Chinese Jinko Solar Holding Co., Ltd. achieved total revenues in the second quarter of 2017 of CNY 7.92 billion ($1.17 billion), an increase of 37.2 percent from CNY 5.78 billion in the first quarter of 2017 and an increase of 39.8 percent from CNY 5.67 billion in the second quarter of 2016. According to the company, the sequential and year-over-year increases were mainly attributable to an increase in solar module shipments, partially offset by the decline of average selling price of solar modules in the second quarter of 2017.

Net income attributable to the company's ordinary shareholders from continuing operations was CNY 47.4 million ($7.0 million) in the second quarter of 2017, compared with CNY 60.6 million in the first quarter of 2017 and CNY 280.1 million in the second quarter of 2016. Total solar module shipments were 2,884 MW, an increase of 39.5 percent from 2,068 MW in the first quarter of 2017 and an increase of 68.1 percent from 1,716 MW in the second quarter of 2016.

Regarding the first half, revenue was CNY 13.7 billion compared to 10.9 billion in H1 2016. Net income was CNY 107 million (H1 2016: CNY 593 million). As of June 30, 2017, the company's in-house annual silicon wafer, solar cell and solar module production capacity was 6.0 GW, 4.5 GW and 7.5 GW, respectively. Jinko Solar will cease developing new overseas downstream solar projects starting in the third quarter of 2017, but continue to develop, construct and connect to the grid its existing overseas downstream solar projects.
For the third quarter of 2017, Jinko estimates total solar module shipments to be in the range of 2.1 GW to 2.3 GW. For the full year 2017, the company estimates total solar module shipments to be in the range of 8.5 GW and 9.0 GW.