of our brands amid market challenges.”
Andy Lew, Executive President of Lanvin Group, said: “We have reshaped how the Group operates—emerging leaner, more agile and materially more efficient. With that foundation in place, the second half is about further execution: activating our new creative and commercial leadership, sharpening our channel mix, and through its directly owned and licensing businesses, bringing a compelling pipeline of collections to market to reignite brand desirability and consumer engagement.”
Review of the First Half 2026 Results
Lanvin Group Revenue by Brand
€ in Thousands, unless otherwise noted
2025(2)
2026
2026H1 vs
2025H1
H1
H1
Lanvin
27,932
22,924
-17.9 %
Wolford
32,985
31,017
-6.0 %
St. John
39,654
35,505
-10.5 %
Sergio Rossi
15,314
10,932
-28.6 %
Total Brand
115,885
100,378
-13.4 %
Eliminations, other and holding companies
-117
418
NM
Total Group
115,768
100,796
-12.9 %
Lanvin Group Consolidated P&L
€ in Thousands, unless otherwise noted
2025(2)
2026
H1
%
H1
%
Revenue
115,768
100.0 %
100,796
100.0 %
Gross profit
66,823
57.7 %
59,486
59.0 %
Contribution profit
-19,162
-16.6 %
-8,936
-8.9 %
Adjusted EBITDA
-52,179
-45.1 %
-34,622
-34.3 %
Review of First Half 2026 Financials
Revenue
For H1 2026, the Group generated revenue of €101 million, a 12.9% decrease year-over-year. The decline primarily reflected the planned rationalization of the retail network and the Group’s strategic brand transformation, partially offset by encouraging like-for-like retail performance. Within DTC, Group e-commerce returned to growth, driven by a strong recovery and sustained momentum at Wolford and St. John. Retail footprint optimization continued through H1, with the store network reduced to 151 directly operated stores as the Group continues to rationalize underperforming locations and strengthen the productivity of its retail network.
Gross Profit
Gross profit was €59 million, representing a margin of 59.0%, compared to 57.7% in H1 2025. The 1.29 pp(1) improvement was driven by stronger sell-through, more effective product lifecycle management and supply chain efficiencies at Lanvin, Wolford and St. John.
Contribution Profit
Contribution profit was -€9 million in the first half, a €10 million improvement from the prior-year period. The improvement was driven primarily by lower selling expenses following the strategic rationalization of the retail network, alongside broader cost discipline across the Group, offsetting the impact of lower revenue.
Adjusted EBITDA
Adjusted EBITDA improved to -€35 million in H1 2026, from -€52 million in the prior-year period, representing a €17 million reduction in losses, as a result of disciplined cost management and operating efficiencies. The Group continued to invest selectively in creative initiatives and product development.
2026 Full-Year Outlook
The Group enters H2 2026 on a leaner, more agile platform and a materially improved cost base. The focus includes: pursuing new revenue opportunities across markets, channels and categories, and exploring new licensing and partnership opportunities. The Group will maintain disciplined cost, working capital and cash management while investing selectively in high-return opportunities. Across the portfolio, Lanvin will deepen client engagement and asset-light partnerships, Wolford will accelerate wholesale and e-commerce, Sergio Rossi will build on the strong reception of its SS27 collection, and St. John will harness its new creative leadership and upcoming capsules.
Note (1): pp stands for percentage points, representing the arithmetic difference between two percentages.
(2) At the end of 2025, the Group approved the strategic carve-out of Caruso. In accordance with IFRS 5, Caruso is presented as a discontinued operation, with prior periods restated for comparability. The sale was completed on February 6, 2026.
Note: Unless otherwise stated, all percentage changes are calculated on an actual currency basis.
Note: Numbers may not sum precisely due to rounding.
Note: This communication includes certain non-IFRS financial measures such as Contribution Profit, Contribution Profit Margin, and adjusted earnings before interest, taxes, depreciation and amortization (“Adjusted EBITDA”). Please see Use of Non-IFRS Financial Metrics and Non-IFRS Financial Measures and Definition.
Semi-Annual Report
Our semi-annual report, including the interim condensed consolidated financial statements as of and for the six months ended June 30, 2026, can be downloaded from the Company’s investor relations website (ir.lanvin-group.com) under the section Financials / SEC Filings, or from the SEC’s website (www.sec.gov).
Conference Call
As previously announced, today at 8:00AM EST/8:00PM CST/2:00PM CET, Lanvin Group will host a conference call to discuss its results for the first half of 2026 and provide an outlook for the remainder of the year. Management will refer to a slide presentation during the call, which will be made available on the day of the call. To view the presentation, please visit the “Events” tab of the Group’s investor relations website at https://ir.lanvin-group.com.
All participants who would like to join the conference call must pre-register using the link provided below. Once the registration is complete, participants will receive dial-in numbers, a passcode, and a registrant ID which can be used to join the conference call. Participants may register at any time, including up to and after the call starts.
Registration Link:
https://dpregister.com/sreg/10211387/104b342f75c
A replay of the conference call will be accessible approximately one hour after the live call until September 1, 2026, by dialing the following numbers:
USA/Canada Toll-Free: 1-855-669-9658
International Toll: 1-412-317-0088
Replay Access Code: 1329150
A recorded webcast of the conference call and a slide presentation will also be available on the Group’s investor relations website at https://ir.lanvin-group.com.
About Lanvin Group
Lanvin Group is a leading global luxury fashion group headquartered in Shanghai, China and Milan, Italy, managing iconic brands worldwide including Lanvin, Wolford, Sergio Rossi and St. John. Harnessing the power of its unique strategic alliance of industry-leading partners in the luxury fashion sector, Lanvin Group strives to expand the global footprint of its portfolio brands and achieve sustainable growth through strategic investment and extensive operational know-how, combined with an understanding and unparalleled access to the fastest-growing luxury fashion markets in the world. The shares of Lanvin Group are listed on the New York Stock Exchange under the ticker symbol ‘LANV’. For more information about Lanvin Group, please visit www.lanvin-group.com, and to view our investor presentation, please visit https://ir.lanvin-group.com.
