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CONSOLIDATED STATEMENTS OF CASH FLOWS
¥ in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2023
USD ($)
Dec. 31, 2023
CNY (¥)
Dec. 31, 2022
CNY (¥)
Dec. 31, 2021
CNY (¥)
Cash flows from operating activities:        
Net income $ 908,822 ¥ 6,452,554 ¥ 1,565,139 ¥ 955,572
Adjustments to reconcile net income to net cash provided by operating activities:        
Share-based compensation charge 121,501 862,642 1,000,869 9,884
Change in fair value of foreign exchange forward contracts (2,546) (18,079) 13,818 104,643
Change in fair value of foreign exchange options (10,466) (74,307) 4,163 (18,809)
Change in fair value of convertible senior notes 4,393 31,188 12,083 (327,762)
Change in fair value of call option 0 0 0 136,121
Change in fair value of short term investments 158 1,125 0 0
Change in fair value of financial liability 112 793    
Deferred income taxes (119,073) (845,403) (320,673) (262,370)
Change in fair value of long-term investment (31,194) (221,473) (101,871)  
Income from licensed patents whose consideration net off licensed patents (Note 5) (7,124) (50,581)    
Depreciation of property, plant and equipment 1,106,531 7,856,000 2,585,018 1,603,786
Amortization of right-of-use assets 24,314 172,625 129,869 135,791
Depreciation of project assets 0 0 0 32,559
Amortization of land use rights 5,445 38,656 27,353 18,031
Amortization of intangible assets 17,147 121,742 17,324 11,904
Amortization of guarantee liability 0 0 0 (6,364)
Inventory write-down 402,693 2,859,000 1,819,166 823,273
Provision for expected credit loss 25,744 183,000 285,394 82,427
Loss on disposal of property, plant and equipment 15,187 107,829 248,500 350,336
Loss on disposal of intangible assets 1,958 14,000 0 0
Amortization of deferred losses related to sale-leaseback transactions 0 0 0 13,424
Impairment of long-lived assets 90,143 640,004 373,732 273,713
Equity in loss/(income) of affiliated companies (31,363) (222,674) (193,708) (59,809)
Gain on disposal of investment in subsidiaries 0 0 (14,232) 0
Exchange (gain)/loss, net (132,127) (938,092) (1,025,891) 355,499
Changes in operating assets and liabilities (net of impact of disposition):        
Increase in accounts receivable - third parties (959,045) (6,809,123) (8,610,986) (3,666,406)
(Increase)/decrease in accounts receivable - related parties (23,127) (164,200) (115,300) 364,677
(Increase)/decrease in notes receivable - third parties 352,294 2,501,251 (5,006,954) (638,398)
(Increase)/decrease in notes receivable - a related party 39,668 281,641 (282,824) 33,001
Increase in advances to suppliers - third parties (249,469) (1,771,208) (1,706,688) (856,574)
Increase in advances to suppliers - a related party 7,085 50,304 (56,860) 0
Increase in inventories (540,200) (3,835,365) (6,053,218) (5,698,689)
Increase in long term payable 25,287 179,532 0 0
(Increase)/decrease in lease liabilities 3,025 21,474 (22,365) (50,426)
(Increase)/decrease in other receivables - related parties (604) (4,287) (6,248) 6,408
Increase in prepayments and other current assets (30,967) (219,861) (277,283) (208,125)
Decrease in other assets - related parties     3,417 104,027
(Increase)/decrease in other assets - third parties 8,836 62,735 621,880 (139,877)
Increase in land use right 0 0 (473,806) (347,126)
Increase in accounts payable - third parties 780,705 5,542,926 3,588,939 2,644,118
Increase/(decrease) in accounts payable - related parties 2,992 21,244 (15,863) 1,750
Increase in accrued payroll and welfare expenses 115,774 821,986 795,140 245,737
Increase in deferred revenue       200,000
Increase/(decrease) in advances from - third parties (320,382) (2,274,683) 3,289,191 3,533,231
Increase/(decrease) in advances from - a related party (59) (417) 3,829 0
Increase in income tax payables 48,430 343,849 522,879 141,136
Increase in warranty cost - non current 101,854 723,150 0 0
Increase in other payables and accruals - third parties 194,225 1,378,975 1,572,549 599,618
Increase/(decrease) in other payables and accruals - a related party 794 5,635 3,734 (69,285)
Net cash provided by / (used in) operating activities 1,947,371 13,826,124 (5,800,784) 430,646
Cash flows from investing activities:        
Maturity of restricted short-term investments 2,352,094 16,699,633 8,494,069 10,501,200
Maturity of short-term investments     150,000 723,000
