Here you go, straight from the horse's mouth: "...And for the Q2, the gross margin is at the mid range of 14% to 15%, it’s relatively lower than Q1. And Q1, the gross margin is pretty good and exceeding our guidance. And for the Q2, it's basically because our new capacity is still in the construction stage and will not have contributing to the profitability in second quarter..." https://seekingalpha.com/article/4272691-jinkosolar-holding-co-ltd-jks-ceo-chen-kangping-q1-2019-results-earnings-call-transcript?part=single That puts them around break-even before adjustments in Q2 on my books. A forex gain may probably put some icing on the numbers.