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JinkoSolar (JKS)

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What no comments on Jinko's ER. They fell 100MW below their low end guidance.

You remove a $6M tax reversals  and the $10MCVD reversals and they are at zero profits.

Their belnded ASP looks to be around just over $0.30 with costs around $0.265. Mono is set to pull down further.

Their 2019 guidance is 14-15GW. That is an increase of 22-32% over the past year. That is similar to last years increases that they fell short of. 

 

This is a company that is operationally profitless after standard expenses and interest. Yet they are pushing volumes over profits.  They are basically using accounting gimicks to show profits.

 

Atleast CSIQ actually made a profit from their own operations last year and not from check book accounting gimicks.

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They keep expanding recklessly and spending way more in CAPEX than what they're producing in cash.  This quarter $160M in Capex vs. $56M in EBITDA.  And craaazy expansion planned for 2019.  Not going to end well.  Looks like the CEO has lost it just like Peng, Shi, Miao.

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Jinko will ship upto 15GW in 2019!!! How much will FSLR? (Does AMZN ring the bell? How long were they profitless before they dominated? Look at hem now.) No, I do not have position in Jinko nor in any other solar (although I should have).  

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7 minutes ago, pg6solar said:

Jinko will ship upto 15GW in 2019!!! How much will FSLR? (Does AMZN ring the bell? How long were they profitless before they dominated? Look at hem now.) No, I do not have position in Jinko nor in any other solar (although I should have).  

It is all fun and games until suddenly it isn't. Reckless expansion is what brought Yingli down.

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13 hours ago, MVA said:

JinkoSolar Announces Proposed Follow-on Offering of 3,750,000 American Depositary Shares...

https://finance.yahoo.com/news/jinkosolar-announces-proposed-offering-3-202900817.html

Let just say that secondary was telegraphed from the other side of the sun. The line of questioning from the con call regarding funds needed for expansion, then the back to back PR's to try and push positive news was a dead giveaway.

 

What is interesting is that the stock is not down 10% yet when they are diluting some 15%.

 

Are they looking at getting this placement done before the ER? If so that is real shady to me and would suggest that the full year earnings will not be great.

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2 hours ago, SCSolar said:

What is interesting is that the stock is not down 10% yet when they are diluting some 15%.

Only down 3% at the moment on nearly 3M shares is strange indeed.  When's the flush coming?

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Hmmmm, ok then.  Flush tomorrow?  Odd.  Someone has their back or someone is ready to yank the rug in a big way.  

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Just now seeing this from yesterday, but Shen at Roth put a buy and $24 target on this?  Some of his recent FSLR calls over the last year and now this make me wonder.  I hope he's right and knows who has been holding the stock price up and knows their future intent, as I still own shares from 2014 I'd love to get break even on.

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