JinkoSolar Holding Co., Ltd. · NYSE:JKS
JinkoSolar — Q2 2021 Earnings Presentation
12 slides from JinkoSolar's earnings presentation, Sep 15, 2021
Slide 1: JinkoSolar Q2 2021 Earnings Call Presentation
JINKOSOLAR HOLDING CO., LTD. Q2 2021 EARNINGS CALL PRESENTATION SEP 15, 2021
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: Q2 2021 financial highlights
Q2 2021 financial highlights Quarterly shipments were 5,203MW (3,976 MW for module, 1,227 MW for cell and wafer), total shipments down 2.8% QoQ, up 16.4% YoY Total revenues were US$1.23 bn, down 0.2% QoQ, down 6.2% YoY Gross profit was US$210.5 mn, up 0.1% QoQ, down 10.2% YoY Gross margin of 17.1%,
Slide 4: Business highlights
Business highlights As the price of polysilicon rose rapidly in the second quarter, and there was a certain time gap 1 between the prices transmissions from upstream to downstream in the industry chain, we quickly increased the external sales of silicon wafers, and lowered the production volume of s
Slide 5: Consolidate our strength to deal with challenges
Consolidate our strength to deal with challenges Strategic cooperation enhances risk resistance, while R&D and in-house manufacturing capabilities lead the industry 1 Flexible product structure 3 Long-term leading R&D advantage Optimized product structure ： Our proportion of N-type cell technolo
Slide 6: Integrated capacity increased steadily, while advantage of integrated capacity extends
Integrated capacity increased steadily, while advantage of integrated capacity extends Enhanced global manufacturing capability Cooperated with industry leaders to extend integration Long-term supply agreement： Upstream：To ensure reliable and stable supply of raw materials Strategic equity inv
Slide 7: Confident to capture a larger global market share with sophisticated products and services
Confident to capture a larger global market share year over year with sophisticated products and services DG market penetration is gradually increasing Brand advantage to enhance customer value DG DG 20-25% As of the end of 2020, accumulated module shipments ~40% reached 70 GW, making JinkoSolar the
Slide 8: Quarterly financial highlights
Quarterly financial highlights Revenue and total shipments Gross profit and gross margin 5,774 6,000 5,354 5,203 5,117 17.9% (1) 17.1% 17.1% 17.0% 16.0% 4,469 4,562 5,000 3,976 1,444 (1) 1,292 4,000 231 1,212 1,228 214 220 207 211 1,196 3,000 2,000 1,000 – Q2 2020 Q3 2020 Q4 2020 Q1 2021 Q2 2021 Q2
Slide 9: Income statement summary
Income statement summary Quarterly (US$mn) Change by RMB Q2 2020 Q1 2021 Q2 2021 QoQ change YoY change Total shipments 4,469MW 5,354 MW 5,203MW (2.8)% 16.4% Total module shipments 4,469MW 4,562 MW 3,976MW (12.8)% (11.0)% Revenue 1,196 1,212 1,228 (0.2)% (6.2)% Gross profit 214 207 211 0.1% (10.2)% G
Slide 10: Balance sheet summary
Balance sheet summary (US$mn) Q2 2020 Q1 2021 Q2 2021 Cash and restricted cash (1) 970 1,075 1,010 Accounts and notes receivable 1,198 913 808 Inventories 975 1,390 1,530 Net PPE 1,605 2,076 2,469 Total assets 7,021 8,364 8,884 Total debt 2,336 2,668 3,121 Short-term debt (2) 1,835 1,471 1,540 Long-
Slide 11: Operating and financial guidance
Operating and financial guidance Q1 2021 Q2 2021 Q3 2021E FY2021E Total shipments 5.35 GW 5.20 GW 5.0 GW-5.5 GW 25.0 GW - 30.0 GW Revenue US$1.21 bn US$1.23 bn US$ 1.24bn-US$ 1.37bn N/A Gross margin 17.1% 17.1% 12% -15% N/A Notes: Unaudited quarterly financials. 10 10
Slide 12: www.jinkosolar.com
Building Your Trust in Solar www.jinkosolar.com hy are