JinkoSolar Holding Company Limited
Buy, Hold or Sell?

Let's analyse Jinkosolar together

Penke I guess you are interested in JinkoSolar Holding Company Limited. Buy, hold or sell? I don't know! However, I do recommend doing research before doing anything. I will help you with that.

I'm going to help you getting a better view of JinkoSolar Holding Company Limited. At the end you don't have to ask anyone for trading advice. You can make your own decision, with more confidence, the odds in your favor, backed by data.

You can find me behind Let's Analyse Together in the top-right of each section.

Get notifications about JinkoSolar Holding Company Limited

I send you an email if I find something interesting about JinkoSolar Holding Company Limited.

Quick analysis of Jinkosolar (30 sec.)

What can you expect buying and holding a share of Jinkosolar? (30 sec.)

How much money do you get?

$0.00

When do you have the money?

1 year

How often do you get paid?

7.5%

What is your share worth?

Current worth

$81.84

Expected worth in 1 year

$98.54

How sure are you?

75.0%

+ What do you gain per year?

Total Gains per Share

$16.69

Return On Investment

69.1%

For what price can you sell your share?

Current Price per Share

$24.14

Expected price per share

$21.06 - $25.88

How sure are you?

50%

1. Valuation of Jinkosolar (5 min.)

Live pricePrice per Share (EOD)

$24.14

Book Value per Share

$81.84

2. Growth of Jinkosolar (5 min.)

Is Jinkosolar growing?

	Current year	Previous year	Grow	Grow %
How rich?	$4.5b	$2.7b	$1.3b	33.3%

How much money is Jinkosolar making?

	Current year	Previous year	Grow	Grow %
Making money	$138.1m	$13.9m	$124.1m	89.9%
Net Profit Margin	3.2%	0.6%	-	-

How much money comes from the company's main activities?

Quarterly Yearly

3. Financial Health of Jinkosolar (5 min.)

4. Comparing to competitors in the Solar industry (5 min.)

Industry Rankings (Solar)

Richest
#7 / 83

Most Revenue
#3 / 83

Most Profit
#9 / 83

Most Efficient
#35 / 83

What can you expect buying and holding a share of Jinkosolar? (5 min.)

Welcome investor! Jinkosolar's management wants to use your money to grow the business. In return you get a share of Jinkosolar.

What can you expect buying and holding a share of Jinkosolar?

First you should know what it really means to hold a share of Jinkosolar. And how you can make/lose money.

Speculation

The Price per Share of Jinkosolar is $24.14. The market price reflects what other people think it is worth; not what it's really worth. Your job is to find out if the market price is fair, overpriced, or underpriced. I will help you with that.

If you buy blind, there is a 50% chance of making or losing money by selling the stock in the future. However, we can look at a few things to determine the odds in our favor:

The fundamentals: the financial health trends of Jinkosolar.
The technials: based on market psychology, we can make a calculated estimate of what the price will do in the future. We can do this through technical analysis. We can calculate the probabilities and the expected value (millionaire math). That's called speculation.
The book value: what is the market price compared to it's book value.

Investing

If you really want to invest in Jinkosolar, you will have to let go of the thought of selling in the future. If you have to sell the share for less than you bought it, it can still be a good investment. Focus on what it means to hold the stock forever:

You own a part of the company. The equity of this part can grow or shrink. The current Book Value per Share is $81.84. Based on the TTM, the Book Value Change Per Share is $4.17 per quarter. Based on the YOY, the Book Value Change Per Share is $6.82 per quarter.
You may receive quarterly/yearly dividend in the form of additional shares.
You may receive quarterly/yearly dividend in the form of cash. Based on the TTM the Dividend per Share is $0.00 per quarter.

Based on historical numbers we can estimate the returns while holding a share of Jinkosolar.

How much money are you going to get?

	MRQ		TTM		YOY		5Y		10Y
	$	% of Price per Share	$	% of Price per Share	$	% of Price per Share	$	% of Price per Share	$	% of Price per Share
Usd Eps	3.27	13.6%	2.89	12.0%	0.09	0.4%	0.82	3.4%	0.44	1.8%
Usd Book Value Change Per Share	4.23	17.5%	4.17	17.3%	6.82	28.2%	2.95	12.2%	1.92	7.9%
Usd Dividend Per Share	0.00	0.0%	0.00	0.0%	15.56	64.5%	7.45	30.9%	3.73	15.4%
Usd Total Gains Per Share	4.23	17.5%	4.17	17.3%	22.38	92.7%	10.40	43.1%	5.64	23.4%
Usd Price Per Share	30.37	-	41.66	-	54.71	-	37.56	-	29.80	-
Price to Earnings Ratio	2.32	-	3.84	-	43.37	-	170.20	-	286.29	-
Price-to-Total Gains Ratio	7.18	-	-80.85	-	23.39	-	-5,571,178.32	-	-2,529,308.54	-
Price to Book Ratio	0.37	-	0.57	-	1.08	-	0.87	-	1.35	-
Price-to-Total Gains Ratio	7.18	-	-80.85	-	23.39	-	-5,571,178.32	-	-2,529,308.54	-

When do you get the money?

Usd Investment	$.00
Usd Price Per Share	24.14
Number of shares	41

Gains per Quarter	Trailing 12 Months	5 Year
Usd Dividend Per Share	0.00	7.45
Usd Book Value Change Per Share	4.17	2.95
Usd Total Gains Per Share	4.17	10.40
Gains per Quarter (41 shares)	171.10	426.33
Gains per Year (41 shares)	684.40	1,705.31

Years	Return on Investment (TTM)			Return on Investment (5Y)
	Dividend	Book Value gain	Total gains	Dividend	Book Value gain	Total gains
Broker costs	-	-	-10	-	-	-10
1	0	684	674	1222	483	1695
2	0	1369	1358	2445	966	3400
3	0	2053	2042	3667	1449	5105
4	0	2738	2726	4889	1932	6810
5	0	3422	3410	6112	2415	8515
6	0	4106	4094	7334	2898	10220
7	0	4791	4778	8556	3381	11925
8	0	5475	5462	9778	3864	13630
9	0	6160	6146	11001	4347	15335
10	0	6844	6830	12223	4830	17040

How sure are you?

Based on the past periods, how sure are you to get value out of your investment.

Linear %

	Trailing 12 Months				3Y				5 Year				10 Year				ALLTIME
				%				%				%				%				%
Earnings Per Share	4.0	0.0	0.0	100.0%	10.0	2.0	0.0	83.3%	18.0	2.0	0.0	90.0%	38.0	2.0	0.0	95.0%	54.0	5.0	0.0	91.5%
Book Value Change Per Share	3.0	1.0	0.0	75.0%	7.0	5.0	0.0	58.3%	12.0	8.0	0.0	60.0%	28.0	12.0	0.0	70.0%	38.0	19.0	2.0	64.4%
Dividend per Share	0.0	0.0	4.0	0.0%	3.0	0.0	9.0	25.0%	3.0	0.0	17.0	15.0%	3.0	0.0	37.0	7.5%	3.0	0.0	56.0	5.1%
Total Gains per Share	3.0	1.0	0.0	75.0%	9.0	3.0	0.0	75.0%	14.0	6.0	0.0	70.0%	30.0	10.0	0.0	75.0%	40.0	17.0	2.0	67.8%

Fundamentals of Jinkosolar

About JinkoSolar Holding Company Limited

https://www.jinkosolar.com
Solar
0
1 Yingbin Avenue, Shang Rao, China, 334100
Google Maps Bing Maps

JinkoSolar Holding Co., Ltd., together with its subsidiaries, engages in the design, development, production, and marketing of photovoltaic products. The company offers solar modules, silicon wafers, solar cells, recovered silicon materials, and silicon ingots. It also provides solar system integration services; and develops commercial solar power projects. The company sells its products to distributors, project developers, system integrators, and manufacturers of solar power products under the JinkoSolar brand. As of December 31, 2022, it had an integrated annual capacity of 65 gigawatts (GW) for mono wafers; 55 GW for solar cells; and 70 GW for solar modules. The company has operations in the People's Republic of China, the United States, Mexico, Australia, Japan, United Arab Emirates, Turkey, Jordan, Vietnam, Egypt, Spain, and Germany. JinkoSolar Holding Co., Ltd. was founded in 2006 and is headquartered in Shangrao, the People's Republic of China.

Fundamental data was last updated by Penke on 2024-04-09 10:09:04.

Financial Health

Profitability Details

	Compared to previous year	Compared to industry
The company is making a profit.
Using its assets, the company is inefficient in making profit.
Using its investors money, the company is less efficient in making profit.

Operating Efficiency Details

	Compared to previous year	Compared to industry
The company is operating less efficient.
The company is less efficient in keeping operating costs low.

Liquidity Details

	Compared to previous year	Compared to industry
The company is just able to pay all its short-term debts.
The company is just not able to pay all its short-term debts with the most liquid assets.

Solvency Details

	Compared to previous year	Compared to industry
The company is able to pay all its debts by selling its assets.
The company is unable to pay all its debts with equity.

Valuation

Valuation Details

	Compared to previous year	Compared to industry
Based on the equity, the company is cheap.
Based on the earnings, the company is cheap.
Based on how much money comes from the company's main activities, the company is expensive.

1.1. Profitability of JinkoSolar Holding Company Limited.

1.1. Profitability

1.1.1. Net Profit Margin

Measures how much net profit Jinkosolar earns for each $1 of revenue.

Above 10% is considered healthy but always compare Jinkosolar to the Solar industry mean.
A Net Profit Margin of 4.2% means that $0.04 for each $1 in revenue is generated as profit.

Let's take a look of the Net Profit Margin trends of JinkoSolar Holding Company Limited:

The MRQ is 4.2%. The company is making a profit. +1
The TTM is 3.2%. The company is making a profit. +1

Trends

Current period		Compared to		+/-
MRQ	4.2%	TTM	3.2%	+0.9%
TTM	3.2%	YOY	0.6%	+2.6%
TTM	3.2%	5Y	1.6%	+1.7%
5Y	1.6%	10Y	3.0%	-1.4%

Compared to industry (Solar)

Period	Company	Industry (mean)	+/-
MRQ	4.2%	-1.1%	+5.3%
TTM	3.2%	-1.3%	+4.5%
YOY	0.6%	-0.8%	+1.4%
5Y	1.6%	-7.8%	+9.4%
10Y	3.0%	-9.1%	+12.1%

Measures how much net profit Jinkosolar earns for each $1 of revenue.

Revenue is the amount of profit Jinkosolar generates before taxes and all other costs. For example, when you buy a cup of coffee it will cost you $3. The company does not earn $3 in profit but also has to pay various costs and taxes to create that cup of coffee. Let's assume the cost of creating a cup of coffee is $1.5.

The $3 you pay for a cup of coffee is called revenue.
The $1.5 that’s left over when all costs to create that cup of coffee (including taxes) are deduced from the revenue is called net profit.

The net profit margin looks at how much net profit Jinkosolar earns for each $1 in revenue.

How to use net profit margin

Higher profit margin is better (more profit).
Above 10% is considered healthy but always compare Jinkosolar to the Solar industry mean.
Can be used to compare companies within the Solar industry.

You typically want a high profit margin. This means that for each $1 in sales, Jinkosolar makes more profit. This shows the investor how efficiently Jinkosolar is operating in general and compared to other companies in the same industry. Jinkosolar operates in the Solar industry.

Why do investors use net profit margin in their analysis

It helps investors to determine the efficiency of Jinkosolar. If profit margins remain low (compared to the Solar industry mean) and there are no improvements to make in production costs or other areas that might be a warning sign. If profit margins are high that means the company has low overhead costs and is efficiently using its resources to generate profit.

The three steps every investor should look at:

What is the current net profit margin?
The current most recent quarter (MRQ) Net Profit Margin of Jinkosolar is 0.04. This means that Jinkosolar earned $0.04 for each $1 in revenue in the most recent quarter.
How does it compare to the industry?
The mean MRQ Net Profit Margin of the Solar industry is -1.1%.
What is the trend?
The trend is important because it shows you how Jinkosolar is performing over time. The most recent quarter might be important if Jinkosolar released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Jinkosolar up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare Jinkosolar with other companies in the same industry (Solar).
Net profit margin should rise over the years.
Can be influenced when Jinkosolar sells assets (profit will increase while costs remain the same).
It won’t show what part of Jinkosolar is doing great or needs improvement (it only looks at total revenue and total net income).

How to calculate net profit margin

Net profit margin = net income / total revenue * 100%

Real example of Jinkosolar

You need the following data to determine net profit margin:

Income statement from the period you want to calculate (for example, MRQ or TTM).

Net income MRQ Jinkosolar = 1,323,373
Total revenue MRQ Jinkosolar = 31,834,258
$1,323,373 / $31,834,258 = 0.04 or 4.2%

Higher is better

The higher the net profit margin, the more efficient the company is generating income. This helps investors to determine how the company is managing money. The net profit margin is an important indicator when diving into the financial health of a company. Overall, you want to see the net profit margin rising over the years. That means the company improved their production and made it more efficient (if possible).

You can use the net profit margin to compare companies within the same industry. If there are two companies where one is much bigger but the smaller one has a higher net profit margin, that means the smaller company is more efficiently using operational costs.

Important: Profit margins can be very different between industries. Companies with assembly lines or transports are much more prone to see shifting in prices for fuel, ingredients and maintenance compared to companies that only provide services. You should never compare net profit margin between different industries.

1.1.2. Return on Assets

Shows how efficient Jinkosolar is using its assets to generate profit.

Above 5% is considered healthy but always compare Jinkosolar to the Solar industry mean.
1.0% Return on Assets means that Jinkosolar generated $0.01 profit for each $1 in assets.

Let's take a look of the Return on Assets trends of JinkoSolar Holding Company Limited:

The MRQ is 1.0%. Using its assets, the company is less efficient in making profit.
The TTM is 0.8%. Using its assets, the company is inefficient in making profit. -1

Trends

Current period		Compared to		+/-
MRQ	1.0%	TTM	0.8%	+0.2%
TTM	0.8%	YOY	0.1%	+0.7%
TTM	0.8%	5Y	0.3%	+0.5%
5Y	0.3%	10Y	0.6%	-0.2%

Compared to industry (Solar)

Period	Company	Industry (mean)	+/-
MRQ	1.0%	-0.9%	+1.9%
TTM	0.8%	-0.2%	+1.0%
YOY	0.1%	-0.2%	+0.3%
5Y	0.3%	-1.2%	+1.5%
10Y	0.6%	-0.9%	+1.5%

Shows how efficient Jinkosolar is using its assets to generate profit.

For a farm, a tractor is considered an asset. The tractor helps ploughing the land making it possible to plant and harvest crops. But the tractor might be old and needing maintenance all the time reducing its efficiency. Return on assets indicates how effectively the farm is using the tractor (and other assets that help the core business) to plough the land.

How to use return on assets

Higher is better.
Above 5% is considered healthy but always compare Jinkosolar to the Solar industry mean.
Can be very different between industries.
Can be used to compare companies.

Why do investors use return on assets in their analysis

Shows the investor how effectively Jinkosolar is using its resources to generate profit. If the return on assets (1.0%) from Jinkosolar are higher than the Solar mean (-0.9%) that means Jinkosolar is using its resources better than their competitors. If not, that means their competitors are more efficient in using their resources to generate profit.

An investor should always look at:

What is the current return on assets?
The current most recent quarter (MRQ) Return on Assets of Jinkosolar is 1.0%. This means the company generated $0.01 for each $1 in assets.
How does it compare to the industry?
The mean MRQ Return on Assets of the Solar industry is -0.9%.
What is the trend?
The trend is important because it shows you how Jinkosolar is performing over time. The most recent quarter might be important if Jinkosolar released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Jinkosolar up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry.
If a company has many assets changing over time, it’s better to calculate the average assets instead of the total assets.

How to calculate return on assets

Return on assets = net income / total assets * 100%

Real example Jinkosolar

You need the following data to determine return on assets (ROA):

Income statement
Balance sheet

Net income MRQ (income statement) from Jinkosolar = 1,323,373
Total assets MRQ (balance sheet) from Jinkosolar = 127,348,439
1,323,373 / 127,348,439 = 0.01 or 1.0%

ROA is an important ratio as it will tell you how effectively Jinkosolar is using its resources to generate profits. Example:

Bob and Kristin both sell ice cream in the summer. They both have an ice cream truck. The truck Bob owes cost him $20.000 and the truck Kristin owes cost her $1500. Over the summer, Bob earned $2000 and Kristin earned $200. To calculate the return on assets:

Bob: $2000 / $20.000 * 100% = 10%
Kristin: $200 / $1500 * 100% = 13.3%

This tells you Bob’s company is more valuable but Kristin's company is more efficient. Be aware that total assets can change over time. A transportation business will buy and sell trucks or planes all the time. Before using return on assets as a guideline, you have to know what the exact assets are. For a company that has many assets changing over time, it’s better to calculate the average assets instead of the total assets.

1.1.3. Return on Equity

Shows how efficient Jinkosolar is using its investors money to generate profit.

Above 15%-20% is considered healthy but always compare Jinkosolar to the Solar industry mean.
6.6% Return on Equity means Jinkosolar generated $0.07 for each $1 the owners (shareholders) invested.

Let's take a look of the Return on Equity trends of JinkoSolar Holding Company Limited:

The MRQ is 6.6%. Using its investors money, the company is less efficient in making profit.
The TTM is 5.4%. Using its investors money, the company is less efficient in making profit.

Trends

Current period		Compared to		+/-
MRQ	6.6%	TTM	5.4%	+1.2%
TTM	5.4%	YOY	0.9%	+4.5%
TTM	5.4%	5Y	2.0%	+3.4%
5Y	2.0%	10Y	3.2%	-1.2%

Compared to industry (Solar)

Period	Company	Industry (mean)	+/-
MRQ	6.6%	-0.3%	+6.9%
TTM	5.4%	0.3%	+5.1%
YOY	0.9%	-0.2%	+1.1%
5Y	2.0%	-0.8%	+2.8%
10Y	3.2%	-0.8%	+4.0%

Shows how efficient Jinkosolar is using its investors money to generate profit.

A publicly traded company (any company that issues shares to the public) is owned by its shareholders. Return on equity calculates the amount of profit for every $1 the shareholders invested.

How to use return on equity

Higher is better.
Above 15%-20% is considered healthy but always compare Jinkosolar to the Solar industry mean.
Can be very different between industries.
Can be used to compare companies.

Why do investors use return on equity in their analysis

To find out the owners/management's attitude toward their company. You typically want the owners/management to invest in the company and focus on generating profit. If not enough profit is generated (compared to the Solar industry mean), the company might not be investing their money efficiently.

The three steps every investor should look at:

What is the current return on equity?
The current most recent quarter (MRQ) Return on Equity of Jinkosolar is 6.6%. This means Jinkosolar generated $0.07 for each $1 the owners (shareholders) invested.
How does it compare to the industry?
The mean MRQ Return on Equity of the Solar industry is -0.3%.
What is the trend?
The trend is important because it shows you how Jinkosolar is performing over time. The most recent quarter might be important if Jinkosolar released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Jinkosolar up to 10 years back (depending if Jinkosolar existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry.
Does not include intangible assets (non physical assets like licences, computer software, etc.).
Stockholders equity and shareholders equity refer to the same thing.
Liabilities should not be more than three times return on equity.

How to calculate return on equity

Return on equity = net profit / shareholders equity * 100%

Real example of Jinkosolar

You need the following data to determine ROE:

Income statement
Balance sheet
Net profit MRQ (income statement) Jinkosolar = 1,323,373
Shareholders equity (balance sheet) MRQ Jinkosolar = 20,029,751
1,323,373 / 20,029,751 = 0.07 or 6.6%

A negative shareholder equity is a warning sign. It means the company has more liabilities than assets. It might also mean that the owners did not invest enough money or they are taking money out of the business.

1.2. Operating Efficiency of JinkoSolar Holding Company Limited.

1.2. Operating Efficiency

1.2.1. Operating Margin

Measures how efficient Jinkosolar is operating .

Measures how much profit Jinkosolar makes for each $1 of sales after paying variable costs (production costs, wages, etc) but before taxes.
Above 15% is considered healthy but always compare Jinkosolar to the Solar industry mean.
An Operating Margin of 9.5% means the company generated $0.09 for each $1 in revenue (before taxes).

Let's take a look of the Operating Margin trends of JinkoSolar Holding Company Limited:

The MRQ is 9.5%. The company is operating less efficient.
The TTM is 5.3%. The company is operating less efficient.

Trends

Current period		Compared to		+/-
MRQ	9.5%	TTM	5.3%	+4.2%
TTM	5.3%	YOY	2.0%	+3.3%
TTM	5.3%	5Y	3.8%	+1.5%
5Y	3.8%	10Y	4.8%	-1.0%

Compared to industry (Solar)

Period	Company	Industry (mean)	+/-
MRQ	9.5%	0.5%	+9.0%
TTM	5.3%	-0.6%	+5.9%
YOY	2.0%	-1.2%	+3.2%
5Y	3.8%	0.2%	+3.6%
10Y	4.8%	-0.1%	+4.9%

Measures how efficient Jinkosolar is operating .

The more effecient a company creates products or provides services, the more profit it generates.

How to use operating margin

Higher is better
Above 15% is considered healthy but always compare Jinkosolar to the Solar industry mean.
Can be very different between industries
Can be used to compare companies

Why do investors use operating margin in their analysis

To determine how much profit Jinkosolar is making from it’s core business.

The three steps every investor should look at:

What is the current net profit margin?
The current most recent quarter (MRQ) Operating Margin of Jinkosolar is 9.5%. This means that Jinkosolar earned $0.09 for each $1 in revenue in the most recent quarter.
How does it compare to the industry?
The mean MRQ Operating Margin of the Solar industry is 0.5%.
What is the trend?
The trend is important because it shows you how Jinkosolar is performing over time. The most recent quarter might be important if Jinkosolar released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Jinkosolar up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry
Can be calculated in different ways

How to calculate operating margin

Operating margin = operating earnings / total revenue

Real example of Jinkosolar

You need the following data to determine operating margin:

Income statement
Operating earnings MRQ Jinkosolar = 3,018,116
Total revenue MRQ Jinkosolar = 31,834,258
$3,018,116 / $31,834,258 = 0.09 or 9.5%

Operating margin is used to calculate how much profit a company makes after variable costs of production but before paying interest and taxes. Some variable costs examples are wages, raw materials, packaging, and transaction fees. The amount of variable costs is different for each company and industry. In general, a higher operating margin is better as this implicates that a company is running efficiently.

For investors, a higher operating margin is a good sign. Although you should always look at operating margin in the long term. If operating margin is fluctuating over the years this might be a sign that things are not running efficiently enough. It’s a way to check how much profit a company is making from its core business.

Operation earnings can be calculated in multiple ways:

Operation earnings = EBIT - non operating income + non operating expense
Operation earnings = Gross profit - operating expense - depreciation and amortisation
Operation earnings = Total revenue - COGS (costs of goods sold) - indirect costs

1.2.2. Operating Ratio

Measures how efficient Jinkosolar is keeping operating costs low.

Below 1 is considered healthy (always compare to Solar industry mean).
An Operation Ratio of 0.91 means that the operating costs are $0.91 for each $1 in net sales.

Let's take a look of the Operating Ratio trends of JinkoSolar Holding Company Limited:

The MRQ is 0.910. The company is less efficient in keeping operating costs low.
The TTM is 0.934. The company is less efficient in keeping operating costs low.

Trends

Current period		Compared to		+/-
MRQ	0.910	TTM	0.934	-0.024
TTM	0.934	YOY	0.968	-0.034
TTM	0.934	5Y	0.956	-0.022
5Y	0.956	10Y	0.946	+0.010

Compared to industry (Solar)

Period	Company	Industry (mean)	+/-
MRQ	0.910	1.690	-0.780
TTM	0.934	1.707	-0.773
YOY	0.968	1.672	-0.704
5Y	0.956	1.634	-0.678
10Y	0.946	1.567	-0.621

Measures how efficient Jinkosolar is keeping operating costs low.

If the operating ratio is below 1 that means the company is making money. The lower the operating ratio, the more efficient the company.

How to use operating ratio

Lower is better.
Below 1 is considered healthy but always compare Jinkosolar to the Solar industry mean.
Can be very different between industries.
Can be used to compare companies.

Why do investors use operating ratio in their analysis

Shows if costs of creating products and or services is increasing or decreasing. The lower the operating ratio, the more efficient the company is creating products and services.

The three steps every investor should look at:

What is the current Operatin ratio?
The current most recent quarter (MRQ) Operating Ratio of Jinkosolar is 91.0%. This means that Jinkosolar earned $0.91 for each $1 in net sales in the most recent quarter.
How does it compare to the industry?
The mean MRQ Operating Ratio of the Solar industry is 1.69.
What is the trend?
The trend is important because it shows you how Jinkosolar is performing over time. The most recent quarter might be important if Jinkosolar released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Jinkosolar up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry.
You need COGS to calculate operating ratio which is not always shown in the income statement.
Does not consider debt.

How to calculate operating ratio

Operating ratio = Operating expenses + COGS \ Net sales

Real life example Jinkosolar

You need the following data to determine operating ratio:

Income statement

COGS is not always specified on the income statement. If so you can use the following calculation:

(cost of revenue + total operating expenses) \ total revenue
(25,701,047 +3,257,159) \ 31,834,258 = 0.91

The operating ratio measures the efficiency of a company at keeping low costs while generating profits from sales. It compares the total operating expenses to the net amount of sales. The total operating expenses exists of:

COGS (materials, labour, rent of facility, repairs)
Operating expenses (legal fees, marketing, wages, rent, maintenance/repairs)

Operating expenses are all the costs the company makes that are not directly tied to the production of the service or product. Where COGS are costs that are directly tied to the production of a product or service.

Do note that COGS is not always available in the income statement. Some companies include COGS in the operating expenses while others list COGS separately. To make it even more confusing, COGS is also known as “costs of sales” and costs of sales is the same as costs of revenue.

