SHANGHAI, May 18, 2018/PRNewswire/ -- JinkoSolar Holding Co., Ltd. (NYSE: JKS) (the "Company," or "JinkoSolar"), a global leader in the solar photovoltaic industry, today announced that the 60P version of its P-type PV module peak power broke the world record again with power exceeding 370w and the N-type PV module peak power reaching 378.6w. Both records were certified by the TUV Rheinland (Shanghai) Co., Ltd.

P-type mono modules contain JinkoSolar's world record high efficiency cells. These cells combined with low electricity loss technology, which reduces the module internal resistance and improves its fill factor, allowing peak power to exceed 370W. N-type dual glass modules, leverage passivating contact technology achieve high efficiency with front-side peak power reaching 378.6W. With its excellent bifacial factor, this N-type module can improve outdoor power output per unit dramatically.

Dr. Jin Hao, Vice President of JinkoSolar commented, "Every technological breakthrough results from a strong pioneering spirit and constant search for excellence. Companies with strong independent innovation capabilities are able to grasp opportunities in fiercely competitive markets and establish leadership. JinkoSolar always applies advanced technologies to large-scale applications rapidly to accelerate the popularization of PV applications."

About JinkoSolar Holding Co., Ltd.

JinkoSolar (NYSE: JKS) is a global leader in the solar industry. JinkoSolar distributes its solar products and sells its solutions and services to a diversified international utility, commercial and residential customer base in China, the United States, Japan, Germany, the United Kingdom, Chile, South Africa, India, Mexico, Brazil, the United Arab Emirates, Italy, Spain, France, Belgium, and other countries and regions. JinkoSolar has built a vertically integrated solar product value chain, with an integrated annual capacity of 8 GW for silicon ingots and wafers, 5 GW for solar cells, and 8 GW for solar modules, as of December 31, 2017.

JinkoSolar has over 12,000 employees across its 8 productions facilities globally, 16 oversea subsidiaries in Japan (2), Singapore, India, Turkey, Germany, Italy, Switzerland, United States, Canada, Mexico, Brazil, Chile, Australia, South Africa and United Arab Emirates, and global sales teams in United Kingdom, Bulgaria, Greece, Romania, Jordan, Saudi Arabia, Egypt, Morocco, Ghana, Kenya, Costa Rica, Colombia, Panama and Argentina.

To find out more, please see: www.jinkosolar.com

Safe Harbor Statement

This press release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends, "plans," "believes," "estimates" and similar statements. Among other things, the quotations from management in this press release and the Company's operations and business outlook, contain forward-looking statements. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Further information regarding these and other risks is included in JinkoSolar's filings with the U.S. Securities and Exchange Commission, including its annual report on Form 20-F. Except as required by law, the Company does not undertake any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.

For investor and media inquiries, please contact:

In China:

Mr. Sebastian Liu
JinkoSolar Holding Co., Ltd.
Tel: +86 21-5183-3056
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

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SOURCE JinkoSolar Holding Co., Ltd.

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SHANGHAI, May 9, 2018 /PRNewswire/ -- JinkoSolar Holding Co., Ltd. (NYSE: JKS) (the "Company," or "JinkoSolar"), a global leader in the solar photovoltaic industry, today announced that its P-type monocrystalline cell broke the world record again with efficiency hitting 23.95% during certification testing done by the Photovoltaic and Wind Power Systems Quality Test Center at the Chinese Academy of Sciences (CAS).

P-type mono wafer technology is a contributor, with the highly doped and low defect wafers providing excellent bulk quality. The continued gain in efficiency is a result of the further optimization of selective emitter (SE) formation, silicon oxide passivation and the rear side passivation. JinkoSolar's unique light-capturing technology uses black silicon and the multi-layer ARC technology reduces the front side reflectivity of cells to be lower than 0.5%, which ensures the growth of the short-circuit current. Meanwhile, an advanced grid design and a new type of screen-printing paste are used to reduce the series resistance and the metal / silicon interface compound probability as a result of promotion of solar cell fill factor.

Mr. Kangping Chen, CEO of JinkoSolar, commented, "This recent technical breakthrough is a combination of several our latest technologies. In particular, the introduction of novel passivation and selective contact technology have successfully broken the technical bottleneck created by traditional PERC technology and represents a significant step forward for our P type solar cells with their previous efficiency record of 23.45% in 2017. We will continue to allocate resources towards innovating new and high efficiency solar technologies and their application to the market as we continue to provide the most reliable and highest efficiency products."

About JinkoSolar Holding Co., Ltd.

JinkoSolar (NYSE: JKS) is a global leader in the solar industry. JinkoSolar distributes its solar products and sells its solutions and services to a diversified international utility, commercial and residential customer base in China, the United States, Japan, Germany, the United Kingdom, Chile, South Africa, India, Mexico, Brazil, the United Arab Emirates, Italy, Spain, France, Belgium, and other countries and regions. JinkoSolar has built a vertically integrated solar product value chain, with an integrated annual capacity of 8 GW for silicon ingots and wafers, 5 GW for solar cells, and 8 GW for solar modules, as of December 31, 2017.

JinkoSolar has over 12,000 employees across its 8 productions facilities globally, 16 oversea subsidiaries in Japan (2), Singapore, India, Turkey, Germany, Italy, Switzerland, United States, Canada, Mexico, Brazil, Chile, Australia, South Africa and United Arab Emirates, and global sales teams in United Kingdom, Bulgaria, Greece, Romania, Jordan, Saudi Arabia, Egypt, Morocco, Ghana, Kenya, Costa Rica, Colombia, Panama and Argentina.

To find out more, please see: www.jinkosolar.com

Safe Harbor Statement

This press release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends, "plans," "believes," "estimates" and similar statements. Among other things, the quotations from management in this press release and the Company's operations and business outlook, contain forward-looking statements. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Further information regarding these and other risks is included in JinkoSolar's filings with the U.S. Securities and Exchange Commission, including its annual report on Form 20-F. Except as required by law, the Company does not undertake any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.

For investor and media inquiries, please contact:

In China:

Mr. Sebastian Liu
JinkoSolar Holding Co., Ltd.
Tel: +86 21-5183-3056
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

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SHANGHAI, March 20, 2018 /PRNewswire/ -- JinkoSolar Holding Co., Ltd. (NYSE: JKS) (the "Company," or "JinkoSolar"), a global leader in the solar PV industry, today announced that in cooperation with Asunim Turkey, a leading PV project developer and EPC company has completed the largest solar power plant in the Aegean region. Asunim is currently one of the leading EPC companies in Turkey and has so far concluded projects of 140MW with a separate and clear structure committed for long-term O&M commitments. The dedicated international engineering team of Asunim has a long track record of successful systems design and implementation, using cutting-edge 3D modelling and simulation software to correctly elaborate extremely important shading and counter slope calculations.

The power plant in Manisa, Turkey consists of two separate sites that have an outcome of 40.3 MW, built in parallel. One of 19.7MW and the other of 20.6 MW. Both are located in Manisa, Turkey. The systems feature JinkoSolar high-efficiency (PID free) solar modules and REFUsol 40K string inverters operating without the need for fan cooling and with full IP65 protection against humidity and dust. The German company, Solar-Log was the choice for the SCADA system. Operation and Maintenance activities will be covered by Maxima Energy, affiliate but independent O&M Company of Asunim.

"Installing a project on a flat terrain is easier when compared to sites with different slopes. In order to get the highest yield several different studies and calculations were made for this challenging project." comments managing partner of Asunim Turkey, Mr. Umut Gürbüz .

"We are extremely pleased to see this contract as an outcome of our steadily growing successful partnership with Asunim Turkey over the last years. Asunim Turkey, as a trusted local partner, shares and follows the same highest product and service quality levels that we do also apply within Jinko Solar globally which makes us stronger and helps us to maintain our leadership position in the market.'' adds Mr. Gener Miao, Vice President Global Sales and Marketing of JinkoSolar.

About JinkoSolar Holding Co., Ltd.

JinkoSolar (NYSE: JKS) is a global leader in the solar industry. JinkoSolar distributes its solar products and sells its solutions and services to a diversified international utility, commercial and residential customer base in China, the United States, Japan, Germany, the United Kingdom, Chile, South Africa, India, Mexico, Brazil, the United Arab Emirates, Italy, Spain, France, Belgium, and other countries and regions. JinkoSolar has built a vertically integrated solar product value chain, with an integrated annual capacity of 8 GW for silicon ingots and wafers, 5 GW for solar cells, and 8 GW for solar modules, as of December 31, 2017.

JinkoSolar has over 15,000 employees across its 8 productions facilities globally, 16 oversea subsidiaries in Japan (2), Singapore, India, Turkey, Germany, Italy, Switzerland, United States, Canada, Mexico, Brazil, Chile, Australia, South Africa and United Arab Emirates, and global sales teams in United Kingdom, Bulgaria, Greece, Romania, Jordan, Saudi Arabia, South Africa, Egypt, Morocco, Ghana, Kenya, Costa Rica, Colombia, Panama and Argentina.

To find out more, please see: www.jinkosolar.com

About Asunim Yenilenebilir Enerji Teknolojileri İnş. Müh. San. Tic. Ltd:
Asunim is based in Ankara, Turkey and operates as a consultant, project developer and EPC and O&M company with focus on project legalization, engineering, component supply and the execution of photovoltaic power plants in the Turkish market and greater region. It belongs to the Asunim group with current further subsidiaries in Portugal, Spain, Dubai and the United Kingdom, accumulating a current track record of 850MW.
www.asunim.co

About Maxima Enerji Sistemleri Teknik Servis Ve Taahhüt Ticaret A.Ş.:
Maxima is based in Ankara, Turkey and operates as an O&M company with focus on PV project operation and maintenance of Asunim's own EPC portfolio and third-party system customers in the Turkish market and greater region. It belongs to the Asunim group. Many years of experience flow into Maxima fine-tuning and detecting errors, leading to drastic increases of energy yield on existing solar power plants.
www.maximaenerji.com.tr

Safe Harbor Statement

This press release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends, "plans," "believes," "estimates" and similar statements. Among other things, the quotations from management in this press release and the Company's operations and business outlook, contain forward-looking statements. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Further information regarding these and other risks is included in JinkoSolar's filings with the U.S. Securities and Exchange Commission, including its annual report on Form 20-F. Except as required by law, the Company does not undertake any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.

For investor and media inquiries, please contact:
In China:
Mr. Sebastian Liu
JinkoSolar Holding Co., Ltd.
Tel: +86 21-5183-3056
Email: This email address is being protected from spambots. You need JavaScript enabled to view it. 

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SOURCE JinkoSolar Holding Co., Ltd.

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JUNO BEACH, Fla. and SHANGHAI, March 30, 2018 /PRNewswire/ -- Two global solar energy leaders, U.S.-based NextEra Energy, Inc. (NYSE: NEE) and China-based JinkoSolar Holding Co., Ltd. (NYSE: JKS), today announced one of the largest solar panel supply deals in history.

NextEra Energy, Inc. logo. (PRNewsFoto/NextEra Energy, Inc.)

NextEra Energy announced that it is the counterparty to a major supply agreement that was announced by JinkoSolar in January. The companies amended the agreement this month, and JinkoSolar will supply NextEra Energy with up to 2,750 megawatts of high-efficiency solar modules – roughly 7 million solar panels – over approximately four years.

