BANGALORE (Reuters) - JinkoSolar Holding Co reported a higher-than-expected quarterly profit as its expansion in newer markets boosted sales volumes, and the Chinese solar company expects sales growth to hold up in spite of a gloomy market.
JinkoSolar's results are a rare bright spot in an industry that suffered in the first half because of solar energy subsidy cuts in major markets such as Germany and Italy.
A comparatively healthy second-quarter gross margin of 25.4 percent at JinkoSolar underscores the fact China-based companies are increasingly beating foreign rivals in managing costs.