Maturity of restricted long-term investments 194,183 1,378,680 1,232,960 1,648,698
Proceeds from disposal of property, plant and equipment and land use right 66,419 471,569 714,176 20,458
Proceeds from pro rata decrease in an equity investment 1,415 10,048 94,284  
Proceeds from disposal of an equity investment     15,000  
Net of cash disposed of, cash payment from, disposal of subsidiaries     (91,334)  
Purchase of property, plant and equipment (2,153,542) (15,289,935) (12,251,348) (8,653,859)
Cash paid for investment in affiliates     (615,100) (315,000)
Purchase of intangible assets (27,948) (198,682) (42,415) (32,261)
Purchase of restricted short-term investments (2,146,498) (15,239,924) (8,177,423) (13,362,480)
Purchase of restricted long-term investments (216,369) (1,536,198) (1,406,943) (1,464,202)
Purchase of short-term investments (144,343) (1,024,820)   (303,000)
Proceeds from dividends from associates 17,939 127,363   23,213
Purchase of land-use right (50,986) (361,997)    
Acquisition of a subsidiary, net of cash acquired 5,126 36,398    
Cash paid for investment in equity securities (38,353) (272,305) (227,000) (95,000)
Redemption of available-for-sales securities 14,859 105,500    
Loan to third party     (23,459)  
Deposits provided for an equity investment     (37,854)  
Purchase of available-for-sale securities (9,155) (65,000) (100,000)  
Net cash used in investing activities (2,135,159) (15,159,670) (12,272,387) (11,309,233)
Cash flows from financing activities:        
Proceeds from exercise of call option       621,059
Proceeds from issuance of ordinary shares       641,065
Subsidiary's offering of its equity interests     9,770,000  
Cash payment for transaction costs of Jiangxi Jinko's offering     (47,148)  
Settlement of non-controlling interests     5,182  
Cash payment for finance lease as lessee (39,555) (280,833) (216,722) (286,292)
Proceeds from exercise of share options   0 5,024 10,185
Payment of deposit for finance lease as lessee       (4,257)
Capital contributions from non-controlling interest holder 1,450 10,292 17,000  
Proceeds from bank borrowings 2,782,333 19,754,288 29,663,730 30,445,781
Repayment of borrowings (2,932,759) (20,822,295) (27,624,208) (24,280,437)
Increase/(decrease) in notes payable - related party (20,071) (142,500) 419,500  
Increase in notes payable - third party 733,702 5,209,209 8,132,100 2,737,347
Payment of Jiangxi Jinko's dividend to non-controlling interest holders (51,870) (368,275) (95,172)  
Proceeds from issuance of Jiangxi Jinko's convertible notes 665,650 4,726,048    
Issuance cost paid for issuance of Jiangxi Jinko's convertible notes (4,492) (31,891)    
Cash payment for dividend (78,818) (559,599)    
Proceeds from financial liabilities measured at FVPL 116,979 830,540    
Borrowings from government background funds 91,551 650,000   2,133,400
Repurchase of shares (11,167) (79,282)    
Repurchase of ordinary shares of Jiangxi Jinko (42,266) (300,087)    
Net cash provided by financing activities 1,217,046 8,640,904 20,018,922 12,017,851
Effect of foreign exchange rate changes on cash, cash equivalents, and restricted cash 119,573 848,969 227,957 (116,790)
Net increase in cash, cash equivalents, and restricted cash 1,148,831 8,156,327 2,173,708 1,022,474
Cash, cash equivalents, and restricted cash, beginning of the year 1,587,481 11,270,954 9,097,246 8,074,772
Cash, cash equivalents, and restricted cash, end of the year 2,736,275 19,427,281 11,270,954 9,097,246
Supplemental disclosure of cash flow information        
Cash paid for income tax 251,249 1,783,845 400,338 157,366
Cash paid for interest expenses (net of amounts capitalized) 147,208 1,117,871 1,072,812 801,873
Supplemental disclosure of non-cash investing and financing cash flow information        
Purchases of property, plant and equipment included in payables 1,183,746 8,404,479 5,674,455 2,756,446
Proceeds from exercise of share options received in subsequent period       1,169
Receivables related to disposal of Property, plant and equipment and land use right 12,608 89,519 ¥ 378,900 111,804
Offset of receivables with payables for mutual patent licensing 7,124 50,581    
Conversion of convertible senior notes to ordinary shares (34,830) (247,290)   ¥ (340,330)
Jinko Solar Co., Ltd. ("Jiangxi Jinko")        
Cash flows from financing activities:        
Proceeds from exercise of share options $ 6,379 ¥ 45,289