Years. Solar Business Day 2017 January 25th, Driebergen, Netherlands. PV Production Trends Frank Niendorf, General Manager Europe, Jinko Solar

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1 Years Solar Business Day 2017 January 25th, Driebergen, Netherlands PV Production Trends Frank Niendorf, General Manager Europe, Jinko Solar

2 Company Overview Largest PV Module Manufacturer Worldwide (2016) China Fortune 500 Company Employees Listed at NYSE 34 Subsidiaries / Offices 6 Factories 6,5 GW 17 GW > 2,5 Billion USD Capacity Delivered Revenue 2015 Sales in over 70 Countries 2

3 Shipments MW Capacity MW Key Facts Wafer Cells Modules Spalte1 Modules Spalte E Fast Growth: 50% CAGR Qualitative Growth : No. 1 in Gross Margin Diversification: risk mitigation due to balanced deployment in several Regions Competitiveness:: Technology, Quality, Service, Brand 3

4 Global Supply / Demand (2016 & 2017) 75 GW global market in 2016 (34GW in China) Ca 70 GW of Tier 1 module capacity in 2016 (34GW in China) 2017 Trend: Global demand forecast for 2017: GW Demand in China will remain high in H (15-20 GW ) due to FiT cut June 30 th > stabilization of global ASP. In H US demand will significantly increase. 4

5 Cost & Price Trends 2016 & Module prices continued to drop in 2016, with a global ASP of $0.41 / Wp in 2016 Q4 - Along with ASPs, costs continue to drop Cost during H expected to increase because of increase in wafer and cell cost, driven by the high demand in China for 2017 H1 Stabilisation of ASP price level thanks to booked out Tier 1 capacities 5

6 Product & Technology roadmap Power Roadmap for 60 Poly Cells Year Cell Eff % % % % Main Power 270W W W W Max Power 280W W W W LRF/White EVA: +5W MCT: +2W 280W 5BB+LCR: +5W Half Cell: +5W 285W 290W 280W RIE+PERC: +5-10W 295W 285W 300W 290W W 275W means definite trend for Jinko roadmap represent potential technology that Jinko might focus on Q1 17Q2 17Q3 17Q4 18Q1 18Q2 18Q3 18Q4 19Q1 19Q2 19Q3 19Q4 20Q1 20Q2 20Q3 20Q4 Main Power Max Power 6

7 Product & Technology roadmap Power Roadmap for 60 PERC Mono Cells Year Cell Eff. 21% % % % Main Power 295W W W W Max Power 305W W W W Fine Line Metallization: +5- N-type Bifacial: +5-10W 10W 325W Improved PERC: +2W 5BB: +1W 305W 295W 5BB+LCR: +5W Half Cell: +5W 310W 300W 17Q1 17Q2 17Q3 17Q4 18Q1 18Q2 18Q3 18Q4 19Q1 19Q2 19Q3 19Q4 20Q1 20Q2 20Q3 20Q4 Main Power 315W 305W Max Power 320W 310W 315W means definite trend for Jinko roadmap represent potential technology that Jinko might focus on 7

8 Product Portfolios getting broader Eagle PID Free Eagle Smart Modules Dual-Glass Modules V Module Black Poly Module PERC Mono and Poly etc 8

9 Optimized Modules Conventional Bypass Diode per 24 cells M X M X M X Jinko Eagle MX Optimizer per 24 cells Performance Simplicity Value Reliability Three MPPT per module for deepest performance optimization Embedded in module, no added system components or complexity Highly integrated IC enables the lowest cost optimizer Technology proven over 20 years in mission critical applications Within a conventional module Power output reduces when any type of mismatch happens caused by shading, micro-cracks, aging, temperature inconsistency, etc

10 Residential System Design Flexibility Directly combine strings of different length i.e. 10 panels in parallel with 12: +5% energy increase 1 Series connect panels facing different directions i.e. East panels in series with West: +12% energy increase 1 Series connect panels of different tilts i.e. 10 panels in series with 25 panels: +1.6% energy increase 1 Parallel Mismatch Operation Series Mismatch Operation Multiple Mounting Planes Distributed MPPT enables flexible PV site design No performance penalty design; use the easiest installation 10

11 Thank You! 11

12 Jinko Solar - Company Milestones 2006 Jinko Solar Co., Ltd. is established 2007 Launching ingot manufacturing 2008 Launching wafer manufacturing 2009 Operates the 1 st fully automated PV module NPC production line in China 2010 Successful IPO and listed on NYSE 2012 World First company passing PID free test under 85 C/85% RH Ranked No. 2 in Photon Lab Test Ranked No. 4 in PV Sustainable index publishing by PwC 2013 The 4 th largest solar module manufacturer worldwide GW production capacity, 7 GW solar products globally GW capacity, 12 GW delivered 2016 No. 1 in 2016, shipment, revenue, gross margin, and net profit 12

13 Financial Performance Revenue USD Million Gross Margin USD Million 15.6% 4.8% 20.3% 22.4% 20.3% 21.3% 20.4% 22.1% ,8 896,1 855, Q1 Q2 Q3 Operation Income USD Million 503,44 360,64 187,2 237, ,4 188, Q1 Q2 Q3 Cash & Cash Equivalent USD Million 4.2% -25.7% 9.1% 9.3% 8.3% 10.5% 7.5% 10.5% ,2 106,7 150,1 205, , Q2 Q3 198 Q1 403,2 203,07 165,46 45,7 9,5 23, ,2 65,8 83,

14 Product & Technology roadmap Eagle MX Optimizer Power Roadmap Power Roadmap in 2017 Smart Module Eagle MX SolarEdge Backsheet White Black White Black 60c POLY W W W W 72c POLY W W 60c MONO W W W W 72c MONO W W 14