JinkoSolar CMO, Gener Mao, Talks About Near-Term Global Supply and Demand Outlook

PVTIME - For the whole year of 2020, we now forecast the overall global market a 15-20% decline. For JinkoSolar, although this uncertainty exists, we believe we can do better than peers, in line with our guidance given three months ago. All the above forecasts are based upon the assumption of COVID-19 stabilizing in June of this year.

Now let me
talk about the progress and development of Tiger series and its next
generation. With the recent disruption from COVID-19, we now expect the
demand of US, Europe, Japan and India to decline to some extent,
particularly in DG market. However, utility deployment continues and
manufacturers keep preparing the launch of 500+ Wp modules. We maintain
our forecast for high and faster penetration rate for our Tiger 475Wp
and its next version modules of the total premium market in 2020. Thus,
we believe that tiling ribbon technology is still strong as a multi-year
mega trend and will fuel the upgrade of mainstream manufacturing
process in the next several years. We continue to expect faster
penetration of Swan transparent backsheet bifacial compared to dual
glass bifacial over the next several years with substantially light
weight advantages in labor cost saving.

DG market will be
another major long-term growth driver for JinkoSolar. In the next few
years, a more compact, higher energy density module will require massive
increase in power. Tiger 66 cell version of up to 395Wp and with 20.78%
efficiency will be the main growth area for distribution rooftop
market. Therefore, while near-term uncertainty exists, we’ll continue to
invest in our R&D and technology capabilities to capture the future
opportunities from the strong tiling ribbon related and high energy
density mega trend. We reaffirm our goal to rise at the high-end of our
growth projection of 35% in 2020.

Now let me talk about
the ramp-up of Tiger, Swan and the status of Cheetah. In its third year
of ramp-up, Cheetah continues to see very strong demand across a wide
spectrum of customers. So far, Cheetah has been sold over 10GW thanks to
its growing reputation for power, quality, reliability and customer

Our Swan bifacial is entering its second
year of ramp-up using DuPont patent transparent backsheet. Our Tiger
475Wp series provides a clear migration path from conventional
engineering rules to the next-wave 9 busbar and tiling ribbon process,
which can boost the wattage per square meter, and its BOS design is
compatible with mainstream solutions. Tiger is already in volume
production with good yield. Our TR technology is a full stride from
Cheetah, with 18% power gain and about 5% efficiency gain. We expect a
very fast and smooth ramp-up of Tiger in the second half of this year.
And we expect tiling ribbon technology will be followed and adopted
extensively because it is the most advanced and engineering feasible
solution for most manufacturers. We will offer continuous enhancements
to further improve the performance, power, and density of our TR
technology solution into the future as well. Thus, we are confident that
5-nanometer will be another large and long-lasting process for the
whole industry.

Finally, I will talk about our next
generation product status. Our 500+ Wp development is on track with risk
production scheduled in late 2020 or land target volume production in
early 2021. We have carefully evaluated all the different technology
options for our next generation products and our decision is to continue
to use TR to deliver the best technology maturity, performance, and
costs. I am confident that our next product will be the most advanced
and powerful panel available in the market when it will be introduced,
and that it will further extend our leadership position well into the