Vertical Integration to Reach Grid Parity...Deliver the cleanest, most efficient and economic solar...

transcript

Vertical Integration to Reach Grid Parity

Version: December 2015

www.jinkosolar.com 2

Agenda

Jinko Solar Overview

Products & Services

Sustainable Development

Company Overview

� Introduction

� Vision & Mission

� Milestones

� Worldwide Marketing Network

� Capacity and Shipment

� Financial Performance

� Sustainable Growth

� Listed in NYSE: May.2010 (NYSE: JKS) � Company Scale: integrate the whole industrial chain vertically, estimated

capacity of 4.5 GW in 2015. � 4 production plants, 11 subsidiaries and 13 sales offices, 15,000 employees

worldwide

� 1 Billion dollars exports, one of China Fortune 500 company � The 3rd largest crystalline module manufacturer globally

� One of the best Performers in 2014 in the Photon Module Test � 4th in the PWC’s PV Sustainable Growth Index � Tier 1 Global PV Company rated by Bloomberg Finance, 65 Banks worldwide

provide project loan

Introduction

Market Value

Silicon Module Cell Wafer Ingot EPC

Core Business

Company Overview

Industry Leader

www.jinkosolar.com

Vision： Deliver the cleanest, most efficient and economic solar energy solutions for a sustainable future. Mission： Provide one-stop solution for clean energy and become industry leader

Vision & Mission

5 www.jinkosolar.com

Jinko Solar Co., Ltd. established

Ingot manufacturing launched

Acquisition of Sun Valley (cell & module manufacturer)

Operation of the 1st fully automated PV module NPC production line in China

Successful IPO and listed in NYSE

German Office & USA Office launched

1 GW Capacity reached

Swiss & Italy Office launched Beijing Office launched

Sponsorship of Valencia C. F., San Francisco 49ers, Germany DFB stadium

2006 2007 2008 2009 2010 2011 2012 2014

3.2 GW Capacity reached

Milestones

� JinkoSolar (U.S.) Est. Aug 2010

� Headquartered in San Francisco

� Canadian office � JinkoSolar GmbH Est. April

� Swiss Office Est. Sept.2011

� European Warehouses

� Italian Office � Zhejiang and Jiangxi factory

� Queensland Office (Australia)

� Singapore office (APAC HQ)

� India office � Thailand office

(in progress)

Worldwide Marketing Network

� Tokyo & Osaka offic (Japan)

� Chile Office

� Brazil Office

� South Africa factory

4 production facilities（Shangrao, Haining, Cape Town, Malaysia) 11 subsidiaries and 13 sales offices in 24 countries Ranking in key solar markets: #1 China, South Africa, Italy, Chile #2 France #4 Germany and US

� Global HQ in Shanghai

� Beijing office

� Guangzhou office

� Malaysia Factory

Module Shipment（MW） Capacity（MW）

Capacity and Shipment

12001500

1,2001,500

0400800

1,2001,6002,0002,4002,8003,2003,6004,0004,400

2012 2013 2014 2015Wafer Cell Module

¾ As of Sep 30, 2015, the Company’s in-house annual silicon wafer, solar cell and solar module production capacity was approximately 3,000MW, 2,500MW and 4,000 MW separately.

10.9 7.3 92.1 54.1 30.3 53.153.3 59.5 10.4

18.745.7

34.0 34.619.8

45.9 32.4 32.5 33.4

489.3 533.3455.1

570.8 658.1

739.2703.5

823.01063.9

160240320400480560640720800880960

1,0401,1201,200

3Q13 4Q13 1Q14 2Q14 3Q14 4Q14 1Q15 2Q15 3Q15

Wafer Cell Module

¾ Total solar product shipments to the 3rd party in the 3rd quarter of 2015 were 1107.7MW, increased 21.1% QoQ.

¾ Q3 solar module shipments to the 3rd party were 1063.9 MW, increased 29.3% QoQ.

Gross Profit and Gross Margin Quarterly Total Revenue and Shipments

Operating Profit and Operating Margin Net Income/Loss, Net Margin and Diluted EPS

Quarterly Financial Highlights

$417.3 $478.9 $443.5 $516.2 $637.6

708.2838.2 789.2

915.01107.7

3Q 14 4Q 14 1Q 15 2Q 15 3Q 15

Revenues (US$ mln) Total Shipments (MW)

$86.1$109.3

$90.1 $107.0

$136.0

20.3%20.7%

3Q 14 4Q 14 1Q 15 2Q 15 3Q 15Gross Profit (US$ mln)

