JinkoSolar Holding Co., Ltd. · NYSE:JKS
JinkoSolar — Q4 2021 Earnings Presentation
14 slides from JinkoSolar's earnings presentation, Mar 23, 2022
Slide 1: Q4 2021 Earnings Call Presentation
JINKOSOLAR HOLDING CO., LTD. Q4 2021 EARNINGS CALL PRESENTATION MAR 23, 2022
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: Q4 2021 financial highlights
Q4 2021 financial highlights Quarterly shipments were 9,693 MW (9,024 MW for solar modules, 669 MW for cells and wafers), total shipments up 94.1% QoQ, and up 67.9% YoY Total revenues were US$2.57 bn, up 91.2% QoQ, and up 73.9% YoY Gross profit was US$414.9 mn, up 104.0% QoQ and up 75.5% YoY Gross m
Slide 4: FY2021 financial highlights
FY2021 financial highlights Annual shipments were 25,242 MW(including 22,233 MW for solar modules), up 18.4% YoY for solar modules shipments Total revenues were US$6.41 bn, up 16.2% YoY Gross profit was US$1.04 bn, up 7.9% (1) YoY Gross margin of 16.3%, compared with 17.6% (1) in 2020 Record full-ye
Slide 5: Business highlights
Business highlights 1 Despite supply chain challenge in the fourth quarter of 2021, we achieved significant growth in both shipments and revenues compared to the third quarter of 2021. Proportion of shipments in the Chinese market increased to approximately 34% in the fourth 2 quarter of 2021. We ac
Slide 6: Consolidating our strengths to navigate challenges
Consolidating our strengths to navigate challenges Strategic co-operations mitigate risks; R&D and in-house manufacturing capabilities lead the industry 1 Flexible business strategy 3 Long-term leading R&D and product advantage Optimized product structure ： Shipments of Tiger N-type cell technol
Slide 7: Integrated capacity increased steadily while global manufacturing capability enhanced
Integrated capacity increased steadily while global manufacturing capability enhanced Enhanced global manufacturing capability Cooperation with industry leaders to extend integration Long-term supply agreements with Upstream：To ensure U.S. and German polysilicon reliable and stable supply suppli
Slide 8: Growth in China and DG market
Growth in China and DG market DG market penetration is increasing Brand advantage to enhance customer value DG DG DG As of the end of 2021, our accumulated module shipments 20-25% 30%-40% ~40% reached 90 GW+, with a network serving global customers and delivering products 160+ countries and regions.
Slide 9: Quarterly financial highlights
Quarterly financial highlights Revenue and total shipments Gross profit and gross margin 9,693 10,000 415 9,024 (1) 17.1% 17.1% 8,000 16.0% 15.1% 16.1% 2,570 5,774 5,354 5,203 4,993 6,000 5,774 231 207 211 201 4,562 4,671 1,444 3,976 4,000 1,228 1,330 1,212 2,000 – Q4 2020 Q1 2021 Q2 2021 Q3 2021 Q4
Slide 10: Annual financial highlights
Annual financial highlights Revenue and module shipments Gross profit and gross margin 7,000 6,410 1,040 6,000 5,384 780 946 (1) 25.2 18.3% 17.6% 5,000 4,273 16.3% 4,000 18.8 3,000 14.3 2,000 1,000 – 2019 2020 2021 2019 2020 2021 Total shipments（including Gross margin Gross profit (US$mn) Revenue (U
Slide 11: Income statement summary
Income statement summary Change by Quarterly (US$mn) Change by RMB Annually (US$mn) RMB Q4 2020 Q3 2021 Q4 2021 QoQ change YoY change FY2020A FY2021A YoY change Total shipments 5,774MW 4,993MW 9,693MW 94.1% 67.9% 18.8GW 25.2GW 34.5% Total module shipments 5,774MW 4,671MW 9,024MW 93.2% 56.3% 18.8GW 2
Slide 12: Balance sheet summary
Balance sheet summary (US$mn) Q4 2020 Q3 2021 Q4 2021 Cash and restricted cash (1) 1,240 1,136 1,400 Accounts and notes receivable 924 915 1,442 Inventories 1,284 2,091 2,080 Net PPE 1,909 2,723 3,134 Total assets 8,158 9,932 11,453 Total debt 2,802 3,688 3,957 Short-term debt (2) 1,593 1,907 2,134
Slide 13: Operating and financial guidance
Operating and financial guidance Q4 2021A Q1 2022E FY2022E Total shipments 9.69GW 7.5GW to 8.0GW 35.0GW to 40.0GW Revenue US$2,57bn N/A N/A Gross margin 16.1% N/A N/A Notes: Unaudited quarterly financials. 12 12
Slide 14: www.jinkosolar.com
Building Your Trust in Solar www.jinkosolar.com hy are