JinkoSolar solar shipment up 12.2 percent in 1Q 2013; eyes 15 percent business from Japan in the coming quarter

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Greentech Lead Asia: JinkoSolar, a global solar PV manufacturer, has reported total solar product shipments of 338.6 megawatts (MW) in the first quarter of 2013, an increase of 12.2 percent from 301.9 MW in the fourth quarter of 2012 and an increase of 36.0 percent from 249.0 MW in the first quarter of 2012

Of the total solar product shipments of 338.6 megawatts, 282.4 MW were solar modules, 25.4 MW were silicon wafers and 30.8 MW of solar cells.

Total revenues were RMB1.16 billion (US$187.3 million), representing a decrease of 0.3 percent from the fourth quarter of 2012 and an increase of 9.7 percent from the first quarter of 2012.

Commenting on the results, Kangping Chen, JinkoSolar’s chief executive officer, said, “In the first quarter of 2013, we maintained our leading position in the global PV market, grew our shipments in volume and expanded our geographic reach. As a result of improving ASPs and our competitive cost structure, our gross margin further increased to 12.7 percent, among the industry’s highest for PV product manufacturers.”

JinkoSolar unveiled our newest series of Eagle II solar modules at the 7th SNEC International Photovoltaic Power Generation Conference & Exhibition in Shanghai last month. Eagle II series is also certified PID free under the conditions of 85°C and 85 percent relative humidity, and represents a high standard of performance and reliability.

JinkoSolar is also currently planning to develop a new series of modules with distinctive features, including “smart modules,” which it hopes will revolutionize the way in which solar modules are managed and optimized.

JinkoSolar continues to seek out new opportunities in emerging solar markets such as China, Japan, US, South Africa and India. The company has considerably expanded market presence in Japan. In March, the company established a local sales office in Japan and has already signed a few large contracts.

JinkoSolar expects that Japan will account for approximately 15 percent of its product shipments in the coming quarters. It also expect demand to pick up in China as it emerges from the seasonally slow first quarter. In addition, the company has secured a variety of large contracts in India and has increased its presence in South Africa where the company has seen a rise in repeat business opportunities following the signing of a 115 MW contract and an 81 MW contract.

The company is also analyzing the potential impact of the preliminary affirmative anti-dumping determination announced by the European Commission on June 4. The company believes it to be both unfair and unfounded, Chen said.

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