In conjunction with this agreement, JinkoSolar is opening its first U.S. factory in Jacksonville, Florida, which is expected to create more than 200 direct jobs in Florida and support hundreds of additional local jobs in shipping and other related industries.

"As NextEra Energy continues to invest heavily in new solar projects across the country, we're thrilled to have the opportunity to buy cost-effective, reliable solar panels made here in America. JinkoSolar shares our commitment to delivering affordable clean energy solutions, and we are pleased to welcome them to our home state of Florida," said Jim Robo, NextEra Energy's chairman and CEO.

"It's exciting to know that solar panels built in Florida will be helping power FPL customers in the not-too-distant future," said Eric Silagy, president and CEO of Florida Power & Light Company, which currently operates more than 930 megawatts of solar capacity in Florida, including 14 solar power plants. Over the next decade, FPL plans to more than quadruple its current solar capacity to more than 4,000 megawatts. "We are honored to have played a role in making this possible, but it wouldn't have happened without the dedication and dogged efforts of Governor Scott, Enterprise Florida, Mayor Curry, JAXUSA Partnership, the Jacksonville City Council, JEA and the business community. By working together with open minds and a shared commitment, they made Florida shine in the face of fierce competition from other states."

Once fully operational, JinkoSolar's state-of-the-art factory in Jacksonville is expected to have the capacity to build 400 megawatts of solar modules annually – more than 1 million solar panels a year. Production is expected to begin later this year. JinkoSolar anticipates using the Port of Jacksonville for a large volume of importing and exporting activities.

"Florida's economy is on a roll. Since 2011, nearly 1.5 million private-sector jobs have been created in our state, and more and more companies like JinkoSolar are choosing to grow in Florida. Today's announcement means that 200 additional families in Jacksonville will be able to find a great job. We will continue working nonstop to make Florida the number one destination of job creators by eliminating burdensome regulations and keeping taxes low for businesses and families," said Florida Governor Rick Scott.

"This is a major win for Jacksonville and the community," said Jacksonville Mayor Lenny Curry. "JinkoSolar's presence enhances our reputation as a manufacturing city, and I am eager to see the company contribute to the vibrant economy in Jacksonville."

"We are thrilled to welcome JinkoSolar to Northeast Florida," said Chris Corr, senior vice president of real estate for Rayonier Inc., a major timberland real estate investment trust that employs hundreds of people in Northeast Florida. "This announcement highlights the high-quality economic development taking place throughout the region, and we applaud Florida Power & Light for helping make this happen and its commitment to keeping energy costs low for its customers."

With advantages that include a low-cost, pro-business environment, a strong record of economic development and job growth and one of the largest solar expansions in the country, Florida edged out several other states that competed for the multimillion-dollar investment.

"Investing in this solar panel manufacturing facility makes clear our commitment to Florida and the growing U.S. market," said Kangping Chen, CEO of JinkoSolar. "This will be one of the world's most advanced solar panel manufacturing facilities, which will provide us with the flexibility and manufacturing capacity to support our local partners and growing U.S. customer base."

JinkoSolar

JinkoSolar Holding Co., Ltd. (NYSE: JKS) is a global leader in the solar industry. JinkoSolar distributes its solar products and sells its solutions and services to a diversified international utility, commercial and residential customer base in China, the United States, Japan, Germany, the United Kingdom, Chile, South Africa, India, Mexico, Brazil, United Arab Emirates, Italy, Spain, France, Belgium, and other countries and regions. JinkoSolar has built a vertically integrated solar product value chain, with an integrated annual capacity of 8 GW for silicon ingots and wafers, 5 GW for solar cells and 8 GW for solar modules, as of December 31, 2017. JinkoSolar has over 12,000 employees across its eight production facilities globally, 16 overseas subsidiaries in Japan (2), Singapore, India, Turkey, Germany, Italy, Switzerland, United States, Canada, Mexico, Brazil, Chile, Australia, South Africa and United Arab Emirates, and global sales offices in China, Hong Kong, Japan, India, Turkey, Germany, Switzerland, United States, Brazil, Chile, Australia, South Africa, and United Arab Emirates.

NextEra Energy, Inc.

NextEra Energy, Inc. (NYSE: NEE) is a leading clean energy company with consolidated revenues of approximately $17.2 billion, operates approximately 46,790 megawatts of net generating capacity and employs approximately 14,000 people in 33 states and Canada as of year-end 2017. Headquartered in Juno Beach, Florida, NextEra Energy's principal subsidiaries are Florida Power & Light Company, which serves approximately 5 million customer accounts in Florida and is one of the largest rate-regulated electric utilities in the United States, and NextEra Energy Resources, LLC, which, together with its affiliated entities, is the world's largest generator of renewable energy from the wind and sun. Through its subsidiaries, NextEra Energy generates clean, emissions-free electricity from eight commercial nuclear power units in Florida, New Hampshire, Iowa and Wisconsin. A Fortune 200 company and included in the S&P 100 index, NextEra Energy has been recognized often by third parties for its efforts in sustainability, corporate responsibility, ethics and compliance, and diversity, and has been ranked No. 1 in the electric and gas utilities industry in Fortune's 2018 list of "World's Most Admired Companies." For more information about NextEra Energy companies, visit these websites: www.NextEraEnergy.com, www.FPL.com, www.NextEraEnergyResources.com.

Cautionary Statements and Risk Factors That May Affect Future Results

This news release contains "forward-looking statements" within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not statements of historical facts, but instead represent the current expectations of NextEra Energy, Inc. (together with its subsidiaries, NextEra Energy) regarding future operating results and other future events, many of which, by their nature, are inherently uncertain and outside of NextEra Energy's control. Forward-looking statements in this news release include, among others, statements concerning adjusted future operating performance. In some cases, you can identify the forward-looking statements by words or phrases such as "will," "may result," "expect," "anticipate," "believe," "intend," "plan," "seek," "potential," "projection," "forecast," "predict," "goals," "target," "outlook," "should," "would" or similar words or expressions. You should not place undue reliance on these forward-looking statements, which are not a guarantee of future performance. The future results of NextEra Energy and its business and financial condition are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements, or may require it to limit or eliminate certain operations. These risks and uncertainties include, but are not limited to, the following: effects of extensive regulation of NextEra Energy's business operations; inability of NextEra Energy to recover in a timely manner any significant amount of costs, a return on certain assets or a reasonable return on invested capital through base rates, cost recovery clauses, other regulatory mechanisms or otherwise; impact of political, regulatory and economic factors on regulatory decisions important to NextEra Energy; disallowance of cost recovery based on a finding of imprudent use of derivative instruments; effect of any reductions or modifications to, or elimination of, governmental incentives or policies that support utility scale renewable energy projects or the imposition of additional tax laws, policies or assessments on renewable energy; impact of new or revised laws, regulations, interpretations or other regulatory initiatives on NextEra Energy; capital expenditures, increased operating costs and various liabilities attributable to environmental laws, regulations and other standards applicable to NextEra Energy; effects on NextEra Energy of federal or state laws or regulations mandating new or additional limits on the production of greenhouse gas emissions; exposure of NextEra Energy to significant and increasing compliance costs and substantial monetary penalties and other sanctions as a result of extensive federal regulation of its operations and businesses; effect on NextEra Energy of changes in tax laws, guidance or policies as well as in judgments and estimates used to determine tax-related asset and liability amounts; impact on NextEra Energy of adverse results of litigation; effect on NextEra Energy of failure to proceed with projects under development or inability to complete the construction of (or capital improvements to) electric generation, transmission and distribution facilities, gas infrastructure facilities or other facilities on schedule or within budget; impact on development and operating activities of NextEra Energy resulting from risks related to project siting, financing, construction, permitting, governmental approvals and the negotiation of project development agreements; risks involved in the operation and maintenance of electric generation, transmission and distribution facilities, gas infrastructure facilities and other facilities; effect on NextEra Energy of a lack of growth or slower growth in the number of customers or in customer usage; impact on NextEra Energy of severe weather and other weather conditions; threats of terrorism and catastrophic events that could result from terrorism, cyber attacks or other attempts to disrupt NextEra Energy's business or the businesses of third parties; inability to obtain adequate insurance coverage for protection of NextEra Energy against significant losses and risk that insurance coverage does not provide protection against all significant losses; a prolonged period of low gas and oil prices could impact NextEra Energy's gas infrastructure business and cause NextEra Energy to delay or cancel certain gas infrastructure projects and for certain existing projects to be impaired; risk of increased operating costs resulting from unfavorable supply costs necessary to provide full energy and capacity requirement services; inability or failure to manage properly or hedge effectively the commodity risk within its portfolio; effect of reductions in the liquidity of energy markets on NextEra Energy's ability to manage operational risks; effectiveness of NextEra Energy's risk management tools associated with its hedging and trading procedures to protect against significant losses, including the effect of unforeseen price variances from historical behavior; impact of unavailability or disruption of power transmission or commodity transportation facilities on sale and delivery of power or natural gas; exposure of NextEra Energy to credit and performance risk from customers, hedging counterparties and vendors; failure of counterparties to perform under derivative contracts or of requirement for NextEra Energy to post margin cash collateral under derivative contracts; failure or breach of NextEra Energy's information technology systems; risks to NextEra Energy's retail businesses from compromise of sensitive customer data; losses from volatility in the market values of derivative instruments and limited liquidity in OTC markets; impact of negative publicity; inability to maintain, negotiate or renegotiate acceptable franchise agreements; occurrence of work strikes or stoppages and increasing personnel costs; NextEra Energy's ability to successfully identify, complete and integrate acquisitions, including the effect of increased competition for acquisitions; environmental, health and financial risks associated with ownership and operation of nuclear generation facilities; liability of NextEra Energy for significant retrospective assessments and/or retrospective insurance premiums in the event of an incident at certain nuclear generation facilities; increased operating and capital expenditures and/or result in reduced revenues at nuclear generation facilities resulting from orders or new regulations of the Nuclear Regulatory Commission; inability to operate any owned nuclear generation units through the end of their respective operating licenses; effect of disruptions, uncertainty or volatility in the credit and capital markets on NextEra Energy's ability to fund its liquidity and capital needs and meet its growth objectives; inability to maintain current credit ratings; impairment of liquidity from inability of credit providers to fund their credit commitments or to maintain their current credit ratings; poor market performance and other economic factors that could affect NextEra Energy's defined benefit pension plan's funded status; poor market performance and other risks to the asset values of nuclear decommissioning funds; changes in market value and other risks to certain of NextEra Energy's investments; effect of inability of NextEra Energy subsidiaries to pay upstream dividends or repay funds to NextEra Energy or of NextEra Energy's performance under guarantees of subsidiary obligations on NextEra Energy's ability to meet its financial obligations and to pay dividends on its common stock; the fact that the amount and timing of dividends payable on NextEra Energy's common stock, as well as the dividend policy approved by NextEra Energy's board of directors from time to time, and changes to that policy, are within the sole discretion of NextEra Energy's board of directors and, if declared and paid, dividends may be in amounts that are less than might be expected by shareholders; NEP's inability to access sources of capital on commercially reasonable terms could have an effect on its ability to consummate future acquisitions and on the value of NextEra Energy's limited partner interest in NextEra Energy Operating Partners, LP; and effects of disruptions, uncertainty or volatility in the credit and capital markets on the market price of NextEra Energy's common stock. NextEra Energy discusses these and other risks and uncertainties in its annual report on Form 10-K for the year ended December 31, 2017 and other SEC filings, and this news release should be read in conjunction with such SEC filings made through the date of this news release. The forward-looking statements made in this news release are made only as of the date of this news release and NextEra Energy undertakes no obligation to update any forward-looking statements.