The operating ratio tells you how efficient the company is creating its products or services while keeping prices low. In this case, a lower ratio is better. Higher or rising operating ratios might tell you that costs are rising while sales are not improving or staying the same.

1.3. Liquidity of JinkoSolar Holding Company Limited.

1.3. Liquidity

1.3.1. Current Ratio

Measures if Jinkosolar is able to pay off Short-term Debt.

Above 1.5 is considered healthy (always compare to Solar industry mean).
A Current Ratio of 1.10 means the company has $1.10 in assets for each $1 in short-term debts.

Let's take a look of the Current Ratio trends of JinkoSolar Holding Company Limited:

The MRQ is 1.102. The company is just able to pay all its short-term debts.
The TTM is 1.083. The company is just able to pay all its short-term debts.

Trends

Current period		Compared to		+/-
MRQ	1.102	TTM	1.083	+0.019
TTM	1.083	YOY	1.045	+0.038
TTM	1.083	5Y	1.036	+0.047
5Y	1.036	10Y	1.005	+0.031

Compared to industry (Solar)

Period	Company	Industry (mean)	+/-
MRQ	1.102	1.386	-0.284
TTM	1.083	1.421	-0.338
YOY	1.045	1.465	-0.420
5Y	1.036	1.536	-0.500
10Y	1.005	1.431	-0.426

Measures if Jinkosolar is able to pay off Short-term Debt.

How to use current ratio

Higher is better
Above 1.5 is considered healthy (always compare to Solar industry mean).
Can be very different between industries
Can be used to compare companies

Why do investors use current ratio in their analysis

Shows if the company can pay of short term debts if needed. A company that can't pay off it's short term debts might get in trouble if they have to pay off their short term debts for whatever reason. For example, markets can change due to global events like covid-19 or the war in Ukraine versus Russia. Because debts are always taken based on future income, it might become troublesome for Jinkosolar if something happens in the market that will cause sales to plummet.

The three steps every investor should look at:

What is the current current Ratio?
The current most recent quarter (MRQ) Current Ratio of Jinkosolar is 1.10. This means Jinkosolar has $1.10 in assets for each $1 in short-term debts.
How does it compare to the industry?
The mean MRQ Current Ratio of the Solar industry is 1.39.
What is the trend?
The trend is important because it shows you how Jinkosolar is performing over time. The most recent quarter might be important if Jinkosolar released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Jinkosolar up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry.
Might be deluded.
Not all assets can always be quickly sold.
Can be manipulated by increasing or decreasing the assets and/or liabilities.

How to calculate current ratio

Current ratio = current assets \ current liabilities

Real life example Jinkosolar

You need the following data to determine operating ratio:

Balance sheet
Current ratio = current assets \ current liabilities
80,814,111 \ 73,325,829) = 1.10

The current ratio measures if Jinkosolar is able to pay short-term debts (obligations). Short term in this context means all debt obligations that are about to expire within one year. The current ratio incorporates current liabilities and current assets. Current assets are all the assets a company has that are expected to be consumed or sold within standard business operations. You can find the current assets in the balance sheet. They consist of:

Inventory
Accounts receivable
Marketable securities
Prepaid expenses
Cash
Cash equivalents
liquid assets

The current liabilities are short term obligations that are due within one year. These consist of:

Short term debts
Dividends
Income taxes
Short-term debts
Accounts payable
Interest payments

The result shows an investor if Jinkosolar is able to pay all its short-term debts if they were due all at once. When the result of the above formula is below 1, then Jinkosolar does not have enough capital after selling all its assets to pay all short-term debts. If the ratio drops far below 1 that might indicate Jinkosolar is or will be in financial trouble anytime soon.

Although this gives an investor some clues, the current ratio may also be deluded. Because owning assets does not mean the company can easily sell them. Also, Accounts receivable may be quite old (they will probably never pay) which deludes the current ratio. As with all ratios, you should only compare them between the same industries and companies.

1.3.2. Quick Ratio

Measures if Jinkosolar is able to pay off Short-term Debt but only using the most liquid assets.

Above 1 is considered healthy but always compare Jinkosolar to the Solar industry mean.
A Quick Ratio of 0.59 means the company can pay off $0.59 for each $1 in debt (using most liquid assets).

Let's take a look of the Quick Ratio trends of JinkoSolar Holding Company Limited:

The MRQ is 0.594. The company is just not able to pay all its short-term debts with the most liquid assets. -1
The TTM is 0.557. The company is just not able to pay all its short-term debts with the most liquid assets. -1

Trends

Current period		Compared to		+/-
MRQ	0.594	TTM	0.557	+0.037
TTM	0.557	YOY	0.415	+0.143
TTM	0.557	5Y	0.473	+0.085
5Y	0.473	10Y	0.478	-0.005

Compared to industry (Solar)

Period	Company	Industry (mean)	+/-
MRQ	0.594	0.475	+0.119
TTM	0.557	0.536	+0.021
YOY	0.415	0.621	-0.206
5Y	0.473	0.734	-0.261
10Y	0.478	0.769	-0.291

Measures if Jinkosolar is able to pay off Short-term Debt but only using the most liquid assets.

How to use quick ratio

Higher is better.
Above 1 is considered healthy but always compare Jinkosolar to the Solar industry mean.
Can be very different between industries.
Can be used to compare companies.

Why do investors use quick ratio in their analysis

Shows how fast Jinkosolar can pay off its short term debts. This shows if Jinkosolar can survive emergencies due to market changes or other reasons.

The three steps every investor should look at:

What is the current Quick Ratio?
The current most recent quarter (MRQ) quickRatio of Jinkosolar is 0.59. This means that Jinkosolar can pay off $0.59 for each $1 in debt (using most liquid assets).
How does it compare to the industry?
The mean MRQ Quick Ratio of the Solar industry is 0.48.
What is the trend?
The trend is important because it shows you how Jinkosolar is performing over time. The most recent quarter might be important if Jinkosolar released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Jinkosolar up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry.
Incorporates only most liquid assets.

How to calculate quick ratio

Quick ratio = cash and equivalents + marketable securities + accounts receivable / current liabilities

Real life example Jinkosolar

You need the following data to determine operating ratio:

Balance sheet
Quick ratio = cash and short-term investments + short-term investments + netReceivables / total current liabilities
MRQ quick ratio Jinkosolar: (13,615,516 + 51,922 +29,891,575) / 73,325,829 = 0.59

The quick ratio measures the same thing as the current ratio, only it uses the most liquid assets a company has. Meaning, the assets that can be sold for cash the easiest and fastest.

As the quick ratio only incorporates the most liquid assets, you should also check the current ratio which also includes less liquid assets. But they may be harder to sell.

1.4. Solvency of JinkoSolar Holding Company Limited.

1.3. Liquidity

1.4.1. Debt to Asset Ratio

Measures how much % of Jinkosolar assets are financed with debt.

Below 1 (100%) is considered healthy but always compare Jinkosolar to Solar industry mean.
A Debt to Asset Ratio of 0.74 means that Jinkosolar assets are financed with 74.0% credit (debt) and the remaining percentage (100% - 74.0%) is financed by its owners/shareholders.

Let's take a look of the Debt to Asset Ratio trends of JinkoSolar Holding Company Limited:

The MRQ is 0.740. The company is able to pay all its debts by selling its assets. +1
The TTM is 0.748. The company is able to pay all its debts by selling its assets. +1

Trends

Current period		Compared to		+/-
MRQ	0.740	TTM	0.748	-0.008
TTM	0.748	YOY	0.784	-0.036
TTM	0.748	5Y	0.759	-0.012
5Y	0.759	10Y	0.768	-0.009

Compared to industry (Solar)

Period	Company	Industry (mean)	+/-
MRQ	0.740	0.582	+0.158
TTM	0.748	0.582	+0.166
YOY	0.784	0.599	+0.185
5Y	0.759	0.616	+0.143
10Y	0.768	0.618	+0.150

Measures how much % of Jinkosolar assets are financed with debt.

When there are more debts than assets, that means creditors have a larger stake Jinkosolar than its shareholders.

How to use debt to asset ratio

Lower is better.
below 1 (100%) is considered healthy but always compare Jinkosolar to Solar industry mean.
Can be very different between industries.
Can be used to compare companies.

Why do investors use the debt to asset ratio in their analysis

It shows how much debt the company used to finance its assets. If a company is almost entirely financed with debt that means the company might get into serious trouble when emergencies arise like a raise in interest.

The three steps every investor should look at:

What is the current debt to asset ratio?
The current most recent quarter (MRQ) Debt to Asset Ratio of Jinkosolar is 0.74. This means means that Jinkosolar is financed with 74.0% credit and the remaining percentage is financed by it's owners (shareholders).
How does it compare to the industry?
The mean MRQ Current Ratio of the Solar industry is 138.6%.
What is the trend?
The trend is important because it shows you how Jinkosolar is performing over time. The most recent quarter might be important if Jinkosolar released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Jinkosolar up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry
Some companies can have higher debt to assets ratio's (for example, banks).
Debt to asset ratio should improve over the years.
If the debt to asset ratio is above 1, look at the industry mean and find out why Jinkosolar has so much debt.

How to calculate debt to asset ratio

Debt to asset ratio = total debt \ total assets

Real life example Jinkosolar

You need the following data to determine debt to asset ratio:

Balance sheet
Debt to asset ratio = total debt \ total assets
94,258,027 \ 127,348,439 = 74.0% or 0.74.

The debt to total assets ratio shows if the company is owned by creditors or shareholders. Or in other words, the total debt in relation to the total amount of assets. It shows how much debt the company used to finance its assets.

1.4.2. Debt to Equity Ratio

Measures if Jinkosolar is able to pay off its debts by using shareholders equity.

Below 2 is considered healthy but always compare Jinkosolar to the Solar industry mean.
A Debt to Equity ratio of 470.6% means that company has $4.71 debt for each $1 in shareholders equity.

Let's take a look of the Debt to Equity Ratio trends of JinkoSolar Holding Company Limited:

The MRQ is 4.706. The company is unable to pay all its debts with equity. -1
The TTM is 4.881. The company is unable to pay all its debts with equity. -1

Trends

Current period		Compared to		+/-
MRQ	4.706	TTM	4.881	-0.176
TTM	4.881	YOY	5.371	-0.489
TTM	4.881	5Y	4.373	+0.508
5Y	4.373	10Y	4.190	+0.183

Compared to industry (Solar)

Period	Company	Industry (mean)	+/-
MRQ	4.706	1.364	+3.342
TTM	4.881	1.364	+3.517
YOY	5.371	1.514	+3.857
5Y	4.373	1.651	+2.722
10Y	4.190	1.592	+2.598

Measures if Jinkosolar is able to pay off its debts by using shareholders equity.

How to use debt to equity ratio

Lower is better.
Below 2 is considered healthy (always use industry average).
Can be very different between industries.
Can be used to compare companies.

Why do investors use the debt to shareholders equity ratio in their analysis

It shows how much debt the company uses to finance their operations. Shareholders equity is whats left over when you subtract total liabilities from total assets. It's another way to meassure how much of Jinkosolar is financed with debt or own resources.

The three steps every investor should look at:

What is the current debt to equity ratio?
The current most recent quarter (MRQ) quickRatio of Jinkosolar is 4.71. This means that Jinkosolar can pay off $4.71 for each $1 in debt.
How does it compare to the industry?
The mean MRQ Quick Ratio of the Solar industry is 1.36.
What is the trend?
The trend is important because it shows you how Jinkosolar is performing over time. The most recent quarter might be important if Jinkosolar released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Jinkosolar up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry.
Not all debt is equally risky (for example, short term risk is less risky).

How to calculate debt to equity ratio

Debt to equity ratio = total debt \ shareholders equity.

Real life example Jinkosolar

You need the following data to determine equity ratio:

Balance sheet
Debt to equity ratio = total debt \ shareholders equity
94,258,027 \ 20,029,751 = 4.71 or 470.6%

Debt to equity measures the total debt versus the total shareholders equity. While the total debts to total assets ratio uses total assets, the debt to equity ratio looks at the total equity of shareholders. Where equity of shareholders are:

Common shares.
Preferred shares.
Retained earnings.

You can find the shareholders' equity in the balance sheet. A ratio between 0,5 and 1,5 is preferred. If the ratio is above 1.5, that would indicate creditors have significantly more stake (debt) in the company than the shareholders. In other words, the company is using a lot of debt to finance their operations.

Not all debt is equally risky. Meaning you can adjust the ratio by including or excluding certain amounts of debt. Short term debts are less risky because they have to be paid back within one year anyway. It’s much easier to plan one year ahead versus five or ten years.

2. Market Valuation of JinkoSolar Holding Company Limited

2.1. Earnings Per Share

2.1. Price to Earnings Ratio

Measures how much money you pay for each share for every $1 in earnings Jinkosolar generates.

Above 15 is considered overpriced but always compare Jinkosolar to the Solar industry mean.
A PE ratio of 2.32 means the investor is paying $2.32 for every $1 in earnings.

Let's take a look of the Price to Earnings Ratio trends of JinkoSolar Holding Company Limited:

The EOD is 1.844. Based on the earnings, the company is cheap. +2
The MRQ is 2.320. Based on the earnings, the company is cheap. +2
The TTM is 3.840. Based on the earnings, the company is cheap. +2

Trends

Current period		Compared to		+/-
EOD	1.844	MRQ	2.320	-0.476
MRQ	2.320	TTM	3.840	-1.520
TTM	3.840	YOY	43.372	-39.532
TTM	3.840	5Y	170.199	-166.359
5Y	170.199	10Y	286.292	-116.093

Compared to industry (Solar)

Period	Company	Industry (mean)	+/-
EOD	1.844	-0.268	+2.112
MRQ	2.320	-0.698	+3.018
TTM	3.840	0.022	+3.818
YOY	43.372	-2.234	+45.606
5Y	170.199	-1.786	+171.985
10Y	286.292	2.407	+283.885

Measures how much money you pay for each share for every $1 in earnings Jinkosolar generates.

Indicates if the company’s shares are under or overvalued.

How to use PE ratio

Above 15 is considered overpriced but is hard to determine. Always compare Jinkosolar to the Solar industry mean.
Can be very different between industries.
Can be used to compare companies.

Why do investors use PE ratio in their analysis

The PE ratio tells investors the current sentiment in the market for that company. As with every stock, the stock price never shows the real valuation of a company but rather how the market thinks how much the stock is worth.

In other words, the current stock price also incorporates any future earnings or business opportunities in the future. The best example is the stock market crash in 2000. The PE ratio for any internet based company was going through the roof. Only based on the general assumption the internet and all associated businesses would thrive in the future. But this was based on nothing. A business still needs a good product or service to be able to survive. Instead, every investor bought any stock which did something related to the internet. Result: huge market crash.

Many investors were willing to pay premium prices and that was causing the PE ratio to rise. A high PE ratio is a warning sign that investors might be overvaluing a stock based on future earnings.

The three steps every investor should look at:

What is the current PE Ratio?
The current most recent quarter (MRQ) PE Ratio of Jinkosolar is 2.32. This means the investor is paying $2.32 for every $1 in earnings.
How does it compare to the industry?
The mean MRQ Quick Ratio of the Solar industry is -0.70.
What is the trend?
The trend is important because it shows you how Jinkosolar is performing over time. The most recent quarter might be important if Jinkosolar released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Jinkosolar up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry.
Some industries might have very high or very low PE ratios in general.
PE ratios can be high for several years, it does not mean a sudden collapse is imminent.
Earnings growth is not included in the PE ratio.

How to calculate PE ratio

PE ratio = market value per share \ earnings per share

Real life example Jinkosolar

You need the following data to determine the PE ratio:

Balance sheet
Income statement

The PE ratio is a very commonly used ratio to determine the value of a company by comparing the current stock price relative to its earnings per share (EPS). Before we can calculate the PE ratio we need to know the EPS. EPS is calculated as follows:

EPS = (net profit - preferred dividends) \ end of period outstanding shares*
Net profit = revenue - expenses
1,323,373 \ 55,796 = EPS
PE ratio MRQ = 2.32

* The net profit minus preferred dividends can be found in the incomestatement as netIncomeApplicableToCommonShares.

The PE value helps investors to determine if the current stock price is under or overvalued. It also projects future growth.

In general, a higher PE ratio means that investors predict higher future growth. If the PE ratio is too high, then investors expect way too much future growth the company can never fulfil. This is most likely to happen in faster moving companies like tech companies or automobile companies like Tesla. These are hot and booming markets where investors expect much future growth driven by new technology (electric cars). When looking at the current MRQ (most recent quarter) PE ratio of Tesla ( jan. 2021) it's about 247 while the average in the industry is only 6. That might be a clue that Tesla is trading for way too high prices compared to their current assets and is more based on future growth.

2.2. Price To Free Cash Flow Ratio

Let's take a look of the Price To Free Cash Flow Ratio trends of JinkoSolar Holding Company Limited:

The MRQ is 0.000. The data is not here.

Trends

Current period		Compared to		+/-
MRQ	-	TTM	-0.068	+0.068
TTM	-0.068	YOY	0.000	-0.068
TTM	-0.068	5Y	1.756	-1.824
5Y	1.756	10Y	422.947	-421.192

Compared to industry (Solar)

Period	Company	Industry (mean)	+/-
MRQ	-	-3.551	+3.551
TTM	-0.068	-4.280	+4.212
YOY	0.000	-6.834	+6.834
5Y	1.756	-8.979	+10.735
10Y	422.947	-7.959	+430.906

2. Book Value per Share

2.3. Price to Book Ratio

Measures if the stock price of Jinkosolar is to cheap or to expensive compared to its book value.

At or below 1 is considered healthy (always compare to Solar industry mean).
A PB ratio of 0.37 means the investor is paying $0.37 for each $1 in book value.

Let's take a look of the Price to Book Ratio trends of JinkoSolar Holding Company Limited:

The EOD is 0.295. Based on the equity, the company is cheap. +2
The MRQ is 0.371. Based on the equity, the company is cheap. +2
The TTM is 0.573. Based on the equity, the company is cheap. +2

Trends

Current period		Compared to		+/-
EOD	0.295	MRQ	0.371	-0.076
MRQ	0.371	TTM	0.573	-0.202
TTM	0.573	YOY	1.079	-0.506
TTM	0.573	5Y	0.868	-0.295
5Y	0.868	10Y	1.347	-0.479

Compared to industry (Solar)

Period	Company	Industry (mean)	+/-
EOD	0.295	1.408	-1.113
MRQ	0.371	1.496	-1.125
TTM	0.573	1.822	-1.249
YOY	1.079	2.943	-1.864
5Y	0.868	1.902	-1.034
10Y	1.347	2.252	-0.905

2. Total Gains per Share

3. Holders & Insider Transactions

Let's take a look at which institutions, funds and insiders are holding shares of JinkoSolar Holding Company Limited.

3.1. Institutions holding JinkoSolar Holding Company Limited

Institutions are holding 39.114% of the shares of JinkoSolar Holding Company Limited.

Date	Name	Total Shares	Total Assets	Current Shares	Change	%
2023-12-31	Mackenzie Investments	4.8842	0.1397	2507738	-170294	-6.3589
2023-12-31	Morgan Stanley - Brokerage Accounts	4.8329	0.0081	2481368	455366	22.4761
2023-12-31	Vanguard Group Inc	3.0707	0.0013	1576610	22254	1.4317
2023-12-31	Amvescap Plc.	3.0211	0.0136	1551144	-106741	-6.4384
2023-12-31	Handelsbanken Fonder AB	2.91	0.2682	1494085	0	0
2023-12-31	BlackRock Inc	1.7647	0.0009	906083	4388	0.4866
2023-12-31	Causeway Capital Management LLC	1.6099	0.7774	826558	621339	302.7687
2023-12-31	Dimensional Fund Advisors, Inc.	1.2885	0.0071	661563	92737	16.3032
2023-12-31	HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND	1.176	0.0761	603800	-30900	-4.8684
2023-12-31	Greenwoods Asset Management Hong Kong Ltd.	1.11	0.7514	569933	0	0
2023-12-31	State Street Corporation	1.0606	0.001	544527	3045	0.5623
2023-12-31	Goldman Sachs Group Inc	0.7405	0.0013	380208	195509	105.8528
2023-12-31	Marshall Wace Asset Management Ltd	0.6902	0.0222	354352	-376489	-51.5145
2023-12-31	Vontobel Holding Ltd.	0.6361	0.0606	326585	5800	1.8081
2023-09-30	Point72 Asset Management, L.P.	0.5902	0.0269	303055	-47706	-13.6007
2023-12-31	Point72 Asia (Singapore) Pte. Ltd	0.522	2.4211	268038	268038	0
2023-12-31	Bank of America Corp	0.4598	0.0009	236082	-202141	-46.1274
2023-12-31	Barclays PLC	0.2912	0.002	149506	83550	126.6754
2023-12-31	Cubist Systematic Strategies, LLC	0.28	0.0345	143759	122344	571.3005
2023-12-31	Lombard Odier Asset Management USA Corp	0.2337	0.0806	120000	-90000	-42.8571
Total		31.1723	4.6949	16004994	+850099	+5.3%

3.2. Funds holding JinkoSolar Holding Company Limited

Date	Name	Total Shares	Total Assets	Current Shares	Change	%
2023-11-30	Mackenzie Grnchp Glbl Envr All Cap F5	4.1501	3.2798	2123665	-200000	-8.6071
2024-01-31	Handelsbanken Hållbar Energi A1 SEK	2.7227	1.9957	1393260	-100825	-6.7483
2024-02-29	Invesco Solar ETF	2.0955	2.2907	1072313	0	0
2024-01-31	Vanguard Emerging Mkts Stock Idx Inv	1.0745	0.0143	549830	0	0
2024-01-31	Vanguard Total Intl Stock Index Inv	1.0661	0.0036	545522	0	0
2024-01-31	Luxembourg Selection Active Solar C USD	0.9576	6.8261	490000	0	0
2024-01-24	iShares Core MSCI Emerging Markets ETF	0.7368	0.0159	377058	0	0
2024-01-31	Storebrand Global Solutions A	0.5756	0.7949	294560	-4713	-1.5748
2023-12-31	DFA Emerging Markets Core Equity I	0.5612	0.0404	287201	21822	8.223
2024-01-31	Storebrand Global Solutions A SEK	0.5424	0.8177	277569	0	0
2024-01-31	Vanguard Instl Ttl Intl Stk Mkt Idx TrII	0.5107	0.0036	261337	0	0
2024-01-31	green benefit Global Impact Fund I	0.4542	6.0079	232433	0	0
2023-12-31	Causeway Emerging Markets Instl	0.4541	0.7266	232365	146665	171.1377
2024-02-29	Invesco WilderHill Clean Energy ETF	0.3994	1.5066	204357	-792	-0.3861
2024-02-29	SPDR® Kensho Clean Power ETF	0.314	2.0696	160665	-2415	-1.4809
2024-01-31	Storebrand Renewable Energy S	0.3119	3.4835	159620	0	0
2024-01-31	Vanguard FTSE All-Wld ex-US SmCp Idx Ins	0.2929	0.0359	149905	0	0
2023-12-31	DFA Emerging Markets Small Cap I	0.277	0.1255	141757	0	0
2024-01-31	State St Gbl Sm Cp Eq ex-US Indx NL Cl A	0.1966	0.0285	100600	3600	3.7113
2024-02-28	iShares Core MSCI EM IMI ETF USD Acc	0.1902	0.0133	97328	0	0
Total		17.8835	30.0801	9151345	-136658	-1.5%

4. Summary

4.1. Key Performance Indicators

The key performance indicators of JinkoSolar Holding Company Limited compared to the Most Recent Quarter (MRQ).

	End of day	+/-	Most Recent Quarter	Trailing 12 Months	+/-	Year-Over-Year	+/-	5 Year	+/-	10 Year	+/-
Book Value Change Per Share	-	-	4.230	4.173	+1%	6.817	-38%	2.945	+44%	1.918	+121%
Book Value Per Share	-	-	81.843	73.895	+11%	52.634	+55%	45.047	+82%	30.195	+171%
Current Ratio	-	-	1.102	1.083	+2%	1.045	+6%	1.036	+6%	1.005	+10%
Debt To Asset Ratio	-	-	0.740	0.748	-1%	0.784	-6%	0.759	-3%	0.768	-4%
Debt To Equity Ratio	-	-	4.706	4.881	-4%	5.371	-12%	4.373	+8%	4.190	+12%
Dividend Per Share	-	-	-	-	0%	15.562	-100%	7.453	-100%	3.727	-100%
Eps	-	-	3.273	2.893	+13%	0.093	+3429%	0.818	+300%	0.438	+647%
Gross Profit Margin	-	-	-0.314	-1.302	+314%	-1.583	+404%	-5.051	+1508%	-5.178	+1548%
Market Cap	1197114670.000	-42%	1694516593.430	2303251704.918	-26%	2828472966.448	-40%	1939297269.038	-13%	1516222727.894	+12%
Net Profit Margin	-	-	0.042	0.032	+28%	0.006	+584%	0.016	+162%	0.030	+40%
Operating Margin	-	-	0.095	0.053	+79%	0.020	+380%	0.038	+149%	0.048	+98%
Operating Ratio	-	-	0.910	0.934	-3%	0.968	-6%	0.956	-5%	0.946	-4%
Pb Ratio	0.295	-26%	0.371	0.573	-35%	1.079	-66%	0.868	-57%	1.347	-72%
Pe Ratio	1.844	-26%	2.320	3.840	-40%	43.372	-95%	170.199	-99%	286.292	-99%
Price Per Share	24.140	-26%	30.370	41.663	-27%	54.705	-44%	37.560	-19%	29.802	+2%
Price To Free Cash Flow Ratio	-	-	-	-0.068	0%	0.000	0%	1.756	-100%	422.947	-100%
Price To Total Gains Ratio	5.707	-26%	7.179	-80.851	+1226%	23.391	-69%	-5571178.322	+77599506%	-2529308.540	+35230141%
Quick Ratio	-	-	0.594	0.557	+7%	0.415	+43%	0.473	+26%	0.478	+24%
Return On Assets	-	-	0.010	0.008	+24%	0.001	+659%	0.003	+204%	0.006	+83%
Return On Equity	-	-	0.066	0.054	+21%	0.009	+632%	0.020	+231%	0.032	+109%
Total Gains Per Share	-	-	4.230	4.173	+1%	22.380	-81%	10.398	-59%	5.645	-25%
Usd Book Value	-	-	4566476856.000	4091793805.500	+12%	2730173508.000	+67%	2350674243.940	+94%	1555751391.459	+194%
Usd Book Value Change Per Share	-	-	4.230	4.173	+1%	6.817	-38%	2.945	+44%	1.918	+121%
Usd Book Value Per Share	-	-	81.843	73.895	+11%	52.634	+55%	45.047	+82%	30.195	+171%
Usd Dividend Per Share	-	-	-	-	0%	15.562	-100%	7.453	-100%	3.727	-100%
Usd Eps	-	-	3.273	2.893	+13%	0.093	+3429%	0.818	+300%	0.438	+647%
Usd Free Cash Flow	-	-	-	-641447318.723	0%	-283719477772.223	0%	-69294862445.254	0%	-35977388638.381	0%
Usd Market Cap	1197114670.000	-42%	1694516593.430	2303251704.918	-26%	2828472966.448	-40%	1939297269.038	-13%	1516222727.894	+12%
Usd Price Per Share	24.140	-26%	30.370	41.663	-27%	54.705	-44%	37.560	-19%	29.802	+2%
Usd Profit	-	-	182625474.000	138143761.500	+32%	13989336.000	+1205%	39321144.354	+364%	31259406.272	+484%
Usd Revenue	-	-	4393127604.000	4240913811.000	+4%	2454187652.966	+79%	2039112886.327	+115%	1350039033.386	+225%
Usd Total Gains Per Share	-	-	4.230	4.173	+1%	22.380	-81%	10.398	-59%	5.645	-25%
	EOD	+3 -4	MRQ	TTM	+25 -3	YOY	+20 -10	5Y	+23 -8	10Y	+25 -6

4.2. Fundamental Score

Let's check the fundamental score of JinkoSolar Holding Company Limited based on Penke's default stock scanner.

