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JinkoSolar Holdings Co. (NYSE: JKS ) has reported a double-digit increase in fourth-quarter profit amid strong demand growth that led to a surge in shipments. The company also provided guidance for the first quarter and fiscal 2023.
The China-based solar energy company’s revenue rose 55.8% year over year to $4.41 billion in the fourth quarter. Adjusted net income attributable to shareholders, excluding special items, was $45.3 million, which was higher than the profit recorded in the prior-year quarter.
Read management/analyst commentary on monthly results
On an unadjusted basis, the company reported a net profit of $102.9 million or $0.85 per ADS, compared to a loss in the corresponding period in 2021. During the quarter, total shipments of solar modules increased to 16,802 MW.
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