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SOURCE NextEra Energy, Inc.

NextEra Energy, Inc., Media Line: 561-694-4442

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SHANGHAI, April 25, 2018 /PRNewswire-FirstCall/ -- JinkoSolar Holding Co., Ltd. ("JinkoSolar" or the "Company") (NYSE:JKS), a global leader in the solar PV industry, today announced that the Company filed its annual report on Form 20-F for the fiscal year ended December 31, 2017 with the Securities and Exchange Commission on April 24, 2018.

The Company's annual report on Form 20-F contains its audited consolidated financial statements and is available on the Company's website at http://ir.jinkosolar.com. The Company will provide a hard copy of its annual report free of charge to its shareholders and holders of American depositary shares representing its ordinary shares upon request.

About JinkoSolar Holding Co., Ltd.

JinkoSolar (NYSE: JKS) is a global leader in the solar industry. JinkoSolar distributes its solar products and sells its solutions and services to a diversified international utility, commercial and residential customer base in China, the United States, Japan, Germany, the United Kingdom, Chile, South Africa, India, Mexico, Brazil, the United Arab Emirates, Italy, Spain, France, Belgium, and other countries and regions. JinkoSolar has built a vertically integrated solar product value chain, with an integrated annual capacity of 8 GW for silicon ingots and wafers, 5 GW for solar cells, and 8 GW for solar modules, as of December 31, 2017.

JinkoSolar has over 12,000 employees across its 8 productions facilities globally, 16 oversea subsidiaries in Japan (2), Singapore, India, Turkey, Germany, Italy, Switzerland, United States, Canada, Mexico, Brazil, Chile, Australia, South Africa and United Arab Emirates, and global sales teams in United Kingdom, Bulgaria, Greece, Romania, Jordan, Saudi Arabia, South Africa, Egypt, Morocco, Ghana, Kenya, Costa Rica, Colombia, Panama and Argentina.

To find out more, please see: www.jinkosolar.com

Safe Harbor Statement

This press release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends, "plans," "believes," "estimates" and similar statements. Among other things, the quotations from management in this press release and the Company's operations and business outlook, contain forward-looking statements. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Further information regarding these and other risks is included in JinkoSolar's filings with the U.S. Securities and Exchange Commission, including its annual report on Form 20-F. Except as required by law, the Company does not undertake any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.

For investor and media inquiries, please contact:

In China:

Mr. Sebastian Liu
JinkoSolar Holding Co., Ltd.
Tel: +86 21-5183-3056
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

Mr. Christian Arnell
Christensen, Beijing 
Tel: +86 10 5900 2940
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

In the U.S.:

Ms. Linda Bergkamp
Christensen, Scottsdale, Arizona
Tel: +1-480-614-3004
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

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SOURCE JinkoSolar Holding Co., Ltd.

Read more: JinkoSolar Files 2017 Annual Report on Form 20-F

SHANGHAI, March 9, 2018 /PRNewswire/ -- JinkoSolar Holding Co., Ltd. (NYSE: JKS) (the "Company," or "JinkoSolar"), a global leader in the solar PV industry, today announced that it was awarded the "Top Brand PV" seal in the Australian, German, and Austrian markets by EuPD Research, Europe's leading sustainability research firm.

The Top Brand PV seal is awarded based on survey responses from close to a thousand installers and intermediaries in markets with mature residential and commercial rooftop PV sectors such as Australia, Germany, and Austria. Participants of the survey rated JinkoSolar positively on aspects such as brand awareness and brand management. JinkoSolar is also ranked among the top module manufacturers based on recommendations from Australian, German, and Austrian PV installers who responded that they are highly likely to recommend JinkoSolar to their customers.

"We're extremely honored to be named as one of the top PV brands in Australia, Germany, and Austria. The seal is a testament to the quality of our modules and strong market reputation" Mr. Gener Miao, JinkoSolar Vice President of Sales & Marketing, noted. "This is a particularly noteworthy accomplishment, considering that the survey respondents are installers in mature distributed generation markets where they've worked with a wide variety of modules and module brands and yet choose to recommend JinkoSolar," Mr. Miao added.

About JinkoSolar Holding Co., Ltd.

JinkoSolar (NYSE: JKS) is a global leader in the solar industry. JinkoSolar distributes its solar products and sells its solutions and services to a diversified international utility, commercial and residential customer base in China, the United States, Japan, Germany, the United Kingdom,Chile, South Africa, India, Mexico, Brazil, United Arab Emirates, Italy, Spain, France, Belgium, and other countries and regions. JinkoSolar has built a vertically integrated solar product value chain, with an integrated annual capacity of 8.0 GW for silicon wafers, 5.0 GW for solar cells, and 8.0 GW for solar modules, as of December 31, 2017.

JinkoSolar has over 15,000 employees across its 8 productions facilities globally, 16 oversea subsidiaries in Japan (2), Singapore, India, Turkey, Germany, Italy, Switzerland, United States, Canada, Mexico, Brazil, Chile, Australia, South Africa and United Arab Emirates, and global sales teams in United Kingdom, Bulgaria, Greece, Romania, Jordan, Saudi Arabia, South Africa, Egypt, Morocco, Ghana, Kenya, Costa Rica, Colombia, Panama, Argentina.

To find out more, please see: www.jinkosolar.com

Safe Harbor Statement

This press release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends, "plans," "believes," "estimates" and similar statements. Among other things, the quotations from management in this press release and the Company's operations and business outlook, contain forward-looking statements. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Further information regarding these and other risks is included in JinkoSolar's filings with the U.S. Securities and Exchange Commission, including its annual report on Form 20-F. Except as required by law, the Company does not undertake any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.

For investor and media inquiries, please contact:

In China:
Mr. Sebastian Liu
JinkoSolar Holding Co., Ltd.
Tel: +86 21-5183-3056
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

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SOURCE JinkoSolar Holding Co., Ltd.

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SHANGHAI, April 3, 2018 /PRNewswire/ -- JinkoSolar Holding Co., Ltd. (the "Company," or "JinkoSolar") (NYSE: JKS), a global leader in the solar PV industry, today announced that it was named Energy Yield Simulation Winner - Polycrystalline Group at the 4th All Quality Matters Solar Congress hosted by TÜV Rhineland in Wuxi, China.

Organized by TÜV Rheinland, a highly respected and objective PV research institute, the All Quality Matters Awards is one of the highest honors given in the solar industry. The sample modules utilized during this year's energy simulation competition was randomly selected from the mass production lines of participating companies. To simulate the operational environment of countries like China, Germany, Saudi Arabia, and India, the modules' energy generation performance was tested under a broad array of solar irradiance ranging from 100 - 1100W/m2, temperatures ranging from 15-75℃, and a wide range of incident angles. Ultimately, JinkoSolar emerged from the competition with the top rated module energy yield performance, illustrating the superiority of JinkoSolar products when it comes to performance. Having been recognized with the All Quality Matters Award, JinkoSolar has demonstrated the reliability of its PV products when used in projects and its ability to lead the solar industry's development.

As the world's top solar module manufacturer, JinkoSolar CEO Mr. Kangping Chen commented that "In 2017, our shipment figures grew by 47% to roughly 10 GWs. JinkoSolar leads the global PV industry as the first company to reach 10 GW. Going forward, we will continue to provide our customers with a diverse and high quality product portfolio."

About JinkoSolar Holding Co., Ltd.

JinkoSolar (NYSE: JKS) is a global leader in the solar industry. JinkoSolar distributes its solar products and sells its solutions and services to a diversified international utility, commercial and residential customer base in China, the United States, Japan, Germany, the United Kingdom, Chile, South Africa, India, Mexico, Brazil, United Arab Emirates, Italy, Spain, France, Belgium, and other countries and regions. JinkoSolar has built a vertically integrated solar product value chain, with an integrated annual capacity of 8.0 GW for silicon wafers, 5.0 GW for solar cells, and 8.0 GW for solar modules, as of December 31, 2017.

JinkoSolar has over 12,000 employees across its 8 productions facilities globally, 16 oversea subsidiaries in Japan (2), Singapore, India, Turkey, Germany, Italy, Switzerland, United States, Canada, Mexico, Brazil, Chile, Australia, South Africa and United Arab Emirates, and global sales offices in China, Hong Kong, Japan, India, Turkey, Germany, Switzerland, United States, Brazil, Chile, Australia, South Africa and United Arab Emirates.

To find out more, please see: www.jinkosolar.com

Safe-Harbor Statement

This press release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends, "plans," "believes," "estimates" and similar statements. Among other things, the quotations from management in this press release and the Company's operations and business outlook, contain forward-looking statements. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Further information regarding these and other risks is included in JinkoSolar's filings with the U.S. Securities and Exchange Commission, including its annual report on Form 20-F. Except as required by law, the Company does not undertake any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.

For investor and media inquiries, please contact:
Sebastian Liu
JinkoSolar Holding Co., Ltd.
Tel: +86 21-5183-3056
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

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SOURCE JinkoSolar Holding Co., Ltd.

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SHANGHAI, April 17, 2018 /PRNewswire/ -- JinkoSolar Holding Co., Ltd. ("JinkoSolar" or the "Company") (NYSE: JKS), a global leader in the solar PV industry, today announced that it has signed a renewed credit agreement with HSBC (China) Co., Ltd. ("HSBC") to increase its credit limit to $47 million from $25 million.

"This updated agreement reflects the recognition of leading financial institutions such as HSBS in our brand, operation and financial condition," commented Mr. Charlie Cao, JinkoSolar's Chief Financial Officer. "Strong financial support will help enhance our sustained development capability and strengthen our leading position in the industry. We look forward to working closely with HSBC in the future."

About JinkoSolar Holding Co., Ltd.

JinkoSolar (NYSE: JKS) is a global leader in the solar industry. JinkoSolar distributes its solar products and sells its solutions and services to a diversified international utility, commercial and residential customer base in China, the United States, Japan, Germany, the United Kingdom, Chile, South Africa, India, Mexico, Brazil, the United Arab Emirates, Italy, Spain, France, Belgium, and other countries and regions. JinkoSolar has built a vertically integrated solar product value chain, with an integrated annual capacity of 8 GW for silicon ingots and wafers, 5 GW for solar cells, and 8 GW for solar modules, as of December 31, 2017.

JinkoSolar has over 12,000 employees across its 8 productions facilities globally, 16 oversea subsidiaries in Japan (2), Singapore, India, Turkey, Germany, Italy, Switzerland, United States, Canada, Mexico, Brazil, Chile, Australia, South Africa and United Arab Emirates, and global sales teams in United Kingdom, Bulgaria, Greece, Romania, Jordan, Saudi Arabia, Egypt, Morocco, Ghana, Kenya, Costa Rica, Colombia, Panama and Argentina.

