Since the beginning of the year, Chinese solar energy solutions provider JinkoSolar Holding Co. Ltd. (JKS) has risen almost 172 percent. The stock is up 6.78% at $65.32 at last check on November 11. A number of favorable factors in the global market and in the Chinese market are responsible for the increase in stock price.
China’s decision to reduce emissions by 2030 and switch to full carbon neutrality by 2060 is one of the key drivers of the growth of JinkoSolar. This promise was made at the UN General Assembly by President XI Jinping of China. With the announcement of such a move, the market for solar energy solutions will already increase and JinkoSolar will be able to increase the number of projects being introduced.
In late September, JKS announced almost 19 percent year-on-year revenue growth of $1.2 billion for the second quarter. Earnings per share were $0.93, exceeding the expectations of analysts. Jinkosolar management has also announced that production goals should be accelerated to 30 GW by the end of this year, up from the initial target of 22 GW earlier this year. In this way, the company shows its ability in a reasonably short period to grow quickly and complete large quantities of orders.
The beneficial expectations associated with the US presidential election is another factor in the growth of JinkoSolar. Currently, according to the U.S. media, Democratic nominee Joe Biden has won the race who is known for promoting environmental conservation projects and the creation of renewable energy sources.
This provides an optimistic long-term outlook for JinkoSolar Holding Co. Ltd. (JKS), which is one of the most powerful players in the solar energy industry at the moment. Due to a good combination of price and strength, the company’s products are successful. The company manufactures high-efficiency modules (more than 18 percent), a power of about 350 W and a voltage of 72 V. The company provides solar panels for all types of projects including home, utility and corporate power plants.