Jinkosolar Business Factsheet

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Shipment (MW) Second Quarter 2019 Highlights 2019 like many other years has been a challenging one, and JinkoSolar is keeping a very close eye on market developments. Competition remains intense with many industry peers acting aggressively in the market. JinkoSolar, however, remains in a strong position. In the first six months, the company has achieved two record breaking quarters with 6 gigawatts (GW) of module deliveries and a doubling of mono module shipments compared to last year. Recently, JinkoSolar announced its financial results for Q2 2019. Total solar module shipments were 3.386 GW, a year-over-year increase of 21.2% and a sequential increase of 11.5%. 2019 Q1 2019 Q2 2018 Q2 2019 Q2 Revenues (RMB Billion) Total revenues were RMB 6.91 billion (US$1.01 billion), an increase of 18.7% from Q1 2019 and an increase of 14.1% from Q2 2018. Gross margin was 16.5%, up from 12.0% during the same period in 2018. Net income attributable to the Company’s ordinary shareholders was RMB 125.4 million (US$18.3 million) in Q2 2019, compared with RMB 40.2 million in Q1 2019 and RMB 99.0 million in Q2 2018. 2019 Q1 2019 Q2 By the end of 2019, in-house annual silicon wafer, solar cell, and solar module production capacity will reach 15.0 GW, 10.5 GW, and 16.0 GW, respectively, including 11.5 GW of mono wafer capacity, 9.7 GW of PERC cell capacity, and 800 MW of N-type cell capacity. Leshan, the company’s new 5.0 GW mono wafer production capacity is expected to begin production in Q3 2019 and reach full capacity by Q4 2019. A second 5.0 GW phase will result in 16.5 GW of mono wafer capacity by first half of 2020. 2018 Q2 2019 Q2 Gross Margin 2019 Q1 2019 Q2 2018 Q2 2019 Q2 Capacity (MW) Net Income (RMB Million) 16,000 14,000 12,000 10,000 8,000 5,000 4,000 3,000 6,500 5,000 4,000 8,000 8,000 5,000 9,700 10,800 7,000 16,000 15,000 10,500 2019 Q1 2019 Q2 2,000 1,000 0 2016 2017 2018 2019 (est.) Wafer Cell Module 2018 Q2 2019 Q2
Third Quarter and Full Year 2019 Guidance For Q3 2019, the Company expects total solar module shipments to be in the range of 3.2 GW to 3.5 GW. Total revenue for the third quarter is expected to be in the range of US $980 million to US $1.07 billion. Gross margin for the third quarter is expected to be between 18% and 20% with good order visibility in the second half. For the full year 2019, the Company estimates total solar module shipments to be in the range of 14.0 GW to 15.0 GW. 5,000 4,500 Shipment (MW) 20% Gross Margin (%) 4,000 3,500 3,000 2,000 19% 18% 17% 1,000 16% 0 2019 Q1 2019 Q2 2019 Q3 (est.) 2019 Q4 (est.) 0 2019 Q1 2019 Q2 2019 Q3 (est.) Key Achievements The Company has accelerated the transition of its product portfolio toward high efficiency mono, expecting to reach 70% mono in 2019. This transition, including 16.5 GW of mono wafer capacity by Q2 2020, will strengthen the Company’s vertical integration and optimize the cost structure. The Company is matching the market with new products that customers demand. This is evident considering over 7 GW of pre-orders of Cheetah and Swan modules in the past 12 months. The next generation of module technology is on its way with pilot production and certification process ongoing. The number of customers has grown steadily with a cumulative 3600+ worldwide by Q2 2019. 2016 2017 2018 2019 Q2
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