JKS vs UCAR
JinkoSolar Holding Co. Ltd. and U Power Ltd., side by side — 6 fiscal years reported in CNY, drawn from SEC filings.
Most recent reported year
| Metric | JKS | UCAR |
|---|---|---|
| Revenue | CNY 65.5B | CNY 41.1M |
| Net income | CNY -4.4B | CNY -68.7M |
| Gross margin | 2.2% | 36.3% |
| Net margin | −10.9% | −195.7% |
| Return on equity | −25.0% | −24.4% |
| Diluted EPS | −CNY 21.33 | −CNY 15.05 |
| Dividend / share | · | · |
| Payout ratio | · | · |
| Free cash flow | CNY -2.1B | CNY -70.4M |
| Equity | CNY 15.7B | CNY 271.0M |
| Net debt / equity | −0.59× | −0.01× |
| Current ratio | 1.25× | 1.80× |
| Revenue CAGR 5y | 13.3% | 94.9% |
| Profit CAGR 5y | · | · |
JKS bills 1592.6× the revenue of UCAR, and both closed the last reported year at a loss.
The stronger figure of the pair is set in bold. That is arithmetic, not a recommendation — this page does not pick a winner. "·" marks a figure not available in our data.
6 years side by side
| Fiscal year | JKS | UCAR |
|---|---|---|
| FY2025 | CNY 65.5B | CNY 41.1M |
| FY2024 | CNY 92.3B | CNY 44.3M |
| FY2023 | CNY 118.7B | CNY 19.8M |
| FY2022 | CNY 83.1B | CNY 7.8M |
| FY2021 | CNY 40.8B | CNY 8.0M |
| FY2020 | CNY 35.1B | CNY 1.5M |
Bottom line
| Fiscal year | JKS | UCAR |
|---|---|---|
| FY2025 | CNY -4.4B | CNY -68.7M |
| FY2024 | CNY 54.5M | CNY -47.9M |
| FY2023 | CNY 3.4B | CNY -19.3M |
| FY2022 | CNY 620.5M | CNY -45.9M |
| FY2021 | CNY 721.0M | CNY -41.4M |
| FY2020 | CNY 230.4M | CNY -5.5M |
6 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | +CNY 65,456,521,000 | JKS |
| FY2024 | +CNY 92,212,012,000 | JKS |
| FY2023 | +CNY 118,658,827,000 | JKS |
| FY2022 | +CNY 83,119,500,000 | JKS |
| FY2021 | +CNY 40,818,511,000 | JKS |
| FY2020 | +CNY 35,127,995,000 | JKS |
JKS has reported the higher revenue in every one of these 6 fiscal years. The gap has widened since the earliest year compared.
6 of 17 comparable fiscal years — a year missing data on either side is not counted.
6 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | +184.8 pp | JKS |
| FY2024 | +127.3 pp | JKS |
| FY2023 | +134.3 pp | JKS |
| FY2022 | +741.6 pp | JKS |
| FY2021 | +614.9 pp | JKS |
| FY2020 | +447.0 pp | JKS |
JKS has kept the higher net margin in every one of these 6 fiscal years.
6 of 17 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
UCAR's net margin has been more volatile than JKS's over the 6 comparable fiscal years — 241.0 percentage points of standard deviation against 5.1.
6 of 17 comparable fiscal years — a year missing data on either side is not counted.
Year by year
JKS led in net margin in every one of the 6 comparable fiscal years — a structural lead, not a recent swing.
6 of 17 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
JKS's return on equity has been more volatile than UCAR's over the 5 comparable fiscal years — 14.4 percentage points of standard deviation against 6.0.
5 of 17 comparable fiscal years — a year missing data on either side is not counted.
Year by year
The lead in return on equity changed hands between JKS and UCAR over these 5 fiscal years — JKS led in 4 and UCAR in 1.
5 of 17 comparable fiscal years — a year missing data on either side is not counted.