Penke's Stock Scanner

Indicator	Condition		Value
Price to Earnings Ratio (EOD)	Between	0-15	1.844
Price to Book Ratio (EOD)	Between	0-1	0.295
Net Profit Margin (MRQ)	Greater than	0	0.042
Operating Margin (MRQ)	Greater than	0	0.095
Quick Ratio (MRQ)	Greater than	1	0.594
Current Ratio (MRQ)	Greater than	1	1.102
Debt to Asset Ratio (MRQ)	Less than	1	0.740
Debt to Equity Ratio (MRQ)	Less than	1	4.706
Return on Equity (MRQ)	Greater than	0.15	0.066
Return on Assets (MRQ)	Greater than	0.05	0.010
Total			6/10 (60.0%)

Create your own Stock Scanner

Investing is personal. The best investors buy stocks based on their own analysis. Create your personal Stock Scanner with the key performance indicators that are important to you.
Create your own Stock Scanner

4.3. Technical Score

Let's check the technical score of JinkoSolar Holding Company Limited based on Penke's default Symbol scanner.

Penke's Symbol Scanner

Indicator	Condition		Value
Rsi	Greater than	50	52.502
Ma 20	Greater than	Ma 50	23.371
Ma 50	Greater than	Ma 100	25.034
Ma 100	Greater than	Ma 200	27.827
Open	Greater than	Close	23.210
Total			1/5 (20.0%)

Create your own Symbol Scanner

Trading is personal. The best traders buy and sell based on their own technical analysis. Create your personal Symbol Scanner with the technical indicators that are important to you.
Create your own Symbol Scanner

Reversals in quarterly reports

I have detected a reversal (positive to negative, negative to positive) in the following values of the quarterly reports.

		2022-09-30		2022-12-31		2023-03-31		2023-06-30		2023-09-30
Total Other Income Expense Net		121,801	-51,115	70,686	-9,108	61,579	29,753	91,332	-131,384	-40,052

Latest Balance Sheet

Balance Sheet of 2023-09-30. Currency in CNY. All numbers in thousands.

Summary

Total Assets	127,348,439
Total Liabilities	94,258,027
Total Stockholder Equity	20,029,751

	As reported
Total Liabilities	94,258,027
Total Stockholder Equity	+ 20,029,751
Total Assets	= 127,348,439

Assets

Total Assets	127,348,439
Total Current Assets	80,814,111
Long-term Assets	40,892,847

Total Current Assets

Total Current Assets (as reported)	80,814,111
Cash And Cash Equivalents	13,563,594
Short-term Investments	51,922
Net Receivables	29,891,575
Inventory	23,135,433
Other Current Assets	14,171,587
Total Current Assets (calculated)	80,814,111
+/-	0

Long-term Assets

Long-term Assets (as reported)	40,892,847
Property Plant Equipment	36,739,856
Long Term Investments	2,352,860
Intangible Assets	1,800,131
Long-term Assets Other	-703,856
Long-term Assets (calculated)	40,188,991
+/-	703,856

Liabilities & Shareholders' Equity

Total Current Liabilities	73,325,829
Long-term Liabilities	17,580,521
Total Stockholder Equity	20,029,751

Total Current Liabilities

Total Current Liabilities (as reported)	73,325,829
Short-term Debt	35,918,300
Short Long Term Debt	35,767,846
Accounts payable	14,158,209
Other Current Liabilities	1,519,138
Total Current Liabilities (calculated)	87,363,493
+/-	14,037,664

Long-term Liabilities

Long-term Liabilities (as reported)	17,580,521
Long term Debt	17,580,521
Capital Lease Obligations	466,642
Other Liabilities	3,035,489
Long-term Liabilities (calculated)	21,082,652
+/-	3,502,131

Total Stockholder Equity

Total Stockholder Equity (as reported)	20,029,751
Common Stock	29
Retained Earnings	9,112,599
Accumulated Other Comprehensive Income	390,766
Other Stockholders Equity	10,526,357
Total Stockholder Equity (calculated)	20,029,751
+/-	0

Other

Capital Stock	29
Cash and Short Term Investments	13,615,516
Common Stock Shares Outstanding	55,796
Current Deferred Revenue	21,730,182
Liabilities and Stockholders Equity	127,348,439
Net Debt	40,251,415
Net Invested Capital	73,378,118
Net Tangible Assets	18,229,620
Net Working Capital	7,488,282
Property Plant and Equipment Gross	36,739,856
Short Long Term Debt Total	53,815,009

Balance Sheet

Currency in CNY. All numbers in thousands.

Trend

2023-09-30

2023-06-30

2023-03-31

2022-12-31

2022-09-30

2022-06-30

2022-03-31

2021-12-31

2021-09-30

2021-06-30

2021-03-31

2020-12-31

2020-09-30

2020-06-30

2020-03-31

2019-12-31

2019-09-30

2019-06-30

2019-03-31

2018-12-31

2018-09-30

2018-06-30

2018-03-31

2017-12-31

2017-09-30

2017-06-30

2017-03-31

2016-12-31

2016-09-30

2016-06-30

2016-03-31

2015-12-31

2015-09-30

2015-06-30

2015-03-31

2014-12-31

2014-09-30

2014-06-30

2014-03-31

2013-12-31

2013-09-30

2013-06-30

2013-03-31

2012-12-31

2012-09-30

2012-06-30

2012-03-31

2011-12-31

2011-09-30

2011-06-30

2011-03-31

2010-12-31

2010-09-30

2010-06-30

2010-03-31

2009-12-31

2009-09-30

2009-06-30

2009-03-31

2008-12-31

2007-12-31

> Total Assets

76,670
1,278,020
0
2,072,671
301,186
328,550
2,588,000
3,408,251
4,870,147
5,880,346
5,880,346
10,039,034
9,789,000
9,176,000
9,176,000
9,324,827
9,057,440
8,372,320
8,372,320
9,899,446
10,404,717
10,611,225
10,611,225
13,401,897
15,638,109
19,087,636
19,083,903
21,910,906
25,569,543
27,144,548
27,144,549
30,750,423
34,010,396
26,090,640
27,003,052
28,071,862
29,644,641
28,636,405
28,636,405
32,883,081
35,325,784
35,853,183
35,853,182
43,744,291
45,026,768
47,844,718
47,844,717
49,601,696
50,012,892
53,232,374
53,232,375
57,357,987
63,996,810
72,983,484
72,983,487
103,243,449
111,059,076
108,696,198
108,662,182
125,071,297
127,348,439

127,348,439

125,071,297

108,662,182

108,696,198

111,059,076

103,243,449

72,983,487

72,983,484

63,996,810

57,357,987

53,232,375

53,232,374

50,012,892

49,601,696

47,844,717

47,844,718

45,026,768

43,744,291

35,853,182

35,853,183

35,325,784

32,883,081

28,636,405

29,644,641

28,071,862

27,003,052

26,090,640

34,010,396

30,750,423

27,144,549

27,144,548

25,569,543

21,910,906

19,083,903

19,087,636

15,638,109

13,401,897

10,611,225

10,404,717

9,899,446

8,372,320

9,057,440

9,324,827

9,176,000

9,789,000

10,039,034

5,880,346

4,870,147

3,408,251

2,588,000

328,550

301,186

2,072,671

1,278,020

76,670

> Total Current Assets

0
528,980
0
1,028,649
136,661
0
1,195,000
1,754,222
2,673,676
3,194,474
3,194,474
5,896,167
5,414,000
4,608,000
4,608,000
5,184,018
5,013,675
3,985,608
3,985,609
5,204,816
5,474,862
5,342,721
5,342,723
7,109,104
8,649,200
10,407,320
10,403,586
11,559,938
14,616,955
14,594,590
22,494,804
16,116,352
17,530,149
19,695,296
20,018,993
20,463,525
21,438,204
19,607,857
19,607,856
21,658,559
22,739,427
22,854,262
22,854,260
28,357,541
28,529,596
31,688,248
31,688,247
32,290,820
32,318,138
33,682,130
33,682,131
34,505,971
39,668,151
45,499,455
45,524,074
68,472,576
72,580,537
68,411,310
68,327,294
80,826,973
80,814,111

80,814,111

80,826,973

68,327,294

68,411,310

72,580,537

68,472,576

45,524,074

45,499,455

39,668,151

34,505,971

33,682,131

33,682,130

32,318,138

32,290,820

31,688,247

31,688,248

28,529,596

28,357,541

22,854,260

22,854,262

22,739,427

21,658,559

19,607,856

19,607,857

21,438,204

20,463,525

20,018,993

19,695,296

17,530,149

16,116,352

22,494,804

14,594,590

14,616,955

11,559,938

10,403,586

10,407,320

8,649,200

7,109,104

5,342,723

5,342,721

5,474,862

5,204,816

3,985,609

3,985,608

5,013,675

5,184,018

4,608,000

5,414,000

5,896,167

3,194,474

2,673,676

1,754,222

1,195,000

136,661

1,028,649

528,980

Cash And Cash Equivalents

0
27,324
0
214,109
24,865
22,338
160,000
369,016
451,794
521,205
521,205
575,776
560,000
434,000
434,000
466,186
228,449
279,130
279,130
453,255
950,002
456,076
456,076
991,778
1,778,890
1,777,021
1,777,021
1,752,478
3,167,840
3,683,664
2,392,591
3,403,496
3,355,114
2,501,417
1,468,630
1,531,000
2,117,949
1,928,303
1,928,303
2,299,826
2,689,359
3,104,917
3,104,917
3,727,162
3,705,424
5,653,854
5,653,854
6,256,894
5,774,669
7,481,678
7,481,678
5,704,725
6,622,930
8,321,415
8,321,415
13,284,511
14,305,664
10,372,700
10,243,500
14,701,590
13,563,594

13,563,594

14,701,590

10,243,500

10,372,700

14,305,664

13,284,511

8,321,415

6,622,930

5,704,725

7,481,678

5,774,669

6,256,894

5,653,854

3,705,424

3,727,162

3,104,917

2,689,359

2,299,826

1,928,303

2,117,949

1,531,000

1,468,630

2,501,417

3,355,114

3,403,496

2,392,591

3,683,664

3,167,840

1,752,478

1,777,021

1,778,890

991,778

456,076

950,002

453,255

279,130

228,449

466,186

434,000

560,000

575,776

521,205

451,794

369,016

160,000

22,338

24,865

214,109

27,324

Short-term Investments

0
1,416
0
0
6,006
18,062
17,700
26,042
48,776
34,706
34,706
294,895
126,935
494,215,034
494,215,034
627,951
618,087
722,461
1,009,715
1,021,495
846,303
734,093
72,500
60,000
4,000
132,876
132,876
22,348
23,033
29,427
29,427
12,865
6,526
71,301
174,557
93,282
67,888
2,685
2,685
4,642
601,636
0
5,134,906
5,797,915
1,235,274
1,170,818
1,170,818
0
0
570,000
570,000
873,007
420,000
150,000
150,000
100,753
103,778
104,499
104,499
80,989
51,922

51,922

80,989

104,499

103,778

100,753

150,000

420,000

873,007

570,000

1,170,818

1,235,274

5,797,915

5,134,906

601,636

4,642

2,685

67,888

93,282

174,557

71,301

6,526

12,865

29,427

23,033

22,348

132,876

4,000

60,000

72,500

734,093

846,303

1,021,495

1,009,715

722,461

618,087

627,951

494,215,034

126,935

294,895

34,706

48,776

26,042

17,700

18,062

6,006

1,416

Net Receivables

0
187,740
0
328,547
46,895
0
273,000
281,728
620,886
1,013,906
1,013,906
1,818,540
1,678,000
2,577,000
2,577,000
1,972,259
2,205,000
1,838,410
1,818,217
2,290,061
1,693,759
2,272,929
2,230,564
2,984,335
2,982,011
3,413,594
3,365,718
3,939,423
4,275,154
3,978,819
3,266,935
4,945,431
6,153,182
7,693,314
7,872,610
8,167,448
7,633,547
7,228,501
7,181,908
7,282,625
7,154,088
7,191,530
7,122,607
6,906,154
6,885,793
7,387,566
7,335,283
8,461,401
7,762,525
6,212,824
6,029,679
5,219,006
5,893,828
9,263,154
9,189,622
14,039,638
14,584,214
24,330,321
23,794,509
26,168,860
29,891,575

29,891,575

26,168,860

23,794,509

24,330,321

14,584,214

14,039,638

9,189,622

9,263,154

5,893,828

5,219,006

6,029,679

6,212,824

7,762,525

8,461,401

7,335,283

7,387,566

6,885,793

6,906,154

7,122,607

7,191,530

7,154,088

7,282,625

7,181,908

7,228,501

7,633,547

8,167,448

7,872,610

7,693,314

6,153,182

4,945,431

3,266,935

3,978,819

4,275,154

3,939,423

3,365,718

3,413,594

2,982,011

2,984,335

2,230,564

2,272,929

1,693,759

2,290,061

1,818,217

1,838,410

2,205,000

1,972,259

2,577,000

1,678,000

1,818,540

1,013,906

620,886

281,728

273,000

46,895

328,547

187,740

Inventory

23,598
272,030
0
315,258
50,938
35,921
398,000
470,778
542,041
819,515
819,515
1,057,408
1,110,000
798,000
798,000
926,959
852,585
527,962
527,962
529,571
629,624
712,029
712,029
1,000,378
1,493,740
1,891,148
1,891,148
2,949,752
3,962,956
3,203,325
3,203,325
3,097,311
3,258,802
4,799,281
5,370,024
5,204,392
5,242,139
4,273,730
4,670,806
5,890,591
5,560,133
5,743,328
6,408,549
6,633,699
6,072,596
5,818,789
8,341,162
9,020,273
9,748,212
8,376,936
9,379,549
11,806,904
15,803,722
13,252,352
14,788,507
21,768,810
27,614,906
17,085,895
20,778,428
23,819,780
23,135,433

23,135,433

23,819,780

20,778,428

17,085,895

27,614,906

21,768,810

14,788,507

13,252,352

15,803,722

11,806,904

9,379,549

8,376,936

9,748,212

9,020,273

8,341,162

5,818,789

6,072,596

6,633,699

6,408,549

5,743,328

5,560,133

5,890,591

4,670,806

4,273,730

5,242,139

5,204,392

5,370,024

4,799,281

3,258,802

3,097,311

3,203,325

3,962,956

2,949,752

1,891,148

1,493,740

1,000,378

712,029

629,624

529,571

527,962

852,585

926,959

798,000

1,110,000

1,057,408

819,515

542,041

470,778

398,000

35,921

50,938

315,258

272,030

23,598

> Long-term Assets

0
749,040
0
1,044,021
0
0
1,393,000
1,654,029
2,196,471
2,685,872
2,685,872
4,142,867
4,375,000
4,568,000
4,568,000
4,140,809
3,839,800
4,386,712
3,737,179
3,808,364
3,821,576
5,268,504
3,688,538
3,709,506
3,667,847
8,680,316
3,588,765
3,903,659
4,002,143
12,549,958
4,144,022
4,473,119
4,788,997
5,217,119
5,757,525
6,366,425
6,551,726
9,028,548
7,197,521
7,792,384
8,335,647
12,998,921
8,911,737
9,730,900
10,818,940
16,156,470
12,698,160
13,511,177
13,850,000
19,550,244
14,592,135
18,174,732
19,864,351
27,484,029
22,816,164
29,247,130
33,860,596
40,284,888
36,467,557
39,098,013
40,892,847

40,892,847

39,098,013

36,467,557

40,284,888

33,860,596

29,247,130

22,816,164

27,484,029

19,864,351

18,174,732

14,592,135

19,550,244

13,850,000

13,511,177

12,698,160

16,156,470

10,818,940

9,730,900

8,911,737

12,998,921

8,335,647

7,792,384

7,197,521

9,028,548

6,551,726

6,366,425

5,757,525

5,217,119

4,788,997

4,473,119

4,144,022

12,549,958

4,002,143

3,903,659

3,588,765

8,680,316

3,667,847

3,709,506

3,688,538

5,268,504

3,821,576

3,808,364

3,737,179

4,386,712

3,839,800

4,140,809

4,568,000

4,375,000

4,142,867

2,685,872

2,196,471

1,654,029

1,393,000

1,044,021

749,040

Property Plant Equipment

7,880
352,929
0
545,254
86,191
108,628
815,000
1,048,496
1,558,384
1,938,978
1,938,978
3,180,025
3,561,000
3,841,000
3,841,000
3,513,074
3,458,769
3,866,264
3,329,873
3,339,581
3,331,930
4,545,942
3,186,998
3,199,098
3,171,841
7,454,865
3,101,795
3,411,948
3,470,845
10,816,184
3,766,436
3,977,421
4,273,985
4,738,681
5,278,158
5,885,094
6,028,169
7,153,918
6,680,187
7,132,508
7,670,817
10,046,521
8,275,900
8,814,386
9,935,344
12,584,065
11,785,821
12,588,388
12,922,395
14,246,433
13,601,078
17,143,577
18,631,691
21,036,756
21,036,757
27,252,791
31,181,257
33,245,461
33,245,461
34,833,048
36,739,856

36,739,856

34,833,048

33,245,461

31,181,257

27,252,791

21,036,757

21,036,756

18,631,691

17,143,577

13,601,078

14,246,433

12,922,395

12,588,388

11,785,821

12,584,065

9,935,344

8,814,386

8,275,900

10,046,521

7,670,817

7,132,508

6,680,187

7,153,918

6,028,169

5,885,094

5,278,158

4,738,681

4,273,985

3,977,421

3,766,436

10,816,184

3,470,845

3,411,948

3,101,795

7,454,865

3,171,841

3,199,098

3,186,998

4,545,942

3,331,930

3,339,581

3,329,873

3,866,264

3,458,769

3,513,074

3,841,000

3,561,000

3,180,025

1,938,978

1,558,384

1,048,496

815,000

108,628

86,191

545,254

352,929

7,880

Goodwill

0
0
0
45,646
6,687
6,687
46,000
45,646
45,646
45,646
45,646
45,646
46,000
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0

46,000

45,646

46,000

6,687

45,646

Long Term Investments

0
0
0
0
34,013
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
123,687
0
0
0
103,118
0
0
0
7,200
0
0
130,513
7,200
9,080
8,886
23,521
22,322
3,568
7,944
1,309
78
21,779
276,116
247,757
278,021
159,710
163,442
173,382
194,258
218,439
217,678
355,295
633,866
650,772
727,655
862,218
1,711,072
2,540,679
2,626,808
2,352,860

2,352,860

2,626,808

2,540,679

1,711,072

862,218

727,655

650,772

633,866

355,295

217,678

218,439

194,258

173,382

163,442

159,710

278,021

247,757

276,116

21,779

1,309

7,944

3,568

22,322

23,521

8,886

9,080

7,200

130,513

7,200

103,118

123,687

34,013

Intangible Assets

0
165,510
0
187,608
33,528
40,185
228,000
226,892
263,899
262,810
262,810
260,742
371,000
372,000
372,000
370,966
373,831
372,123
372,123
368,925
368,463
365,549
377,854
373,152
372,197
381,896
383,852
383,636
416,202
371,117
370,387
373,811
384,499
471,237
470,287
472,445
500,037
469,012
495,012
606,904
603,070
610,306
610,307
640,398
635,839
634,317
634,318
759,347
754,224
796,800
796,799
813,477
877,365
1,145,541
1,145,541
1,266,684
1,817,121
1,511,024
1,511,024
1,638,157
1,800,131

1,800,131

1,638,157

1,511,024

1,817,121

1,266,684

1,145,541

877,365

813,477

796,799

796,800

754,224

759,347

634,318

634,317

635,839

640,398

610,307

610,306

603,070

606,904

495,012

469,012

500,037

472,445

470,287

471,237

384,499

373,811

370,387

371,117

416,202

383,636

383,852

381,896

372,197

373,152

377,854

365,549

368,463

368,925

372,123

373,831

370,966

372,000

371,000

260,742

262,810

263,899

226,892

228,000

40,185

33,528

187,608

165,510

Long-term Assets Other

0
230,601
0
265,513
0
0
301,000
332,995
98,989
203,533
203,533
429,136
395,000
355,000
355,000
201,969
203,000
97,010
97,010
21,001
20,809
232,315
232,315
432,780
736,793
638,313
638,313
917,393
1,093,547
1,120,026
1,120,026
1,517,572
2,072,432
988,370
871,583
530,983
776,966
1,107,924
1,107,924
1,816,882
2,173,317
1,978,494
1,978,494
3,419,980
3,774,654
2,388,781
2,388,781
2,721,939
2,359,235
4,057,646
4,057,646
3,911,097
3,699,873
4,296,099
4,296,099
-371,767
-371,767
3,113,087
-704,244
-703,856
-703,856

-703,856

-704,244

3,113,087

-371,767

4,296,099

3,699,873

3,911,097

4,057,646

2,359,235

2,721,939

2,388,781

3,774,654

3,419,980

1,978,494

2,173,317

1,816,882

1,107,924

776,966

530,983

871,583

988,370

2,072,432

1,517,572

1,120,026

1,093,547

917,393

638,313

736,793

432,780

232,315

20,809

21,001

97,010

203,000

201,969

355,000

395,000

429,136

203,533

98,989

332,995

301,000

265,513

230,601

> Total Liabilities

0
887,671
0
1,682,909
175,328
190,423
1,571,000
1,825,903
3,024,402
3,215,144
3,215,144
6,795,368
6,506,000
6,281,000
6,281,000
7,081,127
6,856,030
6,998,510
6,998,509
8,592,669
8,567,298
8,590,612
8,590,611
10,452,182
11,303,517
15,554,817
14,115,499
16,655,935
20,026,556
22,792,750
21,184,825
24,076,021
27,010,897
19,630,427
20,465,814
21,448,933
23,021,115
21,947,141
21,947,142
25,094,001
27,082,428
27,399,205
27,399,204
34,014,436
33,815,686
35,403,690
35,403,691
35,618,482
37,703,524
40,241,608
40,241,613
43,504,991
49,915,620
58,696,227
58,696,235
78,534,659
85,206,911
81,634,223
81,658,289
93,624,858
94,258,027

94,258,027

93,624,858

81,658,289

81,634,223

85,206,911

78,534,659

58,696,235

58,696,227

49,915,620

43,504,991

40,241,613

40,241,608

37,703,524

35,618,482

35,403,691

35,403,690

33,815,686

34,014,436

27,399,204

27,399,205

27,082,428

25,094,001

21,947,142

21,947,141

23,021,115

21,448,933

20,465,814

19,630,427

27,010,897

24,076,021

21,184,825

22,792,750

20,026,556

16,655,935

14,115,499

15,554,817

11,303,517

10,452,182

8,590,611

8,590,612

8,567,298

8,592,669

6,998,509

6,998,510

6,856,030

7,081,127

6,281,000

6,506,000

6,795,368

3,215,144

3,024,402

1,825,903

1,571,000

190,423

175,328

1,682,909

887,671

> Total Current Liabilities

42,624
481,331
0
1,082,749
138,279
138,704
1,238,000
1,472,601
2,739,573
2,941,913
2,941,913
5,584,043
5,715,000
5,643,000
5,643,000
6,293,861
6,053,283
6,238,444
6,238,443
7,275,736
7,242,408
7,237,115
7,237,114
6,851,668
7,633,746
10,523,365
10,523,365
13,329,608
15,351,208
15,234,905
18,622,442
18,068,914
18,255,517
18,362,657
19,215,899
20,077,141
20,919,983
19,962,417
19,962,417
22,748,359
24,232,438
24,141,188
24,141,186
29,809,959
30,032,924
31,277,228
31,277,229
31,084,137
31,079,541
31,216,791
31,216,796
31,853,598
36,890,430
45,459,462
45,459,469
62,927,649
66,724,156
64,121,638
64,936,186
72,777,703
73,325,829

