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Trina Solar Limited Message Board

  • Earnings look Great

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    • June 7, 2013
      06:47 EDT JKS JinkoSolar sees FY13 total solar module shipments 1.2GW-1.5GW

      06:46 EDT JKS JinkoSolar sees Q2 total solar module shipments 450 MW-470MW
      06:44 EDT JKS JinkoSolar reports Q1 EPS (56c), may not compare to one estimate ($1.66)

      • 1 Reply to runforthehills971
      • First Quarter 2013 Highlights

        Total solar product shipments were 338.6 megawatts ("MW"), consisting of 282.4 MW of solar modules, 25.4 MW of silicon wafers and 30.8 MW of solar cells. This represents an increase of 12.2% from 301.9 MW in the fourth quarter of 2012 and an increase of 36.0% from 249.0 MW in the first quarter of 2012.
        Total revenues were RMB1.16 billion (US$187.3 million), representing a decrease of 0.3% from the fourth quarter of 2012 and an increase of 9.7% from the first quarter of 2012. The Company has entered into certain sales contracts with retainage terms (the "Retainage Contracts") since the second half of 2012, under which customers were allowed to withhold payment of 5% to 10% of the full contract price as retainage for the specified period which generally ranges from one year to two years (the "Retainage Period"). Given the limited experience the Company has with respect to the collectability of the retainage under Retainage Contracts, the Company does not recognize such retainage until the customers pay it after the Retainage Period expires. The total amounts of retainage under the Retainage Contracts that were not recognized as revenue were RMB9.5 million and RMB62.0 million for the first quarter of 2013 and the fourth quarter of 2012, respectively. As of March 31, 2013, the cumulative amounts of retainage that were not recognized as revenue was RMB131.3 million.
        Gross margin was 12.7%, compared with 3.8% in the fourth quarter of 2012 and 0.7% in the first quarter of 2012.
        In-house gross margin[1] was 13.1%, compared with 5.6% in the fourth quarter of 2012 and 10.8% in the first quarter of 2012.
        Loss from operations was RMB16.8million (US$2.7million), compared with a loss from operations of RMB733.7 million in the fourth quarter of 2012 and a loss from operations of RMB306.0 million in the first quarter of 2012.
        Net loss attributable to JinkoSolar Holding Co., Ltd.'s ordinary shareholders was RMB128.7 million (US$20.7 million), compared with a net loss attributable to JinkoSolar Holding Co., Ltd.'s ordinary shareholders of RMB761.1 million in the fourth quarter of 2012 and a net loss attributable to JinkoSolar Holding Co., Ltd.'s ordinary shareholders of RMB356.3 million in the first quarter of 2012.
        Diluted loss per share was RMB1.45 (US$0.23), compared with a diluted loss per share of RMB8.58 in the fourth quarter of 2012 and a diluted loss per share of RMB4.01 in the first quarter of 2012.
        Diluted loss per American depositary share ("ADS") was RMB5.80 (US$0.92), compared with a diluted loss per ADS of RMB34.32 in the fourth quarter of 2012 and a diluted loss per ADS of RMB16.04 in the first quarter of 2012. Each ADS represents four ordinary shares.
        Non-GAAP net loss[2] attributable to JinkoSolar Holding Co., Ltd.'s ordinary shareholders in the first quarter of 2013 was RMB75.3 million (US$12.1 million), compared with a non-GAAP net loss attributable to JinkoSolar Holding Co., Ltd.'s ordinary shareholders of RMB699.5 million in the fourth quarter of 2012 and a non-GAAP net loss attributable to JinkoSolar Holding Co., Ltd.'s ordinary shareholders of RMB330.5 million in the first quarter of 2012.
        Non-GAAP basic and diluted loss per share in the first quarter of 2013 was RMB0.85 (US$0.14). Non-GAAP basic and diluted loss per ADS was RMB3.40 (US$0.56) in the first quarter of 2013.

 
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