JinkoSolar Slashes 2026 Shipment Forecast, CEO Resigns as Losses Widen
JKS sits 24% above its 52-week low of $13.08.
Summary
JinkoSolar's Q2 results missed badly: revenue of $1.82B vs $2.12B expected, adjusted loss of $2.54/ADS vs $0.70 loss estimate. The company cut its 2026 shipment forecast to 60-70 GW from 75-85 GW, citing weak Chinese demand and persistent pricing pressure. CEO Xiande Li resigned as part of a planned succession, with Wei 'Dimi' Du taking over immediately. Shares fell 13.8% to $13.34. The new CEO warned industry profits remain under pressure, and the company expects 2026 to be a weak year for solar. This follows the earlier Reuters report of a first-half net loss of $461M, but adds the guidance cut, CEO change, and sharp stock decline.
At the time of this announcement, JKS was trading at $16.16 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $779M. The 52-week trading range was $13.08 to $31.88. This news item was assessed with negative market sentiment and an importance score of 8 out of 10. Source: Benzinga.