JinkoSolar Announces First Quarter 2011 Results

JinkoSolar Holding (NYSE:

) today announced its unaudited financial results for the first quarter ended March 31, 2011. First Quarter 2011 Highlights Total solar product shipments were a record 208.4 megawatts ("MW"), compared to 162.6 MW in the fourth quarter of 2010 and 83.0 MW in the first quarter of 2010, representing an increase of 28.2% sequentially and 150.1% year-over-year. Total revenues were a record RMB2.1 billion (US$326.7 million), an increase of 21.1% sequentially and 289.8% year-over-year, exceeding the Company's first quarter of 2011 guidance of US$280 million to US$290 million. Gross margin was 26.2%, compared to 28.5% in the fourth quarter of 2010 and 23.7% in the first quarter of 2010.