73,325,829

72,777,703

64,936,186

64,121,638

66,724,156

62,927,649

45,459,469

45,459,462

36,890,430

31,853,598

31,216,796

31,216,791

31,079,541

31,084,137

31,277,229

31,277,228

30,032,924

29,809,959

24,141,186

24,141,188

24,232,438

22,748,359

19,962,417

20,919,983

20,077,141

19,215,899

18,362,657

18,255,517

18,068,914

18,622,442

15,234,905

15,351,208

13,329,608

10,523,365

7,633,746

6,851,668

7,237,114

7,237,115

7,242,408

7,275,736

6,238,443

6,238,444

6,053,283

6,293,861

5,643,000

5,715,000

5,584,043

2,941,913

2,739,573

1,472,601

1,238,000

138,704

138,279

1,082,749

481,331

42,624

Short-term Debt

0
150,000
0
778,767
105,433
0
725,000
155,048
1,772,937
1,743,298
1,743,298
3,526,542
4,140,000
3,757,000
3,757,000
3,996,557
3,358,000
3,708,458
3,708,458
4,648,849
4,298,858
4,223,800
4,223,800
3,477,038
3,805,509
5,126,036
5,126,036
7,451,519
8,299,608
7,321,554
7,321,554
10,022,045
9,660,656
10,709,135
10,225,935
10,833,765
13,000,133
11,887,194
11,887,194
12,651,510
12,796,557
13,185,363
13,185,363
17,687,098
16,241,148
16,833,476
16,833,476
19,818,485
19,677,655
19,725,593
19,725,593
19,287,557
21,799,432
25,669,044
33,468,999
39,038,772
41,019,717
32,460,344
32,460,344
38,543,148
35,918,300

35,918,300

38,543,148

32,460,344

41,019,717

39,038,772

33,468,999

25,669,044

21,799,432

19,287,557

19,725,593

19,677,655

19,818,485

16,833,476

16,241,148

17,687,098

13,185,363

12,796,557

12,651,510

11,887,194

13,000,133

10,833,765

10,225,935

10,709,135

9,660,656

10,022,045

7,321,554

8,299,608

7,451,519

5,126,036

3,805,509

3,477,038

4,223,800

4,298,858

4,648,849

3,708,458

3,358,000

3,996,557

3,757,000

4,140,000

3,526,542

1,743,298

1,772,937

155,048

725,000

105,433

778,767

150,000

Short Long Term Debt

0
0
0
0
105,433
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
5,319,074
0
0
0
40,500
0
0
0
1,545,124
0
0
17,872,461
684,620
10,716,748
11,554,868
173,611
192,981
857
0
1
613
15,623,884
17,385,042
15,957,173
16,565,820
17,190,061
19,558,525
19,430,350
19,405,019
20,032,538
19,034,830
21,541,670
25,411,590
33,203,534
38,770,017
40,747,983
32,226,474
32,412,080
38,378,029
35,767,846

35,767,846

38,378,029

32,412,080

32,226,474

40,747,983

38,770,017

33,203,534

25,411,590

21,541,670

19,034,830

20,032,538

19,405,019

19,430,350

19,558,525

17,190,061

16,565,820

15,957,173

17,385,042

15,623,884

613

857

192,981

173,611

11,554,868

10,716,748

684,620

17,872,461

1,545,124

40,500

5,319,074

105,433

Accounts payable

1,196
23,985
0
74,722
12,709
14,639
224,000
222,538
307,748
355,012
355,012
493,179
522,000
1,147,000
1,147,000
1,063,794
1,432,548
1,377,372
1,377,372
1,407,475
1,473,397
1,767,736
1,767,737
1,847,184
2,359,475
3,149,211
3,149,210
3,554,939
4,042,039
3,784,784
3,784,783
4,072,598
4,146,797
4,290,071
5,737,776
5,987,055
4,595,774
4,663,531
4,663,531
5,045,820
5,495,075
5,327,792
5,327,792
5,519,258
4,798,360
4,988,940
4,988,940
4,640,394
4,888,438
4,450,609
4,450,609
4,105,739
5,004,514
6,815,717
6,815,717
7,583,579
7,546,330
10,378,076
10,378,076
11,697,118
14,158,209

14,158,209

11,697,118

10,378,076

7,546,330

7,583,579

6,815,717

5,004,514

4,105,739

4,450,609

4,888,438

4,640,394

4,988,940

4,798,360

5,519,258

5,327,792

5,495,075

5,045,820

4,663,531

4,595,774

5,987,055

5,737,776

4,290,071

4,146,797

4,072,598

3,784,783

3,784,784

4,042,039

3,554,939

3,149,210

3,149,211

2,359,475

1,847,184

1,767,737

1,767,736

1,473,397

1,407,475

1,377,372

1,432,548

1,063,794

1,147,000

522,000

493,179

355,012

307,748

222,538

224,000

14,639

12,709

74,722

23,985

1,196

Other Current Liabilities

36,818
30,017
0
21,995
0
27,166
289,000
845,372
27,746
10,000
10,000
1,486,393
1,053,000
-84,784,982
-84,784,982
1,182,296
1,262,000
1,031,583
1,031,583
1,090,922
1,184,950
1,097,996
1,097,996
1,343,138
1,232,980
1,825,029
1,825,029
1,846,060
1,932,651
2,828,762
2,828,762
3,212,664
3,653,690
3,302,909
3,189,288
3,180,920
3,271,738
3,374,292
3,374,292
5,070,417
5,919,583
5,627,123
5,627,123
89,096
8,999,519
9,454,063
9,454,063
2,380,763
2,349,284
2,451,495
2,451,495
3,670,770
4,523,737
12,774,701
12,774,701
16,305,298
17,958,109
21,283,218
21,283,218
1,634,788
1,519,138

1,519,138

1,634,788

21,283,218

17,958,109

16,305,298

12,774,701

4,523,737

3,670,770

2,451,495

2,349,284

2,380,763

9,454,063

8,999,519

89,096

5,627,123

5,919,583

5,070,417

3,374,292

3,271,738

3,180,920

3,189,288

3,302,909

3,653,690

3,212,664

2,828,762

1,932,651

1,846,060

1,825,029

1,232,980

1,343,138

1,097,996

1,184,950

1,090,922

1,031,583

1,262,000

1,182,296

-84,784,982

1,053,000

1,486,393

10,000

27,746

845,372

289,000

27,166

21,995

30,017

36,818

> Long-term Liabilities

0
406,340
0
600,161
0
0
333,000
353,302
284,829
273,231
273,231
1,211,325
791,000
638,000
638,000
787,266
688,151
760,066
650,582
1,183,000
1,183,000
1,353,497
1,162,000
3,361,418
3,419,902
5,031,452
3,293,165
2,998,619
4,275,979
7,557,845
896,020
5,519,232
8,211,805
488,520
445,803
467,585
760,191
1,984,724
678,279
1,154,578
1,732,698
3,258,017
2,254,306
3,105,919
2,580,341
4,126,462
2,314,403
2,831,051
4,906,232
9,024,817
7,301,536
9,556,422
10,782,427
13,236,765
10,995,191
13,316,647
16,121,968
17,512,585
14,093,494
17,823,137
17,580,521

17,580,521

17,823,137

14,093,494

17,512,585

16,121,968

13,316,647

10,995,191

13,236,765

10,782,427

9,556,422

7,301,536

9,024,817

4,906,232

2,831,051

2,314,403

4,126,462

2,580,341

3,105,919

2,254,306

3,258,017

1,732,698

1,154,578

678,279

1,984,724

760,191

467,585

445,803

488,520

8,211,805

5,519,232

896,020

7,557,845

4,275,979

2,998,619

3,293,165

5,031,452

3,419,902

3,361,418

1,162,000

1,353,497

1,183,000

650,582

760,066

688,151

787,266

638,000

791,000

1,211,325

273,231

284,829

353,302

333,000

600,161

406,340

Long term Debt Total

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
312,125
1,158
2,493,029
3,318,525
2,874,535
2,897,893
2,556,175
3,302,189
5,348,181
7,614,721
7,751,093
10,132,169
11,504,823
11,800,059
13,031,981
14,044,966
16,804,617
15,581,653
0
0
0

15,581,653

16,804,617

14,044,966

13,031,981

11,800,059

11,504,823

10,132,169

7,751,093

7,614,721

5,348,181

3,302,189

2,556,175

2,897,893

2,874,535

3,318,525

2,493,029

1,158

312,125

Long-term Liabilities Other

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
20,463
20,390
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0

20,390

20,463

Deferred Long Term Liability

0
0
0
0
407
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
47,390
0
0
0
59,875
0
0
0
22,864
0
22,864
22,864
10,768
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0

10,768

22,864

59,875

47,390

407

> Total Stockholder Equity

0
390,350
0
389,761
58,908
138,127
1,016,000
1,582,348
1,845,745
2,665,202
2,665,202
3,243,666
3,283,000
2,895,000
2,895,000
2,233,602
674,944
1,365,121
1,365,122
1,299,197
1,827,107
2,009,742
2,009,743
2,937,581
3,232,852
3,507,097
3,507,097
3,708,607
3,950,920
4,321,869
4,321,868
4,939,132
5,213,968
6,460,709
6,537,903
6,623,714
6,624,424
6,689,274
6,689,273
7,488,866
7,726,557
7,839,891
7,839,891
8,546,652
8,948,750
9,303,319
9,303,318
9,947,854
9,871,335
9,987,848
9,987,844
10,700,696
10,928,077
11,049,786
11,049,781
14,620,532
15,527,212
16,382,057
16,337,235
19,350,822
20,029,751

20,029,751

19,350,822

16,337,235

16,382,057

15,527,212

14,620,532

11,049,781

11,049,786

10,928,077

10,700,696

9,987,844

9,987,848

9,871,335

9,947,854

9,303,318

9,303,319

8,948,750

8,546,652

7,839,891

7,726,557

7,488,866

6,689,273

6,689,274

6,624,424

6,623,714

6,537,903

6,460,709

5,213,968

4,939,132

4,321,868

4,321,869

3,950,920

3,708,607

3,507,097

3,232,852

2,937,581

2,009,743

2,009,742

1,827,107

1,299,197

1,365,122

1,365,121

674,944

2,233,602

2,895,000

3,283,000

3,243,666

2,665,202

1,845,745

1,582,348

1,016,000

138,127

58,908

389,761

390,350

Common Stock

1
8
0
8
1
1
1
13
13
14
14
14
2
2
13
13
13
13
13
13
16
16
16
17
18
18
18
18
18
18
18
18
18
18
18
18
18
19
19
22
22
22
22
24
25
25
25
25
25
26
26
26
26
26
26
28
28
28
28
29
29

Retained Earnings Total Equity

Accumulated Other Comprehensive Income

0
-10,853
0
-28,381
0
0
0
-220
0
0
-205
-119
-2,000
-417,000
-417,000
338
0
179,277
179,277
186,244
184,534
197,798
197,798
193,044
195,134
263,779
263,779
266,516
272,880
364,346
364,346
378,692
375,283
571,037
553,474
531,083
505,857
540,182
540,182
554,797
583,517
640,477
640,477
676,797
681,678
752,659
752,659
814,662
677,217
563,394
563,394
633,467
661,236
545,869
545,869
730,387
874,201
217,734
217,734
408,566
390,766

390,766

408,566

217,734

874,201

730,387

545,869

661,236

633,467

563,394

677,217

814,662

752,659

681,678

676,797

640,477

583,517

554,797

540,182

505,857

531,083

553,474

571,037

375,283

378,692

364,346

272,880

266,516

263,779

195,134

193,044

197,798

184,534

186,244

179,277

338

-417,000

-2,000

-119

-205

-220

-28,381

-10,853

Capital Surplus

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
584,648
1,792
4,014,847
4,515,582
4,549,236
4,582,850
4,583,099
4,587,584
4,641,661
5,251,245
5,605,911
5,606,692
5,612,082
5,617,923
9,282,472
9,598,481
9,811,531
9,912,931
0
0
0

9,912,931

9,811,531

9,598,481

9,282,472

5,617,923

5,612,082

5,606,692

5,605,911

5,251,245

4,641,661

4,587,584

4,583,099

4,582,850

4,549,236

4,515,582

4,014,847

1,792

584,648

Treasury Stock

-43,170

-13,876

-2,017

-2,133

-2,086

-2,047

-2,016

-1,999

-2,081

-2,088

-2,152

-2,142

-2,183

-2,238

-2,236

-2,261

-2,237

-2,232

-2,292

-2,267

-2,261

-2,234

-2,227

-2,208

-2,184

-2,203

-1,327

Other Stockholders Equity

0
158,142
0
230,673
3,783
0
691,000
1,125,708
1,129,376
1,542,089
1,542,089
1,548,819
1,522,000
1,916,000
1,916,000
1,682,551
-674,944
1,510,853
1,331,813
1,338,703
1,764,812
1,954,827
1,769,898
2,554,743
2,567,358
2,780,149
2,528,244
2,587,699
2,628,567
2,910,461
2,558,697
2,564,553
2,598,877
2,665,134
2,699,316
2,760,151
2,774,795
3,299,733
2,782,847
3,465,242
3,485,125
3,996,864
3,426,688
3,931,530
3,965,184
4,568,974
3,879,268
3,854,707
3,908,784
5,208,075
4,516,065
4,871,513
4,876,903
5,574,753
4,874,509
8,855,067
9,068,117
9,869,761
9,869,590
10,597,591
10,526,357

10,526,357

10,597,591

9,869,590

9,869,761

9,068,117

8,855,067

4,874,509

5,574,753

4,876,903

4,871,513

4,516,065

5,208,075

3,908,784

3,854,707

3,879,268

4,568,974

3,965,184

3,931,530

3,426,688

3,996,864

3,485,125

3,465,242

2,782,847

3,299,733

2,774,795

2,760,151

2,699,316

2,665,134

2,598,877

2,564,553

2,558,697

2,910,461

2,628,567

2,587,699

2,528,244

2,780,149

2,567,358

2,554,743

1,769,898

1,954,827

1,764,812

1,338,703

1,331,813

1,510,853

-674,944

1,682,551

1,916,000

1,522,000

1,548,819

1,542,089

1,129,376

1,125,708

691,000

3,783

230,673

158,142

Balance Sheet

Currency in CNY. All numbers in thousands.

	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31
Accounts Payable	10,378,076	6,815,717	4,450,609	4,988,940	5,327,792	4,663,531	4,290,071	3,784,783	3,149,210	1,767,737	1,377,372	376,887	355,011	99,933	23,985	8,721
Accumulated Amortization	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Accumulated Depreciation	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Accumulated Other Comprehensive Income	217,734	545,869	563,394	752,659	640,477	540,182	571,037	364,346	263,779	197,798	179,277	-135	-156,000	-54,694	-10,853	-1,577
Additional Paid In Capital	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Capital Lease Obligations	643,636	879,247	910,901	1,130,681	338,412	0	0	0	0	0	0	0	0	0	0	0
Capital Stock	28	26	26	25	22	0	0	0	0	0	0	0	0	0	0	0
Capital Surpluse	9,912,931	5,617,923	5,251,245	4,582,850	4,010,740	3,313,608	3,145,262	2,924,336	450,206	0	0	0	0	0	0	0
Cash	10,243,500	8,321,415	7,481,678	5,653,854	3,104,917	1,928,303	2,501,417	2,392,591	1,777,021	456,076	279,130	433,851	521,205	152,480	27,324	27,242
Cash And Equivalents	10,372,700	8,321,415	7,481,678	5,653,854	3,104,917	1,928,303	2,501,417	0	0	0	0	0	0	0	0	0
Cash And Short Term Investments	10,347,999	8,471,415	8,051,678	5,653,854	3,104,917	1,930,987	2,572,719	2,422,018	1,909,896	456,076	279,130	928,066	555,910	202,942	27,324	27,242
Common Stock	28	26	26	25	22	19	18	18	18	16	13	13	14	10	8	8
Common Stock Shares Outstanding	50,102	51,430	44,735	42,341	38,676	32,922	32,648	31,951	38,447	24,009	22,188	25,672	20,187	12,683	13,925	12,683
Common Stock Total Equity	0	0	26	25	22	19	18	18	18	0	0	0	0	10	8	8
Current Deferred Revenue	814,548	200,000	4,589,099	749	910	37,400	60,541	1,299,805	423,089	147,583	121,031	85,524	164,956,890	0	277,328	0
Deferred Long Term Asset Charges	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Deferred Long Term Liab	0	0	0	0	0	0	22,864	219	7,636	0	0	0	0	0	0	0
Earning Assets	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Good Will	0	0	0	0	0	0	0	0	0	0	0	0	45,646	45,646	0	0
Intangible Assets	1,511,024	1,145,541	796,799	634,318	610,307	495,012	471,237	370,387	383,852	377,854	372,123	371,699	262,810	228,657	165,510	6,962
Inventory	20,778,428	14,788,507	9,379,549	8,341,162	6,408,549	4,670,806	4,799,281	3,203,325	1,891,148	712,029	527,962	798,075	819,515	245,192	272,030	172,135
Liabilities And Stockholders Equity	108,696,198	72,983,484	53,232,374	47,844,718	35,853,183	28,636,405	26,090,640	27,144,548	19,087,636	10,611,225	8,372,320	9,176,398	5,874,406	2,242,649	1,278,020	559,280
Long Term Debt	15,511,772	11,563,686	7,301,536	2,314,403	2,592,718	1,216,689	532,535	2,164,744	85,620	191,949	104,426	86,318	40,795	51,092	544	0
Long Term Debt Total	15,581,653	11,800,059	7,614,721	2,897,893	2,592,718	1,216,689	532,535	2,164,744	541,414	0	0	0	0	0	0	0
Long Term Investments	1,711,072	633,866	194,258	278,021	25,531	22,322	7,200	26	16,616	123,687	0	0	0	0	0	0
Negative Goodwill	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Debt	37,536,623	28,964,613	20,135,778	14,357,050	12,334,752	10,637,170	8,696,238	10,412,931	6,645,914	4,929,724	4,079,910	3,304,813	1,491,343	853,998	122,676	6,383
Net Invested Capital	63,518,544	47,456,567	36,694,403	28,183,541	23,279,560	19,254,746	0	0	0	0	0	0	0	0	0	0
Net Receivables	23,794,509	9,189,622	6,029,679	7,335,283	7,122,607	7,181,908	7,693,314	3,266,935	3,365,718	2,230,564	1,818,217	1,714,143	577,295	343,523	187,740	168,762
Net Tangible Assets	14,871,033	9,904,245	9,191,045	8,669,001	7,229,585	6,194,262	5,989,472	14,431	503,254	1,631,889	0	0	0	0	0	0
Net Working Capital	4,289,672	39,993	2,465,339	411,018	-1,286,927	-354,560	1,332,640	3,872,362	-119,778	-1,894,392	-2,252,834	-1,034,113	252,561	23,923	47,650	87,548
Non Current Assets Total	36,467,557	22,816,164	14,592,135	12,698,160	8,911,737	7,197,521	5,217,119	4,144,022	3,588,765	3,688,538	3,737,179	4,567,925	2,685,872	1,271,999	749,040	160,810
Non Current Liabilities Other	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Non Current Liabilities Total	14,093,494	10,995,191	7,301,536	2,314,403	2,254,306	678,279	488,520	896,020	3,293,165	1,162,000	650,582	628,639	273,231	353,029	406,340	61,664
Non Currrent Assets Other	-704,244	-371,767	-255,107	-271,286	1,978,494	1,107,924	988,370	1,120,026	638,313	232,315	97,010	355,427	203,533	256,215	230,601	96,368
Noncontrolling Interest In Consolidated Entity	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Other Assets	3,867,331	4,643,249	4,958,109	3,458,310	4,087,185	0	1,178,225	0	14,396	38,374	18,160	56,472	66,430	37,536	33,800	0
Other Current Assets	13,406,358	13,074,530	10,221,225	10,357,947	6,218,187	5,824,154	4,629,983	13,602,526	3,236,824	1,944,053	1,360,300	1,473	96,872	178,993	41,886	30,331
Other Current Liab	21,283,218	12,774,708	2,451,495	9,454,065	18,813,394	3,374,292	3,302,909	2,828,762	1,825,029	1,097,996	1,031,583	1,984,788	-164,119,226	189,067	30,017	268,576
Other Liab	2,192,806	1,619,781	1,132,955	949,034	665,300	768,035	735,235	1,452	7,697	31,633	17,573	13,562	228	220	0	0
Other Stockholder Equity	9,869,590	4,874,509	4,516,065	3,879,268	3,426,688	2,782,847	2,665,134	2,558,697	2,528,244	1,769,898	1,331,813	1,498,870	1,706,676	763,819	158,142	102,648
Preferred Stock Redeemable	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Preferred Stock Total Equity	0	0	0	0	0	0	0	0	0	0	0	0	0	69,846	59,015	0
Property Plant And Equipment Gross	33,245,461	21,036,756	14,246,433	12,584,065	10,046,521	7,153,918	4,793,745	3,766,436	7,454,866	4,546,000	3,866,000	3,841,000	1,939,000	741,481	352,929	57,479
Property Plant And Equipment Net	33,245,461	21,036,757	13,601,078	11,785,821	8,275,900	6,680,187	4,738,681	3,766,436	3,101,795	3,186,998	3,329,873	3,840,799	1,938,978	741,481	352,929	57,479
Property Plant Equipment	33,245,461	21,036,756	13,601,078	11,785,821	8,275,900	6,680,187	4,738,681	3,766,436	193,601	750,937	620,578	610,241	293,785	108,628	51,730	0
Retained Earnings	6,249,883	5,629,377	4,908,359	4,671,367	3,772,705	3,366,226	3,224,520	1,398,808	715,056	42,031	-145,981	1,396,441	958,512	233,759	243,053	74,676
Retained Earnings Total Equity	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Short Long Term Debt	32,226,474	25,411,590	19,405,019	16,565,820	13,185,363	11,887,194	10,709,135	5,643	6,526	5,319,074	0	0	0	0	0	0
Short Long Term Debt Total	47,780,123	37,286,028	27,617,456	20,010,904	15,439,669	12,565,473	11,197,655	12,805,522	8,422,935	5,385,800	4,359,040	3,738,664	2,012,548	1,006,477	150,000	33,625
Short Term Debt	32,460,344	25,669,044	19,725,593	16,833,476	13,185,363	11,887,194	10,709,135	7,321,554	5,126,036	4,223,800	3,708,458	3,195,387	1,743,298	657,727	150,000	33,625
Short Term Investments	104,499	150,000	570,000	1,170,818	0	2,685	71,301	29,427	132,876	734,093	722,461	494,215	34,705	50,462	1,416	0
Temporary Equity Redeemable Noncontrolling Interests	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Total Assets	108,662,182	72,983,487	53,232,375	47,844,717	35,853,182	28,636,405	26,090,640	27,144,549	19,083,903	10,611,225	8,372,320	9,176,398	5,874,406	2,242,649	1,278,020	559,280
Total Current Assets	68,327,294	45,524,074	33,682,131	31,688,247	22,854,260	19,607,856	19,695,296	22,494,804	10,403,586	5,342,723	3,985,609	4,608,473	3,188,534	970,650	528,980	398,470
Total Current Liabilities	64,936,186	45,459,469	31,216,796	31,277,229	24,141,186	19,962,417	18,362,657	18,622,442	10,523,365	7,237,114	6,238,443	5,642,586	2,935,973	946,727	481,331	310,922
Total Liab	81,658,289	58,696,235	40,241,613	35,403,691	27,399,204	21,947,142	19,630,427	21,184,825	14,115,499	8,590,611	6,998,509	6,271,225	3,209,204	1,299,757	887,671	372,586
Total Permanent Equity	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Total Stockholder Equity	16,337,235	11,049,781	9,987,844	9,303,318	7,839,891	6,689,273	6,460,709	4,321,868	3,507,097	2,009,743	1,365,122	2,895,190	2,665,202	942,892	390,350	175,754
Treasury Stock	0	-43,170	-43,170	-13,876	-13,876	-13,876	-13,876	-13,876	-360	-2,292	-2,227	-1,327	0	0	0	0
Warrants	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0