Forward-Looking Statements
This communication, including the section “2026 Full-Year Outlook”, contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,” “predict,” “potential,” “seem,” “seek,” “future,” “outlook,” “project” and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding estimates and forecasts of other financial and performance metrics and projections of market opportunity. These statements are based on various assumptions, whether or not identified in this communication, and on the current expectations of Lanvin Group’s management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and must not be relied on by an investor as a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of Lanvin Group. Potential risks and uncertainties that could cause the actual results to differ materially from those expressed or implied by forward-looking statements include, but are not limited to, changes adversely affecting the business in which Lanvin Group is engaged; Lanvin Group’s projected financial information, anticipated growth rate, profitability and market opportunity may not be an indication of its actual results or future results; management of growth; the impact of public health crises on Lanvin Group’s business; Lanvin Group’s ability to safeguard the value, recognition and reputation of its brands and to identify and respond to new and changing customer preferences; the ability and desire of consumers to shop; Lanvin Group’s ability to successfully implement its business strategies and plans; Lanvin Group’s ability to effectively manage its advertising and marketing expenses and achieve desired impact; its ability to accurately forecast consumer demand; high levels of competition in the personal luxury products market; disruptions to Lanvin Group’s distribution facilities or its distribution partners; Lanvin Group’s ability to negotiate, maintain or renew its license agreements; Lanvin Group’s ability to protect its intellectual property rights; Lanvin Group’s ability to attract and retain qualified employees and preserve craftsman skills; Lanvin Group’s ability to develop and maintain effective internal controls; general economic conditions; the result of future financing efforts; and those factors discussed in the reports filed by Lanvin Group from time to time with the SEC. If any of these risks materialize or Lanvin Group’s assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that Lanvin Group presently does not know, or that Lanvin Group currently believes are immaterial, that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect Lanvin Group’s expectations, plans, or forecasts of future events and views as of the date of this communication. Lanvin Group anticipates that subsequent events and developments will cause Lanvin Group’s assessments to change. However, while Lanvin Group may elect to update these forward-looking statements at some point in the future, Lanvin Group specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing Lanvin Group’s assessments of any date subsequent to the date of this communication. Accordingly, reliance should not be placed upon the forward-looking statements.
Use of Non-IFRS Financial Metrics
This communication includes certain non-IFRS financial measures such as Contribution Profit, Contribution Profit Margin, Adjusted Operating Profit, adjusted earnings before interest and taxes (“Adjusted EBIT”), and adjusted earnings before interest, taxes, depreciation and amortization (“Adjusted EBITDA”). These non-IFRS measures are an addition, and not a substitute for or superior to measures of financial performance prepared in accordance with IFRS and should not be considered as an alternative to net income, operating income or any other performance measures derived in accordance with IFRS. Reconciliations of non-IFRS measures to their most directly comparable IFRS counterparts are included in the Appendix to this communication. Lanvin Group believes that these non-IFRS measures of financial results provide useful supplemental information to investors about Lanvin Group. Lanvin Group believes that the use of these non-IFRS financial measures provides an additional tool for investors to use in evaluating projected operating results and trends and in comparing Lanvin Group’s financial measures with other similar companies, many of which present similar non-IFRS financial measures to investors. However, there are a number of limitations related to the use of these non-IFRS measures and their nearest IFRS equivalents. For example, other companies may calculate non-IFRS measures differently, or may use other measures to calculate their financial performance, and therefore Lanvin Group’s non-IFRS measures may not be directly comparable to similarly titled measures of other companies. Lanvin Group does not consider these non-IFRS measures in isolation or as an alternative to financial measures determined in accordance with IFRS. The principal limitation of these non-IFRS financial measures is that they exclude significant expenses, income and tax liabilities that are required by IFRS to be recorded in Lanvin Group’s financial statements. In addition, they are subject to inherent limitations as they reflect the exercise of judgements by Lanvin Group about which expense and income are excluded or included in determining these non-IFRS financial measures. In order to compensate for these limitations, Lanvin Group presents non-IFRS financial measures in connection with IFRS results.
Non-IFRS Financial Measures and Definitions
Our management monitors and evaluates operating and financial performance using several non-IFRS financial measures including: Contribution Profit, Contribution Profit Margin, Adjusted Operating Profit, Adjusted EBIT and Adjusted EBITDA. Our management believes that these non-IFRS financial measures provide useful and relevant information regarding our performance and improve their ability to assess financial performance and financial position. They also provide comparable measures that facilitate management’s ability to identify operational trends, as well as make decisions regarding future spending, resource allocations and other operational decisions. While similar measures are widely used in the industry in which we operate, the financial measures that we use may not be comparable to other similarly named measures used by other companies nor are they intended to be substitutes for measures of financial performance or financial position as prepared in accordance with IFRS.
Contribution Profit is defined as revenue less the cost of sales and selling and marketing expenses. Contribution Profit subtracts the main variable expenses of selling and marketing expenses from Gross Profit, and our management believes this measure is an important indicator of profitability at the marginal level. Below contribution profit, the main expenses are general administrative expenses and other operating expenses (which include foreign exchange gains or losses and impairment losses). As we continue to improve the management of our portfolio brands, we believe we can achieve greater economy of scale across the different brands by maintaining the fixed expenses at a lower level as a proportion of revenue. We therefore use Contribution Profit Margin as a key indicator of profitability at the group level as well as the portfolio brand level.
Contribution Profit Margin is defined as Contribution Profit divided by revenue.
Adjusted EBITDA is defined as profit or loss before income taxes, net finance cost, exchange gains/(losses), depreciation, amortization, share-based compensation and provisions and impairment losses adjusted for income and costs which are significant in nature and that management considers not reflective of underlying operational activities, mainly including net gains on disposal of long-term assets, gain on debt restructuring and government grants.
Enquiries:
Media & Investors
Lanvin Group
Ross Luo
ross.luo@lanvin-group.com
Coco Wang
coco.wang@lanvin-group.com
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SOURCE Lanvin Group
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Singlewire Software Report Finds K-12 Emergency Readiness Is Built in the Daily Routine
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An analysis of more than 19.5 million notifications from approximately 16,000 schools shows that 92% of K-12 communication is routine — and that the systems schools trust in a crisis are the ones they rely on every day.
Key Facts:
Not a survey: Drawn from actual usage across approximately 16,000 K-12 schools during the 2025–26 school year.Routine builds readiness: Operational messages account for 92% of K-12 notifications, so the systems used in a crisis are already familiar before one arises.Email outpaces app alerts: 76.7% of schools used email: more than mobile app push (56.5%) or text (53.1%).Threats don’t watch the clock: More than 52,000 emergency messages went out on weekends, with a rise in overnight activity between 11 p.m. and 2 a.m.
