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0:28
Jinko Solar's Jing on China's Solar Industry
Jinko Solar's Jing on China's Solar Industry
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 * 00:00Global Vice President Jiang Jing joins us now from our Shanghai studios.
 * 00:03Jing, thanks so much for joining us here here today on the back of what
   our
 * 00:08colleague David just just highlighted here.
 * 00:09There's intense competition that you're seeing in China has really led
   to
 * 00:14overcapacity and plunging solar prices here right now.
 * 00:18How much pressure is Genco facing right now?
 * 00:232023 is a fantastic year for us. And the jigsaw was the first solar
 * 00:28company that making a milestone of 200 gigawatt panels delivered and the
   record
 * 00:33high sales of 75 gigawatt this year making us number one killer.
 * 00:38But the coming 2024 will be incredibly challenging, not only for a
   single
 * 00:43company before the whole industry, but even facing the increasing
   pressure from
 * 00:51price, jobs and the new competition. We will not cut the price to
   exchange
 * 00:56ourselves in response to that. Instead, we will be more careful with
 * 01:01the facts about pricing strategy and we will work more closely with
   upstream and
 * 01:08downstream partners to stabilise the price because we think that for
 * 01:12customers what they really need is not their low is the price, but to
   stabilise
 * 01:17the sector, then we will accelerate that.
 * 01:23Their capacity, the untapped capacity and the boosted
 * 01:28efficiency power yield rate, power, performance to increase the product
 * 01:34competitiveness and further drive down their dollar per kilowatt hour.
 * 01:41So can you tell us a bit more about, you know, just given that this
   intense
 * 01:46competition you have consolidation in this industry as well?
 * 01:51How does Jinkosolar plan to, you know, survive in some ways and how do
   you
 * 01:56better protect your profitability now? I think there's two ways.
 * 02:03One is to to scare up the advanced technology capacity.
 * 02:09Other is to consider that they're too adding more overseas supply
 * 02:15chain, i.e. more overseas capacity and even building
 * 02:19more overseas factories. Okay.
 * 02:23Let's talk about the overseas plans here.
 * 02:25You announced earlier this year that Genco is going to be expanding your
   U.S.
 * 02:29factory by a21 gigawatts of capacity. How is construction going there?
 * 02:37Currently we have three overseas factories in Malaysia, Vietnam and the
 * 02:42United States. And a one gigawatt solar panel
 * 02:47capacity in Florida is under construction.
 * 02:54Yes. Can you tell us a bit more about the
 * 02:55timeline? When is it going to be completed?
 * 02:57When can you start operations? I think, by and by Q3 next year.
 * 03:07Okay. Can you tell us what more you mentioned
 * 03:10about the Southeast Asia expansions, your U.S.
 * 03:12plans? Are there any plans on JINKOSOLAR to
 * 03:15expand beyond some of those markets? Currently our overseas capacity is
   12
 * 03:23gigawatt wafer, 15 gigawatt scale and the 15 gigawatt module and the one
 * 03:28gigawatt under construction. And regarding to the further plan, it's
 * 03:33in consideration, but not at this stage of public discourse.
 * 03:38Okay. Can you tell us a bit more about the
 * 03:41trade barriers? Of course, a lot of solar panel makers
 * 03:44like yourself have been facing here overseas in recent years.
 * 03:47How are you addressing sort of some of these political considerations
   and how
 * 03:53you navigating through some of the changes there?
 * 03:58In addition to the traditional barriers like anti-dumping, the new
   restrictions
 * 04:03and the name of all and the excuse of their carbon footprint tracing and
   or
 * 04:09human rights issues make the trade more difficult.
 * 04:12So in response to that, the current challenges, we will, as I
 * 04:18mentioned, we will be considering adding more overseas capacity or doing
   more
 * 04:23obviously factory. But we will be very, very careful and
 * 04:27serious on that decision and keep close lock on the market dynamic
   supply and
 * 04:35demand side, particularly the local supply chain availability.
 * 04:39And the second, the last year as the first saw companies during I
 * 04:45hundred and 800 and the member up you can see we have established a
 * 04:50transparent and traceable green supply chain.
 * 04:53But actually our first the one gigawatt zero carbon integrated
   production line
 * 05:00will put into operation by end of this year.
 * 05:04So the products from vis a vis lines will be certified and labeled as
   New
 * 05:12Green, which would be the industry's first of this kind.
 * 05:18And can you give us before you go your expectations for for solar
   installation
 * 05:23this year? Do you expect growth to slow down for
 * 05:262024 in the domestic market?
 * 05:32Yeah. Yes.
 * 05:36We expect that next year's domestic market could reach a record high of
   200
 * 05:44gigawatts. Okay.
 * 05:47And for 2024, do you think that's going to slow down the speed of that
   growth?
 * 05:55China will we all will still growth in our significant speed rate.

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JINKO SOLAR'S JING ON CHINA'S SOLAR INDUSTRY


 * BLOOMBERG MARKETS CHINA OPEN

November 27th, 2023, 5:19 AM GMT+0200

Jinko Solar's Global VP Qian Jing discusses China's solar industry and Jinko's
business strategy. She speaks from the sideline of BNEF Summit with Yvonne Man
on "Bloomberg Markets: China Open." (Source: Bloomberg)

--------------------------------------------------------------------------------


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