SHANGHAI - JinkoSolar (NYSE:JKS) Holding Co., Ltd. (NYSE: JKS), a prominent solar module manufacturer, has set a new world record for the conversion efficiency of its N-type TOPCon-based perovskite tandem solar cell, reaching 33.24%. The Shanghai Institute of Microsystem and Information Technology, Chinese Academy of Sciences, verified this breakthrough, surpassing the company's previous best of 32.33%.
The latest development employed JinkoSolar's monocrystalline TOPCon solar cell as the bottom cell, enhanced by innovations such as ultra-thin poly-Si passivated contact technology, novel light-trapping technology, an intermediate recombination layer with high light transmittance and carrier mobility, and efficient surface passivation using hybrid materials.
This achievement not only breaks the efficiency limit of single-junction silicon solar cells but also demonstrates the potential for TOPCon to integrate with advanced perovskite/silicon tandem cell technology.
JinkoSolar, a leader in the photovoltaic industry, continues to invest heavily in research and development. With over 3,800 global patents applied for and more than 3,500 granted, the company is at the forefront of providing efficient and valuable energy solutions worldwide.
Dr. Jin Hao, CTO of JinkoSolar, expressed confidence that the company's ongoing scientific and technological advancements will significantly contribute to a more sustainable energy structure.
The company serves a diverse global market, including utility-scale, commercial, and residential customers across various countries and regions. JinkoSolar operates 14 production facilities worldwide and maintains a robust sales network, ensuring a strong presence in the solar photovoltaic market.
This news is based on a press release statement.
InvestingPro Insights
JinkoSolar Holding Co., Ltd. (NYSE: JKS) is making waves in the renewable energy sector with its record-breaking solar cell efficiency. As the company continues to push the boundaries of solar technology, investors and industry watchers are keeping a close eye on its financial health and market performance. Here are some key insights based on data from InvestingPro and "InvestingPro Tips" that may be of interest:
With a market capitalization of approximately $1.58 billion, JinkoSolar trades at an attractive P/E ratio of 4, suggesting that the company's earnings are available at a lower price compared to its peers. This is further underlined by an adjusted P/E ratio for the last twelve months as of Q1 2024, standing at 3.9. Such a low earnings multiple could indicate a potential undervaluation of JKS stock, especially considering the company's role as a prominent player in the Semiconductors & Semiconductor Equipment industry.
InvestingPro data shows a strong revenue growth of 29.12% for the last twelve months as of Q1 2024, although the quarterly figure reflects a slight contraction of -1.22%. Despite this, the company's gross profit margins are regarded as weak, at 14.99%, which could be a point of concern for margin-focused investors. Nonetheless, JinkoSolar has experienced a robust one-month price total return of 23.47%, indicative of recent positive market sentiment.
An "InvestingPro Tip" highlights that JKS is trading at a low Price / Book multiple of 0.55, which could appeal to value investors looking for assets that are priced conservatively relative to their book value. Additionally, while JinkoSolar does not pay a dividend, suggesting a reinvestment of earnings into the company's growth and development, analysts are predicting that the company will be profitable this year.
For those interested in a deeper dive into JinkoSolar's financial health and market potential, InvestingPro offers a wealth of additional tips. Currently, there are 11 more "InvestingPro Tips" available at https://www.investing.com/pro/JKS, which can provide further guidance on investment decisions. To enhance your investing strategy, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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