	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-09-30	2015-06-30	2015-03-31	2014-12-31	2014-09-30	2014-06-30	2014-03-31	2013-12-31	2013-09-30	2013-06-30	2013-03-31	2012-12-31	2012-09-30	2012-06-30	2012-03-31	2011-12-31	2011-09-30	2011-06-30	2011-03-31	2010-12-31	2010-09-30	2010-06-30	2010-03-31	2009-12-31	2009-09-30	2009-06-30	2009-03-31	2008-12-31	2007-12-31
Accounts Payable	14,158,209	11,697,118	10,378,076	10,378,076	7,546,330	7,583,579	6,815,717	6,815,717	5,004,514	4,105,739	4,450,609	4,450,609	4,888,438	4,640,394	4,988,940	4,988,940	4,798,360	5,519,258	5,327,792	5,327,792	5,495,075	5,045,820	4,663,531	4,663,531	4,595,774	5,987,055	5,737,776	4,290,071	4,146,797	4,072,598	3,784,783	3,784,784	4,042,039	3,554,939	3,149,210	3,149,211	2,359,475	1,847,184	1,767,737	1,767,736	1,473,397	1,407,475	1,377,372	1,377,372	1,432,548	1,063,794	1,147,000	1,147,000	522,000	493,179	355,012	355,012	307,748	222,538	224,000	14,639	12,709	74,722	-	23,985	1,196
Accumulated Amortization	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0	0	0	0	0	0	0	0	0	0	0	0	-	0	0
Accumulated Depreciation	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0	0	0	0	0	0	0	0	0	0	0	0	-	0	0
Accumulated Other Comprehensive Income	390,766	408,566	217,734	217,734	874,201	730,387	545,869	545,869	661,236	633,467	563,394	563,394	677,217	814,662	752,659	752,659	681,678	676,797	640,477	640,477	583,517	554,797	540,182	540,182	505,857	531,083	553,474	571,037	375,283	378,692	364,346	364,346	272,880	266,516	263,779	263,779	195,134	193,044	197,798	197,798	184,534	186,244	179,277	179,277	0	338	-417,000	-417,000	-2,000	-119	-205	0	0	-220	0	0	0	-28,381	-	-10,853	0
Additional Paid In Capital	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0	0	0	0	0	0	0	0	0	0	0	0	-	0	0
Capital Lease Obligations	466,642	541,765	634,945	643,636	698,209	758,688	834,340	879,247	950,118	901,615	818,972	910,901	913,652	967,664	1,030,657	1,130,681	808,071	747,142	817,016	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0	0	0	0	0	0	0	0	0	0	0	0	-	0	0
Capital Stock	29	29	28	28	28	28	27	26	26	26	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0	0	0	0	0	0	0	0	0	0	0	0	-	0	0
Capital Surpluse	0	0	0	9,912,931	9,811,531	9,598,481	9,282,472	5,617,923	5,612,082	5,606,692	5,605,911	5,251,245	4,641,661	4,587,584	4,583,099	4,582,850	4,549,236	4,515,582	4,014,847	1,792	584,648	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0	0	0	0	0	0	0	0	0	0	0	0	-	0	0
Cash	13,563,594	14,701,590	10,243,500	10,372,700	14,305,664	13,284,511	8,321,415	8,321,415	6,622,930	5,704,725	7,481,678	7,481,678	5,774,669	6,256,894	5,653,854	5,653,854	3,705,424	3,727,162	3,104,917	3,104,917	2,689,359	2,299,826	1,928,303	1,928,303	2,117,949	1,531,000	1,468,630	2,501,417	3,355,114	3,403,496	2,392,591	3,683,664	3,167,840	1,752,478	1,777,021	1,777,021	1,778,890	991,778	456,076	456,076	950,002	453,255	279,130	279,130	228,449	466,186	434,000	434,000	560,000	575,776	521,205	521,205	451,794	369,016	160,000	22,338	24,865	214,109	-	27,324	0
Cash And Equivalents	0	0	0	10,372,700	14,305,664	13,284,511	15,397,981	8,321,415	6,622,930	5,704,725	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0	0	0	0	0	0	0	0	0	0	0	0	-	0	0
Cash And Short Term Investments	13,615,516	14,782,579	10,347,999	10,477,199	14,409,442	13,385,264	8,471,415	8,471,415	7,042,930	6,577,732	8,051,678	8,051,678	5,774,669	6,256,894	5,653,854	6,824,672	3,705,424	3,727,162	3,104,917	3,104,917	3,290,995	2,304,468	1,930,987	1,930,988	2,185,838	1,624,282	1,643,187	2,572,719	3,361,640	3,416,361	2,422,018	3,713,091	3,190,873	1,774,826	1,909,896	1,909,897	1,782,890	1,051,778	456,076	456,076	1,796,305	1,474,750	279,130	1,001,591	846,536	1,094,137	434,000	434,000	560,000	870,671	555,911	555,911	500,570	395,058	160,000	0	0	214,109	-	27,324	0
Common Stock	29	29	28	28	28	28	26	26	26	26	26	26	25	25	25	25	25	24	22	22	22	22	19	19	18	18	18	18	18	18	18	18	18	18	18	18	18	17	16	16	16	13	13	13	13	13	13	2	2	14	14	14	13	13	1	1	1	8	-	8	1
Common Stock Shares Outstanding	55,796	55,914	54,810	54,810	54,760	49,474	51,460	51,460	51,299	47,798	45,321	45,321	44,498	44,430	44,964	44,381	52,353	41,651	39,215	39,215	39,176	39,404	33,643	33,643	33,603	32,373	32,045	32,653	32,653	33,136	32,014	32,014	38,903	32,090	38,767	38,767	38,861	35,532	28,030	28,030	23,524	22,325	22,186	22,186	22,181	22,185	22,590	22,590	27,695	26,151	94,400	94,400	22,180	17,535	12,683	13,000	13,000	12,683	13,000	13,000	13,000
Common Stock Total Equity	0	0	0	0	0	0	0	0	0	26	26	26	25	25	25	25	25	24	22	22	22	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	17	17	0	0	0	0	0	0	-	0	0	0	0	0	0	0	0	0	0	0	8	-	8	0
Current Deferred Revenue	21,730,182	20,902,649	814,548	0	200,000	0	200,000	200,000	5,578,563	4,803,942	4,589,094	4,589,094	4,197,356	4,264,968	749	749	915	6,514,507	910	910	35,158	35,158	37,400	37,400	54,593	76,089	62,900	60,541	794,780	761,924	1,299,805	1,299,805	1,077,505	478,569	423,089	423,089	241,018	184,308	147,583	147,583	313,815	157,101	121,031	121,031	0	51,214	85,523,982	85,523,982	0	77,929	833,603	833,603	631,142	249,643	0	0	0	207,265	-	277,328	0
Deferred Long Term Asset Charges	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0	0	0	0	0	0	0	0	0	0	0	0	-	0	0
Deferred Long Term Liab	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	10,768	22,864	22,864	0	22,864	0	0	0	59,875	0	0	0	47,390	0	0	0	0	0	0	0	0	0	-	0	0	0	0	0	0	0	0	0	0	407	0	-	0	0
Earning Assets	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0	0	0	0	0	0	0	0	0	0	0	0	-	0	0
Good Will	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0	0	46,000	45,646	45,646	45,646	45,646	45,646	46,000	6,687	6,687	45,646	-	0	0
Intangible Assets	1,800,131	1,638,157	1,511,024	1,511,024	1,817,121	1,266,684	1,145,541	1,145,541	877,365	813,477	796,799	796,800	754,224	759,347	634,318	634,317	635,839	640,398	610,307	610,306	603,070	606,904	495,012	469,012	500,037	472,445	470,287	471,237	384,499	373,811	370,387	371,117	416,202	383,636	383,852	381,896	372,197	373,152	377,854	365,549	368,463	368,925	372,123	372,123	373,831	370,966	372,000	372,000	371,000	260,742	262,810	262,810	263,899	226,892	228,000	40,185	33,528	187,608	-	165,510	0
Inventory	23,135,433	23,819,780	20,778,428	17,085,895	27,614,906	21,768,810	14,788,507	13,252,352	15,803,722	11,806,904	9,379,549	8,376,936	9,748,212	9,020,273	8,341,162	5,818,789	6,072,596	6,633,699	6,408,549	5,743,328	5,560,133	5,890,591	4,670,806	4,273,730	5,242,139	5,204,392	5,370,024	4,799,281	3,258,802	3,097,311	3,203,325	3,203,325	3,962,956	2,949,752	1,891,148	1,891,148	1,493,740	1,000,378	712,029	712,029	629,624	529,571	527,962	527,962	852,585	926,959	798,000	798,000	1,110,000	1,057,408	819,515	819,515	542,041	470,778	398,000	35,921	50,938	315,258	-	272,030	23,598
Liabilities And Stockholders Equity	127,348,439	125,071,297	108,696,198	108,696,198	111,059,076	103,243,449	72,983,484	72,983,484	63,996,810	57,357,987	53,232,374	53,232,374	50,012,892	49,601,696	47,844,718	47,844,718	45,026,768	43,744,291	35,853,183	35,853,183	35,325,784	32,883,081	28,636,405	28,636,405	29,644,641	28,071,862	27,003,052	26,090,640	34,010,396	30,750,423	27,144,548	27,144,548	25,569,543	21,910,906	19,087,636	19,087,636	15,638,109	13,401,897	10,611,225	10,611,225	10,404,717	9,899,446	8,372,320	8,372,320	9,057,000	9,324,827	9,176,000	9,176,000	9,789,000	10,039,034	5,880,346	5,880,346	4,870,147	3,408,251	2,587,000	0	0	2,072,671	-	1,278,020	0
Long Term Debt	17,580,521	17,823,137	15,591,943	15,511,772	16,121,968	13,316,647	12,253,364	11,563,686	11,205,326	9,556,422	7,303,187	7,301,536	4,906,232	2,831,051	2,053,841	2,314,403	2,580,341	3,105,919	2,217,957	6,927	36,724	173,152	160,159	187,002	114,258	68,973	64,767	70,362	1,231,433	830,472	664,871	846,579	672,789	483,648	439,901	531,364	557,169	541,851	319,189	191,949	193,301	192,753	268,492	104,426	109,494	106,927	92,852	86,318	110,676	175,915	41,136	40,795	40,226	51,464	48,180	51,092	36,422	0	-	544	0
Long Term Debt Total	0	0	0	15,581,653	16,804,617	14,044,966	13,031,981	11,800,059	11,504,823	10,132,169	7,751,093	7,614,721	5,348,181	3,302,189	2,556,175	2,897,893	2,874,535	3,318,525	2,493,029	1,158	312,125	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0	0	0	0	0	0	0	0	0	0	0	0	-	0	0
Long Term Investments	2,352,860	2,626,808	2,540,679	1,711,072	862,218	727,655	650,772	633,866	355,295	217,678	218,439	194,258	173,382	163,442	159,710	278,021	247,757	276,116	21,779	78	1,309	7,944	3,568	22,322	23,521	8,886	9,080	7,200	130,513	0	0	7,200	0	0	0	103,118	0	0	0	123,687	0	0	0	0	0	-	0	0	0	0	0	0	0	0	0	0	34,013	0	-	0	0
Negative Goodwill	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0	0	0	0	0	0	0	0	0	0	0	0	-	0	0
Net Debt	40,251,415	42,041,341	37,536,623	37,407,423	43,262,496	39,560,841	28,964,613	28,964,613	26,651,285	23,788,142	20,135,778	20,135,778	19,475,565	17,100,346	14,357,050	14,357,050	15,640,161	17,510,941	12,334,752	12,334,752	11,839,896	11,506,262	10,637,170	10,637,170	11,642,375	9,770,350	9,203,108	8,696,238	14,517,347	12,137,781	10,412,931	9,121,858	9,407,747	8,697,660	6,645,914	6,645,914	5,446,521	5,846,678	4,929,724	4,929,724	4,531,856	5,378,594	4,079,910	4,079,910	3,817,551	4,209,672	3,866,000	3,866,000	4,286,000	4,087,791	1,491,344	1,491,344	1,590,268	135,032	894,000	0	0	722,157	-	122,676	0
Net Invested Capital	73,378,118	75,551,988	65,609,001	63,518,544	72,397,163	66,707,196	60,207,204	47,456,567	43,252,174	39,291,948	38,010,969	36,694,403	34,207,918	32,337,430	28,891,467	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0	0	0	0	0	0	0	0	0	0	0	0	-	0	0
Net Receivables	29,891,575	26,168,860	23,794,509	24,330,321	14,584,214	14,039,638	9,189,622	9,263,154	5,893,828	5,219,006	6,029,679	6,212,824	7,762,525	8,461,401	7,335,283	7,387,566	6,885,793	6,906,154	7,122,607	7,191,530	7,154,088	7,282,625	7,181,908	7,228,501	7,633,547	8,167,448	7,872,610	7,693,314	6,153,182	4,945,431	3,266,935	3,978,819	4,275,154	3,939,423	3,365,718	3,413,594	2,982,011	2,984,335	2,230,564	2,272,929	1,693,759	2,290,061	1,818,217	1,838,410	2,205,000	1,972,259	2,577,000	2,577,000	1,678,000	1,818,540	1,013,906	1,013,906	620,886	281,728	273,000	0	46,895	328,547	-	187,740	0
Net Tangible Assets	18,229,620	17,712,665	0	14,871,033	13,710,091	13,353,848	13,560,159	9,904,245	10,050,712	9,887,219	9,863,543	9,191,045	9,117,112	9,188,507	8,942,193	8,669,001	8,312,911	7,906,254	7,257,982	22,214	150,980	1,032,088	1,079,498	6,194,262	6,124,388	6,151,270	6,067,616	5,989,472	0	0	0	3,951,482	0	0	0	3,123,246	0	0	0	1,631,889	0	0	0	0	0	-	0	0	0	0	0	0	0	0	0	0	18,693	0	-	0	0
Net Working Capital	7,488,282	8,049,270	4,098,565	4,289,672	5,856,381	5,544,927	8,722,380	39,993	2,777,721	2,652,373	2,124,784	2,465,339	1,238,597	1,206,683	117,370	411,020	-1,503,328	-1,452,418	-1,286,927	-1,286,926	-1,493,011	-1,089,800	-354,560	-354,560	518,221	386,385	803,094	1,332,640	-725,368	-1,952,562	3,872,362	-640,315	-734,253	-1,769,670	-119,778	-116,045	1,015,454	257,436	-1,894,392	-1,894,394	-1,767,546	-2,070,920	-2,252,834	-2,252,836	-1,039,608	-	-1,035,000	-1,035,000	-301,000	312,124	252,561	252,561	-65,897	281,621	-43,000	0	-1,619	-54,099	-	47,650	0
Non Current Assets Total	40,892,847	39,098,013	36,467,557	40,284,888	33,860,596	29,247,130	22,816,164	27,484,029	19,864,351	18,174,732	14,592,135	19,550,244	13,850,000	13,511,177	12,698,160	16,156,470	10,818,940	9,730,900	8,911,737	12,998,921	8,335,647	7,792,384	7,197,521	9,028,548	6,551,726	6,366,425	5,757,525	5,217,119	4,788,997	4,473,119	4,144,022	12,549,958	4,002,143	3,903,659	3,588,765	8,680,316	3,667,847	3,709,506	3,688,538	5,268,504	3,821,576	3,808,364	3,737,179	4,386,712	3,839,800	4,140,809	4,568,000	4,568,000	4,375,000	4,142,867	2,685,872	2,685,872	2,196,471	1,654,029	1,393,000	0	0	1,044,021	-	749,040	0
Non Current Liabilities Other	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	20,390	20,463	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0	0	0	0	0	0	0	0	0	0	0	0	-	0	0
Non Current Liabilities Total	17,580,521	17,823,137	14,093,494	17,512,585	16,121,968	13,316,647	10,995,191	13,236,765	10,782,427	9,556,422	7,301,536	9,024,817	4,906,232	2,831,051	2,314,403	4,126,462	2,580,341	3,105,919	2,254,306	3,258,017	1,732,698	1,154,578	678,279	1,984,724	760,191	467,585	445,803	488,520	8,211,805	5,519,232	896,020	7,557,845	4,275,979	2,998,619	3,293,165	5,031,452	3,419,902	3,361,418	1,162,000	1,353,497	1,183,000	1,183,000	650,582	760,066	688,151	787,266	638,000	638,000	791,000	1,211,325	273,231	273,231	284,829	353,302	333,000	0	0	600,161	-	406,340	0
Non Currrent Assets Other	-703,856	-703,856	-704,244	3,113,087	-371,767	-371,767	4,296,099	4,296,099	3,699,873	3,911,097	4,057,646	4,057,646	2,359,235	2,721,939	2,388,781	2,388,781	3,774,654	3,419,980	1,978,494	1,978,494	2,173,317	1,816,882	1,107,924	1,107,924	776,966	530,983	871,583	988,370	2,072,432	1,517,572	1,120,026	1,120,026	1,093,547	917,393	638,313	638,313	736,793	432,780	232,315	232,315	20,809	21,001	97,010	97,010	203,000	201,969	355,000	355,000	395,000	429,136	203,533	203,533	98,989	332,995	301,000	0	0	265,513	-	230,601	0
Noncontrolling Interest In Consolidated Entity	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0	0	0	0	0	0	0	0	0	0	0	0	-	0	0
Other Assets	5,641,481	5,146,311	3,867,331	5,136,742	4,617,943	5,523,743	0	4,667,866	4,464,308	4,677,284	0	4,958,109	0	3,799,699	0	3,458,310	0	0	0	12,559	90,092	0	0	288,126	294,453	0	234,835	230,678	0	0	0	267,648	272,796	0	241,540	197,506	0	165,710	144,156	119,357	0	0	84,954	83,537	203,965	98,809	90,878	115,529	127,578	148,966	117,078	113,166	95,372	89,292	84,589	77,721	4,107	0	-	58,059	14,165
Other Current Assets	14,171,587	16,055,754	13,406,358	3,296,226	15,971,975	19,278,864	13,074,530	2,452,404	10,927,671	10,902,329	10,221,225	3,044,348	9,032,732	8,552,252	10,357,947	1,627,800	11,865,783	11,090,526	6,218,187	1,712,889	6,734,211	6,180,875	5,824,154	1,706,717	6,376,680	5,467,403	5,133,172	4,629,983	4,756,525	4,657,249	13,602,526	1,035,063	3,187,972	2,895,937	3,236,824	916,656	2,390,559	2,072,613	1,944,053	591,853	1,355,174	910,434	1,360,300	413,331	1,728,000	511,818	799,000	799,000	2,066,000	2,149,548	805,143	805,143	26,610	74,606	364,000	18,220	7,957	170,735	-	41,886	24,735
Other Current Liab	1,519,138	1,634,788	21,283,218	21,283,218	17,958,109	16,305,298	12,774,701	12,774,701	4,523,737	3,670,770	2,451,495	2,451,495	2,349,284	2,380,763	9,454,063	9,454,063	8,999,519	89,096	5,627,123	5,627,123	5,919,583	5,070,417	3,374,292	3,374,292	3,271,738	3,180,920	3,189,288	3,302,909	3,653,690	3,212,664	2,828,762	2,828,762	1,932,651	1,846,060	1,825,029	1,825,029	1,232,980	1,343,138	1,097,996	1,097,996	1,184,950	1,090,922	1,031,583	1,031,583	1,262,000	1,182,296	-84,784,982	-84,784,982	1,053,000	1,486,393	10,000	10,000	27,746	845,372	289,000	27,166	0	21,995	-	30,017	36,818
Other Liab	3,035,489	2,647,372	0	2,192,806	1,934,312	1,800,430	1,656,591	1,619,781	1,550,407	1,446,083	1,302,842	1,132,955	1,051,404	995,590	966,699	949,034	678,325	653,472	665,282	2,044	15,197	107,956	117,663	107,267	191,367	123,387	106,984	104,940	76,433	69,822	62,387	70,174	62,433	52,442	48,472	47,770	40,708	38,541	35,951	31,633	23,184	21,822	19,147	17,573	18,235	16,994	13,542	13,562	12,941	11,111	229	228	1,926	221	220	220	220	0	-	0	8,453
Other Stockholder Equity	10,526,357	10,597,591	9,869,590	9,869,761	9,068,117	8,855,067	4,874,509	5,574,753	4,876,903	4,871,513	4,516,065	5,208,075	3,908,784	3,854,707	3,879,268	4,568,974	3,965,184	3,931,530	3,426,688	3,996,864	3,485,125	3,465,242	2,782,847	3,299,733	2,774,795	2,760,151	2,699,316	2,665,134	2,598,877	2,564,553	2,558,697	2,910,461	2,628,567	2,587,699	2,528,244	2,780,149	2,567,358	2,554,743	1,769,898	1,954,827	1,764,812	1,338,703	1,331,813	1,510,853	-674,944	1,682,551	1,916,000	1,916,000	1,522,000	1,548,819	1,542,089	1,542,089	1,129,376	1,125,708	691,000	0	3,783	230,673	-	158,142	0
Preferred Stock Redeemable	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0	0	0	0	0	0	0	0	0	0	0	0	-	0	0
Preferred Stock Total Equity	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0	0	0	0	0	0	0	0	72,853	69,846	0	0	-	59,015	0
Property Plant And Equipment Gross	36,739,856	34,833,048	34,547,626	33,245,461	31,181,257	0	0	0	0	17,654,657	15,206,539	14,246,433	12,922,395	13,394,862	12,979,341	12,584,065	11,507,414	10,718,748	10,382,998	10,046,521	9,447,311	8,447,000	7,587,000	7,154,000	6,247,000	6,025,000	5,368,000	4,794,000	13,767,000	12,495,000	11,357,000	3,766,000	9,219,000	8,833,000	7,841,000	7,455,000	5,703,000	5,264,792	4,517,787	4,546,000	4,294,000	4,110,000	3,895,000	3,866,000	3,459,000	3,513,000	3,541,000	3,841,000	3,561,000	3,180,000	2,642,000	1,939,000	1,558,000	1,048,000	815,000	0	0	545,254	-	352,929	0
Property Plant And Equipment Net	36,739,856	34,833,048	33,245,461	33,245,461	31,181,257	27,252,791	21,036,757	21,036,756	18,631,691	17,143,577	13,601,078	14,246,433	12,922,395	12,588,388	11,785,821	12,584,065	9,935,344	8,814,386	8,275,900	10,046,521	7,670,817	7,132,508	6,680,187	7,153,918	6,028,169	5,885,094	5,278,158	4,738,681	4,273,985	3,977,421	3,766,436	10,816,184	3,470,845	3,411,948	3,101,795	7,454,865	3,171,841	3,199,098	3,186,998	4,545,942	3,331,930	3,339,581	3,329,873	3,866,264	3,458,769	3,513,074	3,841,000	3,841,000	3,561,000	3,180,025	1,938,978	1,938,978	1,558,384	1,048,496	815,000	0	0	545,254	-	352,929	0
Property Plant Equipment	36,739,856	34,833,048	0	33,245,461	31,181,257	27,252,791	24,449,394	21,036,756	18,631,691	17,143,577	14,676,636	13,601,078	12,922,395	12,588,388	12,161,300	11,785,821	11,507,414	10,718,748	10,382,998	25,429	162,580	1,069,662	1,085,241	1,099,537	938,985	888,787	779,818	690,443	2,064,476	1,880,100	1,761,244	1,669,731	1,450,501	1,424,665	1,264,861	1,201,507	929,201	848,668	726,753	750,937	701,708	669,693	627,133	620,578	550,339	552,979	562,301	610,241	558,324	491,998	403,437	293,785	232,925	154,611	119,380	108,628	86,191	0	-	51,730	7,880
Retained Earnings	9,112,599	8,344,636	6,249,883	6,294,534	5,584,866	5,035,050	5,629,377	4,929,138	5,389,912	5,195,690	4,908,359	4,216,353	5,285,309	5,278,460	4,671,367	3,981,661	4,301,863	3,938,301	3,772,705	3,202,528	3,657,893	3,468,805	3,366,226	2,849,341	3,343,754	3,332,462	3,285,095	3,224,520	2,239,790	1,995,869	1,398,808	1,047,045	1,049,455	854,374	715,056	463,151	470,342	189,777	42,031	-142,898	-122,255	-225,762	-145,981	-325,022	674,931	550,700	1,396,000	1,396,000	1,763,000	1,694,952	1,123,099	1,123,099	716,356	456,847	325,000	39,869	26,714	187,463	-	243,053	10,237
Retained Earnings Total Equity	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0	0	0	0	0	0	0	0	0	0	0	0	-	0	0
Short Long Term Debt	35,767,846	38,378,029	32,412,080	32,226,474	40,747,983	38,770,017	33,203,534	25,411,590	21,541,670	19,034,830	20,032,538	19,405,019	19,430,350	19,558,525	17,190,061	16,565,820	15,957,173	17,385,042	15,623,884	613	1	0	857	192,981	173,611	11,554,868	10,716,748	684,620	17,872,461	0	0	1,545,124	0	0	0	40,500	0	0	0	5,319,074	0	0	0	0	0	-	0	0	0	0	0	0	0	0	0	0	105,433	0	-	0	0
Short Long Term Debt Total	53,815,009	56,742,931	47,780,123	47,780,123	57,568,160	52,845,352	37,286,028	37,286,028	33,274,215	29,492,867	27,617,456	27,617,456	25,250,234	23,357,240	20,010,904	20,010,904	19,345,585	21,238,103	15,439,669	15,439,669	14,529,255	13,806,088	12,565,473	12,565,473	13,760,324	11,301,350	10,671,738	11,197,655	17,872,461	15,541,277	12,805,522	12,805,522	12,575,587	10,450,138	8,422,935	8,422,935	7,225,411	6,838,456	5,385,800	5,385,800	5,481,858	5,831,849	4,359,040	4,359,040	4,046,000	4,675,858	4,300,000	4,300,000	4,846,000	4,663,567	2,012,548	2,012,548	2,042,062	504,048	1,054,000	0	0	936,267	-	150,000	0
Short Term Debt	35,918,300	38,543,148	32,460,344	32,460,344	41,019,717	39,038,772	33,468,999	25,669,044	21,799,432	19,287,557	19,725,593	19,725,593	19,677,655	19,818,485	16,833,476	16,833,476	16,241,148	17,687,098	13,185,363	13,185,363	12,796,557	12,651,510	11,887,194	11,887,194	13,000,133	10,833,765	10,225,935	10,709,135	9,660,656	10,022,045	7,321,554	7,321,554	8,299,608	7,451,519	5,126,036	5,126,036	3,805,509	3,477,038	4,223,800	4,223,800	4,298,858	4,648,849	3,708,458	3,708,458	3,358,000	3,996,557	3,757,000	3,757,000	4,140,000	3,526,542	1,743,298	1,743,298	1,772,937	155,048	725,000	0	105,433	778,767	-	150,000	0
Short Term Investments	51,922	80,989	104,499	104,499	103,778	100,753	150,000	150,000	420,000	873,007	570,000	570,000	0	0	1,170,818	1,170,818	1,235,274	5,797,915	5,134,906	0	601,636	4,642	2,685	2,685	67,888	93,282	174,557	71,301	6,526	12,865	29,427	29,427	23,033	22,348	132,876	132,876	4,000	60,000	72,500	734,093	846,303	1,021,495	1,009,715	722,461	618,087	627,951	494,215,034	494,215,034	126,935	294,895	34,706	34,706	48,776	26,042	17,700	18,062	6,006	0	-	1,416	0
Temporary Equity Redeemable Noncontrolling Interests	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0	0	0	0	0	0	0	0	0	0	0	0	-	0	0
Total Assets	127,348,439	125,071,297	108,662,182	108,696,198	111,059,076	103,243,449	72,983,487	72,983,484	63,996,810	57,357,987	53,232,375	53,232,374	50,012,892	49,601,696	47,844,717	47,844,718	45,026,768	43,744,291	35,853,182	35,853,183	35,325,784	32,883,081	28,636,405	28,636,405	29,644,641	28,071,862	27,003,052	26,090,640	34,010,396	30,750,423	27,144,549	27,144,548	25,569,543	21,910,906	19,083,903	19,087,636	15,638,109	13,401,897	10,611,225	10,611,225	10,404,717	9,899,446	8,372,320	8,372,320	9,057,440	9,324,827	9,176,000	9,176,000	9,789,000	10,039,034	5,880,346	5,880,346	4,870,147	3,408,251	2,588,000	328,550	301,186	2,072,671	-	1,278,020	76,670
Total Current Assets	80,814,111	80,826,973	68,327,294	68,411,310	72,580,537	68,472,576	45,524,074	45,499,455	39,668,151	34,505,971	33,682,131	33,682,130	32,318,138	32,290,820	31,688,247	31,688,248	28,529,596	28,357,541	22,854,260	22,854,262	22,739,427	21,658,559	19,607,856	19,607,857	21,438,204	20,463,525	20,018,993	19,695,296	17,530,149	16,116,352	22,494,804	14,594,590	14,616,955	11,559,938	10,403,586	10,407,320	8,649,200	7,109,104	5,342,723	5,342,721	5,474,862	5,204,816	3,985,609	3,985,608	5,013,675	5,184,018	4,608,000	4,608,000	5,414,000	5,896,167	3,194,474	3,194,474	2,673,676	1,754,222	1,195,000	0	136,661	1,028,649	-	528,980	0
Total Current Liabilities	73,325,829	72,777,703	64,936,186	64,121,638	66,724,156	62,927,649	45,459,469	45,459,462	36,890,430	31,853,598	31,216,796	31,216,791	31,079,541	31,084,137	31,277,229	31,277,228	30,032,924	29,809,959	24,141,186	24,141,188	24,232,438	22,748,359	19,962,417	19,962,417	20,919,983	20,077,141	19,215,899	18,362,657	18,255,517	18,068,914	18,622,442	15,234,905	15,351,208	13,329,608	10,523,365	10,523,365	7,633,746	6,851,668	7,237,114	7,237,115	7,242,408	7,275,736	6,238,443	6,238,444	6,053,283	6,293,861	5,643,000	5,643,000	5,715,000	5,584,043	2,941,913	2,941,913	2,739,573	1,472,601	1,238,000	138,704	138,279	1,082,749	-	481,331	42,624
Total Liab	94,258,027	93,624,858	81,658,289	81,634,223	85,206,911	78,534,659	58,696,235	58,696,227	49,915,620	43,504,991	40,241,613	40,241,608	37,703,524	35,618,482	35,403,691	35,403,690	33,815,686	34,014,436	27,399,204	27,399,205	27,082,428	25,094,001	21,947,142	21,947,141	23,021,115	21,448,933	20,465,814	19,630,427	27,010,897	24,076,021	21,184,825	22,792,750	20,026,556	16,655,935	14,115,499	15,554,817	11,303,517	10,452,182	8,590,611	8,590,612	8,567,298	8,592,669	6,998,509	6,998,510	6,856,030	7,081,127	6,281,000	6,281,000	6,506,000	6,795,368	3,215,144	3,215,144	3,024,402	1,825,903	1,571,000	190,423	175,328	1,682,909	-	887,671	0
Total Permanent Equity	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0	0	0	0	0	0	0	0	0	0	0	0	-	0	0
Total Stockholder Equity	20,029,751	19,350,822	16,337,235	16,382,057	15,527,212	14,620,532	11,049,781	11,049,786	10,928,077	10,700,696	9,987,844	9,987,848	9,871,335	9,947,854	9,303,318	9,303,319	8,948,750	8,546,652	7,839,891	7,839,891	7,726,557	7,488,866	6,689,273	6,689,274	6,624,424	6,623,714	6,537,903	6,460,709	5,213,968	4,939,132	4,321,868	4,321,869	3,950,920	3,708,607	3,507,097	3,507,097	3,232,852	2,937,581	2,009,743	2,009,742	1,827,107	1,299,197	1,365,122	1,365,121	674,944	2,233,602	2,895,000	2,895,000	3,283,000	3,243,666	2,665,202	2,665,202	1,845,745	1,582,348	1,016,000	138,127	58,908	389,761	-	390,350	0
Treasury Stock	0	0	0	0	0	0	0	-43,170	-43,170	-43,170	-43,170	-43,170	-43,170	-43,170	-43,170	-13,876	-13,876	-13,876	-13,876	-2,017	0	0	0	-2,133	-2,086	-2,047	-2,016	-1,999	-2,081	-2,088	-2,152	-2,142	-2,183	-2,238	-2,238	-2,236	-2,261	-2,237	-2,232	-2,292	-2,267	-2,261	-2,234	-2,227	-2,208	-2,184	-2,203	-1,327	0	0	0	0	0	0	0	0	0	0	-	0	0
Warrants	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0	0	0	0	0	0	0	0	0	0	0	0	-	0	0