$39.1$38.1 $37.1 $38.2

9.37%8.00%

8.40% 7.40% 9.50%

3Q 14 4Q 14 1Q 15 2Q 15 3Q 15Operating Profit (US$ mln) Operating Margin

$45.7$39.4

$8.2 $12.3

11.0% 8.2%1.9% 2.4% 4.8%

$0.13 $0.06 $0.10 $0.12

3Q 14 4Q 14 1Q 15 2Q 15 3Q 15

Net Income Net Margin Diluted EPS

Best Practice and Sustainable Growth

2015Q3 2015 Q2 2015 Q1 2014 Q4 2014 Q3

Jinko 21.3% 20.7% 20.3% 22.8% 20.6%

Canadian Solar 14.9% 15.2% 17.8% 19.3% 22.9%

Yingli % 6.3% 14.1% 16.8% 20.9%

JAsolar 17.7% 16.4% 16.1% 15.5% 15.0%

Trina 17.4% 20.0% 18.0% 15.7% 16.7%

Gross margin Comparison of Tier 1 Players

¾ The ONLY company among the 11 listed PV Companies with NET PROFITs in 2011.

¾ The first company back to net profit after downturn in Q2 2013 ¾ Leading in gross margin in 2014 ¾ Top 4 in Sustainability- according to PWC 2012 PV Sustainable growth Index

Highlights

Products & Services

� Technologies & Products

� Research & Development

� Quality & Certification

� Logistics Security

� Projects

� Partners

Technologies & Products

Source: Company estimates. (1) Indicates efficiency of best performing cell in production.

PV Cell Conversion Efficiency

17.6% 17.8%

18.0% 18.1% 18.2% 18.3%

18.4% 18.4% 18.5%

17.0%17.2%17.4%17.6%17.8%18.0%18.2%18.4%18.6%

Q4 2012 Q1 2013 Q2 2013 Q3 2013 Q4 2013 Q1 2014 Q2 2014 Q3 2014 Q4 2014

265W 270W

Dec.2012 Dec.2013 Dec.2014

Polycrystalline Module Output Power

Polysilicon Technology Roadmap

Power 200W 205W 210W 215W 270W 275W 315W 320W

Efficiency 15.7% 16.1% 16.5% 16.84% 16.5% 16.8% 16.23% 16.49%

No. of cells 72 cell 60 cell 72 cell

Cell Dimensions 125mm x 125mm 156mm x 156mm

Monocrystalline Module

Power 255W 260W 265W 270W 305W 310W 315W 320W

Efficiency 15.58% 15.89% 16.19% 16.50% 15.7% 16.0% 16.2% 16.49%

No. of cells 60 cell 72 cell

Cell Dimension

s 156mm x 156mm 156mm x 156mm

Polycrystalline Module (Eagle Series)

Product Lines

New: Smart Modules

• Leading smart module solution • Shading no longer an issue • More power from each module • Flexible string design • Maximized usage of roof space • Lower BOS costs • Safer installations • No hot spots with Maxim Integrated • Monitoring with SolarEdge and Tigo Energy

New! For more information, please visit jinko-smart.com

Polycrystalline 60-cell module achieves a maximum power of 270 Watt, the highest power among market’s homogeneous modules

Launched world’s first double 85 (under 85℃/85% RH)certified PID Free module

Passed anti ammonia, anti salt mist, anti dust tests, withstanding high loads (5400Pa)

The 1st Chinese module manufacturer passing dynamic mechanical load test

Excellent low light performance

Key Features

Roof-mounted Installation System Ground-mounted Installation System

Installation System

Research & Development

� Strong R & D Team with around 200 R & D personnel holding Doctor/Master degrees，driving product improvement � Proprietary QUANTUM, SEAPHON technology

for high-efficiency and low-cost solar cells � Optimized multi wafer processing technology producing higher efficiency modules � Collaborations with leading universities and

research institutions, developing the latest technologies

� Several core technology patents on ingot, slice, cell and module manufacturing

� Continuous R&D investment, encouraging innovation

Wafer Production

� Wafer manufacturing started in 2006 � 3 GW estimated wafer production capacity in 2015 � World’s leading silicon processing equipment: Ingot Casting (GT Solar) Slicing (NTC Komatsu)

Cell Production

� 2.5 GW estimated cell production capacity in 2015 � State-of-the-art fully automated equipment： Wafer loading/uploading system (Jonas Redmann, Fortix) Texturing , Isolation(Rena) Diffusion (Tempress) PECVD (Roth& Rau, Centrotherm) Screen Printing(Baccini) Co-firing (Despatch, TPS) Testing & Sorting(Berg, h.a.l.m.)

