JinkoSolar Achieves 600 MW Integrated Capacity and 546 MW 2011 Supply Contract Backlog
SHANGHAI, Dec. 10, 2010 /PRNewswire via COMTEX/ --
JinkoSolar Holding Co., Ltd. ("JinkoSolar" or the "Company") (NYSE: JKS), a fast-growing vertically integrated solar product manufacturer with low-cost operations based in China, announced today that the Company has increased its in-house annual solar cell and solar module production capacities to approximately 600 MW each, ahead of schedule in order to meet the demand for JinkoSolar's products. To date, the Company has secured solar module supply contracts, including downpayments, totaling 546 MW for 2011, mainly from leading global solar companies.
Mr. Xiande Li, Chairman of the Board of Directors at JinkoSolar, commented, "We've ramped up our capacities just ahead of schedule and in line with our year-end integrated capacity target of 600 MW each for silicon wafers, solar cells and solar modules. This strengthens our vertical integration, which enables us to lower our average cost through economies of scale and improve product efficiencies through better control over the production process. In particular, vertical integration provides better control over non-silicon cost across the value chain, as compared to solar companies focused on one or two particular segments of the value chain, allowing us to continue delivering meaningful gross margins during market volatility. Increasing our capacity, both in terms of volume and integration, positions us well as we look to capitalize on the demand for our high-quality solar modules and expand our 2011 contracts beyond the 546 MW we have already secured."
About JinkoSolar Holding Co., Ltd.
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. JinkoSolar has built a vertically integrated solar product value chain from recovered silicon materials to solar modules. JinkoSolar's principal products are solar modules, silicon wafers and solar cells. As of June 30, 2010, JinkoSolar had an aggregate of approximately 300 customers for its solar modules, solar cells and silicon wafers from China, Germany, Hong Kong, India, Italy and other countries or regions. For more information about JinkoSolar, please visit http://www.jinkosolar.com.
Forward Looking Statements
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 involve inherent risks and uncertainties that could cause actual results to differ materially from those projected or anticipated, including risks outlined in the Company's public filings with the Securities and Exchange Commission, including the Company's registration statement on Form F-1, as amended. All information provided in this press release is as of December 10, 2010. Except as required by law, the Company 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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