JinkoSolar Holding Co., Ltd. · NYSE:JKS
JinkoSolar — Q1 2021 Earnings Presentation
12 slides from JinkoSolar's earnings presentation, Jun 25, 2021
Slide 1: JinkoSolar Q1 2021 Earnings Call Presentation
JINKOSOLAR HOLDING CO., LTD. Q1 2021 EARNINGS CALL PRESENTATION JUNE 25, 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: Q1 2021 financial highlights
Q1 2021 financial highlights Quarterly shipments were 5,354 MW (4,562 MW for module, 792 MW for cell and wafer), solar module shipments up 33.7% YoY Total revenues were US$1.21 bn, down 6.4% YoY, or up 9.0% excluding the impact from the disposal of solar power plants in Mexico in the first quarter o
Slide 4: Business highlights
Business highlights Sharp rise in the price of polysilicon has driven up the price of modules, which has affected 1 the downstream demand in the short term The lower demand has kept the materials’ prices from rising further; as the prices of 2 polysilicon stabilize, downstream demand is expected to
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 Optimized product structure 3 Long-term leading R&D advantage Optimized product structure ： Our proportion of N-type cell technol
Slide 6: Integrated capacity increased steadily, while advantage of integrated capacity extends
Integrated capacity increased steadily, while advantage of integrated capacity extends Extension of integrated capacity advantage Strategic investment in upstream Leveraging on the technical polysilicon production project advantages and brand awareness In-house capability of wafer-cell-module
Slide 7: Confident to capture a larger global market share year over year 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 Ultra high As of the end of 2020, accumulated module Flagship product efficiency shipments reached 70 GW,
Slide 8: Quarterly financial highlights
Quarterly financial highlights Revenue and total shipments Gross profit and gross margin (3) (1) 5,774 6,00019.5% 5,354 5,117 17.9% 17.0% (2) 17.1% 16.0% 4,469 5,000 (1) 1,444 3,411(1) 1,292 4,000 234 231 214 220 207 1,198 1,196 1,212 3,000 2,000 1,000 – Q1 2020 Q2 2020 Q3 2020 Q4 2020 Q1 2021 Q1 20
Slide 9: Income statement summary
Income statement summary Quarterly (US$mn) Change by RMB Q1 2020 Q4 2020 Q1 2021 QoQ change YoY change Total module shipments 3,411 MW 5,774 MW 4,562 MW (21.0)% 33.7% Revenue 1,198 1,444 1,212 (15.7)% (6.4)% Gross profit 234 231 207 (9.9)% (18.0)% Gross margin 19.5% 16.0%(1) 17.1% 1.1pct (2.4)pct EB
Slide 10: Balance sheet summary
Balance sheet summary (US$mn) Q1 2020 Q4 2020 Q1 2021 Cash and restricted cash (1) 670 1,240 1,075 Accounts and notes receivable 1,058 924 913 Inventories 1,009 1,284 1,390 Net PPE 1,505 1,909 2,076 Total assets 6,671 8,158 8,364 Total debt 1,806 2,802 2,668 Short-term debt (2) 1,410 1,593 1,471 Lon
Slide 11: Operating and financial guidance
Operating and financial guidance Q1 2021 Q2 2021E FY2021E Total shipments 5.35 GW 5.1GW – 5.3 GW 25.0 GW - 30.0 GW Revenue US$1.21 bn US$1.2 bn-US$1.25 bn N/A Gross margin 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 iy are