To find out more, please see: www.jinkosolar.com

Safe Harbor Statement

This press release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends, "plans," "believes," "estimates" and similar statements. Among other things, the quotations from management in this press release and the Company's operations and business outlook, contain forward-looking statements. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Further information regarding these and other risks is included in JinkoSolar's filings with the U.S. Securities and Exchange Commission, including its annual report on Form 20-F. Except as required by law, the Company does not undertake any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.

For investor and media inquiries, please contact:

In China:

Mr. Sebastian Liu
JinkoSolar Holding Co., Ltd.
Tel: +86 21-5183-3056
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

Mr. Christian Arnell
Christensen, Beijing 
Tel: +86 10 5900 2940
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

In the U.S.:

Ms. Linda Bergkamp
Christensen, Scottsdale, Arizona
Tel: +1-480-614-3004
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

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SOURCE JinkoSolar Holding Co., Ltd.

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SHANGHAI, March 9, 2018 /PRNewswire/ -- JinkoSolar Holding Co., Ltd. ("JinkoSolar" or the "Company") (NYSE: JKS), a global leader in the solar PV industry, today announced that it plans to release its unaudited financial results for the fourth quarter and full year ended December 31, 2017 before the open of U.S. markets on Thursday, March 22, 2018.

JinkoSolar's management will host an earnings conference call on March 22, 2018 at 8:00 a.m. U.S. Eastern Time (8:00 p.m.Beijing / Hong Kong the same day).

Dial-in details for the earnings conference call are as follows:

Hong Kong / International:

+852 3027 6500

 

U.S. Toll Free:

+1 855-824-5644

 

Passcode:

08398519#

 

Please dial in 10 minutes before the call is scheduled to begin and provide the passcode to join the call.

A telephone replay of the call will be available 2 hours after the conclusion of the conference call through 23:59 U.S. Eastern Time, March 29, 2018. The dial-in details for the replay are as follows:

International:

+61 2 8325 2405

 

U.S.:

+1 646 982 0473

 

Passcode:

319286604#

 

Additionally, a live and archived webcast of the conference call will be available on the Investor Relations section of JinkoSolar's website at http://www.jinkosolar.com.

About JinkoSolar Holding Co., Ltd.

JinkoSolar (NYSE: JKS) is a global leader in the solar industry. JinkoSolar distributes its solar products and sells its solutions and services to a diversified international utility, commercial and residential customer base in China, the United States, Japan, Germany, the United Kingdom, Chile, South Africa, India, Mexico, Brazil, the United Arab Emirates, Italy, Spain, France, Belgium, and other countries and regions. JinkoSolar has built a vertically integrated solar product value chain, with an integrated annual capacity of 8 GW for silicon ingots and wafers, 5 GW for solar cells, and 8 GW for solar modules, as of December 31, 2017.

JinkoSolar has over 15,000 employees across its 8 productions facilities globally, 16 oversea subsidiaries in Japan (2), Singapore, India, Turkey, Germany, Italy, Switzerland, United States, Canada, Mexico, Brazil, Chile, Australia, South Africa and United Arab Emirates, and global sales teams in United Kingdom, Bulgaria, Greece, Romania, Jordan, Saudi Arabia, South Africa, Egypt, Morocco, Ghana, Kenya, Costa Rica, Colombia, Panama and Argentina.

To find out more, please see: www.jinkosolar.com

Safe Harbor Statement

This press release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends, "plans," "believes," "estimates" and similar statements. Among other things, the quotations from management in this press release and the Company's operations and business outlook, contain forward-looking statements. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Further information regarding these and other risks is included in JinkoSolar's filings with the U.S. Securities and Exchange Commission, including its annual report on Form 20-F. Except as required by law, the Company does not undertake any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.

For investor and media inquiries, please contact:

In China:
Mr. Sebastian Liu
JinkoSolar Holding Co., Ltd.
Tel: +86 21-5183-3056
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

Mr. Christian Arnell
Christensen
Tel: +86 10 5900 2940
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

In the U.S.:

Ms. Linda Bergkamp
Christensen, Scottsdale, Arizona
Tel: +1-480-614-3004
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

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SOURCE JinkoSolar Holding Co., Ltd.

Read more: JinkoSolar to Report Fourth Quarter and Full...

SHANGHAI, Feb. 20, 2018 /PRNewswire/ -- JinkoSolar Holding Co., Ltd. ("JinkoSolar" or the "Company") (NYSE: JKS), a global leader in the solar PV industry, today announced that the underwriters of its previously announced follow-on offering of 3,600,000 American depositary shares (the "ADSs"), each representing four ordinary shares of the Company, par value US$0.00002 per share (the "ADS Offering"), have fully exercised their over-allotment option to purchase an additional 540,000 ADSs at US$18.15 per ADS. After giving effect to the full exercise of the over-allotment option, the total number of ADSs sold in the ADS Offering increased to 4,140,000 ADSs and the net proceeds to the Company, after deducting underwriting commissions and fees and estimated offering expenses, increased to approximately US$71.1 million. The exercise of the over-allotment option is expected to close on February 21, 2018, subject to customary closing conditions.

Credit Suisse Securities (USA) LLC and Barclays Capital Inc. are acting as the joint bookrunners for the ADS Offering.

JinkoSolar intends to use the net proceeds from the ADS Offering for general corporate purposes, including capital expenditures for the capacity expansion and upgrade including the construction and operation of our manufacturing facility in the United States, and working capital.

The ADS Offering has been made pursuant to the Company's shelf registration statement on a Form F-3 filed with the Securities and Exchange Commission (the "SEC") on August 11, 2017, which became effective on August 22, 2017. A prospectus supplement dated February 8, 2018 and a related base prospectus (included in the Company's shelf registration statement on Form F-3) related to the ADS Offering have been filed with the SEC and are available at the SEC website at: www.sec.gov. A copy of the prospectus supplement and the related base prospectus may be obtained from Credit Suisse Securities (USA) LLC, Attention: Prospectus Department, One Madison Avenue, New York, NY, 10010, by phone at (800) 221-1037, or by e-mail at This email address is being protected from spambots. You need JavaScript enabled to view it.; and Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, by phone toll free at 1-888-603-5847, or by email at This email address is being protected from spambots. You need JavaScript enabled to view it..

This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities, nor will there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction. This press release contains information about the ADS Offering, and there can be no assurance that the full exercise of over-allotment option in the ADS Offering will be completed.

About JinkoSolar Holding Co., Ltd.

JinkoSolar (NYSE: JKS) is a global leader in the solar industry. JinkoSolar distributes its solar products and sells its solutions and services to a diversified international utility, commercial and residential customer base in China, the United States, Japan, Germany, the United Kingdom, Chile, South Africa, India, Mexico, Brazil, United Arab Emirates, Italy, Spain, France, Belgium, and other countries and regions. JinkoSolar has built a vertically integrated solar product value chain, with an integrated annual capacity of 8.0 GW for silicon wafers, 5.0 GW for solar cells, and 8.0 GW for solar modules, as of December 31, 2017.

JinkoSolar has over 15,000 employees across its 8 productions facilities globally, 16 oversea subsidiaries in Japan (2), Singapore, India, Turkey, Germany, Italy, Switzerland, United States, Canada, Mexico, Brazil, Chile, Australia, South Africa and United Arab Emirates, and global sales offices in China, Hong Kong, Japan, India, Turkey, Germany, Switzerland, United States, Brazil, Chile, Australia, South Africa and United Arab Emirates.

To find out more, please see: www.jinkosolar.com

Safe Harbor Statement

This press release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends, "plans," "believes," "estimates" and similar statements. Among other things, the quotations from management in this press release and the Company's operations and business outlook, contain forward-looking statements. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Further information regarding these and other risks is included in JinkoSolar's filings with the U.S. Securities and Exchange Commission, including its annual report on Form 20-F. Except as required by law, the Company does not undertake any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.

For investor and media inquiries, please contact:

In China: 
Sebastian Liu
JinkoSolar Holding Co., Ltd.
Tel: +86 21-5183-3056
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

Christian Arnell
Christensen
Tel: +86-10-5900-2940
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

In the U.S.:
Ms. Linda Bergkamp
Christensen
Tel: +1-480-614-3004
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

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SOURCE JinkoSolar Holding Co., Ltd.

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SHANGHAI, April 5, 2018 /PRNewswire/ -- JinkoSolar Holding Co., Ltd. (NYSE: JKS) (the "Company," or "JinkoSolar"), a global leader in the solar PV industry, today announced that it has supplied solar modules for America's largest solar PV plant in Mexico. According to terms of the contract, JinkoSolar has supplied high efficient solar modules to a European counterparty for its 754 MW solar PV plant in Mexico, which is expected to begin operations during the second half of 2018 and generate over 1,700 GWh each year.

"We are very pleased to join this significant project," said Gener Miao, JinkoSolar Vice President of Sales & Marketing. "By providing high-quality products, not only do we contribute to the development of Mexico's clean energy, it also further strengthens our presence in the American market."

About JinkoSolar Holding Co., Ltd.
JinkoSolar (NYSE: JKS) is a global leader in the solar industry. JinkoSolar distributes its solar products and sells its solutions and services to a diversified international utility, commercial and residential customer base in China, the United States, Japan, Germany, the United Kingdom, Chile, South Africa, India, Mexico, Brazil, United Arab Emirates, Italy, Spain, France, Belgium, and other countries and regions. JinkoSolar has built a vertically integrated solar product value chain, with an integrated annual capacity of 8.0 GW for silicon wafers, 5.0 GW for solar cells, and 8.0 GW for solar modules, as of December 31, 2017.

JinkoSolar has over 12,000 employees across its 8 productions facilities globally, 16 oversea subsidiaries in Japan (2), Singapore, India, Turkey, Germany, Italy, Switzerland, United States, Canada, Mexico, Brazil, Chile, Australia, South Africa and United Arab Emirates, and global sales offices in China, Hong Kong, Japan, India, Turkey, Germany, Switzerland, United States, Brazil, Chile, Australia, South Africa and United Arab Emirates.

To find out more, please see: www.jinkosolar.com

Safe-Harbor Statement

This press release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends, "plans," "believes," "estimates" and similar statements. Among other things, the quotations from management in this press release and the Company's operations and business outlook, contain forward-looking statements. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Further information regarding these and other risks is included in JinkoSolar's filings with the U.S. Securities and Exchange Commission, including its annual report on Form 20-F. Except as required by law, the Company does not undertake any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.

For investor and media inquiries, please contact:

In China:
Mr. Sebastian Liu
JinkoSolar Holding Co., Ltd.
Tel: +86 21-5183-3056
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

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SOURCE JinkoSolar Holding Co., Ltd.

Read more: JinkoSolar Supplies Modules for America's...

SHANGHAI, March 22, 2018 /PRNewswire/ -- JinkoSolar Holding Co., Ltd. ("JinkoSolar" or the "Company") (NYSE: JKS), a global leader in the solar PV industry, today announced its unaudited financial results for the fourth quarter and full year ended December 31, 2017.

