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JinkoSolar Comments on U.S. Department of Commerce's Final Decision on Tariffs SHANGHAI, October 12, 2012 – JinkoSolar Holding Co., Ltd. (“JinkoSolar” or the “Company”) (NYSE: JKS), a leading global solar power product manufacturer, today commented on the U.S. Department of Commerce’s (“DOC”) final determination to impose anti-dumping duties (“AD”) of 25.96% and countervailing duties (“CVD”) of 15.24% on JinkoSolar’s crystalline silicon photovoltaic cells whether or not assembled into modules from the People’s Republic of China. “We believe that these duties are unfair and unfounded,” commented Mr. Xiande Li, Chairman of JinkoSolar. “The ruling to impose stiff duties on JinkoSolar products does not reflect the reality of the highly competitive global solar industry and will only hinder the development of the entire PV industry. It will ultimately end up hurting US consumers, slow down the roll-out of green energy and limit job creation. Ill-conceived unilateral trade barriers such as these will reduce solar’s competitiveness against other forms of electricity generation. However, the tariffs will not impact our global strategy and we will continue to commit ourselves to promoting the prosperity of the solar industry.” “While we respect the DOC decision, we strongly disagree with it and we will continue to actively defend our position before the International Trade Commission. Despite this setback, we believe that the impact of these tariffs on our business will be substantially limited as the United States accounted for a fairly small percentage of our total module shipments during the past twelve months. We are strongly dedicated to the success of Jinko Solar in the United States and we will soon see good results despite the inconvenience caused by the tariffs.” added Mr. Arturo Herrero, Chief Marketing Officer of JinkoSolar.
About JinkoSolar Holding Co., Ltd.
JinkoSolar (NYSE: JKS) is one of the largest and most innovative solar module manufacturers in the world. 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 17.5 GW for mono wafers, 10.6 GW for solar cells, and 16 GW for solar modules, as of March 31, 2020.
JinkoSolar has over 15,000 employees across its 7 productions facilities globally, 14 overseas subsidiaries in Japan(2), South Korea, Vietnam, India, Turkey, Germany, Italy, Switzerland, United States, Mexico, Brazil, Chile and Australia, and global sales teams in China, United Kingdom, France, Spain, Bulgaria, Greece, Ukraine, Jordan, Saudi Arabia, Tunisia, Morocco, Kenya, South Africa, Costa Rica, Colombia, Panama, Kazakhstan, Malaysia, Myanmar, Sri Lanka, Thailand, Vietnam, Poland and Argentina.
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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:
Ms. Ripple Zhang
JinkoSolar Holding Co., Ltd.
Tel: +86 21-5183-3105
Email: pr@kbmyaudio.com
