JinkoSolar Holding Co., Ltd (NYSE: JKS) reported a fourth-quarter FY22 revenue growth of 85.5% year-on-year to $4.41 billion, beating the consensus of $3.81 billion.
The sequential and year-over-year increases were mainly attributable to the rise in the shipment of solar modules.
Quarterly shipments of 16,802 MW were up 73.3% Y/Y and 54.8% sequentially.
Gross margin was 14.1% for the quarter, compared to 16.1% in 4Q21. The decrease was mainly due to an increase in the cost of silicon.
The operating profit margin was 2.1%, compared to 3% a year ago. Total operating expenses increased by 68.2% Y/Y, mainly attributable to increased shipping costs for solar modules and increased impairment loss on property, plant and equipment.
Earnings per ADS of $0.85 missed the consensus of $1.21.
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