JinkoSolar Announces First Quarter 2011 Results

JinkoSolar Holding

today announced its unaudited financial results for the first quarter ended March 31, 2011. First Quarter 2011 Highlights Total solar product shipments were a record 208.4 megawatts ("MW"), compared to 162.6 MW in the fourth quarter of 2010 and 83.0 MW in the first quarter of 2010, representing an increase of 28.2% sequentially and 150.1% year-over-year. Total revenues were a record RMB2.1 billion (US$326.7 million), an increase of 21.1% sequentially and 289.8% year-over-year, exceeding the Company's first quarter of 2011 guidance of US$280 million to US$290 million. Gross margin was 26.2%, compared to 28.5% in the fourth quarter of 2010 and 23.7% in the first quarter of 2010.