Stock News in Focus: JinkoSolar Holding Co., Ltd. (NYSE:JKS)

On Tuesday JinkoSolar Holding Co., Ltd. (NYSE:JKS)  stock soared 10.56% and closed at 16.44. The stock opened the session at $16.06 and touched its highest price point at $17.74. Its recent trading capacity is 3789685 shares versus to its average trading volume of 697330 shares. The company’s stock’s lowest price point for the session stood at $15.78.JKS traded as low as $ 8.35 in the past 52 weeks, and shares hit its peak level to $24.84.

On Nov. 19, 2019, JinkoSolar Holding Co., Ltd. (NYSE:JKS) one of the largest and most innovative solar module manufacturers in the world, declared its unaudited financial results for the third quarter ended September 30, 2019.

Strategic Business Updates

  • Technology transformation largely complete, expected to reach 18GW mono wafer capacity by the second quarter of 2020.
  • Mono based high efficiency products expected to account for close to 100% of solar module shipments in 2020.
  • Record high gross profit and income from operations in the third quarter of 2019, despite push-out of China demand.
  • Gross margin reset driven by increasing shift towards upgraded mono capacity, industry leading integrated production cost, new premium products and global footprint.
  • Signed agreements to sell two solar power plants in Mexico with a combined capacity of 155MW. The final closing of the transaction is subject to customary approvals.

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