SHANGRAO, China - JinkoSolar (NYSE:JKS) Holding Co., Ltd. (NYSE: JKS), a leading solar module manufacturer, today announced the UL listing of its 2000-Volt EAGLE® Modules, a first in the global market. These modules are now certified under UL61730-1 and UL61730-2 standards, as well as classified for IEC 61215-1, IEC 61215-2, and IEC 61215-1-1.
The certification process was conducted in collaboration with UL Solutions, a company known for its rigorous safety science standards. JinkoSolar's new modules are expected to be selectively deployed in the U.S. market in the third quarter of 2024, with wider availability slated for 2025.
The 2000-Volt EAGLE® Modules are designed to increase string lengths in utility-scale solar projects, which can lead to reduced system-level component costs and improved efficiency due to less energy loss. This advancement is poised to offer a more competitive levelized cost of energy and higher returns on investment for projects utilizing these modules. This marks a significant step since the introduction of 1500-Volt solar modules eight years ago.
Colleen O'Brien, Principal Engineer of UL Solutions, expressed the company's commitment to working with industry innovators like JinkoSolar to foster competitiveness while ensuring product safety.
Nigel Cockroft, General Manager of JinkoSolar (U.S.) Inc., highlighted the company's focus on advanced research and development and its capability to scale technologies for cost-competitive delivery to U.S. customers.
JinkoSolar operates on a global scale, with a distribution network that extends across various continents and a significant presence in key solar markets. The company's production and sales infrastructure includes 14 production facilities and 26 overseas subsidiaries as of March 31, 2024.
This announcement is based on a press release statement from JinkoSolar Holding Co., Ltd.
InvestingPro Insights
In the wake of JinkoSolar’s announcement about their new 2000-Volt EAGLE® Modules, InvestingPro data highlights several financial metrics that may be of interest to investors considering the company's stock. JinkoSolar currently holds a market capitalization of $1.3 billion and is trading at a low Price to Book (P/B) multiple of 0.45 as of the last twelve months ending Q1 2024. This could indicate that the company’s stock is potentially undervalued relative to its assets.
The company's Price to Earnings (P/E) ratio stands at 3.2, adjusted for the last twelve months as of Q1 2024, suggesting that the stock may be trading at a low earnings multiple compared to its peers. Additionally, JinkoSolar has experienced a robust revenue growth of 29.12% during the same period, reflecting its expanding operations and market reach.
InvestingPro Tips emphasize that JinkoSolar is a prominent player in the Semiconductors & Semiconductor Equipment industry, but also point out that the company operates with a significant debt burden and is quickly burning through cash. These insights suggest that while JinkoSolar is making strides in product innovation and market presence, potential investors should be aware of the financial risks associated with the company’s current strategy.
For those interested in a deeper analysis, InvestingPro offers additional tips on JinkoSolar, which can be accessed at https://www.investing.com/pro/JKS. There are a total of 14 InvestingPro Tips available, providing a comprehensive overview of the company's financial health and market position. Readers looking to leverage these insights can use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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