Fourth Quarter 2017 Highlights

  • Total solar module shipments were 2,481 megawatts ("MW") (including 14 MW to be used in the Company's overseas downstream solar projects), an increase of 4.5% from 2,374 MW in the third quarter of 2017 and an increase of 43.1% from 1,733 MW in the fourth quarter of 2016.
  • Total revenues were RMB6.35 billion (US$976.4 million), a decrease of 1.0% from the third quarter of 2017 and an increase of 24.0% from the fourth quarter of 2016.
  • Gross margin was 11.6%, compared with 12.0% in the third quarter of 2017 and 14.3% in the fourth quarter of 2016.
  • Income from operations was RMB91.3 million (US$14.0 million), compared with RMB91.9 million in the third quarter of 2017 and RMB77.9 million in the fourth quarter of 2016.
  • Net income attributable to the Company's ordinary shareholders from continuing operations was RMB22.5 million (US$3.5 million) in the fourth quarter of 2017, compared with RMB11.3 million in the third quarter of 2017 and RMB145.8 million in the fourth quarter of 2016.
  • Diluted earnings per American depositary share ("ADS") from continuing operations were RMB0.68(US$0.12).
  • Non-GAAP net income attributable to the Company's ordinary shareholders from continuing operations in the fourth quarter of 2017 was RMB41.5 million (US$6.4 million), compared with RMB25.9 million in the third quarter of 2017 and RMB218.2 million in the fourth quarter of 2016.
  • Non-GAAP basic and diluted earnings per ADS from continuing operations were RMB1.28(US$0.20) and RMB1.24(US$0.20), respectively, in the fourth quarter of 2017.

Full Year 2017 Highlights

  • Total solar module shipments were 9,807 MW (including 14 MW to be used in the Company's overseas downstream solar projects), an increase of 47.3% from 6,656 MW for the full year 2016.
  • Total revenues for the full year 2017 were RMB26.47 billion (US$4.07 billion), an increase of 23.7% from RMB21.40 billion for the full year 2016.
  • Gross margin was 11.3% for the full year 2017, compared with 18.1% for the full year 2016.
  • Income from operations was RMB325.3 million (US$50.0 million), compared with RMB1.35 billion for the full year 2016.
  • Net income attribute to the Company's ordinary shareholders from continuing operations was RMB141.7 million (US$21.8 million) for the full year 2017, compared with RMB990.7 million for the full year 2016.
  • Diluted earnings per ADS from continuing operations for the full year 2017 were RMB4.32(US$0.68), compared with RMB30.52 for the full year 2016.
  • Total diluted earnings per ADS from continuing and discontinued operations for the full year 2017 were RMB4.32(US$0.68), compared with RMB56.12 for the full year 2016.
  • Non-GAAP net income attributable to the Company's ordinary shareholders from continuing operations for the full year 2017 was RMB209.0 million (US$32.1 million), compared with RMB1.27 billion for the full year 2016.
  • Non-GAAP basic and diluted earnings per ADS from continuing operations for the full year 2017 were RMB6.48(US$1.00) and RMB6.36(US$0.96), respectively.

Mr. Kangping Chen, JinkoSolar's Chief Executive Officer commented, "we shipped 2,481MW of solar modules during the quarter while generating total revenues of $976.4 million. For the full year 2017, we further strengthened our leading global position in terms of global market share by shipping 9,807MW of solar modules, a 47.3% increase from 2016. Our gross margin was 11.3% for the year, compared to 18.1% in 2016, partially as a result of increased collaboration with OEM partners to meet surging market demand, especially in the first half of 2017, and higher raw material costs. We believe our gross margin and bottom line have ample room for improvement in 2018 as a result of the decrease in raw material costs, our reduced use of OEM, and enhanced cost structure supported by technology and supply chain management initiatives. We are confident in our ability to further expand our global market share in 2018."

"While many of the details from the Section 201 petition have yet to be ironed out, we have finalized plans to invest in the construction of an advanced solar module manufacturing facility in the southeastern United States to address local market demand. We will continue to invest in advanced manufacturing capacity overseas based on our global order book and market development. Emerging markets are gradually becoming our biggest growth driver, with demand from Latin America and Australia generating substantial growth momentum and the Middle East and African markets expected to rise in the coming year. We will continue to allocate more resources towards these high-growth markets in order to further solidify the long-term sustainable development of JinkoSolar."

"During the quarter, we continued to optimize our mono wafer production costs and have made substantial progress in crystalizing, cutting and argon recycling during the mono wafer production process. We broke our own world record during the quarter when solar cell efficiency for our P-type mono-crystalline PERC cell hit 23.45%. We also made solid progress in developing N type Hydride Oxide Thin Film (HOT) technology, with an industry-leading 21.9% in average cell efficiency during mass production. With demand increasing, we also plan to expand our production capacity of bifacial cell plus bifacial duo glass modules."

"We expect global demand to continue growing in 2018. This growth will mostly be driven by the emerging markets. With the cost of solar energy continuing to decrease and support for clean energy globally increasing, solar energy is becoming more and more competitive and are being applied more widely. We are very confident in the industry's long-term sustainability and prospects."

Fourth Quarter 2017 Financial Results

Total Revenues

Total revenues in the fourth quarter of 2017 were RMB6.35 billion (US$976.4 million), a decrease of 1.0% from RMB6.42 billion in the third quarter of 2017 and an increase of 24.0% from RMB5.12 billion in the fourth quarter of 2016. The sequential decrease was mainly attributable to a decrease in the shipment of silicon wafers and solar cells in the fourth quarter of 2017. The year-over-year increase was mainly attributable to an increase in solar module shipments, which was partially offset by a decline in the average selling price of solar modules in 2017.

Gross Profit and Gross Margin

Gross profit in the fourth quarter of 2017 was RMB735.3 million (US$113.0 million), compared with RMB772.4 million in the third quarter of 2017 and RMB730.0 million in the fourth quarter of 2016. The sequential decrease was mainly attributable to a slight decline in the gross margin of solar modules in the fourth quarter of 2017. The year-over-year increase was mainly attributable to an increase in solar module shipments, which was partially offset by a decline in the average selling price of solar modules in 2017.

Gross margin was 11.6% in the fourth quarter of 2017, compared with 12.0% in the third quarter of 2017 and 14.3% in the fourth quarter of 2016. The sequential decrease was mainly attributable to an increase in polysilicon cost and the appreciation of the RMB against the US dollar. The year-over-year decrease was mainly attributable to a decline in the average selling price of solar modules in the fourth quarter of 2017.

Income from Operations and Operating Margin

Income from operations in the fourth quarter of 2017 was RMB91.3 million (US$14.0 million), compared with RMB91.9 million in the third quarter of 2017 and RMB77.9 million in the fourth quarter of 2016. Operating margin in the fourth quarter of 2017 was 1.4%, compared with 1.4% in the third quarter of 2017 and 1.5% in the fourth quarter of 2016.

Total operating expenses in the fourth quarter of 2017 were RMB644.0 million (US$99.0 million), a decrease of 5.4% from RMB680.5 million in the third quarter of 2017 and a decrease of 1.2% from RMB652.1 million in the fourth quarter of 2016. The sequential decease was mainly due to a disposal gain in property, plant and equipment, which was partially offset by an increase in provision for accounts receivable. The year-over-year decrease was primarily due to a disposal gain in property, plant and equipment, which was partially offset by an increase in shipping costs.

Total operating expenses accounted for 10.1% of total revenues in the fourth quarter of 2017, compared to 10.6% in the third quarter of 2017 and 12.7% in the fourth quarter of 2016.

Interest Expense, Net

Net interest expense in the fourth quarter of 2017 was RMB55.6 million (US$8.5 million), an increase of 6.2% from RMB52.3 million in the third quarter of 2017 and a decrease of 25.5% from RMB74.5 million in the fourth quarter of 2016. The year-over-year decrease was due to a decrease in interest expenses associated with the Company's convertible senior notes, US$61.1 million of which were repurchased in the first quarter of 2017.

Exchange Gain / (Loss), Net

The Company recorded a net exchange loss (including change in fair value of forward contracts) of RMB33.9 million (US$5.2 million) in the fourth quarter of 2017, compared to a net exchange loss of RMB49.3 million in the third quarter of 2017 and a net exchange gain of RMB17.7 million in the fourth quarter of 2016. The sequential and year-over-year changes were primarily due to the continued depreciation of the US dollar against the RMB.

Income Tax Expense / (Benefit), Net

The Company recorded an income tax expense of RMB31.1 million (US$4.8 million) in the fourth quarter of 2017, compared with an income tax expense of RMB4.5 million in the third quarter of 2017 and an income tax benefit of RMB49.2 million in the fourth quarter of 2016.

Net Income and Earnings per Share

Net income attributable to the Company's ordinary shareholders from continuing operations in the fourth quarter of 2017 was RMB22.5 million (US$3.5 million), compared with RMB11.3 million in the third quarter of 2017 and RMB145.8 million in the fourth quarter of 2016.

Basic and diluted earnings per ordinary share from continuing operations were both of RMB0.17(US$0.03), during the fourth quarter of 2017. This translates into basic and diluted earnings per ADS from continuing operations both of RMB0.68(US$0.12).

Non-GAAP net income in the fourth quarter of 2017 was RMB41.5 million (US$6.4 million), compared with RMB25.9 million in the third quarter of 2017 and RMB218.2 million in the fourth quarter of 2016.

Non-GAAP basic and diluted earnings per ordinary share from continuing operations were RMB0.32(US$0.05) and RMB0.31(US$0.05), respectively, during the fourth quarter of 2017. This translates into non-GAAP basic and diluted earnings per ADS from continuing operations of RMB1.28(US$0.20) and RMB1.24(US$0.20), respectively.

Financial Position

As of December 31, 2017, the Company had RMB2.76 billion (US$424.4 million) in cash and cash equivalents and restricted cash, compared with RMB2.82 billion as of December 31, 2016.

As of December 31, 2017, the Company's accounts receivables due from third parties were RMB4.50 billion (US$691.3 million), compared with RMB4.75 billion as of December 31, 2016.

As of December 31, 2017, the Company's inventories were RMB4.27 billion (US$656.9 million), compared with RMB4.47 billion as of December 31, 2016.

As of December 31, 2017, the Company's total interest-bearing debts were RMB7.43 billion (US$1.14 billion), compared with RMB6.44 billion as of December 31, 2016.

Full Year 2017 Financial Results

Total Revenues

Total revenues for the full year 2017 were RMB26.47 billion (US$4.07 billion), an increase of 23.7% from RMB21.40 billion for the full year 2016. The increase in total revenues was mainly attributable to the increase in shipments of solar modules, which was partially offset by a decline in the average selling price of solar modules.

Gross Profit and Gross Margin

Gross profit for the full year 2017 was RMB2.99 billion (US$459.8 million), a decrease of 22.7% from RMB3.87 billion for the full year 2016. Gross margin was 11.3% for the full year 2017, compared with 18.1% for the full year 2016. The decrease was due to a decline in the average selling price of solar modules, increased volume produced by OEM partners and higher polysilicon price during the full year 2017.

Income from Operations and Operating Margin

Income from operations for the full year 2017 was RMB325.3 million (US$50.0 million), compared with RMB1.35 billion for the full year 2016. Operating margin for the full year 2017 was 1.2%, compared with 6.3% for the full year 2016.