Cash Flow

Currency in CNY. All numbers in thousands.

	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31
Begin Period Cash Flow	9,097,246	8,074,772	6,273,958	3,482,028	2,761,375	2,820,202	3,683,664	1,777,021	456,076	279,130	433,851	521,205	152,480	27,324	27,242	8,508
Capital Expenditures	12,251,348	8,653,859	4,131,411	3,674,045	2,451,407	2,564,772	4,093,813	2,993,377	3,001,656	992,761	357,991	2,134,334	1,346,219	285,555	427,781	154,109
Cash And Cash Equivalents Changes	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Cash Flows Other Operating	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Change In Cash	2,173,708	1,022,474	1,800,814	2,791,931	720,653	-58,828	-863,462	1,906,643	1,320,944	176,946	279,130	-87,354	368,725	125,156	81	18,734
Change In Working Capital	-16,543,052	-9,856,992	-834,597	-1,738,794	-1,416,497	-660,690	-5,123,076	-1,530,090	-2,787,838	-353,579	-837,349	-1,649,142	-767,867	-261,515	-528,872	-74,191
Change Receivables	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Change To Account Receivables	-8,726,286	-3,301,729	451,674	323,752	532,112	-472,740	-3,039,995	49,993	-1,518,225	763	-897,969	-1,340,305	-373,985	-143,617	-90,428	-228
Change To Inventory	-7,816,766	-6,555,263	-1,286,271	-2,062,546	-1,948,610	-187,949	-2,083,081	-1,580,083	-1,269,613	-354,342	60,620	-180,223	-603,925	46,505	-249,182	-162,655
Change To Liabilities	0	6,379,100	-2,182,905	1,896,577	2,248,469	-249,576	1,026,813	5,352	6,927	411,939	0	0	76,704	0	0	0
Change To Netincome	0	1,708,760	2,107,729	741,809	179,024	264,731	-88,262	1,805	41	2,581	0	0	13,970	0	0	0
Change To Operating Activities	0	-464,446	-67,564	-1,433,450	-1,656,625	-155,027	-296,163	-1,590	-116	-279,219	0	0	0	0	0	0
Depreciation	2,759,564	1,802,071	1,383,202	978,949	817,278	616,054	788,390	630,659	441,736	363,238	335,605	269,628	100,885	46,090	15,544	1,619
Dividends Paid	0	23,212,799	15,597,932	0	0	0	0	0	0	0	0	0	0	0	0	0
End Period Cash Flow	11,270,954	9,097,246	8,074,772	6,273,958	3,482,028	2,761,375	2,820,202	3,683,664	1,777,021	456,076	279,130	433,851	521,205	152,480	27,324	27,242
Exchange Rate Changes	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Free Cash Flow	-18,052,132	-8,223,213	-3,539,925	-2,263,402	-1,836,861	-2,741,864	-5,896,781	-1,654,328	-2,814,589	-367,672	358,260	-2,932,469	-1,115,806	-361,851	-671,610	-150,567
Investments	-12,272,387	10,000	-570,000	-6,025,289	-3,934,825	-2,433,193	-6,908,980	302	-469	-84,000	0	0	0	0	0	0
Issuance Of Capital Stock	0	641,065	0	488,951	663,236	0	0	0	0	0	0	0	0	0	0	0
Net Borrowings	0	10,749,799	2,533,500	4,584,156	2,660,696	2,619,346	7,393,317	14,316	13,351	494,059	0	0	0	0	0	0
Net Income	620,506	721,018	230,385	898,662	406,479	141,706	1,826,710	683,752	673,025	188,012	-1,542,422	273,326	881,873	85,410	218,720	76,046
Other Cashflows From Financing Activities	47,859,852	35,943,515	31,916,355	22,422,690	16,461,228	2,624,356	7,379,351	3,850,632	5,303,693	841,080	-370,708	8,130,174	3,777,369	1,334,510	710,792	88,613
Other Cashflows From Investing Activities	0	-2,653,570	-320,074	-2,412,945	-1,494,153	44,220	-2,630,320	-267,144	-3,799	-195,092	0	0	0	0	0	0
Other Non Cash Items	6,682,002	8,017,035	-282,585	975,624	-609,210	-934,852	-4,418,068	24,639	-927,694	73,839	1,923,068	293,965	-16,718	46,161	50,780	68
Sale Purchase Of Stock	0	23,212,799	-29,294	527,196	707,512	69,929	21,731	7,614	2,167,994	430,600	0	-56,858	816,400	0	0	0
Stock Based Compensation	1,000,869	9,884	923	4,578	29,308	64,868	89,568	112,714	42,690	17,992	17,343	9,879	24,129	8,899	0	0
Total Cash From Financing Activities	20,018,922	12,017,851	6,297,279	7,381,818	3,972,608	2,624,356	7,379,351	3,850,632	5,303,693	841,080	-370,708	3,152,421	1,696,817	601,289	581,521	183,249
Total Cash From Operating Activities	-5,800,784	430,646	591,486	1,410,643	614,546	-177,093	-1,802,968	1,339,050	187,068	625,089	716,251	-798,135	230,413	-76,297	-243,828	3,541
Total Cashflows From Investing Activities	0	-11,309,233	-4,918,690	-6,025,289	-3,934,825	-2,433,504	-6,951,816	-3,314,638	-17,398	-1,286,123	0	0	0	0	0	0

	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-09-30	2015-06-30	2015-03-31	2014-12-31	2014-09-30	2014-06-30	2014-03-31	2013-12-31	2013-09-30	2013-06-30	2013-03-31	2012-12-31	2012-09-30	2012-03-31	2011-12-31	2011-09-30	2011-06-30	2011-03-31	2010-12-31	2010-09-30	2010-06-30	2010-03-31	2009-12-31	2009-09-30	2009-06-30	2008-12-31	2008-09-30	2008-06-30	2008-03-31	2007-12-31
Begin Period Cash Flow	0	11,270,954	8,074,772	0	0	9,097,246,449	8,074,772	0	0	8,074,772	6,404,842	6,404,842	0	6,273,958	4,198,545	4,198,545	0	3,482,027,573	1,928,303	0	0	1,928,303	2,117,949	2,117,949	1,531,000	0	2,501,417	3,355,114	3,403,496	55,685,082	456,076	0	0	25,047,261	456,076	0	0	456,076	950,002	950,002	453,255	279,130	228,449	228,449	466,186	560,000	560,000	0	820,700	452,000	452,000	452,000	0	0	0	0	0	0	-	-	-	0
Capital Expenditures	1,906,808	0	10,515,606	2,064,204	3,928,466	2,803,397	8,652,122,949	2,405,065	1,488,114	2,466,941	1,735,742	1,735,742	1,885,075	1,885,075	613,652	613,652	788,666	335,750	2,419,713,388	-137,151	-907,082	-15,579	720,121	720,121	763,228	730,413	730,413	320,535	1,395,764	118,856	575,284	461,557	25,836	159,804	575,284	483,778	80,533	121,915	242,820	242,820	321,253	42,560	11,211	11,211	59,951	2,134,300	2,134,300	66,326	88,561	1,346,200	1,346,200	78,314	35,231	10,752	35,566	11,633	0	46,786	0	0	0	11,623
Cash And Cash Equivalents Changes	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-	-	0
Cash Flows Other Operating	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-	-	0
Change In Cash	0	0	3,196,182	0	0	0	9,089,171,677	0	0	0	1,669,930	1,669,930	1,669,930	1,669,930	2,075,414	2,075,414	0	0	3,480,099,270	0	0	0	-189,647	-189,647	586,949	586,949	586,949	-853,697	-48,382	0	55,229,006	1,906,643	0	0	24,591,185	1,320,944	0	0	-493,926	-493,926	496,748	0	50,681	50,681	-237,736	-87,400	-87,400	0	0	368,700	368,700	0	0	0	0	-18,111	0	0	-	-	-	0
Change In Working Capital	-560,988	3,950,705	-1,226,303	-1,566,709	311,454	-3,177,453	-1,226,303	-2,737,728	125,348	527,589	1,226,303	1,226,303	31,914	1,089,313	234,461	234,461	-50,910	-165,491	2,508,938	206,085	-403,211	-735,240	484,690	484,690	-1,051,914	-416,709	-529,546	-1,941,713	-1,443,649	-5,824,924	-332,763	93,938	1,035,417	-1,649,892	-332,763	-1,131,499	758,018	2,151,828	-211,536	-211,536	579,519	181,915	-35,220	-35,220	329,893	-1,648,500	-1,648,500	-613,124	59,563	-767,900	-767,900	-347,518	324,621	0	0	52,481	-101,749	0	-	-	-	0
Change Receivables	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-	-	0
Change To Account Receivables	0	0	-9,048,478	0	0	0	-3,666,843,123	0	0	0	437,492	437,492	437,492	437,492	-672,334	-672,334	0	0	-904,884,337	0	0	0	512,510	512,510	41,520	41,520	41,520	-831,628	-1,719,882	0	-187,011	49,993	0	0	-187,011	-1,518,225	0	0	-176,969	-176,969	615,214	0	-251,235	-251,235	-160,976	40,000	40,000	0	0	44,000	44,000	0	0	0	0	-1,470	0	0	-	-	-	764
Change To Inventory	0	0	2,580,688	0	0	0	824,034,860	0	0	0	-761,522	-761,522	283,721	283,721	233,553	233,553	0	0	-1,689,598,056	0	0	0	904,010	904,010	-94,465	-276,232	-276,232	-1,677,781	-315,723	0	5,861	-1,580,083	0	0	5,861	-1,269,613	0	0	-128,409	-128,409	-123,889	0	246,437	246,437	-15,455	312,000	312,000	0	0	-278,000	-278,000	0	0	0	6,813	-5,347	0	0	-	-	-	0
Change To Liabilities	0	0	0	0	0	0	0	0	0	0	0	-154,161	0	0	0	0	0	0	0	0	0	0	0	-249,576	-1,168,525	0	0	1,026,813	0	0	0	1,465,412	0	0	0	1,655,753	0	0	0	411,939	0	0	0	0	0	0	0	0	0	0	76,704	0	0	0	0	-2,641	0	0	-	-	-	0
Change To Netincome	0	0	0	0	0	0	0	0	0	0	0	1,034,997	1,034,997	1,034,997	1,034,997	0	0	0	0	0	0	0	0	264,731	61,316	61,316	61,316	-88,262	0	0	0	494,314	0	0	0	145,784	0	0	0	2,581	0	0	0	0	0	0	0	0	0	0	13,970	0	0	0	0	3,860	0	0	-	-	-	0
Change To Operating Activities	0	0	0	0	0	0	0	0	0	0	0	672,925	672,925	672,925	672,925	0	0	0	0	0	0	0	0	-155,027	352,034	352,034	352,034	-296,163	0	0	0	-435,250	0	0	0	-27,610	0	0	0	-279,219	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	5,948	0	0	-	-	-	0
Depreciation	0	0	2,322,951	0	0	0	1,739,185,356	0	0	0	391,936	391,936	391,936	391,936	356,176	356,176	0	0	805,755,616	0	0	0	185,078	185,078	147,321	147,321	147,321	146,755	225,346	0	-284,235	630,659	0	0	-284,235	441,736	0	0	92,580	92,580	106,215	0	85,439	85,439	87,926	269,600	269,600	0	0	100,900	100,900	0	0	0	0	2,003	0	0	-	-	-	0
Dividends Paid	0	0	0	0	0	0	23,212,799	0	0	0	15,597,932	15,597,932	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-	-	0
End Period Cash Flow	0	0	11,270,954	8,074,772	0	0	9,097,246,449	8,074,772	0	0	8,074,772	8,074,772	6,404,842	0	6,273,958	6,273,958	4,198,545	0	3,482,027,573	1,928,303	0	0	1,928,303	1,928,303	2,117,949	1,531,000	0	2,501,417	3,355,114	3,403,496	55,685,082	456,076	0	0	25,047,261	456,076	0	0	456,076	456,076	950,002	453,255	279,130	279,130	228,449	472,600	472,600	560,000	0	820,700	820,700	820,700	452,000	0	0	0	0	0	-	-	-	0
Exchange Rate Changes	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-	-	0
Free Cash Flow	0	0	-18,592,676	0	0	0	-8,223,752,979	0	0	0	540,544	540,544	391,211	391,211	673,457	673,457	0	0	-1,803,598,457	0	0	0	224	224	-1,595,214	-1,562,398	-1,562,398	-1,778,019	-2,177,398	0	139,059,487	-254,843	0	0	-514,906,215	-453,628	0	0	-132,362	-132,362	533,797	0	-18,733	-18,733	311,304	-2,932,400	-2,932,400	0	0	-1,115,800	-1,115,800	0	0	0	0	-6,519	0	0	-	-	-	-11,138
Investments	0	0	0	0	0	0	0	0	0	0	0	-570,000	-570,000	-570,000	-570,000	-931,446	0	0	0	0	0	0	0	51,737	10,394	10,394	10,394	-121,227	0	0	0	82,573	0	0	0	-112,000	0	0	0	-84,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-5,280	0	0	-	-	-	0
Issuance Of Capital Stock	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-	-	0
Net Borrowings	0	0	0	0	0	0	0	0	0	0	0	-607,350	-607,350	-607,350	-607,350	0	0	0	0	0	0	0	0	2,619,346	3,058,990	3,058,990	3,058,990	7,393,317	0	0	0	3,920,124	0	0	0	3,191,431	0	0	0	494,059	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	5,131	0	0	-	-	-	0
Net Income	1,323,373	1,306,102	665,022	709,670	549,822	-623,269	239,468	239,468	194,224	66,236	-362,668	-362,668	6,853	318,043	392,729	392,729	363,562	125,410	114,813	16,692	189,088	98,982	23,361	23,361	11,178	47,368	60,574	1,003,141	294,183	280,083	361,281	52,389	195,081	76,418	244,714	38,692	280,565	138,211	164,943	164,943	105,440	48,962	-762,548	-762,548	-114,527	179,100	179,100	11,865	37,073	441,715	441,715	39,297	26,709	10,754	12,261	2,034	614	5,755	11,158	9,531	5,615	0
Other Cashflows From Financing Activities	0	0	29,504,711	0	0	0	12,046,292,508	0	0	0	14,054,983	29,652,915	2,821,314	2,821,314	5,337,235	-483,613,560	0	0	3,321,068,380	0	0	0	2,689,545	2,689,545	7,467,952	-110,398	-110,398	10,964,749	4,950,199	0	-102,451,181	-77,106	0	0	1,676,486,750	213,959	0	0	491,460	491,460	718,318	0	1,094,351	1,857,651	599,493	3,205,500	3,205,500	0	0	880,400	880,400	0	0	0	0	0	0	1,586	-	-	-	7,730
Other Cashflows From Investing Activities	0	0	0	0	0	0	0	0	0	0	0	-452,216	-452,216	-452,216	-452,216	0	0	0	0	0	0	0	0	44,220	-813,547	-813,547	-813,547	-2,630,320	0	0	0	-278,115	0	0	0	-908,196	0	0	0	-195,092	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-10,719	0	0	-	-	-	0
Other Non Cash Items	-1,323,373	-1,306,102	-10,424,777	0	-549,822	623,269	-239,468	0	-194,224	-66,236	926,500	926,500	-6,853	-318,043	25,311	25,311	-363,562	-125,410	-114,813	0	-189,088	-98,982	15,725	15,725	46,785	-47,368	-60,574	-836,533	112,927	-280,083	-361,281	0	-195,081	-76,418	-244,714	0	-280,565	-138,211	54,303	103,447	60,284	-48,962	702,250	714,550	63,393	576,600	576,600	0	0	447,585	447,585	0	0	0	0	0	0	0	-	-	-	0
Sale Purchase Of Stock	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	69,929	47,012	47,012	47,012	21,731	0	0	0	7,614	0	0	0	784,729	0	0	0	430,555	0	0	-763,300	-763,300	0	-53,100	-53,100	0	0	816,400	816,400	0	0	0	0	0	0	0	-	-	-	0
Stock Based Compensation	0	0	1,000,869	0	0	0	4,671	0	5,046	84	56	56	194	0	-6,630	-6,630	6,545	11,587	-3,023	0	17,255	7,700	19,000	19,000	14,644	13,822	17,402	147,689	29,558	13,354	71,882	0	40,832	0	42,690	0	0	0	10,168	10,168	3,591	4,233	2,556	2,556	4,571	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-	-	0
Total Cash From Financing Activities	0	0	17,734,325	0	0	0	12,015,566,428	0	0	0	2,284,597	2,284,597	2,284,597	2,284,597	1,720,688	1,720,688	0	0	3,967,895,197	0	0	0	-1,006,504	-1,006,504	2,995,604	2,995,604	2,995,604	2,723,976	1,991,473	0	-105,081,698	594,435	0	0	1,673,856,233	854,800	0	0	-523,497	-523,497	15,304	0	178,346	178,346	-600,011	3,152,400	3,152,400	0	0	1,696,800	1,696,800	0	0	0	88,089	5,131	0	85,236	-	-	-	25,121
Total Cash From Operating Activities	0	0	-8,077,070	0	0	0	428,369,970	0	0	0	2,276,286	2,276,286	2,276,286	2,276,286	1,287,109	1,287,109	0	0	616,114,931	0	0	0	720,345	720,345	-831,986	-831,986	-831,986	-1,457,484	-781,634	0	138,484,203	206,714	0	0	-515,481,499	30,150	0	0	110,457	110,457	855,050	0	-7,523	-7,523	371,255	-798,100	-798,100	0	0	230,400	230,400	0	0	0	0	5,114	0	0	-	-	-	485
Total Cashflows From Investing Activities	0	0	0	0	0	0	0	0	0	0	0	-2,755,730	-2,755,730	-2,755,730	-2,755,730	0	0	0	0	0	0	0	0	-2,433,504	-1,563,972	-1,563,972	-1,563,972	-6,951,816	0	0	0	-3,314,638	0	0	0	-4,158,754	0	0	0	-1,286,123	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-28,357	0	0	-	-	-	0

Income Statement

Currency in CNY. All numbers in thousands.

