Solar Giant Jinko’s Profit Jumps 325% as Price Cuts Spur Demand

(Bloomberg) — Jinko Solar Co., one of the world’s largest panel producers, reported first-half profit surged 325% as lower raw materials costs helped the sector cut prices and spurred demand.

Net income jumped to 3.84 billion yuan ($530 million) in the six months to June 30 from 905 million yuan in the same period a year earlier, the producer said Monday. China’s world-beating solar installations are already outpacing last year’s record, while a wave of new production capacity has lowered costs of polysilicon, a key material in panels.