JinkoSolar Holding Co., Ltd. Q4 2013 Earnings Call Presentation Mar 3, 2014.

Slides:



Advertisements
Similar presentations
1 FIRST QUARTER 2009 INVESTOR CONFERENCE CALL. 2 Today ’ s Hosts Steve Romano Chairman & Chief Executive Officer Jim Baumgardner President & Chief Operating.
Advertisements

1 ICON Quarter 1, 2009 Results ended March 31, 2009 Dr. John Climax, Chairman Mr. Peter Gray, CEO Mr. Ciaran Murray, CFO.
JinkoSolar Holding Co., Ltd. Q Earnings Call Presentation June 7, 2013.
1 ICON Quarter 2, 2009 Results ended June 30, 2009 Dr. John Climax, Chairman Mr. Peter Gray, CEO Mr. Ciaran Murray, CFO.
© 2013 Sri U-Thong Limited. All rights reserved. This presentation has been prepared by Sri U-Thong Limited and its holding company (collectively, “Sri.
2013 LUXOFT AND/OR ITS AFFILIATES. ALL RIGHTS RESERVED.1 1 SOFTWARE ENGINEERING TECHNOLOGY AUTOMOTIVE TRAVEL AND AVIATION ENERGYTELECOM FINANCIAL SERVICES.
Q Results. 2 Disclaimer This presentation does not constitute or form part of, and should not be construed as, any offer for sale of, or solicitation.
Saxo Bank OUTLOOK 2011 Saxo Bank’s HQ in Copenhagen June 24, 2015.
1 December 2003 Quarter Earnings January 20, 2004.
Western Financial Group 2008 Year End Financial Results Conference Call March 20, 2009.
Western Financial Group Q Financial Results Conference Call August 18, 2009.
Second Quarter Results Ended June 30, This presentation contains statements, including statements about future plans and expectations, which constitute.
Western Financial Group 2009 Year End Financial Results Conference Call March 17, 2010.
August 11, 2009 Second Quarter 2009 Earnings Review.
Grattan Institute / MEI Energy Futures Event Dr Fiona Wild Vice President, Environment and Climate Change 5 March 2015 Newman, Iron Ore.
May 13, 2009 First Quarter 2009 Earnings Review. Highlights  First quarter 2009 net sales of $46.6 million -- within the Company’s forecasted range 
FY09 Q3 Conference Call April 21, Forward-Looking Statement Page 1 Statements in this release that are not historical are forward-looking and are.
1 4Q 2003 Earnings October 21, Safe Harbor Statement This presentation contains forward-looking statements within the meaning of the federal securities.
ABLE LABORATORIES, INC.. Safe Harbor Statement Except for historical facts, the statements in this presentation, as well as oral statements or other written.
SAFE HARBOR Certain statements contained in this presentation regarding Rick's Cabaret future operating results or performance or business plans or prospects.
1 April 22, Q 2003 Earnings. 2 Safe Harbor Statement This presentation contains forward-looking statements within the meaning of the federal securities.
Western Financial Group Q Financial Results Conference Call November 16, 2009.
Q Earnings April 29, 2011 Bill Lucia, CEO Walter Hosp, CFO.
First Quarter Results Ended March 31, This presentation contains statements, including statements about future plans and expectations, which constitute.
Third Quarter Results Ended September 30, This presentation contains statements, including statements about future plans and expectations, which.
JinkoSolar Holding Co., Ltd. Q Earnings Call Presentation Nov 18, 2013.
1 ICON Quarter 4, 2008 Results ended December 31, 2008 Dr. John Climax, Chairman Mr. Peter Gray, CEO Mr. Ciaran Murray, CFO.
1 ICON Quarter 3, 2008 Results ended September 30, 2008 Dr. John Climax, Chairman Mr. Peter Gray, CEO Mr. Ciaran Murray, CFO.
The Professional’s Source for Turf Care First Quarter /29/04.
FY 2006 results presentation X5 Retail Group N.V. March 1, 2007.
FOURTH QUARTER AND YEAR END 2012 RESULTS. The following is a Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This press.
First Quarter 2013 Earnings Conference Call April 18, 2013.
January 21, 2004 First Fiscal Quarter Earnings Conference.
1 3Q 2003 Earnings July 22, Safe Harbor Statement This presentation contains forward-looking statements within the meaning of the federal securities.
THIRD QUARTER 2012 RESULTS.  Year-over-year revenue growth of 5.5% to $32.0 million, at the high end range of guidance  Adjusted fully diluted EPS of.
2013 LUXOFT AND/OR ITS AFFILIATES. ALL RIGHTS RESERVED.1 1 SOFTWARE ENGINEERING TECHNOLOGY AUTOMOTIVE TRAVEL AND AVIATION ENERGYTELECOM FINANCIAL SERVICES.
INFINITY PROPERTY & CASUALTY CORPORATION 1 st Quarter 2013 Earnings Webcast May 9, 2013.
October 2012 Admission of professional participants – non-credit institutions to trading on the Moscow Exchange FX market.
FOURTH QUARTER AND FULL YEAR 2013 RESULTS March 13, 2014.
FIBI FIRST INTERNATIONAL BANK OF ISRAEL Overview 31/3/16.
Western Financial Group Q Financial Results Conference Call November 13, 2006.
Summary of financial results for the period 1-6/2017
Results for Three Months and Six Months Ended September 30, 2013
First Quarter Fiscal Year 2009 Financial Results December 19, 2008
JinkoSolar Holding Co., Ltd.
JinkoSolar Holding Co., Ltd.
JinkoSolar Holding Co., Ltd.
JinkoSolar Holding Co., Ltd.
Summary of financial results for the period 1-12/2016
Investor Presentation Acquisition of Folsom Lake Bank April 27, 2017
Western Financial Group Q Financial Results Conference Call
2018 Second Quarter Results NASDAQ: fult
2nd Quarter 2016 Earnings Call
FIBI FIRST INTERNATIONAL BANK OF ISRAEL Overview 31/3/16.
First Quarter Fiscal Year 2016
Pamplona Credit Opportunities Fund
Annual Meeting of Stockholders Tuesday, May 22, 2018
4th Quarter 2016 Earnings Call
ICON Quarter 3, 2009 Results ended September 30, 2009
Liberty Interactive Corporation Q3-11 Earnings Call November 8, 2011
2018 FIRST Quarter Results NASDAQ: fult
2018 and fourth Quarter Results NASDAQ: fult
2018 THIRd Quarter Results NASDAQ: fult
4Q 2018 Earnings Presentation
© 2013 Sri U-Thong Limited. All rights reserved
LI-CHENG ENTERPRISE CO.,LTD
2015 Annual Meeting April 30, 2015.
Q4 Financial Performance
Data as of September 30, 2019 unless otherwise noted
Presentation transcript:

JinkoSolar Holding Co., Ltd. Q Earnings Call Presentation Mar 3, 2014

Disclaimer This presentation does not constitute an offer to sell or issue or the solicitation of an offer to buy or acquire securities of JinkoSolar Holding Co., Ltd. (the “Company”) in any jurisdiction or an inducement to enter into investment activity, nor may it or any part of it form the basis of or be relied on in connection with any contract or commitment whatsoever. The information herein has been prepared by the Company solely for use in this presentation. The information contained in this presentation has not been independently verified. No representation, warranty or undertaking, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or the opinions contained herein. None of the Company or any of its affiliates, advisors or representatives will be liable (in negligence or otherwise) for any loss howsoever arising from any use of this presentation or its contents or otherwise arising in connection with the presentation. By attending this presentation, participants agree not to remove this document, or any materials provided in connection herewith, from the conference room where such documents are provided. Participants agree further not to photograph, copy or otherwise reproduce these materials in any form or pass on these materials to any other person for any purpose, during the presentation or while in the conference room. Participants must return this presentation and all others materials provided in connection herewith to the Company at the completion of the presentation. This presentation may contain forward-looking statements and management may make additional forward-looking statements in response to your questions. These statements are made under the ''safe harbor'' provisions of the U.S. Private Securities Litigation Reform Act of These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “confident” and similar statements. Statements that are not historical facts, including statements concerning our beliefs, forecasts, estimates and expectations, are forward-looking statements. Forward- looking statements involve inherent risks and uncertainties that could cause actual results to differ materially from those projected or anticipated, including risks related to: the risk that our results of operations may fluctuate from period to period; the risk of PRC governmental policy changes; the risk that we face intense competition from other solar companies; the risk that PRC economic, political and social conditions as well as government policies can affect our business and other risks outlined in our public filings with the Securities and Exchange Commission, including our registration statement on Form F-1, as amended. The forward-looking statements made in this presentation relate only to events or information as of the date on which the statements are made in this presentation. Except as required by law, we undertake 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. 1

Financial Highlights and Outlook 2 Q3 2013A Q4 2013A Q1 2014E FY2013 Capacity (MW) 1,500 – wafer 1,500 – cell 1,800 – module 1,500 – wafer 1,500 – cell 2,000 – module 2,000 – wafer 2,000 – cell 2,100 – module 1,500 – wafer 1,500 – cell 2,000 – module Shipments (MW) ( 6.1% QoQ ) ( 13% QoQ ) 440 – 470(module) 1,933.1 ( 62.7% YoY ) Revenues (US$ in millions) $320.7 ( 11.2% QoQ ) $361.4 ( 11.5% QoQ ) - $1170 (47.6% YoY) In-house Gross Margin (%) 21.0%24.3%-- Gross Margin (%) 22.3%24.7%-20.3% Diluted Earnings/Loss per ADS (US$) JinkoSolar defines “in-house gross margin” as the gross margin of PV modules produced using the Company’s in-house produced silicon wafers and solar cells.