MADISON, Wis., Aug. 26, 2026 /PRNewswire/ — The best time to prepare a school for an emergency is every day before it. New data from Singlewire Software shows that routine communication makes up the vast majority of activity across K-12 schools, and that this everyday use forms the foundation for a confident emergency response.
Singlewire Software’s The State of K-12 Critical Communications: 2025–26 School Year report analyzes actual notification activity from approximately 16,000 K-12 schools that use the Singlewire InformaCast critical communication and incident management platform. The analysis covers more than 19.5 million notifications and more than 343 million device activations across the full 2025–26 school year.
Unlike a survey, the report offers a system-of-record view of how schools genuinely used their communication systems, message by message, throughout the year.
“Emergency readiness is built long before an emergency happens,” said Terry Swanson, president and CEO of Singlewire Software. “When staff use their communication systems every day, those systems become familiar infrastructure instead of something to figure out under pressure. This data shows that everyday reliability is the foundation of emergency readiness.”
The Numbers Tell a Clear Story
Across the K-12 schools analyzed:
92% of notifications were operational communications; only 8% were emergency alerts.Automated bell schedules accounted for 60% of messaging and live paging for another 28% — together, roughly 88% of everything schools sent.80% of emergency communications occurred during the school day, peaking between 8 and 9 a.m. as students arrived and moved between classes.Emergency communication ran about 23% higher on Wednesdays and Thursdays than on Mondays, the quietest weekday.85.9% of schools used in-building devices such as speakers, phones, and displays, while 76.7% used email: more than mobile app push (56.5%) or text (53.1%).Smaller districts sent roughly three times more messages per student than large districts (a median of about 6.5 versus 2.0), because communication scales with the number of buildings rather than total enrollment.
Lockdown Dominates Real-World Emergency Communication, Drills Show a Different Mix
The “I Love U Guys” Foundation’s five standard response protocols are Hold, Secure, Lockdown, Evacuate, and Shelter, and they are used by tens of thousands of schools across the country. Of those five actions, Lockdown accounted for approximately 72% of real-world emergency message volume, nearly 10 times the combined volume of the other four. Singlewire Software is a proud mission partner of The “I Love U Guys” Foundation.
“A shared response vocabulary works best when schools exercise it consistently,” Swanson said. “Seeing how much communication each action generates, in both real activity and drills, gives school leaders a starting point to ask whether their communication patterns line up with their training.”
Emergency Communication Doesn’t Stop at Dismissal
The data also shows why districts should plan beyond the traditional school day. Schools sent about 52,000 emergency notifications on weekends, and overnight activity rose between 11 p.m. and 2 a.m. — a window that can signal after-hours issues waiting to affect the next school day.
Because messaging volume scales by building rather than by district size, smaller districts see a much higher concentration of communication per student. That makes building-by-building coverage a key consideration for leaders managing campuses of any size.
What School Leaders Can Take From the Data
The findings point to several practical steps for K-12 leaders:
Use your communication systems every day. Daily use builds the familiarity that pays off in a crisis.Drill for real-world risks. Compare your drill communication with your real-world activity so the two patterns stay aligned.Layer your channels. In-building systems, mobile alerts, email, and text each reach people the others may miss.Plan for after-hours incidents. Safety communication needs continue during evenings, weekends, and overnight.Check coverage building by building. As districts grow, per-student reach thins, so confirm every facility and every person is covered regardless of enrollment.
The full report, The State of K-12 Critical Communications: 2025–26 School Year, is available at https://www.singlewire.com/ebooks/state-of-k12-critical-communications.
About Singlewire Software
Singlewire Software, based in Madison, Wis., is a trusted partner in safety and communication, dedicated to shaping a future where every organization can protect its people with confidence. The company delivers innovative solutions like InformaCast critical communication and incident management software, the InformaCast Wearable Alert Badge, and Visitor Aware visitor and safety management software. By enabling instant alerts, comprehensive reach, and rapid response, Singlewire Software empowers K-12, healthcare, manufacturing, higher education, and enterprise organizations to proactively manage critical events and foster secure environments. To learn more, visit: www.singlewire.com.
chris.swietllik@singlewire.com
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Technology
JinkoSolar Appoints New Chief Executive Officer
Published
4 minutes agoon
August 26, 2026By
SHANGRAO, China, Aug. 26, 2026 /PRNewswire/ — JinkoSolar Holding Co., Ltd. (“JinkoSolar” or the “Company”) (NYSE: JKS), a global leader in clean energy technology, today announced that Mr. Xiande Li has resigned as the chief executive officer of the Company, effective August 26, 2026. Mr. Wei “Dimi” Du will succeed Mr. Li as the chief executive officer of the Company, effective August 26, 2026. Mr. Li will continue serving as the chairman and chair of the compensation committee and the nominating and corporate governance committee of the board of directors. The resignation of Mr. Li was not due to any disagreement with the Company, and the Company does not believe this change to its senior management team will have any material impact on its business operations.
Mr. Du served as vice president of strategic investment at JinkoSolar since April 2026, having previously been the general manager of strategic investment and assistant to the chairman of JinkoSolar between December 2021 and March 2026, and the assistant to the chairman of Jinko Power Technology Co., Ltd. from February 2021 to December 2021. Prior to this, Mr. Du served as the executive general manager of investor relations at Shanghai Yuyuan Tourist Mart (Group) Co., Ltd. from October 2018 to January 2021. Mr. Du holds a BSc degree in accounting and finance from the University of Bristol and an MSc degree in finance from Imperial College London, United Kingdom.
“We are pleased to welcome Mr. Du as our chief executive officer,” commented Mr. Xiande Li, Chairman of JinkoSolar, “This transition is part of a carefully planned succession process. As we enter the next phase of development, this arrangement allows me to focus on our long-term strategy, board governance, and major strategic decisions, while our new CEO will lead management in overseeing day‑to‑day operations, strategic execution, and capital allocation at the group level. Dimi’s extensive experience in strategic investment and portfolio management ideally positions him to improve the quality of our operations and drive execution of our core solar and energy storage businesses and strategic investment activities.”
“I am honored to take on the role of chief executive officer,” said Mr. Wei “Dimi” Du, “Under Mr. Li’s leadership, JinkoSolar has generated sustainable growth and expanded its business globally. I am fully committed to driving the next chapter of our growth by further improving our operating quality and strategic execution, supporting the long-term development of our core solar and energy storage businesses, and pursuing disciplined capital allocation and strategic investment management. I look forward to working closely with the management team under the guidance of the board to create sustainable long-term value for our shareholders.”
