Solar panel manufacturer JinkoSolar Holdings Co. (NYSE: JKS) on Wednesday reported a sharp increase in fourth-quarter profit, reflecting a 74% surge in revenues.
Net income increased to $37.6 million or $0.65 per ADS, despite continued supply chain issues. On an adjusted basis, fourth-quarter profit was $0.67 per ADS, which represents a near-fivefold growth from the prior-year period.
Revenues of the China-based company climbed 74% year-over-year to $2.57 billion during the three-month period. Total shipments nearly doubled sequentially.
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