Capacity and Shipment Capacity (MW) Product Shipments (MW)  As of Dec 31, 2013, the Company’s in-house annual silicon wafer, solar cell and solar module production capacity was approximately 1,500MW, 1,000MW and 2,000 MW separately.  Total solar product shipments in the fourth quarter of 2013 were MW, up 13% QoQ.  Q4 solar module shipments were MW, up 8.99% QoQ. 3

Significant Cost per Watt Reduction 4 Non-silicon cost continues to decrease, mainly due to:  In-house production of certain auxiliary materials and more efficient use of other consumable materials in the production process.  Continuous improvements in operating efficiency and technological advancements. Silicon cost was flat quarter-over-quarter, mainly due to:  The stabilization in the spot price of poly silicon. In-house Cost Q Q Q Q Mono & Multi Non-Silicon Cost ($/Watt) (Including Depreciation) $0.42$0.41 $0.39 Mono & Multi Silicon Cost ($/Watt) $0.09 Total Cost ($/Watt) (Including Depreciation) $0.51$0.5 $0.48

5 Module Performance JinkoSolar’s module ranked top for performance ratio and yield (kwh/kw) in PHOTO Lab’s latest published test result. Different from tests conducted by other institutions, PHOTO Lab’s test does not only determine the total yield of each module in the test, but as calculated the monthly yield over the course of whole year. Since January 2012, JinkoSolar’s modules in the test have received either the first or the Second Best under all conditions for both individual month and accumulated. It strongly proved that JinkoSolar’s modules have the best field behavior and most reliable performance throughout the time.

6 QinghaiDelingha Ruiqida27 (1) Jan 2013 GansuGansu Longchang PV20Feb 2013 GansuGansu Jintai Electric28 (2) July 2013 QinghaiHainan South Zhongzhou PV10Sept 2013 XinjiangShaya Jingxin20Oct 2013 XinjiangWusu City Zhongjing PV20Q XinjiangAlaer JinkoSolar20Q GansuGansu Jintai Electric II28 (2) Q XinjiangBohu Jingjia Sunshine20Q XinjiangShaya Jingxin II20Q Total Project List 213 MW completed More than 400 MW expected to come online in 2014 Region Name Capacity (MW) Capacity (MW) Commercial operation date Downstream Project List (1) Jinko owns 88.7% of the 30 MW project. (2) Jinko owns 28% of the 100 MW project.

Quarterly Financial Highlights Total Revenues and Total Shipments Gross Profit and Gross Margin Operating Profit and Operating Margin Net Income/loss, Net Margin and Diluted EPS 7

P&L Summary US$ in millions US$ in millions Q3 2012* Q1 2013* Q2 2013* Q3 2013* Q4 2013* Revenues Gross Profit/(loss) Gross Margin3.8%12.7% 17.7%22.3%24.7% Operating Expenses Operating Margin(62.9)%(-1.4)%8.8%12.4%12.7% Interest Expense/(Income) Taxes Expense/(Benefit) Net Income(122.2)(20.7) Net Margin(65.2)%(11.1)%2.8%5.3%7.5% Non-GAAP Net Income(112.3)(12.1) Non-GAAP Net Margin(59.9)%(6.4)%4.2%10.0% *(Unaudited) For a discussion of the non-GAAP financial measures used in this release and the reconciliations of the GAAP financial measures to non-GAAP financial measures, please refer to the section below entitled "Use of Non-GAAP Financial Measures" and “Non-GAAP Reconciliation”. JinkoSolar adjusts net income to exclude 1) Gain on changes in fair value of convertible senior notes and capped call options, 2) Interest expenses on the convertible senior notes, and 3) The exchange gain on the convertible senior notes and capped call options.

9 US$ in millions US$ in millions Q4 2012* Q1 2013* Q2 2013* Q3 2013* Q4 2013* Cash and Restricted Cash Accounts Receivable (third parties) Inventories Advances to Suppliers (third parties) Net PP&E Total Assets1, Total Debt Short-term Borrowings (incl. current portion of long-term borrowings, and bonds payable) Long-term Borrowings Convertible Senior Notes Bond payables Total Liabilities1, Total Shareholders' Equity *(Unaudited) Balance Sheet

10 Thank you!