JinkoSolar Promoted Wei Du To Succeed Xiande Li As CEO

JinkoSolar reported a narrower Q2 net loss of $102.76M, down from $134.2M last year. Revenue fell 31.3% to $1.82B. The company expects Q3 shipments of 15-17 GW and full-year 2026 shipments of 60-70 GW. Pre-market, JKS shares were down 2.51%.

Shenzhen Energy Group subsidiaries announced results for a 2026–2028 PV module procurement totaling 1 GW, awarding JinkoSolar the contract again. The Tiger Neo 3.0 module is described as having up to 24.8% efficiency, 670W max power, and bifaciality of 85% ± 5%, aimed at ground-mounted plants and stable low-light output.

China’s energy efficiency PV standard, issued by multiple ministries, takes effect 1 Jan 2027 and sets tiered module conversion thresholds by cell type. Modules below Grade 3 will be barred from production and sales. JinkoSolar, LONGi Green and Canadian Solar discussed impacts on procurement criteria and capacity, plus storage expansion plans.

JinkoSolar said its N-type TOPCon perovskite-silicon tandem cell reached 34.82% certified power conversion efficiency on June 19, according to certification by the Shanghai Institute of Microsystem and Information Technology (Chinese Academy of Sciences). The result tops its prior 34.76% tandem record and marks its 33rd efficiency/module output world record. Investors will watch whether the TOPCon-compatible platform can scale while maintaining stability.

JinkoSolar Holding Co. (NYSE: JKS) announced a cash dividend of $0.375 per ordinary share (US$1.50 per ADS). Shareholders of record at June 22, 2026 will receive it, with payment expected around July 9, 2026. The company expects to distribute about $78.5 million in total.

Truist downgraded Nike (NKE) to Hold from Buy, lowering its price target to $42 from $47, citing uncertainty around Nike's turnaround progress due to Dick's Sporting Goods' (DKS) guidance cut, which signals challenges in footwear trends. Nike had previously highlighted U.S. wholesale and Foot Locker growth, but Truist now believes Dick's underestimated cleanup needs and brand heat degradation.