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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 (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 11.5 GW for mono wafers, 10.6 GW for solar cells, and 16 GW for solar modules, as of December 31, 2019.
JinkoSolar has over 15,000 employees across its 7 productions facilities globally, 14 overseas subsidiaries in Japan, 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