About JinkoSolar Holding Co., Ltd.
JinkoSolar (NYSE: JKS) is a global leader in clean energy technology. JinkoSolar distributes its solar products and sells its solutions and services to a diversified international utility, commercial and residential customer base in 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 and other countries and regions.
JinkoSolar had over 10 production facilities globally, over 20 overseas subsidiaries in Japan, South Korea, Vietnam, India, Turkey, Germany, Italy, Switzerland, the United States, Mexico, and other countries, and a global sales network with sales teams in China, the United States, Canada, Brazil, Chile, Mexico, Italy, Germany, Turkey, Spain, Japan, the United Arab Emirates, Netherlands, Vietnam and India, as of June 30, 2026.
To find out more, please see: www.jinkosolar.com
Safe Harbor Statement
This press release contains forward-looking statements. These statements constitute “forward-looking” statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements. Among other things, the quotations from management in this press release and the Company’s operations and business outlook, contain forward-looking statements. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Further information regarding these and other risks is included in JinkoSolar’s filings with the U.S. Securities and Exchange Commission, including its annual report on Form 20-F. Except as required by law, the Company does not undertake any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.
For investor and media inquiries, please contact:
In China:
Ms. Stella Wang
JinkoSolar Holding Co., Ltd.
Tel: +86 21-5180-8777 ext.7806
Email: ir@jinkosolar.com
Mr. Christian Arnell
Christensen
Tel: +852 2117 0861
Email: christian.arnell@christensencomms.com
In the U.S.:
Email: jinko@christensencomms.com
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JinkoSolar Announces Second Quarter 2026 Financial Results
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August 26, 2026By
SHANGRAO, China, Aug. 26, 2026 /PRNewswire/ — JinkoSolar Holding Co., Ltd. (“JinkoSolar” or the “Company”) (NYSE: JKS), a global leader in clean energy technology, today announced its unaudited financial results for the second quarter ended June 30, 2026.
Second Quarter 2026 Business Highlights
Core Solar and Energy Storage Business Highlights
Total module shipments for the first half of 2026 were 29.6 GW, with approximately 70% shipped to overseas markets. By the end of the second quarter, we became the first module manufacturer in the world to have delivered a total of over 420 GW of solar modules, with total shipments of the Tiger Neo series surpassing 250 GW, making it the best-selling module series in our history.In June 2026, we set new performance benchmarks for our TOPCon modules with the launch of the next-generation Tiger Neo 5.0 module, featuring power output of over 700 W and module efficiency of up to 25.91%.Shipments of energy storage system for the first half of 2026 increased significantly year-over-year, accompanied by an expansion in gross margin.
Strategic Investment Highlights
During the second quarter, the Company, together with investment funds in which it participates, completed strategic investments across 13 projects in renewable energy, advanced materials, AI, and other frontier technologies.During the first half of 2026, the Company disposed of a substantial portion of its equity interest in LAPLACE Renewable Energy Technology Co., Ltd., generating over RMB300 million in cash proceeds. Since our initial investment, the cumulative realized gain on this disposal (net of cost and transaction fees) exceeded RMB250 million. This gain was recognized over multiple periods through fair value adjustments following its IPO in late 2024, with over RMB100 million recorded in change in fair value of long-term investment upon settlement in the first half of 2026.Additionally, our portfolio company, Hangzhou Gold Electronic Equipment Co., Ltd., successfully completed its public listing during the second quarter, marking an important milestone in the development of our strategic investment portfolio.
Second Quarter 2026 Operational and Financial Highlights
Quarterly shipments of solar modules were 15,961 MW, up 16.7% sequentially and down 34.4% year-over-year.Total revenues were RMB12.36 billion (US$1.82 billion), up 0.9% sequentially and down 31.3% year-over-year.Gross profit was RMB 513.1 million (US$75.6 million), down 49.6% sequentially and 2.5% year-over-year.Gross profit margin was 4.2%, compared with gross profit margin of 8.3% in Q1 2026 and gross profit margin of 2.9% in Q2 2025.Net loss attributable to JinkoSolar Holding Co., Ltd.’s ordinary shareholders was RMB697.3 million (US$102.8 million), compared with net loss attributable to JinkoSolar Holding Co., Ltd.’s ordinary shareholders of RMB463.5 million in Q1 2026 and net loss attributable to JinkoSolar Holding Co., Ltd.’s ordinary shareholders of RMB876.4 million in Q2 2025.Adjusted net loss attributable to JinkoSolar Holding Co., Ltd.’s ordinary shareholders was RMB910.8 million (US$134.2 million), which excludes the impact of (i) the change in fair value of long-term investment, (ii) gain from disposal of a subsidiary, and (iii) share-based compensation expenses, compared with adjusted net loss attributable to JinkoSolar Holding Co., Ltd.’s ordinary shareholders of RMB549.3 million in Q1 2026 and adjusted net loss attributable to JinkoSolar Holding Co., Ltd.’s ordinary shareholders of RMB856.4 million in Q2 2025.Basic and diluted losses per ordinary share were RMB3.30 (US$0.49) and RMB3.30 (US$0.49), respectively. This translates into basic and diluted losses per ADS of RMB13.19 (US$1.94) and RMB13.19 (US$1.94), respectively.
Mr. Dimi Du, JinkoSolar’s Chief Executive Officer, commented, “Module shipments increased sequentially to approximately 16 GW during the quarter, bringing first half module shipments to approximately 29.6 GW, once again at the forefront of industry. By the end of the second quarter, cumulative shipments of our high-efficiency N-type Tiger Neo series surpassed 250 GW, making it the best-selling module series in our history. Leveraging a sales network covering nearly 200 countries and regions and 35 service centers globally, shipments to overseas markets accounted for around 70% of the first half total. Supply and demand across the PV industry remain dynamic and with policy shifts in both domestic and overseas markets, prices along the supply chain and industry profitability continued to be under pressure. The cost of ramping up production of our high-efficiency products remained elevated during the quarter and impacted our gross margin and bottom line when combined with the delivery of certain low-value orders. In response, we optimized our order book and geographic mix, managed utilization rates, and continued to increase the proportion of high-efficiency products within our total shipments while introducing technologies that lower costs.