Total operating expenses for the full year 2017 were RMB2.67 billion (US$409.8 million), an increase of 5.8% from RMB2.52 billion for the full year 2016. Operating expenses represented 10.1% of total revenues for the full year 2017, compared with 11.8% for the full year 2016. The increase in total operating expenses was primarily due to an increase in shipping costs and warranty costs, which were partially offset by a disposal gain in property, plant and equipment and a decrease in bad debt expenses due to the reversal of allowance for doubtful accounts upon subsequent collections.

Interest Expense, Net

Net interest expense for the full year 2017 was RMB245.5 million (US$37.7 million), a decrease of 31.7% from RMB359.3 million in 2016. The decrease was due to the repurchase of US$232.6 million in convertible senior notes and the repayment of US$123.5 million in bond payables.

Exchange Gain / (Loss), Net

The Company recorded an exchange loss of RMB122.6 million (US$18.8 million) for the full year 2017 due primarily to deprecation of US dollars against RMB. The Company had net exchange gain of RMB156.2 million in 2016.

Income Tax Expense, Net

The Company recognized an income tax expense of RMB4.6 million (US$0.7 million) for the full year 2017, compared with an income tax expense of RMB257.5 million in 2016.

Net Income and Earnings per Share

Net income attributable to the Company's ordinary shareholders from continuing operations for the full year 2017 was RMB141.7 million (US$21.8 million), compared with a net income of RMB990.7 million in 2016.

Basic and diluted earnings per share from continuing operations for the full year 2017 were RMB1.10(US$0.17) and RMB1.08(US$0.17), respectively. This translates into basic and diluted earnings per ADS from continuing operations of RMB4.40(US$0.68) and RMB4.32(US$0.68), respectively.

Non-GAAP net income from continuing operations for the full year 2017 was RMB209.0 million (US$32.1 million), compared with non-GAAP net income of RMB1.27 billion in 2016.

Non-GAAP basic and diluted earnings per share from continuing operations for the full year 2017 were RMB1.62(US$0.25) and RMB1.59(US$0.24), respectively, which translates into non-GAAP basic and diluted earnings per ADS from continuing operations of RMB6.48(US$1.00) and RMB6.36(US$0.96), respectively.

Fourth Quarter and Full Year 2017 Operational Highlights

Solar Module Shipments

Total solar module shipments in the fourth quarter of 2017 were 2,481 MW, including 14 MW to be used in the Company's overseas downstream solar projects.

Total solar module shipments in 2017 were 9,807 MW (including14 MW to be used in the Company's overseas downstream solar projects), compared to 6,656 MW in 2016.

Solar Products Production Capacity

As of December 31, 2017, the Company's in-house annual silicon wafer, solar cell and solar module production capacity was 8GW, 5GW and 8GW, respectively.

Recent Business Developments

  • In November 2017, JinkoSolar announced that it has been awarded the Cradle-to-Cradle certificate by SGS, the world's leading testing, inspection, verification, and certification organization.
  • In December 2017, JinkoSolar supplied polycrystalline photovoltaic panels to the first solar power plant in Armenia.
  • In January 2018, JinkoSolar announced that its wholly-owned subsidiary, JinkoSolar (U.S.) Inc., has signed a major master solar module supply agreement with a U.S. counterparty.
  • In February 2018, JinkoSolar announced that its world record breaking 1177 MW Sweihan project, co-developed by JinkoSolar, Marubeni, and the Abu Dhabi Electricity and Water Authority, was named as the Large Scale Solar Project of the Year by the Middle East Solar Industry Association.
  • In February 2018, JinkoSolar announced that it closed the follow-on offering of 4,140,000 ADSs, each representing four ordinary shares of the Company, par value US$0.00002 per share, at US$18.15 per ADS. The net proceeds of the follow-on offering to the Company, after deducting underwriting commissions and fees and estimated offering expenses, was approximately US$71.1 million.
  • In March 2018, JinkoSolar announced that it has completed the largest solar power plant in the Aegean region in cooperation with Asunim Turkey, a leading PV project developer and EPC company.

Operations and Business Outlook

First Quarter and Full Year 2018 Guidance

For the first quarter of 2018, the Company estimates total solar module shipments to be in the range of 1.8 GW to 2 GW.

For the full year 2018, the Company estimates total solar module shipments to be in the range of 11.5 GW and 12 GW.

Conference Call Information

JinkoSolar's management will host an earnings conference call on Thursday, March 22, 2018 at 8:00 a.m. U.S. Eastern Time (8:00 p.m.Beijing / Hong Kong the same day).

Dial-in details for the earnings conference call are as follows:

Hong Kong / International:

+852 3027 6500

 

U.S. Toll Free:

+1 855-824-5644

 

Passcode:

08398519#

 
     

Please dial in 10 minutes before the call is scheduled to begin and provide the passcode to join the call.

A telephone replay of the call will be available 2 hours after the conclusion of the conference call through 23:59 U.S. Eastern Time, March 29, 2018. The dial-in details for the replay are as follows:

International:

+61 2 8325 2405

 

U.S.:

+1 646 982 0473

 

Passcode:

319286604#

 
     

Additionally, a live and archived webcast of the conference call will be available on the Investor Relations section of JinkoSolar's website at www.jinkosolar.com.

About JinkoSolar Holding Co., Ltd.

JinkoSolar (NYSE: JKS) is a global leader in the solar industry. JinkoSolar distributes its solar products and sells its solutions and services to a diversified international utility, commercial and residential customer base in China, the United States, Japan, Germany, the United Kingdom, Chile, South Africa, India, Mexico, Brazil, United Arab Emirates, Italy, Spain, France, Belgium, and other countries and regions. JinkoSolar has built a vertically integrated solar product value chain, with an integrated annual capacity of 8.0 GW for silicon wafers, 5.0 GW for solar cells, and 8.0 GW for solar modules, as of December 31, 2017.

JinkoSolar has over 12,000 employees across its 8 productions facilities globally, 16 oversea subsidiaries in Japan (2), Singapore, India, Turkey, Germany, Italy, Switzerland, United States, Canada, Mexico, Brazil, Chile, Australia, South Africa and United Arab Emirates, and global sales offices in China, Hong Kong, Japan, India, Turkey, Germany, Switzerland, United States, Brazil, Chile, Australia, South Africa and United Arab Emirates.

To find out more, please see: www.jinkosolar.com

Use of Non-GAAP Financial Measures

To supplement its consolidated financial results presented in accordance with United States Generally Accepted Accounting Principles ("GAAP"), JinkoSolar uses certain non-GAAP financial measures including, non-GAAP net income , non-GAAP earnings per Share, non-GAAP earnings per ADS, and non-GAAP diluted weighted average ordinary shares outstanding, which are adjusted from the comparable GAAP results to exclude certain expenses or incremental ordinary shares relating to share-based compensation, convertible senior notes and capped call options:

  • Non-GAAP net income is adjusted to exclude the expenses relating to changes in fair value of convertible senior notes and capped call options, interest expenses of convertible senior notes, exchange gain on the convertible senior notes and capped call options, stock-based compensation, allocation of net income to redeemable non-controlling interests, and accretion to redemption value of redeemable non-controlling interests; given these Non-GAAP net income adjustments above are either related to the Company or its subsidiaries incorporated in Cayman Islands, which are not subject to tax exposures, or related to those subsidiaries with tax loss positions which result in no tax impacts, therefore no tax adjustment is needed in conjunction with these Non-GAAP net income adjustments; and
  • Non-GAAP earnings per Share and non-GAAP earnings per ADS are adjusted to exclude the expenses relating to the issuance costs of convertible senior notes, changes in fair value of convertible senior notes and capped call options, interest expenses of convertible senior notes and exchange gain on the convertible senior notes and capped call options, stock-based compensation, and accretion to redemption value of redeemable non-controlling interests.

The Company believes that the use of non-GAAP information is useful for analysts and investors to evaluate JinkoSolar's current and future performances based on a more meaningful comparison of net income and diluted net income per ADS when compared with its peers and historical results from prior periods. These measures are not intended to represent or substitute numbers as measured under GAAP. The submission of non-GAAP numbers is voluntary and should be reviewed together with GAAP results.

Currency Convenience Translation

The conversion of Renminbi into U.S. dollars in this release, made solely for the convenience of the readers, is based on the noon buying rate in the city of New York for cable transfers of Renminbi as certified for customs purposes by the Federal Reserve Bank of New York as of December 29, 2017, which was RMB6.5063 to US$1.00. No representation is intended to imply that the Renminbi amounts could have been, or could be, converted, realized, or settled into U.S. dollars at that rate or any other rate. The percentages stated in this press release are calculated based on Renminbi.

Safe-Harbor Statement

This press release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends, "plans," "believes," "estimates" and similar statements. Among other things, the quotations from management in this press release and the Company's operations and business outlook, contain forward-looking statements. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Further information regarding these and other risks is included in JinkoSolar's filings with the U.S. Securities and Exchange Commission, including its annual report on Form 20-F. Except as required by law, the Company does not undertake any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.

For investor and media inquiries, please contact:

In China:
Sebastian Liu
JinkoSolar Holding Co., Ltd.
Tel: +86 21-5183-3056
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

Christian Arnell
Christensen
Tel: +86-10-5900-2940
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

In the U.S.:
Ms. Linda Bergkamp
Christensen
Tel: +1-480-614-3004
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

JINKOSOLAR HOLDING CO., LTD. 

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(in thousands, except ADS and Share data)

   
 

2016

 

2017

 Continuing operations 

RMB

 

RMB

 

USD

 Revenues from third parties 

21,262,113

 

24,791,272

 

3,810,349

           

 Revenues from related parties 

138,525

 

1,681,671

 

258,468

           

 Total revenues 

21,400,638

 

26,472,943

 

4,068,817

           

 Cost of revenues 

(17,531,299)

 

(23,481,375)

 

(3,609,021)

           

 Gross profit 

3,869,339

 

2,991,568

 

459,796

           

 Operating expenses: 

         

   Selling and marketing 

(1,434,039)

 

(1,901,358)

 

(292,233)

   General and administrative 

(779,567)

 

(470,845)

 

(72,368)

   Research and development 

(181,106)

 

(294,103)

 

(45,203)

   Impairment of long-lived assets 

(125,524)

 

-

 

-

 Total operating expenses 

(2,520,236)

 

(2,666,306)

 

(409,804)

           

 Income from operations 

1,349,103

 

325,262

 

49,992

 Interest expenses, net 

(359,296)

 

(245,530)

 

(37,737)

 Change in fair value of derivative liability 

24,573

 

(16,122)

 

(2,478)

 Subsidy income 

168,647

 

147,917

 

22,734

 Exchange gain/(loss), net 

208,811

 

(114,345)

 

(17,575)

 Change in fair value of forward contracts 

(52,562)

 

(8,211)

 

(1,262)

 Change in fair value of convertible senior notes and capped call options 

(110,242)

 

-

 

-

 Other income, net 

8,768

 

59,647

 

9,168

 Investment income 

4,902

 

-

 

-

 Gain on disposal of subsidiaries 

5,018

 

257

 

40

 Income from continuing operations before income taxes  

1,247,722

 

148,875

 

22,882

 Income tax expense 

(257,487)

 

(4,627)

 

(711)

 Equity in income of affiliated companies 

-

 

(2,056)

 

(316)

 Income from continuing operations,  net of tax 

990,235

 

142,192

 

21,855

 Discontinued operations 

         

 Gain on disposal of discontinued operations 

1,007,884

 

-

 

