Jinko Power Technology Co., Ltd. (601778.SH), a leading green power operator, announced its third-quarter 2025 report on the evening of October 30, demonstrating sustained robust growth and underscoring the resilience of the company’s long-term value. During the reporting period, the company reported revenue of RMB 998 million and a net profit attributable to shareholders of RMB 233 million, a significant year-on-year increase of 76.49%. For the first nine months, net profit attributable to shareholders reached RMB 356 million, surging 61.82% year-on-year. Notably, the net profit for the first three quarters has already surpassed the total net profit for the full prior year.
Financial Highlights
From the beginning of the year to the end of the reporting period, net cash flow from operating activities was RMB 3.273 billion, a substantial increase of 454.05% compared to the same period last year, indicating significantly enhanced cash generation capabilities and strong market competitiveness. As of the end of the third quarter, monetary funds stood at RMB 5.394 billion, an increase of approximately RMB 360 million from the end of last year, reflecting improved operational efficiency.
Core Business Advancements
The company continues to advance its asset-light “roll-over development” strategy, having established a profit cycle from development to sale for various power plant assets, both domestically and internationally. The Antequera photovoltaic project, constructed by Jinko Power Technology, is substantially complete and expected to achieve commercial operation in Q4 2025, having been pre-sold last year.
In energy storage, the company’s Feidong Jinying 100MW/200MWh grid-side energy storage project was connected to the grid in September. Since entering the new energy storage business in 2022, Jinko Power Technology has deployed multiple application scenarios across several provinces in China. The company has adopted a combined asset-light and asset-heavy business model for its energy storage operations, which is poised to become a new profit growth driver.
Emerging Business Initiatives
Jinko Power Technology is actively expanding into integrated solar-storage, electricity retailing, virtual power plants, and microgrids. The Shangrao source-grid-load-storage microgrid project was connected to the grid in Q1 this year. The company has also achieved breakthroughs in innovative businesses such as the first green certificate application for residential PV and the first proxy transaction of power from a new energy station within the year.