� 4 GW estimated module production capacity in 2015 � The most advanced production line, consisting of: Fully automated soldering and tabbing(NPC，TT) Robotics (ABB) AAA flash testing(Spire) 100% EL test before and after lamination

Module Production

Quality Control System

� MES- Manufacturing Execution System • 16 in-line quality control points in module workshop • Precise data-recording & supervision for all the manufacturing QC points � Product Traceability • Tracking card with unique barcodes tracing from module back to ingot • Long term data accessibility

Quality & Certification

ISO 9001:2008

・Power Determination Test ・Cut Susceptibility Test ・Pull Test ・Humidity-Freeze Test ・Hot Spot Test ・Impact Test ・Wet Leakage Current Test ・Insulation Test ・Reverse Current Overload Test ・UL Preconditioning Test ・Thermal Cycling Test ・Mechanical Load Test ・Ground Continuity Test ・Water Spray Test ・Initial Degradation Test ・Push Test ・Junction Box Robustness Test

UL Witness Test Data Program Certified Lab

ISO 9001:2008

Performance Test

ISO 9001:2008

Reliability Test

•25-year 80% power output warranty •12-year 90% power output warranty •10-year material & workmanship warranty • Positive Tolerance Service

PowerGuard provides quality assurance

Premium Warranty

Power guard

Insurance Carrier

Customer

Customer files claim with Jinko Solar

Jinko Solar is no longer in business. Claim filed directly

with PowerGuard

Jinko Solar and PowerGuard are no longer in business. Claim

filed directly with Insurance Carrier

Premium Warranty

Rank 1 According to 2014 Photon Laboratory outdoor test

950 1000 1050 1100 1150 1200

Canadian

Yingli

JinkoSolar

JA Solar

Yingli

JA Solar

JinkoSolar

The Average of Annual Energy Efficiency KWh/KW

Photon Laboratory Global Ranking of Components

PID Free (Potential Induced Degradation )

Anti-PID

World first company pass PID Free test under 85℃/85% RH.

TÜV IEC 61215 TÜV IEC 61730 UL-CANADA UL-USA CSA MCS

VDE CE ISO 14001: 2004 ISO 9001:2008

Our Certification

Anti-PID Anti-Ammonia

Europe • Dutch warehouse • Turkish warehouse

Africa： South Africa

Asia： China、Japan &India

Pacific Area • Australian warehouses

Logistic Centers are located all over five continents, as well as the freight partners, to ensure a smooth logistic process.

Regional Logistic Center

North America • California warehouse • New Jersey warehouse

Mexico

Projects

81 MW Cape Town, South Africa

High speed rail, Belgium

39 MW Indiana, USA 200 MW Gansu, China

2.84 MW Germany 5 MW Mie, Japan

300 kW Colorado, USA

20 MW, Australia 60 MW Atacama Desert, Chile

4MW, Israel

Projects

2 MW Karaman, Turkey

11.8 MW, United Kingdom

Projects - China

200 MW Gansu 25 kW the Bund, Shanghai 125 MW CGN, Agricultural Greenhouse, Henan

50MW Heihe, Gansu 100 kW Shenzhen

16 MW Hami, Xinjiang 1.1MW SM Plaza，Xiamen

30 MW Tongjing, Zhejiang

太阳能高铁, 比利时 484kW 卢森堡仓储中心屋顶

Projects-Europe

62 MW Ravenna, Italy 900kW Roof of Desalination plant, Spain

5 MW Bulgaria

1 MW Czech Republic

2.84 MW, Photon Technology center，Germany 20 MW Ukraine

660kW, Switzerland

8.4 MW, United Kingdom

太阳能高铁, 比利时

Projects-America

39 MW Indiana, USA 670 KW Laney College, USA

60 MW Atacama Dessert, Chile

33.67 MW Antofagasta, Chile

2.3 MW Ontario, Canada

300 KW Colorado, USA

30 KW Rooftop, Salvador

35 MW Arizona, USA

484kW 卢森堡仓储中心屋顶

Projects-Asia

2.2 MW, Okinawa, Japan 2 MW Nagasaki, Japan

49 KW Tokyo

1 MW Miyazaki, Japan

1.9 MW, Chiba, Japan

1.2 MW Kagoshima, Japan

1.66 MW Miyagi, Japan

5 MW Mie, Japan

Projects-Oceania、Africa

81 MW Cape Town, South Africa 1.06 MW Brisbane, Australia

1 MW 地面电站，捷克

90 KW Vistoria, Australia 20 MW Australia

115MW, South Africa

50 MW Kenya

90 KW Australia

1 MW, South Africa

Projects-Australia & Africa

Partners- Clients

Partners- Distributors

Sustainable Growth & Brand Building

� Marketing & Branding

� CSR

� Corporate Culture

Sports Marketing

Advertising

Tradeshows Customer events

Trainings

Marketing Activities

Kashi, Xinjiang

Yushu, Qinghai Sichuan

Ya’an Earthquake

Africa Tanzania

Solar Racing

Beijing University – Solar Center Solar Decathlon Europe

Solar Decathlon-SJTU

1 Million donation – 5 water treatments

Guian Ecological Park Energy Demonstration Project - SJTU

Jinko – Valencia forest

www.jinkosolar.com

Equality Responsibility

Challenge

Innovations

反对官僚、裙带和小帮派

Clear responsibility

Open Platform

Team Spirit

Respect

Goal Orientation

Integrity Honest

Diligence

Success

Jinko Culture

Thank you！

Vertical Integration to Reach Grid Parity...Deliver the cleanest, most efficient and economic solar...

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