The PV industry is gradually shifting its focus from production capacity and shipment scale toward effective supply, product value, and earnings quality. The mandatory national energy efficiency standard for modules and inverters, released in July 2026, will take effect in January 2027 and sets minimum energy efficiency thresholds for market access. We are already seeing this shift in customer behavior, with the share of tenders for high-efficiency modules increasing significantly which also command a premium. The distributed PV market is likewise transitioning from scale-driven growth toward scenario-based and operational value. We believe these changes will benefit industry leaders such as ourselves, allowing us to capitalize on our advanced manufacturing capacity, technological expertise, established brands and global delivery capabilities.
We expect to have more than 40 GW of TOPCon 3.0 production capacity by the end of 2026. Based on the current standard requirements, the relevant products are expected to meet the Level 1 energy-efficiency requirements. In June, we unveiled our next-generation Tiger Neo 5.0 modules, which, through the optimization of multiple core technologies, achieved mass-produced efficiency of 25.91% and power output of over 700 W, once again setting a new benchmark for TOPCon product performance. We are also extending our technology into scenario-based applications, most recently through Sunny 365, a suite of integrated solar-plus-storage solutions designed for retail, AIDC and manufacturing scenarios.
Our energy storage systems (ESS) business maintained its momentum, with shipments in the first half of the year increasing significantly year-over-year and gross margin improving year-over-year. Given uncertainties in the timing of project delivery and other factors, recognized revenue remains in the ramp-up stage. As project deliveries increase, alongside the ongoing enhancement of our proprietary PCS, EMS and other capabilities, we expect to improve the recognition contribution and profit realization and to drive higher-quality growth in this business.
Alongside our core businesses, we are building an investment platform as a complementary driver of long-term value creation.
Over the past several years, we have made selective investments in more than 40 projects through direct investments and investment funds in which we participate, initially focusing on the solar and energy storage value chains and more recently extending into AI and other frontier technologies. During the first half of 2026, we divested a substantial portion of our equity interest in LAPLACE Renewable Energy Technology Co., Ltd., generating cash proceeds of over RMB300 million, while Hangzhou Gold Electronic Equipment Co., Ltd., one of our portfolio companies, successfully completed its listing on the ChiNext Market of the Shenzhen Stock Exchange. These milestones demonstrate the progress we are making in realizing value from our investment portfolio. We will continue to allocate capital prudently, with the long-term development of our core solar and energy storage businesses remaining our top priority, while selectively pursuing strategic investments that can support sustainable long-term value creation.
Looking ahead, we expect our annual integrated production capacity to reach approximately 100 GW by year-end 2026, including approximately 14 GW from overseas facilities. Considering demand dynamics in certain markets, we will place greater emphasis on balancing shipment volume, profitability, cash flow and order quality, and are adjusting our full year 2026 module shipment guidance to between 60 GW and 70 GW, with high-efficiency products accounting for over 60% of the total shipments. For the third quarter of 2026, we expect module shipments to be between 15 GW and 17 GW.”
Second Quarter 2026 Financial Results
Total Revenues
Total revenues in the second quarter of 2026 were RMB12.36 billion (US$1.82 billion), representing an increase of 0.9% from RMB12.25 billion in the first quarter of 2026 and a decrease of 31.3% from RMB17.99 billion in the second quarter of 2025. The sequential and year-over-year changes were mainly due to the fluctuations in the shipment volume of solar modules.
Gross Profit and Gross Margin
Gross profit in the second quarter of 2026 was RMB513.1 million (US$75.6 million), compared with gross profit of RMB1.02 billion in the first quarter of 2026 and gross profit of RMB526.5 million in the second quarter of 2025.
Gross profit margin was 4.2% in the second quarter of 2026, compared with gross profit margin of 8.3% in the first quarter of 2026 and gross profit margin of 2.9% in the second quarter of 2025. The sequential decrease was mainly due to a lower average selling price of solar modules, while the year-over-year increase was primarily due to the higher average selling price of solar modules, partially offset by a higher unit cost of products sold.
Loss from Operations and Operating Margin
Loss from operations in the second quarter of 2026 was RMB1.44 billion (US$211.7 million), compared with loss from operations of RMB588.2 million in the first quarter of 2026 and loss from operations of RMB1.38 billion in the second quarter of 2025. The sequential increase was primarily attributable to the decrease in our gross margin in the second quarter of 2026, while the year-over-year increase was primarily due to the increase in our operating expenses in the second quarter of 2026.
Operating loss margin was 11.6% in the second quarter of 2026, compared with operating loss margin of 4.8% in the first quarter of 2026 and operating loss margin of 7.7% in the second quarter of 2025.
Total operating expenses in the second quarter of 2026 were RMB1.95 billion (US$287.3 million), representing an increase of 21.3% from RMB1.61 billion in the first quarter of 2026 and an increase of 2.3% from RMB1.91 billion in the second quarter of 2025. The sequential and year-over-year increases were primarily due to higher expected credit losses in the second quarter of 2026.
Total operating expenses accounted for 15.8% of total revenues in the second quarter of 2026, compared to 13.1% in the first quarter of 2026 and 10.6% in the second quarter of 2025.
Interest Expenses and Interest Income
Interest expenses were RMB386.9 million (US$57.0 million), and interest income was RMB113.6 million (US$16.7 million) in the second quarter of 2026.
Net interest expenses in the second quarter of 2026 were RMB273.3 million (US$40.3 million), representing an increase of 0.9% from RMB270.7 million in the first quarter of 2026 and an increase of 45.9% from RMB187.3 million in the second quarter of 2025. The year-over-year increase was primarily attributable to new lease liabilities recognized in connection with lease contracts executed in late 2025.
Subsidy Income
Subsidy income in the second quarter of 2026 was RMB201.8 million (US$29.7 million), compared with RMB331.9 million in the first quarter of 2026 and RMB12.0 million in the second quarter of 2025. The sequential and year-over-year changes were primarily attributable to the changes in government grants related to income.
Exchange Loss/Gain
The Company recorded a net exchange loss of RMB325.4 million (US$48.0 million) in the second quarter of 2026, compared to a net exchange loss of RMB482.8 million in the first quarter of 2026 and a net exchange gain of RMB276.7 million in the second quarter of 2025. The sequential and year-over-year changes were mainly attributable to fluctuations in the exchange rates of the US dollar and euro against RMB in the second quarter of 2026.
