UPDATE: JinkoSolar Posts Q4 Profit

JinkoSolar Holding Co JKS posted a profit in the fourth quarter. JinkoSolar swung to a quarterly profit of CNY164.3 million ($27.1 million) or CNY1.47 (24 cents) per American Depositary Share (ADS), versus a year-ago loss of CNY761.1 million, or CNY8.58 per ADS. Excluding special items, it earned CNY1.95 (32 cents) per ADS. Its revenue climbed 87% to CNY2.19 billion ($361.4 million). However, analysts were expecting revenue of $347 million. Its total operating expenses declined 64% to CNY278.5 million ($46 million), while gross margin rose to 24.7% from 3.8%. JinkoSolar shares gained 2.08% to $33.40 in pre-market trading.