Weak market demand and falling module prices have forced JinkoSolar to revise financial guidance for the third quarter and full-year 2011. Total solar module shipments for Q3 are expected to be in the range of 210MW – 220MW, down from previous guidance of between 230MW – 250MW. As a result and due to ASP declines, revenue is expected to be in the range of US$270 – US$280 million, down from previous guidance of US$310 – US$330 million.
JinkoSolar said that figures for the full-year would also be impacted. Total solar module shipments are expected to be in the range of 770MW – 800MW, compared to previous guidance of 950MW – 1000MW.
Total revenue for 2011 is projected to be in the range of US$1.1- US$1.2 billion, down from previous guidance of US$1.4 – US$1.5 billion.
“Weak market demand and declining average selling prices throughout the solar supply chain resulted in shipment volumes and revenues that were lower than we expected in the third quarter,” noted Kangping Chen, JinkoSolar's chief executive officer.