	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31
Cost Of Revenue	70,848,983	34,168,686	28,957,798	24,314,602	21,528,868	23,481,375	17,531,299	12,522,914	7,643,688	5,641,487	4,230,194	6,235,100	3,297,469	1,337,648	1,872,089	621,024
Depreciation And Amortization	2,629,695	1,666,280	1,236,237	833,409	817,278	616,054	788,390	630,659	441,736	363,238	335,605	269,628	100,885	46,090	15,544	1,619
Discontinued Operations	0	0	0	0	0	0	836,042	-303	-4,047	-25,118	0	0	0	0	0	0
Ebit	802,978	1,376,218	1,899,116	1,797,889	659,475	325,262	1,474,627	1,121,805	850,271	649,119	-835,673	-174,759	786,687	122,473	316,065	74,810
Ebitda	3,432,673	3,042,498	3,135,353	2,631,298	1,476,752	941,316	2,263,017	1,752,465	1,292,007	1,012,356	-500,069	94,869	887,572	168,563	331,609	76,429
Effect Of Accounting Charges	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Extraordinary Items	0	0	0	0	0	0	995,520	89,489	4,520	0	0	0	0	0	0	0
Gross Profit	12,278,313	6,657,835	6,171,661	5,431,686	3,513,745	2,991,568	3,869,339	2,931,461	2,097,189	1,437,351	564,575	1,149,851	1,357,386	230,212	311,525	88,129
Income Before Tax	2,170,417	1,149,712	513,666	1,202,331	409,985	146,819	1,247,723	867,073	562,750	208,024	-1,552,734	354,399	1,028,004	84,068	220,119	76,046
Income Tax Expense	605,278	194,140	178,411	277,979	4,410	4,628	257,487	100,534	135,393	18,532	8,918	81,073	146,130	-1,342	822	-457
Interest Expense	490,703	624,029	459,234	391,582	295,692	245,530	359,296	385,942	287,668	223,377	221,720	182,502,237	64,268	29,937	0	0
Interest Income	450,620	480,198	1,412,849	560,620	306,120	384,208	283,813	357,642	0	0	0	0	0	0	0	0
Minority Interest	-957,772	-234,554	3,002,918	3,137,709	614,087	-10	-496	5,981	1,381	245	0	0	0	0	85	0
Net Income	620,506	721,018	230,385	898,664	406,479	141,706	990,668	766,603	698,143	188,012	-1,542,422	273,343	881,874	85,410	218,720	76,046
Net Income Applicable To Common Shares	665,157	721,020	230,385	898,662	406,479	141,706	1,826,710	683,752	17,478	31,057	0	43,430	126,637	12,513	32,059	0
Net Income From Continuing Ops	1,622,929	955,574	335,257	924,352	405,576	142,191	990,236	2,799	112,493	189,492	0	0	0	0	0	0
Net Interest Income	-490,703	-624,029	-459,234	-410,228	-295,692	-245,530	-359,296	0	0	0	0	0	0	0	0	0
Non Operating Income Net Other	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Non Recurring	0	0	0	0	0	0	0	0	161	0	0	0	0	0	0	0
Operating Income	802,978	1,376,218	1,899,116	1,797,889	659,475	325,262	1,474,627	1,121,805	850,271	649,119	-835,673	315,885	989,922	122,473	271,254	75,589
Other Items	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Other Operating Expenses	80,466,176	39,052,780	34,077,681	28,063,754	24,346,637	26,064,472	19,788,158	14,276,283	8,925,731	6,647,437	6,125,782	7,069,066	3,664,933	1,445,387	1,912,360	633,564
Preferred Stock And Other Adjustments	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Reconciled Depreciation	2,759,564	1,802,071	1,410,705	978,949	817,278	616,054	0	0	0	0	0	0	0	0	0	0
Research Development	724,769	461,590	389,192	324,435	366,577	294,103	181,106	143,671	106,627	65,482	68,960	29,993	31,616	5,897	442	51
Selling And Marketing Expenses	7,241,888	2,856,465	2,473,982	2,250,336	1,708,270	1,901,359	1,434,039	1,144,559	768,258	492,626	343,407	338,382	169,822	16,728	1,168	1,307
Selling General Administrative	3,481,325	1,945,531	1,396,992	1,047,053	768,380	461,909	770,872	515,125	362,455	223,461	754,261	465,591	166,026	85,115	38,662	11,182
Tax Provision	579,242	194,140	178,411	277,979	4,410	4,628	257,487	100,534	0	0	0	0	0	0	0	0
Total Operating Expenses	9,617,193	4,884,094	5,119,883	3,749,151	2,817,769	2,583,097	2,256,858	1,753,369	1,282,043	1,005,950	1,895,588	833,966	367,464	107,739	40,272	12,540
Total Other Income Expense Net	1,367,439	-226,506	-1,385,450	-595,557	-249,490	-178,443	-226,905	-254,732	-287,521	-441,094	-717,060	221,016	102,350	-8,468	-44,811	779
Total Revenue	83,127,296	40,826,521	35,129,459	29,746,288	25,042,613	26,472,943	21,400,638	15,454,374	9,740,877	7,078,839	4,794,768	7,384,951	4,654,855	1,567,860	2,183,614	709,153

	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-09-30	2015-06-30	2015-03-31	2014-12-31	2014-09-30	2014-06-30	2014-03-31	2013-12-31	2013-09-30	2013-06-30	2013-03-31	2012-12-31	2012-09-30	2012-06-30	2012-03-31	2011-12-31	2011-09-30	2011-06-30	2011-03-31	2010-12-31	2010-09-30	2010-06-30	2010-03-31	2009-12-31	2009-09-30	2009-06-30	2009-03-31	2008-12-31	2008-09-30	2008-06-30	2008-03-31	2007-12-31	2007-09-30	2007-06-30	2007-03-31
Cost Of Revenue	25,701,047	25,902,426	25,793,794	26,127,056	16,447,649	16,069,363	13,743,415	13,743,415	7,273,962	6,569,088	7,917,666	7,917,667	7,275,366	6,937,720	7,799,733	7,799,733	5,888,015	5,769,143	6,587,906	6,587,907	5,697,186	5,333,000	5,617,326	5,617,326	5,647,016	7,089,255	5,127,779	4,391,518	4,305,166	4,638,350	4,607,306	4,891,073	3,187,894	2,536,999	2,293,086	2,293,087	2,032,904	1,881,983	1,577,388	1,647,227	1,524,871	1,359,408	1,044,985	1,123,171	1,162,081	1,134,401	6,230,115,910	6,230,115,910	1,715,000	1,689,627	1,682,578	1,682,578	956,425	658,466	419,028	84,405	49,231	183,198	35,494	80,911	78,173	69,843	45,472	36,372	20,076	16,262	12,425
Depreciation And Amortization	657,424	657,424	657,424	304,385	416,570	416,570	416,570	24,933	309,059	309,059	364,050	391,936	290,729	208,352	310,839	356,176	174,190	204,319	204,319	5,947	154,013	154,013	185,078	185,078	147,321	141,828	197,098	146,755	225,346	208,144	299,357	40,333	110,434	110,434	110,434	48,085	90,809	90,809	92,580	92,580	106,215	82,221	85,439	85,439	87,926	-	269,600	269,600	519,400	0	100,900	100,900	64,361	-73,814	-1,444	0	0	10,326	-	0	-	-	-	0	-	-	-
Discontinued Operations	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	814,519	21,523	0	0	-82,851	0	0	0	-25,118	0	0	0	-25,118	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-	-
Ebit	3,018,116	2,090,955	828,891	646,172	65,790	-132,452	636,134	717,972	111,208	356,379	185,746	-92,729	546,035	434,658	663,065	322,688	638,790	260,290	237,363	237,363	188,022	109,138	91,341	-43,379	91,857	85,287	56,777	100,283	437,118	408,096	270,836	482,709	383,996	236,967	242,328	236,626	239,900	251,631	335,717	176,328	244,285	249,655	-590,047	-717,123	-21,461	-320,800	314,984,171	314,984,171	-197,300	-320,800	368,496	368,496	379,305	150,674	97,117	-2,034	2,034	19,268	0	0	0	0	0	0	-	-	-
Ebitda	3,675,540	2,748,379	1,486,315	950,557	482,360	284,118	1,052,704	742,905	420,267	665,438	549,796	299,207	836,764	643,010	973,904	678,864	812,980	464,609	441,682	243,310	342,035	263,151	276,419	141,699	239,178	227,115	253,875	247,038	662,464	616,240	570,194	523,042	494,430	347,401	352,762	284,711	330,709	342,440	428,297	268,908	350,500	331,876	-504,607	-631,684	66,464	-82,511	315,253,771	315,253,771	322,100	409,864	469,396	469,396	443,666	76,860	95,673	0	0	29,594	-	0	-	-	-	0	-	-	-
Effect Of Accounting Charges	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-	-
Extraordinary Items	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-	-
Gross Profit	6,133,211	4,782,673	4,208,261	4,276,570	3,071,667	2,771,779	2,644,293	2,644,293	1,296,043	1,359,128	1,506,912	1,506,911	1,494,929	1,512,942	1,729,726	1,729,725	1,593,740	1,143,883	1,132,425	1,132,425	997,629	727,631	735,313	735,314	772,397	834,833	649,025	729,985	1,026,066	1,028,410	844,718	1,183,057	864,626	663,595	678,166	678,166	528,481	550,257	610,678	540,839	437,613	405,477	122,181	43,995	167,448	103,590	1,148,648,967	1,148,648,967	66,100	576,385	633,343	633,343	481,894	242,149	129,840	30,900	9,250	38,034	0	47,542	0	0	0	0	-	-	-
Income Before Tax	2,727,881	2,752,779	1,275,114	1,158,392	948,408	-228,395	450,699	447,227	216,995	159,993	-385,756	-405,664	126,016	367,720	613,722	581,944	484,844	68,768	70,650	95,740	249,830	89,096	54,455	55,880	15,645	14,787	61,933	96,473	327,903	340,257	361,572	453,043	275,008	117,782	272,433	270,290	141,576	159,336	165,292	169,174	123,826	48,056	-762,464	-762,447	-113,238	-320,778	353,659,596	353,659,596	69,100	280,269	519,751	519,751	297,678	210,575	85,456	12,064	2,034	4,201	0	5,754	11,251	9,641	5,618	4,785	3,196	1,532	912
Income Tax Expense	403,305	341,144	265,391	239,356	150,775	118,089	126,872	126,872	21,958	6,900	23,088	-23,089	69,226	22,754	220,993	220,993	117,153	55,917	43,450	-43,451	61,157	10,003	31,095	31,095	4,466	32,461	1,528	49,200	115,973	90,409	48,264	59,593	34,225	1,845	9,405	-9,405	153,774	20,893	347	347	18,388	215	83	83	1,289	-10,290	80,973,668	80,973,668	1,000	45,007	78,035	78,035	38,170	29,925	12,049	0	0	4,741	0	112	8	110	3	0	-	-	-
Interest Expense	148,171	208,453	111,716	111,716	128,749	88,041	144,420	144,420	165,553	157,523	115,161	115,161	129,221	106,239	83,826	83,826	94,892	116,754	74,047	74,047	55,600	80,636	55,551	55,551	52,286	80,572	57,121	74,538	219,684	121,615	97,263	97,263	146,235	79,506	82,102	82,102	73,055	71,525	53,364	53,364	56,286	58,462	56,320	56,320	51,757	54,828	182,835,127	182,835,127	253,000	45,732	34,158	64,500	89,200	60,900	11,448	1,516	1,499	694	677	322	227	258	120	0	-	-	-
Interest Income	0	0	0	422,308	621,928	403,397	190,218	145,370	28,939	359,700	4,070	590,703	506,153	87,655	228,337	48,594	160,777	162,074	189,175	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0	0	0	0	0	0	0	0	0	0	0	0	-	0	-	-	-	0	-	-	-
Minority Interest	-1,001,203	-1,105,533	-605,107	-357,841	-247,811	-276,785	-75,336	-84,359	-813	3,152,300	3,051,643	3,002,918	2,438,033	4,035,360	3,143,437	3,137,709	2,262,332	1,183,203	646,148	1,887	10,953	45,023	15	135	-1,323	1,210	-665	-496	0	-14	14	6,343	7,191	6,969	6,751	5,955	2,411	38	166	110	316	0	0	0	-1	1	2	0	0	0	0	0	0	0	0	0	0	0	0	0	85	0	0	0	-	-	-
Net Income	1,323,373	1,306,102	665,022	709,670	549,822	-623,269	239,468	239,467	194,224	66,236	-376,950	-376,951	6,853	318,043	369,504	369,506	363,562	125,410	114,813	114,813	189,088	98,982	22,472	22,472	11,292	47,368	60,574	145,796	212,152	250,024	444,132	349,352	195,081	76,418	244,714	244,714	280,565	138,211	164,289	164,286	103,505	48,962	-761,137	-761,135	-114,529	-310,486	272,685,928	272,685,928	68,100	235,262	441,715	441,715	259,508	180,650	73,407	12,261	2,034	4,201	0	5,755	11,158	9,531	5,615	0	-	-	-
Net Income Applicable To Common Shares	1,323,373	1,306,102	1,306,102	709,670	549,822	-623,269	28,937	239,467	194,224	66,236	221,092	-376,950	6,851	318,043	282,441	369,503	363,564	125,410	40,187	353	4,008	14,844	573	3,859	1,998	7,123	8,800	15,990	31,491	35,854	59,351	52,389	30,694	14,250	8,220	38,692	45,964	22,282	1,534	27,181	16,875	7,730	0	0	0	0	0	31,565	11,865	37,073	51,401	56,763	39,204	24,401	6,269	12,261	2,034	614	0	5,755	11,158	9,531	5,615	4,785	3,196	1,532	912
Net Income From Continuing Ops	2,324,576	2,411,635	1,393,757	1,067,511	797,633	-346,484	104,273	323,826	195,037	166,893	269,817	-362,669	56,788	344,966	296,169	392,731	367,693	124,685	39,248	351	3,999	14,862	590	117,855	97,899	-133,968	60,405	1,012,719	-22,484	0	0	766,539	0	0	0	698,143	0	0	0	189,492	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-2,034	2,034	0	0	0	0	0	0	0	-	-	-
Net Interest Income	-148,171	-208,453	-55,392	-111,716	-128,749	-88,041	-162,198	-144,420	-165,553	-157,523	-156,535	-115,161	-129,221	-106,239	-108,613	-83,826	-94,892	-135,400	-96,110	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0	0	0	0	0	0	0	0	0	0	0	0	-	0	-	-	-	0	-	-	-
Non Operating Income Net Other	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0	0	0	0	0	0	0	0	0	0	0	0	-	0	-	-	-	0	-	-	-
Non Recurring	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	18,062	0	0	0	18,062	0	0	0	1,002	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-	-
Operating Income	3,018,116	2,090,955	828,891	646,172	65,790	-132,452	636,134	485,826	111,208	356,379	185,746	71,575	546,035	434,658	663,065	594,804	638,790	260,290	237,363	237,363	188,022	109,138	91,341	91,343	91,857	85,287	56,777	100,283	437,118	408,096	270,836	482,709	383,996	236,967	242,328	236,626	239,900	251,631	335,717	262,306	244,285	249,655	-590,047	-733,709	-21,461	-82,511	315,253,771	315,253,771	-197,300	409,864	459,943	459,943	379,305	150,674	97,117	10,497	3,548	19,268	1,077	10,523	13,122	10,286	5,828	0	-	-	-
Other Items	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-	-
Other Operating Expenses	28,958,206	27,723,867	28,615,225	29,448,933	18,442,159	18,981,496	15,792,590	15,641,938	8,187,457	7,610,700	9,695,173	9,129,133	8,515,058	7,976,703	8,856,376	8,852,026	6,883,897	6,662,740	7,545,689	7,474,735	6,402,166	5,905,183	6,226,511	6,231,764	6,351,482	7,828,729	5,657,750	4,945,031	4,870,469	5,251,496	5,080,041	5,536,296	3,631,277	2,991,377	2,616,718	2,686,641	2,346,754	2,201,379	1,969,411	1,918,664	1,782,372	1,658,368	1,873,310	1,794,780	933,152	1,320,502	6,281,115,624	6,281,115,624	1,978,300	1,856,148	1,855,977	1,855,977	1,059,014	749,941	451,751	0	0	201,964	0	0	0	0	0	0	-	-	-
Preferred Stock And Other Adjustments	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0	0	0	0	0	0	0	0	0	0	0	0	-	0	-	-	-	0	-	-	-
Reconciled Depreciation	0	0	0	0	0	0	0	0	0	0	0	399,071	0	0	356,176	356,176	0	0	0	0	0	0	0	185,078	147,321	0	0	146,755	225,346	0	0	0	0	0	0	0	0	0	0	92,580	106,215	0	0	85,439	87,926	-	269,600	269,600	0	0	0	100,900	0	0	0	0	0	0	-	0	-	-	-	0	-	-	-
Research Development	218,097	225,574	228,399	228,399	201,690	149,703	114,549	114,549	125,091	114,806	137,320	137,320	105,445	74,643	91,740	91,740	82,059	73,258	94,183	94,183	104,105	81,907	83,271	83,271	74,652	73,694	62,486	57,231	41,864	43,617	39,040	39,039	39,869	39,838	37,619	37,619	23,433	23,508	29,352	29,351	12,945	13,052	20,256	20,256	16,944	18,107	30,012,833	30,012,833	5,200	7,994	12,004	12,004	5,630	13,982	2,951	864	123	221	0	65	0	0	0	7	-	-	-
Selling And Marketing Expenses	1,739,184	1,665,996	2,254,369	2,290,925	1,980,508	1,622,544	1,117,473	1,117,473	614,694	509,440	652,748	652,751	498,221	709,189	632,871	632,871	596,192	561,959	551,657	551,658	476,640	366,077	446,957	446,956	489,767	550,823	413,812	350,662	371,669	373,338	366,232	366,232	302,547	261,551	253,978	253,978	177,170	182,425	143,147	143,147	138,064	117,491	84,686	84,686	90,420	90,433	338,558,047	338,558,047	0	97,754	77,768	77,768	64,035	28,019	9,954	0	0	3,204	-	0	-	-	-	0	-	-	-
Selling General Administrative	1,157,814	800,148	869,249	896,601	823,679	1,131,984	758,106	776,137	445,050	378,503	518,718	531,097	345,228	294,452	330,076	342,048	276,699	248,376	238,179	249,221	228,862	170,509	104,809	113,744	116,121	125,029	115,950	213,115	175,415	203,360	162,309	295,077	138,214	125,239	134,663	144,241	87,978	92,693	95,798	102,462	42,319	25,280	507,540	510,056	77,515	77,561	419,570,594	419,570,594	258,100	60,773	83,627	83,627	32,924	49,474	19,818	5,872	5,703	15,341	1,461	1,941	1,869	1,206	887	815	400	312	192
Tax Provision	403,305	341,144	315,004	239,356	150,775	118,089	71,021	126,872	21,958	-6,900	52,210	-23,089	69,225	22,754	109,520	220,993	117,152	-55,917	-4,250	-43,450	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0	0	0	0	0	0	0	0	0	0	0	0	-	0	-	-	-	0	-	-	-
Total Operating Expenses	3,257,159	1,821,441	2,821,431	3,321,877	1,994,510	2,912,133	2,049,175	1,898,523	913,495	1,041,612	1,777,507	1,211,466	1,239,692	1,038,983	1,056,643	1,052,293	995,881	893,597	957,783	886,828	704,980	572,183	609,185	614,438	704,466	739,474	529,971	553,513	565,303	613,146	472,735	645,223	443,383	454,378	323,632	393,554	313,850	319,396	392,024	271,437	257,501	298,960	828,325	671,609	228,929	186,101	50,999,714	50,999,714	263,300	166,521	173,400	173,400	102,589	91,475	32,723	0	0	18,766	0	0	0	0	0	0	-	-	-
Total Other Income Expense Net	-290,235	661,824	446,223	512,220	882,618	-95,943	-185,435	-154,123	105,787	-196,386	-571,502	-585,948	-420,019	-66,938	-49,344	-11,662	-153,947	-191,522	-166,713	-75,810	61,808	-20,042	-36,886	-9,445	-76,212	-70,500	5,156	-3,810	-109,215	-67,839	90,736	12,472	-108,988	-119,185	30,105	67,780	-98,324	-92,295	-170,426	-46,864	-120,459	-201,599	-172,417	-78,513	-91,777	-183,439	38,405,825	38,405,825	266,400	-83,863	92,897	92,897	-64,361	73,814	1,231	-708	708	-10,326	0	0	0	0	0	0	-	-	-
Total Revenue	31,834,258	30,685,099	30,002,055	30,403,626	19,519,316	18,841,142	16,387,708	16,387,708	8,570,005	7,928,216	9,424,578	9,424,578	8,770,295	8,450,662	9,529,458	9,529,458	7,481,755	6,913,026	7,720,331	7,720,332	6,694,815	6,060,631	6,352,639	6,352,640	6,419,413	7,924,088	5,776,804	5,121,503	5,331,232	5,666,760	5,452,023	6,074,130	4,052,520	3,200,594	2,971,253	2,971,253	2,561,385	2,432,240	2,188,066	2,188,066	1,962,484	1,764,886	1,167,166	1,167,166	1,329,529	1,237,991	7,378,764,877	7,378,764,877	1,781,100	2,266,012	2,315,921	2,315,921	1,438,319	900,615	548,868	100,774	58,482	221,232	38,032	93,375	93,164	81,335	52,187	42,038	23,568	18,090	13,520

Latest Income Statement (annual, 2022-12-31)

Gross Profit (+$)
totalRevenue	83,127,296
Cost of Revenue	-70,848,983
Gross Profit	12,278,313	12,278,313

Operating Income (+$)
Gross Profit	12,278,313
Operating Expense	-9,617,193
Operating Income	802,978	2,661,120

Operating Expense (+$)
Research Development	724,769
Selling General Administrative	3,481,325
Selling And Marketing Expenses	7,241,888
Operating Expense	9,617,193	11,447,982

Net Interest Income (+$)
Interest Income	450,620
Interest Expense	-490,703
Other Finance Cost	-450,620
Net Interest Income	-490,703

Pretax Income (+$)
Operating Income	802,978
Net Interest Income	-490,703
Other Non-Operating Income Expenses	0
Income Before Tax (EBT)	2,170,417	-564,461 EBIT - interestExpense = 312,275 1,225,784 1,111,209
Interest Expense	490,703
Earnings Before Interest and Taxes (EBIT)	802,978	2,661,120
Earnings Before Interest and Taxes (EBITDA)	3,432,673

After tax Income (+$)
Income Before Tax	2,170,417
Tax Provision	-579,242
Net Income From Continuing Ops	1,622,929	1,591,175
Net Income	620,506
Net Income Applicable To Common Shares	665,157

Non-recurring Events
Discontinued Operations	0
Extraordinary Items	0
Effect of Accounting Charges	0
Other Items	0
Non Recurring	0
Other Operating Expenses	80,466,176
Total Other Income/Expenses Net	1,367,439	490,703

Technical Analysis of Jinkosolar
The psychology behind the price

Technical indicators reflecting market sentiment and the collective psychology of you and other traders. Your emotions and other traders' emotions, such as fear and greed, play a significant role in driving price movements.

General trend

First of all, I'm going to put something in the back of your mind. One of the most stable factors that gives you more confidence as a trader: the general trend of Jinkosolar. The general trend of Jinkosolar is BEARISH with 85.7% confidence. It is very important for your mental being to use each indicator with this in mind. But beware, also the general trend flips once in a while! You can use moving averages to determine Jinkosolar's overall trend. For convenience I use the most commonly used moving averages: 20, 50, 100 & 200. Of course you can use other moving averages or other indicators to determine the trend.

Indicator phases

Some of the indicators I use have 3 zones: overbought, oversold and neutral. Transitions between these zones (market phases) provide valuable trading signals and insights. Expecially with the general trend mind, I use the highlighted phases:

Indicator zone transitions	Bullish trend (-85.7%)		Bearish trend (85.7%)
Overbought to neutral	Bullish pullback	=	Bearish reversal
Upper to lower neutral	Bullish correction	=	Bearish continuation
Nuetral to oversold	Oversold	=	Oversold
Oversold to neutral	Bullish reversal	=	Bearish correction
Lower to upper neutral	Bullish continuation	=	Bearish pullback
Nuetral to overbought	Overbought	=	Overbought

1. Price Targets

1.1 Support & Resistance

Support and resistance are levels on a price chart that act as barriers or zones where the price of an asset tends to stop, reverse, or experience a significant amount of buying or selling pressure.

Support is a price level at which demand for an asset is strong enough to prevent the price from falling further.
Resistance is a price level at which selling pressure becomes significant enough to prevent the price of an asset from rising further.

Score

Let's take a look at the Support & Resistance of JinkoSolar Holding Company Limited.

The long score for the Support & Resistance is 0/1.
The longshort score for the Support & Resistance is 0/(-1 +1).

Between support/resistance: The price is trading between support and resistance lines.

The bullish price targets are: 25.60 < 25.70 < 25.88.

The bearish price targets are: 21.06.

Tweet this

JinkoSolar Holding Company Limited Daily Support & Resistance Chart

2. Trend Indicators

2.1 Moving Averages

Shows the moving average of the selected period.

Moving averages are lagging trend indicators.
There are many types of moving averages.
Moving averages are also used within other indicators.

Score

Let's take a look at the Moving Averages of JinkoSolar Holding Company Limited. The current mas is .

The long score for the Moving Averages is 1/14.
The longshort score for the Moving Averages is -12/(-14 +14).

MA 20 trending down: The MA 20 is trending down. -1
Close > MA 20: The price is above the MA 20. +1
MA 20 < MA 50: The MA 20 is lower than the MA 50. -1
MA 20 < MA 100: The MA 20 is lower than the MA 100. -1
MA 20 < MA 200: The MA 20 is lower than the MA 200. -1
MA 50 trending down: The MA 50 is trending down. -1
Close < MA 50: The price is below the MA 50. -1
MA 50 < MA 100: The MA 50 is lower than the MA 100. -1
MA 50 < MA 200: The MA 50 is lower than the MA 200. -1
MA 100 trending down: The MA 100 is trending down. -1
Close < MA 100: The price is below the MA 100. -1
MA 100 < MA 200: The MA 100 is lower than the MA 200. -1
MA 200 trending down: The MA 200 is trending down. -1
Close < MA 200: The price is below the MA 200. -1

Directionalities and relatives.

Moving Average	Amount of candles	vs. MA 50	vs. MA 100	vs. MA 200
MA 20	20
MA 50	50	-
MA 100	100	-	-
MA 200	200	-	-	-

Explanation: https://www.youtube.com/watch?v=xwW8h0lrQ-I

Shows the moving average of the selected period.

There are four types of indicators:

Trend indicators
Momentum indicators
Volatility indicators
Volume indicators

There are various kinds of moving averages:

Simple moving average (SMA);
Exponential moving average (EMA);
Smoothed moving average (SMMA);
Linear weighted moving average (LWMA).

The moving average looks at a certain period of time and it calculates the price average. The various types of averages are using various formulas. Don’t worry, you don’t have to memorize any formula. All moving averages are calculated automatically by basically every charting software you use. But it’s good to know how moving averages are actually calculated.

Simple moving average

SMA is calculated by summing up the price closures of the selected period. The price is then divided by the selected period. For example, when using the 21 day moving average you sum up all the closing prices for each day and divide that by 21. The result is a line on the chart representing the average. Because it’s an average in the selected timeframe, the trend is always lagging. An moving average looks like this on the chart:

Source: Tradingview.com

In this case, the blue line represents a 21 day moving average. Because the average is based on results from the past, the indicator will always lag behind. For example, when price would suddenly go up, the moving average won't immediately follow.

All other moving averages discussed below look the same on the chart. The only difference is that the line will move in different directions based on the maths behind the used indicators and the amount of days used to determine the average.

Exponential moving average

The EMA gives more weight to the latest closing prices by giving them more value in the equation. EMA is calculated by adding a certain percentage to the latest closing prices:

EMA = (CLOSE (i) * P) + (EMA (i - 1) * (1 - P))

Where:

CLOSE (i) = current period close price.
EMA (i - 1) = value of the Moving Average of a preceding period.
P = the percentage of using the price value.

Smoothed moving average

A smoothed moving average is an exponential moving average with a long lookback period. Older prices are reduced in weight but are never left out in the calculation. Unlike SMA and EMA where prices are removed when they are beyond the selected period. SMMA is a combination of the SMA and EMA. The main advantage is that it smooths out fluctuations in price.

Linear weighted moving average

The LWMA gives the latest price the highest weight and then lineary scales down with each price before that. The result is that the LWMA reacts quicker to changes in price than the SMA or EMA. The formula:

LWMA = ((Pn∗W1)+(Pn−1∗W2)+(Pn−2∗W3)...) / ∑W

Where:

P = Price for the period.
n = The most recent period, n-1 is the prior period, and n-2 is two periods prior.
W = The assigned weight to each period, with the highest weight going first and then descending linearly based on the number of periods being used.

Moving averages are widely used by many traders. Which moving average you need depends on your trading strategy. Common practise is using a combination of multiple periods. For example, the EMA21, EMA50, EMA100 and EMA200. How does that look on a chart:

Source: Tradingview.com

The lowest (purple) line on the chart represents the EMA200 then following up the EMA100, EMA50 and EMA21.

You can use moving averages to determine a trend. The 200 moving average is mostly used as a baseline for determining the current trend:

When the 200 moving average is moving up it is considered a bullish trend.
When the 200 moving average is down it is considered a bearish trend.
When moving averages are flatlined, there is no clear trend so you should look for market structure, consolidation or trend reversals. Depending on how you want to trade.

