JinkoSolar Holding Co., Ltd. · NYSE:JKS
JinkoSolar — Q2 2017 Earnings Presentation
11 slides from JinkoSolar's earnings presentation, Sep 6, 2017
Slide 1: JinkoSolar Holding Co., Ltd. Q2 2017 Earnings Call Presentation
JinkoSolar Holding Co., Ltd. Q2 2017 Earnings Call Presentation September 6, 2017
Slide 2: Disclaimer
Disclaimer This presentation does not constitute an offer to sell or issue or the solicitation of an offer to buy or acquire securities of JinkoSolar Holding Co., Ltd. (the “Company”) in any jurisdiction or an inducement to enter into investment activity, nor may it or any part of it form the basis
Slide 3: Financial Highlights and Outlook
Financial Highlights and Outlook Q1 2017 Q2 2017 Q3 2017E FY 2017E 5,000 – wafer 6,000 – wafer 6,750 – wafer 7,500 – wafer Capacity (MW) 4,000 – cell 4,500 – cell 4,500 – cell 4,500 – cell 6,500 – module 7,500 – module 7,500 – module 8,000 – module Module Shipments (MW) 2,068MW 2,884MW 2.1GW-2.3GW 8
Slide 4: Capacity and Shipment
Capacity and Shipment Capacity (MW) Total Module Shipments (MW) 3,000 8,000 7,500 2,800 6,500 2,600 2,884 7,000 6,000 2,400 6,000 2,200 5,000 2,000 5,000 4,500 2,068 4,300 1,800 4,000 1,600 4,000 3,200 3,000 1,400 1,710 1,716 1,733 1,600 1,606 3,000 2,500 2,500 1,200 2,000 1,000 1,135 2,000 1,500 80
Slide 5: Significant Cost per Watt Reduction
Significant Cost per Watt Reduction ($/Watt) Q3 2016 Q4 2016 Q1 2017 Q2 2017 Non-Silicon Cost (Including 0.27 0.25 0.24 0.24 Depreciation) Silicon Cost 0.08 0.07 0.08 0.07 In-house Cost 0.35 0.32 0.32 0.31 (Including Depreciation) Blended Cost 0.40 0.35 0.35 0.34 Non-silicon cost remains the same. S
Slide 6: Quarterly Financial Highlights from continuing operations (Unaudited)
Quarterly Financial Highlights from continuing operatoins (Unaudited) Total Revenues and Module Shipments Gross Profit and Gross Margin 2,884 20.5% 19.2% 2,068 1,716 19.2% 1,606 1,733 11.2% 10.5% 853 799 738 839 1,169 2Q 16 3Q 16 4Q 16 1Q 17 2Q 17 156 154 105 94 123 Revenues (US$ mln) Total Module S
Slide 7: Module Sales Geographical Distribution
Module Sales Geographical Distribution Q1 2017 Module sale by Region Q2 2017 Module sale by Region North North America America 10% 13% Emerging China Market 35% 19% Emerging Total: Total: China Market 18% 2,068 MW 2,884 MW 51% Europe Europe 9% 11% APAC 23% APAC 11% Emerging (MW) China APAC Europe No
Slide 8: P&L Summary from continuing operations (Unaudited)
P&L Summary from continuing operations (Unaudited) US$ in millions Q2 2016* Q3 2016* Q4 2016* Q1 2017* Q2 2017* Revenues 853 799 738 839 1,169 Gross Profit 155 154 105 94 123 Gross Margin 18.1% 19.3% 14.3% 11.2% 10.5% Operating Expenses 108 88 94 86 111 Operating Margin 5.4% 8.2% 1.5% 1.0% 1.1% Inte
Slide 9: Balance Sheet (Unaudited)
Balance Sheet(Unaudited) US$ in millions Dec 31, 2016 Jun 30, 2017* Cash and Restricted Cash 406 280 Accounts Receivable 888 1,070 Inventories 644 768 Net PP&E 683 868 Total Assets 3,758 4,167 Total Debt 929 1,066 -Short-term Borrowings (incl. current portion of long-term 791 979 borrowings) -Long-t
Slide 10: Other Key Information from continuing operations
Other Key Information from continuing operations (Unaudited) (US$ in millions) 2016Q2 2016Q3 2016Q4 2017Q1 2017Q2 Depreciation 16 18 15 20 23 Operating CF 57 (179) (123) 25 8 EBITDA 99 89 44 37 37 CAPEX 42 68 88 110 164 EBITDA: net income before interest, taxes, depreciation, amortization, change in
Slide 11: Thank you!
Thank you! www.jinkosolar.com