JinkoSolar Raises Fourth Quarter and Full Year 2019 Guidance

PVTIME - JinkoSolar
Holding Co., Ltd. (the "Company," or "JinkoSolar") (NYSE:
JKS), one of the largest and most innovative solar module manufacturers in the
world, today raised its guidance for the fourth quarter and full year ended December
31, 2019. The raised guidance is subject to adjustments based upon
completion of the Company's internal review process. Final reported
results could differ materially from the estimates provided below.

Fourth Quarter 2019 Guidance

  • Total solar module shipments will be in the range of 4.5 gigawatt ("GW") to 4.6 GW, exceeding the Company's previous guidance range of 4.2 GW to 4.4 GW by approximately 6%
  • Total revenues will be in the range of US$1.35 billion to US$1.38 billion, exceeding the Company's previous guidance range of US$1.17 billion to US$1.23 billion by approximately 14%
  • Gross margin will be in the range of 18% to 20%, compared to guidance of 18.5% to 20.5%

Full Year 2019 Guidance

  • Total solar module shipments will be in the range of 14.3 GW to 14.4 GW, compared to the Company's previous guidance range of 14.0 GW to 14.2 GW

Full Year 2020 Guidance

  • JinkoSolar reiterates its outlook for full year 2020 with total solar module shipments expected to be in the range of 18.0 GW to 20.0 GW

Mr. Kangping Chen, JinkoSolar's Chief Executive Officer, commented,
"JinkoSolar's growth story continues to progress strongly and I couldn't
be prouder of the very significant expansion of our expected shipments and
total revenues during the quarter. 2019 marked a significant milestone in our
corporate history in which we successfully completed our transformation into
one of the most competitive solar manufacturers in the world. The efficient
execution of our strategy throughout the second half of the year allowed us to
rapidly transition our operations and facilities from poly to mono production
and steadily increase the proportion of products made through our fully
integrated manufacturing process. Both domestic and overseas demand for our
mono products remains incredibly strong, which leaves us even more confident in
reiterating our outlook for 2020 where solar module shipments are expected to
be in the range of 18-20 GW, an approximately 35% year-over-year increase. We
remain fully committed to driving growth in this new era of grid parity and
delivering long-term sustainable value to our shareholders."

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