Jinko Solar Co., Ltd.

SHSE:688223 Stock Report

Market Cap: CN¥56.0b

Jinko Solar Valuation

Is 688223 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

5/6

Valuation Score 5/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of 688223 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

CN¥24.63
Fair Value
77.1% undervalued intrinsic discount
8
Number of Analysts

Below Fair Value: 688223 (CN¥5.63) is trading below our estimate of fair value (CN¥24.6)

Significantly Below Fair Value: 688223 is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 688223?

Key metric: As 688223 is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for 688223. This is calculated by dividing 688223's market cap by their current revenue.
What is 688223's PS Ratio?
PS Ratio0.8x
SalesCN¥68.69b
Market CapCN¥56.03b

Price to Sales Ratio vs Peers

How does 688223's PS Ratio compare to its peers?

The above table shows the PS ratio for 688223 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average4.9x
688472 CSI Solar
1.4x16.74%CN¥61.2b
688396 China Resources Microelectronics
5.8x12.34%CN¥61.1b
002049 Unigroup Guoxin Microelectronics
10.4x18.30%CN¥63.0b
002156 Tongfu MicroelectronicsLtd
2.1x12.36%CN¥55.2b
688223 Jinko Solar
0.8x16.09%CN¥56.0b

Price-To-Sales vs Peers: 688223 is good value based on its Price-To-Sales Ratio (0.8x) compared to the peer average (4.9x).

Price to Sales Ratio vs Industry

How does 688223's PS Ratio compare vs other companies in the CN Semiconductor Industry?

17 CompaniesPrice / SalesEstimated GrowthMarket Cap
Industry Avg.7.5x27.2%
688223 Jinko Solar
 0.8x16.09%US$7.92b
600438 TongweiLtd
1.1x14.25%US$14.30b
688472 CSI Solar
1.4x16.74%US$8.64b
688223 0.8xIndustry Avg. 7.5xNo. of Companies30PS0612182430+
17 CompaniesEstimated GrowthMarket Cap
Industry Avg.7.5x52.3%
688223 Jinko Solar
 0.8x69.39%US$7.92b
No more companies

Price-To-Sales vs Industry: 688223 is good value based on its Price-To-Sales Ratio (0.8x) compared to the CN Semiconductor industry average (7.5x).

Price to Sales Ratio vs Fair Ratio

What is 688223's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

688223 PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio0.8x
Fair PS Ratio3x

Price-To-Sales vs Fair Ratio: 688223 is good value based on its Price-To-Sales Ratio (0.8x) compared to the estimated Fair Price-To-Sales Ratio (3x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst 688223 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentCN¥5.63
CN¥6.61
+17.34%
22.48%CN¥8.28CN¥3.77n/a8
Nov ’26CN¥5.81
CN¥6.29
+8.33%
24.26%CN¥8.28CN¥3.77n/a8
Oct ’26CN¥5.56
CN¥6.14
+10.35%
25.59%CN¥8.28CN¥3.77n/a7
Sep ’26CN¥5.69
CN¥6.18
+8.69%
24.25%CN¥8.28CN¥4.11n/a7
Aug ’26CN¥5.32
CN¥6.02
+13.13%
27.46%CN¥9.10CN¥4.11n/a6
Jul ’26CN¥5.09
CN¥5.92
+16.22%
26.21%CN¥9.10CN¥4.11n/a7
Jun ’26CN¥5.20
CN¥5.92
+13.76%
26.21%CN¥9.10CN¥4.11n/a7
May ’26CN¥5.48
CN¥8.30
+51.49%
33.50%CN¥11.00CN¥4.11n/a7
Apr ’26CN¥6.63
CN¥8.24
+24.34%
29.81%CN¥11.00CN¥4.11n/a9
Mar ’26CN¥6.90
CN¥8.24
+19.47%
29.81%CN¥11.00CN¥4.11n/a9
Feb ’26CN¥6.12
CN¥8.76
+43.16%
31.97%CN¥13.42CN¥4.11n/a10
Jan ’26CN¥7.11
CN¥9.19
+29.25%
28.76%CN¥13.42CN¥4.11n/a9
Dec ’25CN¥8.75
CN¥8.96
+2.44%
30.35%CN¥13.42CN¥4.11n/a8
Nov ’25CN¥9.20
CN¥8.41
-8.55%
30.71%CN¥13.42CN¥4.11CN¥5.818
Oct ’25CN¥8.81
CN¥8.16
-7.34%
30.06%CN¥13.42CN¥4.11CN¥5.568
Sep ’25CN¥7.19
CN¥8.59
+19.47%
29.26%CN¥13.42CN¥4.11CN¥5.699
Aug ’25CN¥7.16
CN¥8.81
+23.09%
25.68%CN¥13.42CN¥5.00CN¥5.329
Jul ’25CN¥7.27
CN¥8.81
+21.23%
25.68%CN¥13.42CN¥5.00CN¥5.099
Jun ’25CN¥8.15
CN¥8.95
+9.78%
24.65%CN¥13.42CN¥5.00CN¥5.209
May ’25CN¥7.57
CN¥9.19
+21.41%
26.33%CN¥13.42CN¥5.00CN¥5.489
Apr ’25CN¥8.38
CN¥10.59
+26.40%
22.87%CN¥13.42CN¥6.30CN¥6.639
Mar ’25CN¥8.82
CN¥10.59
+20.09%
22.87%CN¥13.42CN¥6.30CN¥6.909
Feb ’25CN¥8.00
CN¥10.81
+35.18%
20.16%CN¥13.42CN¥6.30CN¥6.129
Jan ’25CN¥8.86
CN¥13.92
+57.15%
16.07%CN¥17.65CN¥11.36CN¥7.116
Dec ’24CN¥8.88
CN¥13.92
+56.79%
16.07%CN¥17.65CN¥11.36CN¥8.756
Nov ’24CN¥9.20
CN¥13.92
+51.34%
16.07%CN¥17.65CN¥11.36CN¥9.206
CN¥6.61
Fair Value
14.8% undervalued intrinsic discount
8
Number of Analysts

Analyst Forecast: Target price is less than 20% higher than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/11/28 14:59
End of Day Share Price 2025/11/28 00:00
Earnings2025/09/30
Annual Earnings2024/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Jinko Solar Co., Ltd. is covered by 24 analysts. 10 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Alex LiuBNP Paribas
Gary TsangBofA Global Research
Zun ZhuChina International Capital Corporation Limited