Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of Chinese solar manufacturer JinkoSolar (NYSE:JKS) jumped as much as 15% today after reporting a surprise quarterly profit.

So what: Shipments of solar modules rose 44.5% from the first quarter to 489.2 MW, and revenue jumped 51.7% to $287.6 million. Gross margin leapt to 17.7% and net income was $8 million, or $0.36 per share. Management also increased full-year shipment guidance to 1.5 GW-1.7 GW from a previous range of 1.2 GW-1.5 GW.  

Now what: Management also said there was a rush to buy and install solar panels in Europe before tariffs were put in place, but now that has subsided since a trade agreement was reached. The company is also benefiting from a growing systems business, which comes with higher margins than modules. The company's backlog is approaching 700 MW; of that, 200 MW-300 MW will be completed this year. Don't think that all Chinese solar manufacturers will be reporting profits this quarter because JinkoSolar is in a better strategic position, both from a business and balance sheet standpoint, than its competition.

Interested in more info on JinkoSolar? Add it to your watchlist by clicking here.