-

 Income from discontinued operations before income taxes    

48,146

 

-

 

-

 Income tax expense, net 

(54,466)

 

-

 

-

Income from discontinued operations, net of tax

1,001,564

 

-

 

-

 Net income 

1,991,799

 

142,192

 

21,855

 Less: Net (loss)/income attributable to non-controlling
          interests from continuing operations 

(433)

 

486

 

75

 Less: Net income attributable to non-controlling
          interests from discontinued operations 

6,044

 

-

 

-

 Less: Accretion to redemption value of redeemable non-controlling
          interests of discontinued operations 

159,478

 

-

 

-

           

 Net income attributable to JinkoSolar Holding Co., Ltd.'s ordinary
shareholders 

1,826,710

 

141,706

 

21,780

           

 Earnings per share for ordinary shareholders, basic 

         

 Continuing operations 

7.87

 

1.10

 

0.17

 Discontinued operations 

6.64

 

-

 

-

 Total earnings per share for ordinary shareholders, basic 

14.51

 

1.10

 

0.17

           

 Earnings per share for ordinary shareholders, diluted 

         

 Continuing operations 

7.63

 

1.08

 

0.17

 Discontinued operations 

6.40

 

-

 

-

 Total earnings per share for ordinary shareholders, diluted 

14.03

 

1.08

 

0.17

           

 Earnings per ADS for ordinary shareholders, basic 

         

 Continuing operations 

31.48

 

4.40

 

0.68

 Discontinued operations 

26.56

 

-

 

-

 Total earnings per ADS for ordinary shareholders, basic 

58.04

 

4.40

 

0.68

           

 Earnings per ADS for ordinary shareholders, diluted 

         

 Continuing operations 

30.52

 

4.32

 

0.68

 Discontinued operations 

25.60

 

-

 

-

 Total earnings per ADS for ordinary shareholders, diluted 

56.12

 

4.32

 

0.68

           

 Weighted average ordinary shares outstanding: 

         

   Basic 

125,870,272

 

128,944,330

 

128,944,330

   Diluted 

130,590,441

 

131,687,230

 

131,687,230

           

 Weighted average ADS outstanding: 

         

   Basic 

31,467,568

 

32,236,083

 

32,236,083

   Diluted 

32,647,610

 

32,921,808

 

32,921,808

           
           

UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

           

 Net income 

1,991,799

 

142,192

 

21,855

 Other comprehensive income/(loss): 

         

   -Foreign currency translation adjustments 

92,202

 

(81,488)

 

(12,525)

 Comprehensive income 

2,084,001

 

60,704

 

9,330

 Less: comprehensive income attributable to non-controlling interests  

5,611

 

486

 

75

           

 Comprehensive income attributable to JinkoSolar Holding Co., Ltd.'s
ordinary shareholders 

2,078,390

 

60,218

 

9,255

           

 Reconciliation of GAAP and non-GAAP Results(Excluding discontinued operations) 

       
           

 1. Non-GAAP earnings per share and non-GAAP earnings per ADS 

         
           

 GAAP net income attributable to ordinary shareholders from continuing
operations 

990,668

 

141,706

 

21,780

           

 Change in fair value of convertible senior notes and capped call options 

110,242

 

-

 

-

           

 4% of interest expense of convertible senior notes 

37,177

 

1,558

 

239

           

 Exchange loss on convertible senior notes and capped call options 

42,713

 

840

 

129

           

 Stock-based compensation expense 

89,568

 

64,868

 

9,970

           

 Non-GAAP net income attributable to ordinary shareholders from
continuing operations  

1,270,368

 

208,972

 

32,118

           
           

 Non-GAAP earnings per share attributable to ordinary shareholders from
continuing operations - 

         

   Basic 

10.09

 

1.62

 

0.25

   Diluted 

9.73

 

1.59

 

0.24

           

 Non-GAAP earnings per ADS attributable to ordinary shareholders from continuing operations- 

         

   Basic 

40.36

 

6.48

 

1.00

   Diluted 

38.92

 

6.36

 

0.96

           

 Non-GAAP weighted average ordinary shares outstanding  

         

   Basic 

125,870,272

 

128,944,330

 

128,944,330

   Diluted 

130,590,441

 

131,687,230

 

131,687,230

           

 Non-GAAP weighted average ADS outstanding  

         

   Basic 

31,467,568

 

32,236,083

 

32,236,083

   Diluted 

32,647,610

 

32,921,808

 

32,921,808

           

Results presented herein exclude Jinko Power-related discontinued operations, unless specified otherwise

JINKOSOLAR HOLDING CO., LTD. 

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(in thousands, except ADS and Share data)

 

For the quarter ended

 

December 31, 2016

 

September 30, 2017

 

December 31, 2017

 Continuing operations 

RMB

 

RMB

 

RMB

 

USD

 Revenues from third parties 

5,085,938

 

5,958,121

 

5,171,540

 

794,851

               

 Revenues from related parties 

35,565

 

461,292

 

1,181,100

 

181,532

               

 Total revenues 

5,121,503

 

6,419,413

 

6,352,640

 

976,383

               

 Cost of revenues 

(4,391,518)

 

(5,647,016)

 

(5,617,326)

 

(863,367)

               

 Gross profit 

729,985

 

772,397

 

735,314

 

113,016

               

 Operating expenses: 

             

   Selling and marketing 

(350,662)

 

(489,767)

 

(446,956)

 

(68,696)

   General and administrative 

(221,810)

 

(116,121)

 

(113,744)

 

(17,482)

   Research and development 

(57,231)

 

(74,652)

 

(83,271)

 

(12,798)

   Impairment of long-lived assets 

(22,377)

 

-

 

-

 

-

 Total operating expenses 

(652,080)

 

(680,540)

 

(643,971)

 

(98,976)

               

 Income from operations 

77,905

 

91,857

 

91,343

 

14,040

 Interest expenses, net 

(74,538)

 

(52,286)

 

(55,551)

 

(8,538)

 Change in fair value of derivative liability 

(10,364)

 

(3,437)

 

3,333

 

512

 Subsidy income 

81,222

 

14,154

 

29,533

 

4,539

 Exchange gain/(loss) 

17,674

 

(46,368)

 

(31,827)

 

(4,892)

 Change in fair value of forward contracts 

19

 

(2,946)

 

(2,031)

 

(312)

 Change in fair value of convertible senior
   notes and capped call options 

(14,712)

 

-

 

-

 

-

 Other income, net 

9,437

 

15,109

 

20,823

 

3,200

 Gain on disposal of subsidiaries 

5,018

 

-

 

257

 

40

 Investment income 

4,812

 

-

 

-

 

-

 Income from continuing operations before income taxes

96,473

 

16,083

 

55,880

 

8,589

 Income tax benefit/(expense) 

49,200

 

(4,466)

 

(31,095)

 

(4,779)

 Equity in income of affiliated companies 

-

 

(438)

 

(1,424)

 

(219)

Income from continuing operations, net of tax

145,673

 

11,179

 

23,361

 

3,591

 Discontinued operations 

             

 Gain on disposal of discontinued operations 

1,007,884

 

-

 

-

 

-

(Loss)/income from discontinued operations before income taxes   

(97,396)

 

-

 

-

 

-

Income tax expense, net

(53,020)

 

-

 

-

 

-

Income from discontinued operations, net of tax

857,468

 

-

 

-

 

-

               

 Net income 

1,003,141

 

11,179

 

23,361

 

3,591

 Less: Net (loss)/income attributable to non-controlling
          interests from continuing operations 

(123)

 

(113)

 

889

 

137

 Less: Net income attributable to non-controlling
          interests from discontinued operations 

761

 

-

 

-

 

-

 Less: Allocation of net income to participating preferred shares issued
          by discontinued operations 

(13,895)

 

-

 

-

 

-

 Less: Accretion to redemption value of redeemable non-controlling
          interests of discontinued operations 

16,776

 

-

 

-

 

-

 Net income attributable to JinkoSolar
 Holding Co., Ltd.'s ordinary shareholders 

999,622

 

11,292

 

22,472

 

3,454

               
               
               
               

 Earnings per share for ordinary shareholders, basic 

             

 Continuing operations 

1.15

 

0.09

 

0.17

 

0.03

 Discontinued operations 

6.75

 

-

 

-

 

-

 Total earnings per share for ordinary shareholders, basic 

7.90

 

0.09

 

0.17

 

0.03

               
               

 Earnings per share for ordinary shareholders, diluted 

             

 Continuing operations 

1.14

 

0.08

 

0.17

 

0.03

 Discontinued operations 

6.68

 

-

 

-

 

-

 Total earnings per share for ordinary shareholders, diluted 

7.82

 

0.08

 

0.17

 

0.03

               

 Earnings per ADS for ordinary shareholders, basic 

             

 Continuing operations 

4.60

 

0.36

 

0.68

 

0.12

 Discontinued operations 

27.00

 

-

 

-

 

-

 Total earnings per ADS for ordinary shareholders, basic 

31.60

 

0.36

#

0.68

 

0.12

               

 Earnings per ADS for ordinary shareholders, diluted 

             

 Continuing operations 

4.56

 

0.32

 

0.68

 

0.12

 Discontinued operations 

26.72

 

-

 

-

 

-

 Total earnings per ADS for ordinary shareholders, diluted 

31.28

 

0.32

 

0.68

 

0.12

               

 Weighted average ordinary shares outstanding: 

             

   Basic 

126,412,714

 

130,186,074

 

130,432,074

 

130,432,074

   Diluted 

127,872,331

 

134,413,564

 

134,572,596

 

134,572,596

               

 Weighted average ADS outstanding: 

             

   Basic 

31,603,178

 

32,546,519

 

32,608,019

 

32,608,019

   Diluted 

31,968,083

 

33,603,391

 

33,643,149

 

33,643,149

               
               

UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

               

 Net income 

1,003,141

 

11,179

 

23,361

 

3,591

 Other comprehensive income: 

             

   -Foreign currency translation adjustments 

108,078

 

(25,226)

 

(16,308)

 

(2,507)

 Comprehensive income/(loss) 

1,111,219

 

(14,047)

 

7,053

 

1,084

 Less: Comprehensive income/(loss) attributable to non-
controlling interests 

638

 

(113)

 

889

 

137

 Less:Allocation of net income to participating preferred shares
issued by discontinued operations 

(13,895)

 

-

 

-

 

-

 Comprehensive income/(loss) attributable to JinkoSolar
Holding Co., Ltd.'s ordinary shareholders 

1,124,476

 

(13,934)

 

6,164

 

947

               
               
               

 Reconciliation of GAAP and non-GAAP Results(Excluding discontinued operations) 

           
               

 1. Non-GAAP earnings per share and non-GAAP earnings per
ADS 

             
               

 GAAP net income attributable to ordinary shareholders from
continuing operations 

145,796

 

11,292

 

22,472

 

3,454

               

 Change in fair value of convertible senior notes and capped
call options 

14,712

 

-

 

-

 

-

               

 4% of interest expense of convertible senior notes 

5,180

 

1

 

1

 

-

               

 Exchange loss/(gain) on convertible senior notes and capped
call options 

18,536

 

(1)

 

(1)

 

-

               

 Stock-based compensation expense 

33,987

 

14,645

 

19,000

 

2,920

               

 Non-GAAP net income attributable to ordinary shareholders
from continuing operations 

218,211

 

25,937

 

41,472

 

6,374

               

 Non-GAAP earnings per share attributable to ordinary
shareholders from continuing operations - 

             

   Basic 

1.81

 

0.20

 

0.32

 

0.05

   Diluted 

1.79

 

0.19

 

0.31

 

0.05

               

 Non-GAAP earnings per ADS attributable to ordinary shareholders from continuing operations - 

             

   Basic 

7.24

 

0.80

 

1.28

 

0.20

   Diluted 

7.16

 

0.76

 

1.24

 

0.20

               

 Non-GAAP weighted average ordinary shares outstanding  

             

   Basic 

126,412,714

 

130,186,074

 

130,432,074

 

130,432,074

   Diluted 

127,872,331

 

134,413,564

 

134,572,596

 

134,572,596

               

 Non-GAAP weighted average ADS outstanding  

             

   Basic 

31,603,178

 

32,546,519

 

32,608,019

 

32,608,019

   Diluted 

31,968,083

 

33,603,391

 

33,643,149

 

33,643,149

               

Results presented herein exclude Jinko Power-related discontinued operations, unless specified otherwise

JINKOSOLAR HOLDING CO., LTD. 