Change in Fair Value of Forward Contracts and Commodity Futures
The Company recorded a net loss from change in fair value of forward contracts and commodity futures of RMB48.4 million (US$7.1 million) in the second quarter of 2026, compared to a net loss of RMB354.7 million in the first quarter of 2026 and a net loss of RMB178.8 million in the second quarter of 2025. The sequential improvement was mainly due to the decrease of loss from change in fair value of commodity futures in the second quarter of 2026, while the year-over-year improvement was primarily due to the decrease of loss from change in fair value of forward contracts in the second quarter of 2026.
Change in Fair Value of Long-term Investment
The Company holds certain equity interests in several companies operating across the photovoltaic, energy storage, and artificial intelligence sectors, which are recorded as long-term investment and available-for-sale securities and reported at fair value with changes in fair value recognized as gains or losses. As of June 30, 2026, the Company had RMB1.99 billion (US$294.0 million) in long-term investment (excluding the investments accounted for under the equity method and held-to-maturity debt securities) and available-for-sale securities, compared with RMB1.10 billion as of March 31, 2026.
The Company recognized a gain from change in fair value of long-term investment of RMB 370.3 million (US$54.6 million) in the second quarter of 2026, compared with a gain of RMB124.4 million in the first quarter of 2026 and a gain of RMB42.3 million in the second quarter of 2025. The sequential and year-over-year improvements were primarily due to fair value gains from a previously invested company that went public in the second quarter of 2026, reflecting both post-IPO share price appreciation on the original investment and the incremental fair value from additional investments made during the second quarter of 2026.
Other Loss/Income, Net
Net other loss in the second quarter of 2026 was RMB23.9 million (US$3.5million), compared with net other income of RMB34.9 million in the first quarter of 2026 and net other loss of RMB204.7 million in the second quarter of 2025. The sequential and year-over-year changes were mainly due to the changes in the fair value of financial instruments in the second quarter of 2026.
Gain from disposal of a subsidiary
On May 31, 2026, we completed the transfer of 75.1% equity interest in Jinko Solar (U.S.) Industries Inc. to FH JKV Holdings Limited for total cash consideration of RMB1.31 billion (US$191.5 million). The transaction resulted in a pre-tax disposal gain of approximately RMB236.6 million (US$34.9 million). Effective upon closing, the subsidiary’s financial results are no longer consolidated in our financial statements, and our retained 24.9% equity interest is subsequently measured and recognized using the equity method.
Equity in Loss of Affiliated Companies
The Company indirectly holds equity interests in several affiliated companies engaged in solar business, which are accounted for using the equity method. The Company recorded equity in loss of affiliated companies of RMB78.6 million (US$11.6 million) in the second quarter of 2026, compared with equity in loss of affiliated companies of RMB54.5 million in the first quarter of 2026 and equity in loss of affiliated companies of RMB70.9 million in the second quarter of 2025. The fluctuations in equity in loss of affiliated companies primarily arose from the changes in net losses incurred by the affiliated companies.
Income Tax Benefit
The Company recorded an income tax benefit of RMB163.7 million (US$24.1 million) in the second quarter of 2026, compared with income tax benefit of RMB379.3 million in the first quarter of 2026 and income tax benefit of RMB288.8 million in the second quarter of 2025.
Net Loss Attributable to Non-Controlling Interests
Net loss attributable to non-controlling interests amounted to RMB569.9 million (US$84.0million) in the second quarter of 2026, compared with net loss attributable to non-controlling interests of RMB449.4 million in the first quarter of 2026 and net loss attributable to non-controlling interests of RMB546.6 million in the second quarter of 2025. The sequential and year-over-year changes were mainly attributable to the fluctuations in net loss of Jiangxi Jinko, the Company’s majority-owned principal operating subsidiary.
Net Loss and Losses per Share
Net loss attributable to JinkoSolar Holding Co., Ltd.’s ordinary shareholders was RMB697.3 million (US$102.8 million) in the second quarter of 2026, compared with net loss attributable to JinkoSolar Holding Co., Ltd.’s ordinary shareholders of RMB463.5 million in the first quarter of 2026 and net loss attributable to JinkoSolar Holding Co., Ltd.’s ordinary shareholders of RMB876.4 million in the second quarter of 2025.
Excluding the impact of (i) the change in fair value of the long-term investment, (ii) gain from disposal of a subsidiary, and (iii) share-based compensation expenses, adjusted net loss attributable to JinkoSolar Holding Co., Ltd.’s ordinary shareholders was RMB910.8 million (US$134.2 million) in the second quarter of 2026, compared with adjusted net loss attributable to JinkoSolar Holding Co., Ltd.’s ordinary shareholders of RMB549.3 million in the first quarter of 2026 and adjusted net loss attributable to JinkoSolar Holding Co., Ltd.’s ordinary shareholders of RMB856.4 million in the second quarter of 2025.
Basic and diluted losses per ordinary share were RMB3.30 (US$0.49) and RMB3.30 (US$0.49), respectively, in the second quarter of 2026, compared to basic and diluted losses per ordinary share of RMB2.21 and RMB2.21, respectively, in the first quarter of 2026, and basic and diluted losses per ordinary share of RMB4.20 and RMB4.20, respectively, in the second quarter of 2025. As each ADS represents four ordinary shares, this translates into basic and diluted losses per ADS of RMB13.19 (US$1.94) and RMB13.19 (US$1.94), respectively, in the second quarter of 2026; basic and diluted losses per ADS of RMB8.85 and RMB8.85, respectively, in the first quarter of 2026; and basic and diluted losses per ADS of RMB16.82 and RMB16.82, respectively, in the second quarter of 2025.
Financial Position
As of June 30, 2026, the Company had RMB16.94 billion (US$2.50 billion) in cash, cash equivalents, and restricted cash, compared with RMB22.81 billion as of March 31, 2026.
As of June 30, 2026, the Company’s net accounts receivable was RMB12.61 billion (US$1.86 billion), compared with RMB13.77 billion as of March 31, 2026.
As of June 30, 2026, the Company’s inventories were RMB16.47 billion (US$2.43 billion), compared with RMB17.71 billion as of March 31, 2026.
As of June 30, 2026, the Company’s total interest-bearing debts were RMB44.90 billion (US$ 6.62 billion), compared with RMB47.27 billion as of March 31, 2026.
Operations and Business Outlook Highlights
Third Quarter and Full Year 2026 Guidance
The Company’s business outlook is based on management’s current views and estimates with respect to market conditions, production capacity, the Company’s order book and the global economic environment. This outlook is subject to uncertainty on final customer demand and sale schedules. Management’s views and estimates are subject to change without notice.
