JinkoSolar Addresses Environmental Concerns Related to its Zhejiang Jinko Facility
SHANGHAI, September 19, 2011 / -- JinkoSolar Holding Co., Ltd. (“JinkoSolar” or the “Company") (NYSE: JKS), a fast-growing, vertically-integrated PV manufacturer with production facilities in China, today addressed environmental concerns related to its facility in Haining city, Zhejiang Province, China.
Recent reports indicate that Zhejiang Jinko Co., Ltd. (“Zhejiang Jinko”), a subsidiary of JinkoSolar, discharged a small amount of solid waste containing fluoride into a nearby brook. In response to the concerns of local residents and in full cooperation with the local government’s investigation, Zhejiang Jinko has temporarily suspended production at its facility in Haining until the impact of any possible environmental damage has been assessed and remedied. An initial investigation conducted by the local environmental protection authority indicates that the issue may have been caused by the company’s transitory storage of waste as it sought a new waste management contactor to comply with the environmental authority’s latest policy.
During this time, unexpected and extreme rain conditions may have caused a small amount of waste containing fluoride to flow into the nearby brook via the factory’s drainage system.
This unfortunate incident has greatly impacted the management team of JinkoSolar. The Company takes pride in its environmental compliances, and has met or exceeded all requirements for ISO 14001 certification. Additionally, JinkoSolar ensures that all its factories are equipped with state of the art machines designed for minimal environmental impact. The Company’s investigation team is carrying out an in-depth examination of the Zhejiang factory to identify the root cause of the incident and is also seeking a third party agency to conduct joint investigations.
The halt in production is not expected to have material impact on JinkoSolar’s operations and module delivery commitment to its customers. JinkoSolar’s main factory in Shangrao, Jiangxi, is in full operation and has enough stocks to keep producing and meet customer demands. The Company will update the market as the situation evolves.
JinkoSolar Holding Co., Ltd. (NYSE: JKS) is a fast-growing, vertically-integrated solar power product manufacturer with low-cost operations based in Jiangxi Province and Zhejiang Province in China and sales and marketing offices in Shanghai, China, Munich, Germany, San Francisco, U.S. and Bologna, Italy. JinkoSolar has built a vertically-integrated solar product value chain with an integrated annual capacity of 900 MW each for silicon wafers, solar cells and solar modules as of March 31, 2011. JinkoSolar distributes its photovoltaic products to a diversified customer base in the global PV market, including Italy, Germany, Belgium, Spain, the United States, France and other countries and regions.
Safe Harbor Statement
This press release may contain 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,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements. Such statements involve inherent 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 public filings with the Securities and Exchange Commission, including its annual report on 20-F for the fiscal year ended December 31, 2010 filed with the Securities and Exchange Commission on April 25, 2011, as amended on May 10, 2011 and September 2, 2011. All information provided in this press release is as of September 19, 2011. Except as required by law, JinkoSolar undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.
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JinkoSolar Holding Co., Ltd.
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