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

(in thousands)

 
 

December 31, 2016

 

December 31, 2017

 

RMB

 

RMB

 

USD

ASSETS

         

Current assets:

         

  Cash and cash equivalents

2,501,417

 

1,928,303

 

296,375

  Restricted cash 

318,785

 

833,072

 

128,041

  Restricted short-term investments

3,333,450

 

3,237,773

 

497,636

  Short-term investments

71,301

 

2,685

 

413

  Accounts receivable, net - related parties

1,414,084

 

2,113,042

 

324,769

  Accounts receivable, net - third parties

4,753,715

 

4,497,635

 

691,274

  Notes receivable, net - related parties

610,200

 

-

 

-

  Notes receivable, net - third parties

915,315

 

571,232

 

87,797

  Advances to suppliers, net - related parties

662

 

-

 

-

  Advances to suppliers, net - third parties

325,766

 

397,076

 

61,029

  Inventories, net

4,473,515

 

4,273,730

 

656,860

  Forward contract receivables

641

 

-

 

-

  Deferred tax assets 

130,676

 

-

 

-

  Other receivables - related parties

79,125

 

46,592

 

7,161

  Prepayments and other current assets

766,645

 

1,706,717

 

262,317

Total current assets

19,695,297

 

19,607,857

 

3,013,672

           

Non-current assets:

         

  Restricted cash

197,214

 

248,672

 

38,220

  Project Assets

55,063

 

473,731

 

72,811

  Long-term investments

7,200

 

22,322

 

3,431

  Property, plant and equipment, net

4,738,681

 

6,680,187

 

1,026,726

  Land use rights, net

450,941

 

443,269

 

68,129

  Intangible assets, net

20,297

 

25,743

 

3,956

  Deferred tax assets 

134,791

 

275,372

 

42,324

  Other assets - related parties

173,376

 

146,026

 

22,444

  Other assets - third parties

617,780

 

713,226

 

109,621

Total non-current assets

6,395,343

 

9,028,548

 

1,387,662

           

Total assets

26,090,640

 

28,636,405

 

4,401,334

           

LIABILITIES

         

Current liabilities:

         

  Accounts payable - related parties

-

 

5,329

 

819

  Accounts payable - third parties

4,290,071

 

4,658,202

 

715,952

  Notes payable - third parties

4,796,766

 

5,672,497

 

871,847

  Accrued payroll and welfare expenses

582,276

 

721,380

 

110,874

  Advances from related parties

60,541

 

37,400

 

5,748

  Advances from third parties

1,376,919

 

748,959

 

115,113

  Income tax payable

168,112

 

27,780

 

4,270

  Other payables and accruals

1,019,419

 

1,804,799

 

277,391

  Other payables due to related parties

76,034

 

12,333

 

1,896

  Forward contract payables

-

 

4,521

 

695

  Convertible senior notes - current

423,740

 

-

 

-

  Deferred tax liabilities 

17,074

 

-

 

-

  Derivative liability -  current

10,364

 

26,486

 

4,071

  Bond payable and accrued interests

-

 

10,257

 

1,576

  Short-term borrowings from third parties,
     including current portion of long-term bank
     borrowings

5,488,629

 

6,204,440

 

953,605

  Guarantee liabilities to related parties

52,711

 

28,034

 

4,309

Total current liabilities

18,362,656

 

19,962,417

 

3,068,166

           

Non-current liabilities:

         

  Long-term borrowings

488,520

 

379,789

 

58,373

  Accrued income tax - non current

-

 

6,041

 

928

  Long-term payables

44,015

 

538,410

 

82,753

  Bond payables

-

 

298,425

 

45,867

  Accrued warranty costs - non current

511,209

 

571,718

 

87,871

  Convertible senior notes

-

 

65

 

10

  Deferred tax liability

50,651

 

70,122

 

10,778

  Guarantee liabilities to related parties 
   - non current

173,376

 

120,154

 

18,467

Total non-current liabilities

1,267,771

 

1,984,724

 

305,047

           

Total liabilities

19,630,427

 

21,947,141

 

3,373,213

           

SHAREHOLDERS' EQUITY

         

Ordinary shares (US$0.00002 par value,

500,000,000 shares authorized, 126,733,266 and 
132,146,074 shares issued and outstanding as of 
December 31, 2016 and December 31, 2017,
respectively)

18

 

 

 

19

 

 

 

3

 

 

Additional paid-in capital

3,145,262

 

3,313,608

 

509,292

Statutory reserves

466,253

 

516,886

 

79,444

Accumulated other comprehensive income

104,784

 

23,296

 

3,580

Treasury stock, at cost; 1,723,200 ordinary shares as
of December 31, 2016 and December 31,
2017

(13,876)

 

 

(13,876)

 

 

(2,132)

 

Accumulated retained earnings

2,758,268

 

2,849,341

 

437,936

           

Total JinkoSolar Holding Co., Ltd. shareholders'
equity

6,460,709

 

6,689,274

 

1,028,123

           

Non-controlling interests

(496)

 

(10)

 

(2)

           

Total liabilities and shareholders' equity

26,090,640

 

28,636,405

 

4,401,334

Cision View original content:http://www.prnewswire.com/news-releases/jinkosolar-announces-fourth-quarter-and-full-year-2017-financial-results-300618102.html

SOURCE JinkoSolar Holding Co., Ltd.

Read more: JinkoSolar Announces Fourth Quarter and Full...

SHANGHAI, Feb. 12, 2018 /PRNewswire/ -- JinkoSolar Holding Co., Ltd. ("JinkoSolar" or the "Company") (NYSE: JKS), a global leader in the solar PV industry, today announced that it closed the follow-on offering of 3,600,000 American depositary shares (the "ADSs"), each representing four ordinary shares of the Company, par value US$0.00002 per share  (the "ADS Offering"), at US$18.15 per ADS.

Credit Suisse Securities (USA) LLC and Barclays Capital Inc. are acting as the joint bookrunners for the ADS Offering. The Company has granted Credit Suisse Securities (USA) LLC and Barclays Capital Inc. a 30-day option to purchase up to 540,000 additional ADSs to cover over-allotments.

Concurrently with the completion of the ADS Offering, the Company closed the separate private placement with Tanka International Limited, an exempted company incorporated in the Cayman Islands held by Mr. Xiande Li, chairman of the Company, and Mr. Kangping Chen, chief executive officer of the Company, of its purchase of US$35 million of ordinary shares of the Company at a price per share equal to the price of the ADS Offering adjusted to reflect the ADS-to-ordinary share ratio (the "Concurrent Private Placement"). The sale of these shares will not be registered under the Securities Act of 1933, as amended. Credit Suisse Securities (USA) LLC and Barclays Capital Inc. are acting as the joint placement agents for the Concurrent Private Placement.

JinkoSolar intends to use the net proceeds from the ADS Offering and the Concurrent Private Placement for general corporate purposes, including capital expenditures for the capacity expansion and upgrade including the construction and operation of our manufacturing facility in the United States, and working capital.

The ADS Offering has been made pursuant to the Company's shelf registration statement on a Form F-3 filed with the Securities and Exchange Commission (the "SEC") on August 11, 2017, which became effective on August 22, 2017. A prospectus supplement dated February 8, 2018 and a related base prospectus (included in the Company's shelf registration statement on Form F-3) related to the ADS Offering have been filed with the SEC and are available at the SEC website at: www.sec.gov. A copy of the prospectus supplement and the related base prospectus may be obtained from Credit Suisse Securities (USA) LLC, Attention: Prospectus Department, One Madison Avenue, New York, NY, 10010, by phone at (800) 221-1037, or by e-mail at This email address is being protected from spambots. You need JavaScript enabled to view it.; and Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, by phone toll free at 1-888-603-5847, or by email at This email address is being protected from spambots. You need JavaScript enabled to view it..

This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities, nor will there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction. This press release contains information about the pending ADS Offering and Concurrent Private Placement, and there can be no assurance that these offerings will be completed.

About JinkoSolar Holding Co., Ltd.

JinkoSolar (NYSE: JKS) is a global leader in the solar industry. JinkoSolar distributes its solar products and sells its solutions and services to a diversified international utility, commercial and residential customer base in China, the United States, Japan, Germany, the United Kingdom, Chile, South Africa, India, Mexico, Brazil, United Arab Emirates, Italy, Spain, France, Belgium, and other countries and regions. JinkoSolar has built a vertically integrated solar product value chain, with an integrated annual capacity of 8.0 GW for silicon wafers, 5.0 GW for solar cells, and 8.0 GW for solar modules, as of December 31, 2017.

JinkoSolar has over 15,000 employees across its 8 productions facilities globally, 16 oversea subsidiaries in Japan (2), Singapore, India, Turkey, Germany, Italy, Switzerland, United States, Canada, Mexico, Brazil, Chile, Australia, South Africa and United Arab Emirates, and global sales offices in China, Hong Kong, Japan, India, Turkey, Germany, Switzerland, United States, Brazil, Chile, Australia, South Africa and United Arab Emirates.

To find out more, please see: www.jinkosolar.com

Safe Harbor Statement

This press release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends, "plans," "believes," "estimates" and similar statements. Among other things, the quotations from management in this press release and the Company's operations and business outlook, contain forward-looking statements. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Further information regarding these and other risks is included in JinkoSolar's filings with the U.S. Securities and Exchange Commission, including its annual report on Form 20-F. Except as required by law, the Company does not undertake any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.

For investor and media inquiries, please contact:

In China: 
Sebastian Liu
JinkoSolar Holding Co., Ltd.
Tel: +86 21-5183-3056
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

Christian Arnell
Christensen
Tel: +86-10-5900-2940
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

In the U.S.:
Ms. Linda Bergkamp
Christensen
Tel: +1-480-614-3004
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

Cision View original content:http://www.prnewswire.com/news-releases/jinkosolar-announces-closing-of-follow-on-offering-of-3600000-american-depositary-shares-and-us35-million-concurrent-private-placement-300596880.html

SOURCE JinkoSolar Holding Co., Ltd.

Read more: JinkoSolar Announces Closing of Follow-on...

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