For the third quarter of 2026, the Company expects its module shipments to be in the range of 15.0 GW to 17.0 GW.
Taking into account changes in demand in certain markets, as well as the Company’s increased focus on balancing shipment volume with profitability, cash flow and order quality, the Company now expects its full-year 2026 module shipments to be in the range of 60.0 GW to 70.0 GW.
For full year 2026, the Company expects its ESS shipments to be more than doubled year-over-year.
Solar Products Production Capacity
The Company expects its annual integrated production capacity to reach approximately 100 GW, including approximately 14 GW from overseas facilities, by the end of 2026.
Recent Business Developments
In June 2026, JinkoSolar’s board of directors declared a cash dividend of US$0.375 per ordinary share of US$0.00002 each of the Company, or US$1.50 per ADS.In June 2026, JinkoSolar was recognized as an Overall Highest Achiever in the 2026 PV Module Index (PVMI) Report, published by RETC, part of the VDE Group.In June 2026, JinkoSolar’s Tiger Neo 3.0 modules achieved TÜV Rheinland’s “A+ Shading Score” under the PfG 2926/05.25 test methodology, while also successfully completing advanced hail resistance verification according to VKF standards.
Conference Call Information
JinkoSolar’s management will host an earnings conference call on Wednesday, August 26, 2026 at 8:30 a.m. U.S. Eastern Time (8:30 p.m. Beijing / Hong Kong the same day).
Please register in advance of the conference using the link provided below. Upon registering, you will be provided with participant dial-in numbers, passcode and unique access PIN by a calendar invite.
Participant Online Registration: https://s1.c-conf.com/diamondpass/10056808-i852sd.html
It will automatically direct you to the registration page of “JinkoSolar Second Quarter 2026 Earnings Conference Call”, where you may fill in your details for RSVP.
In the 10 minutes prior to the call start time, you may use the conference access information (including dial-in number(s), passcode and unique access PIN) provided in the calendar invite that you have received following your pre-registration.
A telephone replay of the call will be available 2 hours after the conclusion of the conference call through 23:59 U.S. Eastern Time, September 2, 2026. The dial-in details for the replay are as follows:
International:
+61 7 3107 6325
U.S.:
+1 855 883 1031
Passcode:
10056808
Additionally, a live and archived webcast of the conference call will be available on the Investor Relations section of JinkoSolar’s website at http://www.jinkosolar.com.
About JinkoSolar Holding Co., Ltd.
JinkoSolar (NYSE: JKS) is a global leader in clean energy technology. JinkoSolar distributes its solar products and sells its solutions and services to a diversified international utility, commercial and residential customer base in 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 and other countries and regions.
JinkoSolar had over 10 production facilities globally, over 20 overseas subsidiaries in Japan, South Korea, Vietnam, India, Turkey, Germany, Italy, Switzerland, the United States, Mexico, and other countries, and a global sales network with sales teams in China, the United States, Canada, Brazil, Chile, Mexico, Italy, Germany, Turkey, Spain, Japan, the United Arab Emirates, Netherlands, Vietnam and India, as of June 30, 2026.
To find out more, please see: www.jinkosolar.com
Currency Convenience Translation
The conversion of Renminbi into U.S. dollars in this release, made solely for the convenience of the readers, is based on the noon buying rates in the city of New York for cable transfers of Renminbi as certified for customs purposes by the Federal Reserve Bank of New York as of June 30, 2026, which was RMB6.7851 to US$1.00. No representation is intended to imply that the Renminbi amounts could have been, or could be, converted, realized, or settled into U.S. dollars at that rate or any other rate. The percentages stated in this press release are calculated based on Renminbi.
Safe Harbor Statement
This press release contains forward-looking statements. These statements constitute “forward-looking” statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements. Among other things, the quotations from management in this press release and the Company’s operations and business outlook, contain forward-looking statements. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Further information regarding these and other risks is included in JinkoSolar’s filings with the U.S. Securities and Exchange Commission, including its annual report on Form 20-F. Except as required by law, the Company does not undertake any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.
For investor and media inquiries, please contact:
In China:
Ms. Stella Wang
JinkoSolar Holding Co., Ltd.
Tel: +86 21-5180-8777 ext.7806
Email: ir@jinkosolar.com
Mr. Christian Arnell
Christensen
Tel: +852 2117 0861
Email: christian.arnell@christensencomms.com
In the U.S.:
Email: jinko@christensencomms.com
JINKOSOLAR HOLDING CO., LTD.