This is not set in stone. Most trading strategies use multiple moving averages each with different settings. While one strategy might use the EMA20, the other uses the SMA21. There can be hundreds of different variations. Moving averages can also be used as support and resistance. More often than not, prices will bounce on moving averages.

JinkoSolar Holding Company Limited Daily Moving Averages Chart

2.2 Moving Average Convergence/Divergence (MACD)

Shows the momentum of the selected period based on two moving averages.

MACD is a lagging momentum indicator.
Uses two moving averages.
Can show buy or sell signals based on momentum.
Can show overbought. and oversold. levels.

Score

Let's take a look at the Moving Average Convergence/Divergence (MACD) of JinkoSolar Holding Company Limited. The current macd is -0.61263507.

The long score for the Moving Average Convergence/Divergence (MACD) is 3/4.
The longshort score for the Moving Average Convergence/Divergence (MACD) is 2/(-4 +4).

MACD line > signal line: The MACD line is above the signal line, which indicates a bullish signal in the market. This means that the positive momentum is currently stronger than the average momentum, suggesting that buyers are more active than sellers, and there's a higher probability of the Jinkosolar price going up in the near term. +2
MACD < 0: The MACD is below the zero line (centerline), it indicates a bearish signal for Jinkosolar. This means that the short-term moving average is lower than the long-term moving average, signaling negative momentum and suggesting a higher likelihood of the Jinkosolar price continuing to fall in the near future. It indicates that sellers are gaining control, and there is negativism in the market, leading to potential price decreases. -1
Trending up: The MACD line is trending up. This indicates that the short-term moving average is rising faster than the long-term moving average, suggesting positive momentum in the market. This signals that buyers are becoming more active and confident, leading to potential price increases as traders anticipate further gains and are willing to buy at higher prices. +1

JinkoSolar Holding Company Limited Daily Moving Average Convergence/Divergence (MACD) Chart

2.3 Directional Movement Index (DMI)

The DMI is a collection of 3 indicators: +DI (Plus Direction Indicator), -DI (Minus Direction Indicator) and ADX (Average Directional Index). The ADX helps you determine the strength of a trend.

Score

Let's take a look at the Directional Movement Index (DMI) of JinkoSolar Holding Company Limited. The current adx is 14.48.

The long score for the Directional Movement Index (DMI) is 1/7.
The longshort score for the Directional Movement Index (DMI) is 1/(-7 +7).

PLUS_ID > MINUS_DI: The +DI line is above the -DI line. This indicates a bullish signal in the market, as the positive directional movement is currently stronger than the negative directional movement, showing that buyers have the upper hand. Market psychology suggests that traders are optimistic, expecting further price increases, and are more willing to buy Jinkosolar shares, leading to potential upward momentum in its price. +1
PLUS_ID > MINUS_DI && ADX < 25 && ADX trending down: The ADX is below 25 and indicates a weak or no trend. Also, the ADX is declining so there is no trend indication.

JinkoSolar Holding Company Limited Daily Directional Movement Index (DMI) Chart

2.4 Parabolic SAR

Shows the current trend and potential entry and exit signals.

Parabolic SAR (stop and reverse) is a lagging trend indicator.
Shows the current trend.
Shows potential entry signals.
Shows potential exit signals.
Can be used to place trailing stoplosses..

Score

Let's take a look at the Parabolic SAR of JinkoSolar Holding Company Limited. The current sar is 21.06.

The long score for the Parabolic SAR is 1/1.
The longshort score for the Parabolic SAR is 1/(-1 +1).

Close > SAR: The price is above the SAR. It's generally considered a bullish signal. +1

JinkoSolar Holding Company Limited Daily Parabolic SAR Chart

3. Momentum Indicators

3.1 Relative Strength Index (RSI)

Measures the speed and change of price movements.

Leading momentum indicator, meaning the signals are instant.
Ranges between 0 and 100.
Above 70 is considered overbought.
Below 30 is considered oversold.
Above or below 50 can also be used to determine price trend or support and resistance.
RSI divergence looks at a deviation between RSI and price movement. Penketrading automatically calculates RSI divergences.
Can be used in many different ways

Score

Let's take a look at the Relative Strength Index (RSI) of JinkoSolar Holding Company Limited. The current rsi is 52.50. The current phase is Correction in bear market.

The long score for the Relative Strength Index (RSI) is 4/13.
The longshort score for the Relative Strength Index (RSI) is 4/(-13 +13).

Correction in bear market: Extended price decline in a downtrend, significant pullback. Consider reducing exposure, wait for signs of trend reversal.
Trending up: The RSI is trending up. +1

Measures the speed and change of price movements.

There are four types of indicators:

Trend indicators
Momentum indicators
Volatility indicators
Volume indicators

The RSI measures the magnitude of recent price changes to determine if the asset is overbought or oversold.

Overbought (RSI above 70) means that the trading price is above its intrinsic value. This might indicate a sell or short signal.
Oversold (RSI below 30) means that the trading price is below its intrinsic value. This might indicate a buy or long signal.
RSI levels above or below 50 can also be used to determine a trend.
RSI divergence looks at a deviation between RSI and price movement.
Can be used in many different ways.

Original usage

Keep in mind that almost every indicator can be used in different ways. Even beyond the orginal settings. The relative strength index was developed by J. Welles Wilder. Wilder recommended a smoothing period of 14 days. That means a 14 day moving average (read more about this setting below). Another quote from the wikipedia page:

Wilders also considers the RSI 50 line as both support and resistance. I recommend to always read the original settings first before using an indicator. Many traders and websites are using their own version of the indicator which might be confusing.

How you can use RSI (Divergence)

First and foremost, there is no real right or wrong usage of the RSI indicator. You can use it in any way you want. Wilder recommends using a 14 day average but you can make it 50 or 100 if you like. Just keep in mind that using an indicator is just part of a larger trading plan. In other words, it’s not recommended to do any trading or investing based on a single indicator like the RSI.

The RSI is measured on a scale between 0 and 100. From 30 till 0 is considered oversold. and from 70 -100 is overbought. The RSI is a leading indicator, meaning the signals are instant.

I like to use the RSI as a trend\momentum indicator and not as an overbought or oversold indicator. I use the middle (50) as the baseline. When prices go above RSI 50 the trend is bullish and can indicate long positions. When below 50 it is considered bearish and can indicate short positions. Other traders use the 70 and 30 levels as overbought/oversold depending on the used strategy. The RSI indicator looks like this:

Source: Tradingview.com

The general concensus is that an RSI above 70 indicates that the security is overbought. In other words, the price this security is trading for is to high and should come down. So if RSI hits 70 or above this might indicate a sell signal or taking a short position (expecting the price will go down). Although RSI above 70 indicates the security is trading above it's fair value, that does not mean the price will go down.

Use tradingview to add indicators

I highly recommend using tradingview to add indicators to a chart. It has all the indicators you can think off and can add them for free (up to three indicators) to any chart you want. You can see that the levels 30 and 70 are marked with a dotted line. If you want you can remove these lines or give it another colour using Tradingview. You can also adjust the moving average used. You can also find RSI indicators made by the community that include other settings like RSI divergences.

Tradingview

Use Tradingview to (back)test your strategies and add hundreds of indicators created by the community.

View tool on Tradingview.com

RSI divergence

RSI is not only used to determine momentum but can also spot reversals or continuations of the trend. A reversal means that the trend is going in the opposite direction. From bullish to bearish or from bearish to bullish. These reversals can be spotted by looking at the price and the direction of the RSI. When the price is going up but the RSI is going down that means there is a divergence. This is also the case when RSI goes up but price is going down.

There are four types of divergences:

Regular bullish divergence
Regular bearish divergence
Hidden bullish divergence
Hidden bearish divergence

Regular bullish divergence

With a regular bullish divergence, the price is making lower highs but the oscillator (in this case the RSI) is making higher lows. A regular bullish divergence might indicate the end of the current trend. You’ll see regular bullish divergences mostly at the end of a downtrend. But that does not mean that every regular bullish divergence is a trend reversal.

Price is making lower highs
RSI is making higher lows
Indicating bullish reversal (price might go up)

Source: Tradingview.com

Regular bearish divergence

With a regular bearish divergence the price is making higher highs but the oscillator (in this case the RSI) is making lower highs. This might indicate the end of an uptrend.

Price is making higher highs
RSI is making lower highs
Indicating bearish reversal

Source: Tradingview.com

Hidden bullish divergence

With a hidden bullish divergence, the price is making a higher low while the RSI is making a lower low. This might indicate bullish trend continuation.

Price is making higher lows
RSI is making lower lows
Indicating bullish continuation

Source: Tradingview.com

As you have noticed, you can have multiple divergences in a row.

Hidden bearish divergence

With a hidden bearish divergence, price is making lower highs but RSI is making higher highs. This might indicate bearish trend continuation.

Price is making lower highs
RSI making higher highs
Indicating bearish continuation

Source: Tradingview.com

You can find many cheatsheets of RSI divergences online. Search for "RSI divergence overview" and you'll find a lot of examples. You can print these to learn the various types of divergences.

JinkoSolar Holding Company Limited Daily Relative Strength Index (RSI) Chart

3.2 Stochastic Oscillator

Compares a certain price to multiple prices ranging over time.

Leading momentum indicator, meaning the signals are instant.
Used to determine overbought and oversold areas much like the RSI.
Ranges between 0 and 100.
Above 80 is considered overbought.
Below 20 is considered oversold.
Consists of two lines named K and D.
K compares the highest high and lowest low on the selected price range.
The D line is a moving average of the K line.
Can be used to spot divergences

Score

Let's take a look at the Stochastic Oscillator of JinkoSolar Holding Company Limited. The current phase is Correction in bear market.

The long score for the Stochastic Oscillator is 4/6.
The longshort score for the Stochastic Oscillator is 4/(-6 +6).

STOCH > 50: The STOCH %K is above 50. There are more buyers than sellers. +1
STOCH %K line > STOCH %D line: The STOCH %K line is above the STOCH %D line, which indicates a bullish signal in the market. This means that the positive momentum is currently stronger than the average momentum, suggesting that buyers are more active than sellers, and there's a higher probability of the Jinkosolar price going up in the near term. +2
Trending up: The STOCH %K is trending up. +1

JinkoSolar Holding Company Limited Daily Stochastic Oscillator Chart

3.3 Commodity Channel Index (CCI)

Measures the difference between the current price and the historical average price.

Lagging or leading Momentum indicator
When the CCI is above zero, the price is above the historical average
When the CCI is below zero, the price is below the historical average
Used for spotting trends
- If the CCI moves from negative or near zero to positive 100 that might indicate an uptrend
- If the CCI moves from positive or near zero to negative -100 that might indicate a downtrend

Score

Let's take a look at the Commodity Channel Index (CCI) of JinkoSolar Holding Company Limited. The current cci is 38.73.

JinkoSolar Holding Company Limited Daily Commodity Channel Index (CCI) Chart

3.4 Chande Momentum Oscillator (CMO)

Measures the difference between the sum of recent gains and the sum of recent losses. Then divides the result by the sum of all price movements in that period.

Lagging momentum indicator
Ranges between +100 and -100
Considered overbought above +50
Considered oversold below -50
It's possible to add a moving average that acts as a signal line

Score

Let's take a look at the Chande Momentum Oscillator (CMO) of JinkoSolar Holding Company Limited. The current cmo is 19.15.

The long score for the Chande Momentum Oscillator (CMO) is 1/1.
The longshort score for the Chande Momentum Oscillator (CMO) is 1/(-1 +1).

CMO > 0: The CMO is above 0, the momentum of the price is positive, indicating a potential uptrend in the price. +1

JinkoSolar Holding Company Limited Daily Chande Momentum Oscillator (CMO) Chart

3.5 Williams %R

Shows the current price relative to the highest high over the last 14 days.

Lagging momentum indicator
Ranging between 0 and -100
Above -20 is considered overbought
Below -80 is considered oversold
Is prone to give false signals

Score

Let's take a look at the Williams %R of JinkoSolar Holding Company Limited. The current willr is -32.15859031.

The long score for the Williams %R is 0/1.
The longshort score for the Williams %R is 0/(-1 +1).

WILLR between -80 and -20: The Williams %R is between -80 and -20. This indicates that Jinkosolar is trading in a neutral price range, neither oversold nor overbought, suggesting a balanced market condition without any extreme price signals.

JinkoSolar Holding Company Limited Daily Williams %R Chart

4. Volatility Indicators

4.1 Bollinger Bands

Shows if the price is to high or to low relative to an average.

Lagging volatility indicator
Uses 3 bands: one upper, one lower and one in the middle
Works best when the middle band reflects an intermediate trend (MA20).
When the price is moving closer to the upper band, the market might be overbought
When the price is moving closer to the lower band, the market might be oversold

Score

Let's take a look at the Bollinger Bands of JinkoSolar Holding Company Limited.

JinkoSolar Holding Company Limited Daily Bollinger Bands Chart

4.2 Average True Range (ATR)

Measures market volatility

Leading volatility indicator
Can be used to determine stop-loss positions
Calculated by:
- Current high minus the current low
- Current high minus the previous close
- Current low minus the previous close
The larger the range of the candles, the greater the ATR value

Score

Let's take a look at the Average True Range (ATR) of JinkoSolar Holding Company Limited. The current atr is 1.17012049.

JinkoSolar Holding Company Limited Daily Average True Range (ATR) Chart

5. Volume Indicators

5.1 On-Balance Volume (OBV)

Measures market volatility

Leading momentum indicator
Calculation:
- If the closing price is above the previous closing price: OBV = previous OBV + current volume
- If the closing price is below the previous closing price: OBV = previous OBV - current volume
- If the closing price is the same as the previous closing price than the OBV is the same.
Can be used to confirm price trends
Can be used with divergences

Score

Let's take a look at the On-Balance Volume (OBV) of JinkoSolar Holding Company Limited. The current obv is -19,027,009.

JinkoSolar Holding Company Limited Daily On-Balance Volume (OBV) Chart

5.2 Money Flow Index (MFI)

Measures the flow of money in and out of a security

Lagging momentum indicator
Looks like RSI but uses volume as an extra metric (RSI only considers price)
Above 80 is considered overbought
Below 20 is considered oversold
Can be used with divergences

Score

Let's take a look at the Money Flow Index (MFI) of JinkoSolar Holding Company Limited. The current mfi is 39.66.

The long score for the Money Flow Index (MFI) is 0/2.
The longshort score for the Money Flow Index (MFI) is -1/(-2 +2).

MFI < 50: -1

JinkoSolar Holding Company Limited Daily Money Flow Index (MFI) Chart

6. Summary

6.1. Notifications

Type	Notification	Date
Currently no notifications for JinkoSolar Holding Company Limited.

6.2. Trading Signals

Below you will find trading signals as the indicator is commonly used. This doesn't mean you should use it that way. Learn from these, but don't use them blindly. I recommend using at least 4 indicators, 1 from each category: trend, momentum, volatility and volume.

Date	Indicator	Signal
2023-12-05	STOCH	LONG EXIT		The %K line crosses below the %D line.
	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
	WILLR	SHORT ENTRY	LONG CLOSE	-80 crossover to downside
2023-12-07	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2023-12-08	STOCH	LONG EXIT		The %K line crosses below the %D line.
2023-12-11	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2023-12-12	DMI	SHORT ENTRY	LONG CLOSE	The +DI crossed the -DI to the downside. The trend is reversing to a down trend.
	STOCH	LONG EXIT		The %K line crosses below the %D line.
	CCI	SHORT ENTRY	LONG CLOSE	-100 crossover to downside
	WILLR	SHORT ENTRY	LONG CLOSE	-80 crossover to downside
2023-12-13	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2023-12-14	DMI	LONG ENTRY	SHORT CLOSE	The +DI crossed the -DI to the upside. The trend is reversing to an up trend.
	SAR	LONG ENTRY	SHORT CLOSE	The price broke the SAR to the upside.
	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
2023-12-15	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
2023-12-18	MACD	LONG ENTRY	SHORT CLOSE	The MACD line crosses above the signal line.
	STOCH	LONG EXIT		The %K line crosses below the %D line.
2023-12-20	MACD	SHORT ENTRY	LONG CLOSE	The MACD line crosses below the signal line.
	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
2023-12-21	MACD	LONG ENTRY	SHORT CLOSE	The MACD line crosses above the signal line.
	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	CCI	LONG ENTRY	SHORT CLOSE	100 crossover to upside
	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
	BB	SHORT ENTRY	LONG CLOSE	Price closed above the lower band.
	ATR	LONG ENTRY	SHORT CLOSE	Price closed above (close + ATR).
2023-12-26	STOCH	LONG EXIT		The %K line crosses below the %D line.
	BB	SHORT ENTRY	LONG CLOSE	Price closed above the lower band.
2023-12-28	BB	SHORT ENTRY	LONG CLOSE	Price closed above the lower band.
	ATR	LONG ENTRY	SHORT CLOSE	Price closed above (close + ATR).
2024-01-02	ATR	SHORT ENTRY	LONG CLOSE	Price closed below (close - ATR).
2024-01-03	DMI	SHORT ENTRY	LONG CLOSE	The +DI crossed the -DI to the downside. The trend is reversing to a down trend.
	SAR	SHORT ENTRY	LONG CLOSE	The price broke the SAR to the downside
	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
2024-01-04	MACD	SHORT ENTRY	LONG CLOSE	The MACD line crosses below the signal line.
	WILLR	SHORT ENTRY	LONG CLOSE	-80 crossover to downside
2024-01-09	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	CCI	SHORT ENTRY	LONG CLOSE	-100 crossover to downside
2024-01-12	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-01-17	BB	LONG ENTRY	SHORT CLOSE	Price closed below the lower band.
2024-01-18	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-01-19	STOCH	LONG EXIT		The %K line crosses below the %D line.
	MFI	SHORT ENTRY	LONG CLOSE	20 crossover to downside
2024-01-22	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-01-23	SAR	LONG ENTRY	SHORT CLOSE	The price broke the SAR to the upside.
	ATR	LONG ENTRY	SHORT CLOSE	Price closed above (close + ATR).
	MFI	LONG ENTRY	SHORT CLOSE	20 crossover to upside
2024-01-25	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-01-26	WILLR	SHORT ENTRY	LONG CLOSE	-80 crossover to downside
2024-01-29	SAR	SHORT ENTRY	LONG CLOSE	The price broke the SAR to the downside
	CCI	SHORT ENTRY	LONG CLOSE	-100 crossover to downside
2024-01-30	WILLR	SHORT ENTRY	LONG CLOSE	-80 crossover to downside
2024-02-01	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-02-02	STOCH	LONG EXIT		The %K line crosses below the %D line.
	CCI	SHORT ENTRY	LONG CLOSE	-100 crossover to downside
2024-02-05	BB	LONG ENTRY	SHORT CLOSE	Price closed below the lower band.
	ATR	SHORT ENTRY	LONG CLOSE	Price closed below (close - ATR).
2024-02-06	RSI	LONG ENTRY	SHORT CLOSE	30 crossover to upside
	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-02-08	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-02-09	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-02-12	MACD	LONG ENTRY	SHORT CLOSE	The MACD line crosses above the signal line.
	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
2024-02-13	STOCH	LONG EXIT		The %K line crosses below the %D line.
	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
2024-02-14	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
2024-02-15	SAR	LONG ENTRY	SHORT CLOSE	The price broke the SAR to the upside.
	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
2024-02-16	STOCH	LONG EXIT		The %K line crosses below the %D line.
	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
2024-02-22	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-02-26	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-02-27	DMI	LONG ENTRY	SHORT CLOSE	The +DI crossed the -DI to the upside. The trend is reversing to an up trend.
	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	CCI	LONG ENTRY	SHORT CLOSE	100 crossover to upside
	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
2024-02-28	STOCH	LONG EXIT		The %K line crosses below the %D line.
	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
2024-02-29	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
2024-03-01	DMI	SHORT ENTRY	LONG CLOSE	The +DI crossed the -DI to the downside. The trend is reversing to a down trend.
2024-03-04	STOCH	LONG EXIT		The %K line crosses below the %D line.
	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
2024-03-06	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
2024-03-07	CCI	LONG ENTRY	SHORT CLOSE	100 crossover to upside
2024-03-08	DMI	LONG ENTRY	SHORT CLOSE	The +DI crossed the -DI to the upside. The trend is reversing to an up trend.
	STOCH	LONG EXIT		The %K line crosses below the %D line.
	BB	SHORT ENTRY	LONG CLOSE	Price closed above the lower band.
2024-03-14	DMI	SHORT ENTRY	LONG CLOSE	The +DI crossed the -DI to the downside. The trend is reversing to a down trend.
	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
	WILLR	SHORT ENTRY	LONG CLOSE	-80 crossover to downside
	ATR	SHORT ENTRY	LONG CLOSE	Price closed below (close - ATR).
2024-03-18	MACD	SHORT ENTRY	LONG CLOSE	The MACD line crosses below the signal line.
	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-03-20	SAR	SHORT ENTRY	LONG CLOSE	The price broke the SAR to the downside
	CCI	SHORT ENTRY	LONG CLOSE	-100 crossover to downside
	BB	LONG ENTRY	SHORT CLOSE	Price closed below the lower band.
	ATR	SHORT ENTRY	LONG CLOSE	Price closed below (close - ATR).
2024-03-21	STOCH	LONG EXIT		The %K line crosses below the %D line.
	WILLR	SHORT ENTRY	LONG CLOSE	-80 crossover to downside
2024-03-26	RSI	LONG ENTRY	SHORT CLOSE	30 crossover to upside
	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-03-27	ATR	LONG ENTRY	SHORT CLOSE	Price closed above (close + ATR).
2024-03-28	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
2024-04-02	STOCH	LONG EXIT		The %K line crosses below the %D line.
	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
2024-04-03	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-04-05	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-04-08	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-04-09	MACD	LONG ENTRY	SHORT CLOSE	The MACD line crosses above the signal line.
	DMI	LONG ENTRY	SHORT CLOSE	The +DI crossed the -DI to the upside. The trend is reversing to an up trend.
	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
	ATR	LONG ENTRY	SHORT CLOSE	Price closed above (close + ATR).
2024-04-11	STOCH	LONG EXIT		The %K line crosses below the %D line.
	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
	ATR	SHORT ENTRY	LONG CLOSE	Price closed below (close - ATR).
2024-04-12	DMI	SHORT ENTRY	LONG CLOSE	The +DI crossed the -DI to the downside. The trend is reversing to a down trend.
2024-04-15	MACD	SHORT ENTRY	LONG CLOSE	The MACD line crosses below the signal line.
	WILLR	SHORT ENTRY	LONG CLOSE	-80 crossover to downside
2024-04-16	CCI	SHORT ENTRY	LONG CLOSE	-100 crossover to downside
2024-04-18	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-04-24	MACD	LONG ENTRY	SHORT CLOSE	The MACD line crosses above the signal line.
	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
2024-04-25	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
2024-04-26	DMI	LONG ENTRY	SHORT CLOSE	The +DI crossed the -DI to the upside. The trend is reversing to an up trend.
	SAR	LONG ENTRY	SHORT CLOSE	The price broke the SAR to the upside.
	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside

6.3. Candlestick Patterns

JinkoSolar Holding Company Limited Daily Candlestick Chart

Date	Candlestick Pattern

6.4. Technical Score

Let's check the technical score of JinkoSolar Holding Company Limited based on Penke's default Symbol scanner.

Penke's Symbol Scanner

Indicator	Condition		Value
Rsi	Greater than	50	52.502
Ma 20	Greater than	Ma 50	23.371
Ma 50	Greater than	Ma 100	25.034
Ma 100	Greater than	Ma 200	27.827
Open	Greater than	Close	23.210
Total			1/5 (20.0%)

Create your own Symbol Scanner

Get notifications about JinkoSolar Holding Company Limited

I send you an email if I find something interesting about JinkoSolar Holding Company Limited.

JinkoSolar Holding Company Limited Buy, Hold or Sell?

Let's analyse Jinkosolar together

Get notifications about JinkoSolar Holding Company Limited

Quick analysis of Jinkosolar (30 sec.)

What can you expect buying and holding a share of Jinkosolar? (30 sec.)

How much money do you get?

What is your share worth?

+ What do you gain per year?

For what price can you sell your share?

1. Valuation of Jinkosolar (5 min.)

$24.14

$81.84

2. Growth of Jinkosolar (5 min.)

Is Jinkosolar growing?

How much money is Jinkosolar making?

How much money comes from the company's main activities?

3. Financial Health of Jinkosolar (5 min.)

4. Comparing to competitors in the Solar industry (5 min.)

Industry Rankings (Solar)

What can you expect buying and holding a share of Jinkosolar? (5 min.)

What can you expect buying and holding a share of Jinkosolar?

Speculation

Investing

How much money are you going to get?

When do you get the money?

How sure are you?

Linear %

Fundamentals of Jinkosolar

About JinkoSolar Holding Company Limited

Financial Health

Valuation

1.1. Profitability of JinkoSolar Holding Company Limited.

1.1. Profitability

1.1.1. Net Profit Margin

Trends

Compared to industry (Solar)

1.1.2. Return on Assets

Trends

Compared to industry (Solar)

1.1.3. Return on Equity

Trends

Compared to industry (Solar)

1.2. Operating Efficiency of JinkoSolar Holding Company Limited.

1.2. Operating Efficiency

1.2.1. Operating Margin

Trends

Compared to industry (Solar)

1.2.2. Operating Ratio

Trends

Compared to industry (Solar)

1.3. Liquidity of JinkoSolar Holding Company Limited.

1.3. Liquidity

1.3.1. Current Ratio

Trends

Compared to industry (Solar)

1.3.2. Quick Ratio

Trends

Compared to industry (Solar)

1.4. Solvency of JinkoSolar Holding Company Limited.

1.3. Liquidity

1.4.1. Debt to Asset Ratio

Trends

Compared to industry (Solar)

1.4.2. Debt to Equity Ratio

Trends

Compared to industry (Solar)

2. Market Valuation of JinkoSolar Holding Company Limited

2.1. Earnings Per Share

2.1. Price to Earnings Ratio

Trends

Compared to industry (Solar)

JinkoSolar Holding Company Limited
Buy, Hold or Sell?