JinkoSolar Forecasts 2020 Deliveries Growth at over 35 Percent

SHANGHAI,March 17,2020 -- JinkoSolar,the world's largest solar module producer,said last Friday that its deliveries for 2020 will grow more than 35 percent from a year earlier in 2019. In its latest earnings results,it showed shipments,revenue and gross profit for Q4 2019,were 4,538 MW,US$1.37 billion,and US$248.5mn respectively,the highest quarterly level in the company's history.

For 2019,JinkoSolar said,the company benefited from ramping up wafer capacity,improving cost structure,and stable ASP. It hit a record full-year shipments of 14.3GW,up 25.6% YoY,with revenues of US$4.27bn for 2019,up 18.8% YoY. The gross margin climbed from 14.0% to 18.3%.

It is expected JinkoSolar's advanced TR process,the technology applied in its latest model Tiger 475Wp which has begun mass production,will continue to make a big contribution to the company's sales after the success of its Cheetah. In addition,JinkoSolar is scheduled to launch a pilot production of the more powerful and sophisticated process beyond 500Wp later this year.

Due to increasing uncertainty caused by COVID-19,the global solar PV industry is estimated to see a mitigation and some drops in 2020,but JinkoSolar is expected to perform better and surpass the growth of the entire industry supported by strong backlogs.

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