JinkoSolar Holding Co., Ltd.
JKS · Semiconductors & Related Devices · EDGAR filings ↗
Reference price $25.00 — last insider sale, 2026-05-13 (estimated from the dated SEC Form 4 price — not a live quote)
Grade
F38Solar-module giant bleeding cash with weak liquidity and elevated leverage.
Strengths
- Maintains manufacturing scale — per 10-K
Risks
- Massive losses and burn — net income -8250% (2nd), FCF -$2.10B (2nd)
- Negative returns — ROE -28.3% (16th)
- Weak liquidity with leverage — current ratio 1.25 (16th), D/E 0.68 (83rd)
Notable findings
- Cash burnNegative free cash flow (-300.8M)
- Fund exitedNotable fund(s) exited this quarter: VANGUARD GROUP INC
- Strong balance sheetStrong balance sheet — $3.5B cash & investments, ~46 quarters of runway
- Notable holderHeld by 5 notable fund(s): STATE STREET CORP, GOLDMAN SACHS GROUP INC, CITADEL ADVISORS LLC +2 more (as of 2026-03-31)
- Insider sellingInsider selling — 3 open-market sale(s) by 3 insider(s) (cluster of 3 insiders, ~$33M, last 6mo) Form 4 ↗
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Return on equity
-28.3%
Return on assets
-3.7%
ROIC
-26.7%
Revenue growth (QoQ)
4.3%
Debt / equity
0.7×
Current ratio
1.3×
Free cash flow
-$301M
Tangible book value
$2.2B
Cash & investments
$3.5B
Cash runway
46q
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-05-13 | Markscheid Stephen | Sell | 2.0K | $25.00 |
| 2026-05-13 | Markscheid Stephen | Buy | 2.0K | $25.00 |
| 2026-05-13 | Siew Wing Keong | Sell | 16K | $26.11 |
| 2026-05-13 | LI XIANHUA | Sell | 1.3M | $25.53 |
| 2026-05-01 | Li Mengmeng | Grant | 2.9K | — |
| 2026-05-01 | Cao Haiyun | Grant | 354K | — |
| 2026-05-01 | LI XIANHUA | Grant | 771K | — |
| 2026-05-01 | LI XIANDE | Grant | 1.8M | — |
All non-derivative Form 4 activity (SEC), newest first.
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 20-F | 2026-04-29 | 2025-12-31 | 0001104659-26-050737 ↗ |
| 20-F | 2025-04-29 | 2024-12-31 | 0001410578-25-000970 ↗ |
| 20-F | 2024-04-25 | 2023-12-31 | 0001104659-24-051665 ↗ |
| 20-F | 2023-04-28 | 2022-12-31 | 0001410578-23-000828 ↗ |
| 20-F | 2022-04-28 | 2021-12-31 | 0001410578-22-001053 ↗ |
| 20-F | 2021-04-28 | 2020-12-31 | 0001104659-21-056532 ↗ |
| 20-F | 2020-04-24 | 2019-12-31 | 0001104659-20-050992 ↗ |
| 20-F | 2019-04-10 | 2018-12-31 | 0001144204-19-019055 ↗ |
| 20-F | 2018-04-24 | 2017-12-31 | 0001144204-18-022061 ↗ |
| 20-F | 2017-03-29 | 2016-12-31 | 0001144204-17-017271 ↗ |
| 20-F | 2016-04-20 | 2015-12-31 | 0001144204-16-095266 ↗ |
| 20-F | 2015-04-16 | 2014-12-31 | 0001144204-15-023130 ↗ |