JinkoSolar posts sixth straight quarterly loss on low prices

April 10 Wed Apr 10, 2013 8:04am EDT

April 10 (Reuters) - Chinese solar company JinkoSolar Holding Co Ltd reported its sixth straight quarterly loss due to a continued sharp decline in solar panel prices.

The loss of subsidies in its top market, Europe, and rapid manufacturing capacity expansion in China have contributed to a 66 percent decline in panel prices in the last two years.

Solar panels, which cost as much as $3.50 per watt in 2005, are now selling at about 70 cents per watt.

JinkoSolar's net loss widened to $122.2 million, or $5.51 per American depository share (ADS), in the fourth quarter, from $58.3 million, or $2.58 per ADS, a year earlier.

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

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