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except ADS and Share data)
For the quarter ended
For the six months ended
Jun 30, 2025
Mar 31, 2026
Jun 30, 2026
Jun 30, 2025
Jun 30, 2026
RMB’000
RMB’000
RMB’000
USD’000
RMB’000
RMB’000
USD’000
Revenues
17,988,725
12,249,048
12,356,951
1,821,189
31,832,365
24,605,999
3,626,476
Cost of revenues
(17,462,264)
(11,230,471)
(11,843,858)
(1,745,569)
(31,658,778)
(23,074,329)
(3,400,735)
Gross profit
526,461
1,018,577
513,093
75,620
173,587
1,531,670
225,741
Operating expenses:
Selling and marketing
(1,227,267)
(901,688)
(939,426)
(138,454)
(2,372,678)
(1,841,114)
(271,347)
General and administrative
(401,761)
(476,564)
(767,565)
(113,125)
(1,616,826)
(1,244,129)
(183,362)
Research and development
(251,598)
(228,483)
(231,363)
(34,099)
(403,400)
(459,846)
(67,773)
Impairment of long-lived assets
(24,536)
–
(11,145)
(1,643)
(24,536)
(11,145)
(1,643)
Total operating expenses
(1,905,162)
(1,606,735)
(1,949,499)
(287,321)
(4,417,440)
(3,556,234)
(524,125)
Loss from operations
(1,378,701)
(588,158)
(1,436,406)
(211,701)
(4,243,853)
(2,024,564)
(298,384)
Interest expenses
(332,800)
(380,636)
(386,897)
(57,022)
(674,403)
(767,533)
(113,120)
Interest income
145,540
109,887
113,621
16,746
249,869
223,508
32,941
Subsidy income
12,033
331,911
201,820
29,745
547,990
533,731
78,662
Exchange gain/(loss),net
276,686
(482,808)
(325,367)
(47,953)
412,371
(808,175)
(119,110)
Change in fair value of forward
contracts and commodity futures
(178,816)
(354,718)
(48,414)
(7,136)
(232,779)
(403,132)
(59,414)
Change in fair value of Long-term
Investment
42,301
124,426
370,308
54,577
(3,855)
494,734
72,915
Other (loss)/income, net
(204,748)
34,862
(23,880)
(3,519)
(384,110)
10,982
1,619
Gain from disposal of a subsidiary
–
–
236,585
34,868
–
236,585
34,868
Loss before income taxes
(1,618,505)
(1,205,234)
(1,298,630)
(191,395)
(4,328,770)
(2,503,864)
(369,023)
Income tax benefits
288,768
379,259
163,675
24,123
988,247
542,935
80,019
Equity in loss of affiliated companies
(70,873)
(54,470)
(78,621)
(11,587)
(116,946)
(133,090)
(19,615)
Net loss
(1,400,610)
(880,445)
(1,213,576)
(178,859)
(3,457,469)
(2,094,019)
(308,619)
Less: Net loss attributable to non-
controlling interests
546,626
449,376
569,946
84,000
1,302,680
1,019,322
150,229
Less: Accretion to redemption value
of redeemable non-controlling
interests
(22,438)
(32,445)
(53,623)
(7,903)
(40,512)
(86,068)
(12,685)
Net loss attributable to JinkoSolar
Holding Co., Ltd.’s ordinary
shareholders
(876,422)
(463,514)
(697,253)
(102,762)
(2,195,301)
(1,160,765)
(171,075)
Net (loss)/income attributable to
JinkoSolar Holding Co., Ltd.’s
ordinary shareholders per share:
Basic
(4.20)
(2.21)
(3.30)
(0.49)
(10.59)
(5.52)
(0.81)
Diluted
(4.20)
(2.21)
(3.30)
(0.49)
(10.59)
(5.52)
(0.81)
Net (loss)/income attributable to
JinkoSolar Holding Co., Ltd.’s
ordinary shareholders per ADS:
Basic
(16.82)
(8.85)
(13.19)
(1.94)
(42.34)
(22.06)
(3.25)
Diluted
(16.82)
(8.85)
(13.19)
(1.94)
(42.34)
(22.06)
(3.25)
Weighted average ordinary shares
outstanding:
Basic
208,496,117
209,480,753
211,435,343
211,435,343
207,378,908
210,463,447
210,463,447
Diluted
208,496,117
209,480,753
211,435,343
211,435,343
207,378,908
210,463,447
210,463,447
Weighted average ADS outstanding:
Basic
52,124,029
52,370,188
52,858,836
52,858,836
51,844,727
52,615,862
52,615,862
Diluted
52,124,029
52,370,188
52,858,836
52,858,836
51,844,727
52,615,862
52,615,862
JINKOSOLAR HOLDING CO., LTD.
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousands)
Dec 31, 2025
Jun 30, 2026
RMB’000
RMB’000
USD’000
ASSETS
Current assets:
Cash,cash equivalents, and restricted cash
22,938,381
16,941,252
2,496,831
Restricted short-term investments and short-term investments
7,487,415
8,766,415
1,292,009
Accounts receivable, net
13,587,215
12,606,756
1,858,006
Notes receivable, net
3,677,372
1,778,508
262,120
Advances to suppliers, net
1,325,633
1,322,526
194,916
Inventories, net
14,484,828
16,473,187
2,427,847
Forward contract and commodity future receivables
58,923
103,535
15,259
Prepayments and other current assets, net
4,909,826
5,609,364
826,718
Held-for-sale assets
344,553
128,848
18,990
Total current assets
68,814,146
63,730,391
9,392,696
Non-current assets:
Restricted long-term investments
471,573
1,026,402
151,273
Long-term investments
1,441,683
3,934,684
579,900
Property, plant and equipment, net
36,644,813
35,764,854
5,271,087
Land use rights, net
2,140,953
2,014,358
296,880
Intangible assets, net
445,866
397,248
58,547
Right-of-use assets, net
3,617,900
3,612,536
532,422
Deferred tax assets
4,576,302
4,418,390
651,190
Advances to suppliers to be utilised beyond one year
605,525
717,178
105,699
Other assets, net
2,026,752
2,210,857
325,840
Available-for-sale securities-non-current
238,464
690,911
101,828
Total non-current assets
52,209,831
54,787,418
8,074,666
Total assets
121,023,977
118,517,809
17,467,362
LIABILITIES
Current liabilities:
Accounts payable
13,707,552
13,354,154
1,968,159
Notes payable
9,996,577
8,250,801
1,216,017
Accrued payroll and welfare expenses
2,645,041
1,924,052
283,570
Advances from customers
5,316,889
6,337,166
933,983
Income tax payables
177,580
262,355
38,666
Other payables and accruals
12,370,639
12,439,840
1,833,403
Forward contract and commodity future payables
56,129
72,487
10,683
Lease liabilities – current
118,363
38,659
5,698
Short-term borrowings, including current portion of long-term
borrowings, and failed sale-leaseback financing
10,655,366
13,624,605
2,008,018
Total current liabilities
55,044,136
56,304,119
8,298,197
Non-current liabilities:
Long-term borrowings
18,206,905
15,135,046
2,230,630
Convertible notes
10,594,637
8,876,294
1,308,204
Accrued warranty costs – non current
1,655,630
1,554,913
229,166
Lease liabilities-noncurrent
3,550,598
3,781,246
557,287
Deferred tax liability
29,974
114,072
16,812
Long-term Payables
4,371,333
3,921,737
577,993
Total non-current liabilities
38,409,077
33,383,308
4,920,092
Total liabilities
93,453,213
89,687,427
13,218,289
MEZZANINE EQUITY
Redeemable non-controlling interests
1,545,058
3,539,877
521,713
SHAREHOLDERS’ EQUITY
Total JinkoSolar Holding Co., Ltd. shareholders’ equity
15,726,132
14,604,359
2,152,417
Non-controlling interests
10,299,574
10,686,146
1,574,943
Total shareholders’ equity
26,025,706
25,290,505
3,727,360
Total liabilities, non-controlling interest and shareholders’ equity
121,023,977
118,517,809
17,467,362
View original content:https://www.prnewswire.com/news-releases/jinkosolar-announces-second-quarter-2026-financial-results-302860485.html
SOURCE JinkoSolar Holding Co., Ltd.
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