RTTNews | Sep 23, 2020 06:38AM EDT

06:37 Wednesday, September 23, 2020 (RTTNews.com) - Solar module manufacturer JinkoSolar Holding Co., Ltd. (JKS) reported Wednesday that net income attributable to the company's ordinary shareholders was RMB318.0 million or $45.0 million in the second quarter, sharply higher than RMB125.4 million in the year-ago quarter. Earnings per American depositary share (ADS) were RMB6.55 or $0.93, compared to RMB1.26 last year.

Adjusted net income attributable to the company's ordinary shareholders was RMB376..1 million or $53.2 million, compared to RMB202.9 million last year. Adjusted earnings per ADS were RMB8.46 or $1.20, compared to last year's RMB4.87.

Total revenues for the quarter grew 22.2 percent to RMB8.45 billion or $1.20 billion from RMB6.91 billion last year. Total solar module shipments in the second quarter grew 32.0 percent from last year to 4,469 MW.

Looking ahead to the third quarter, the company expects total solar module shipments to be in the range of 5.0 GW to 5.3 GW. Total revenue for the quarter is expected to be in the range of $1.22 billion to $1.30 billion.

For the full year 2020, the Company still estimates total solar module shipments to be in the range of 18 GW to 20 GW.

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