RELATED PARTY TRANSACTIONS AND BALANCES

12 Months Ended

Dec. 31, 2013

RELATED PARTY TRANSACTIONS AND BALANCES [Abstract]

RELATED PARTY TRANSACTIONS AND BALANCES

26. RELATED PARTY TRANSACTIONS AND BALANCES

(a) Related party balances

Outstanding amounts due from/to related parties as of December 31, 2012 and 2013 were as follows:

	As of December 31,
	2012		2013
	RMB		RMB
Accounts receivable from related parties:
Accounts receivable from subsidiaries of ReneSola Ltd. ("ReneSola", controlled by an immediate family member of the principal shareholders and directors of the Company, who are the executive officers of the Company)		105,531,368		17,631,474
Accounts receivable due from Gausu Jintai Electronic Power Company Ltd.("Guasu Jintai", an affiliated company, in which the Group owns 28% equity interests)		-		266,510,538
Notes receivalbes from related parties:
Notes receivable due from Gausu Jintai		-		42,900,000
Other receivables from related parties:
Advances of travel and other business expenses to executive directors who are also shareholders		5,840,380		216,255
Total		111,371,748		327,258,267
Accounts payable due to a related party:
Accounts payable due to a subsidiary of ReneSola		30,045,245		2,468,361
Other payables due to a related party:
Other payables to Jiangxi Desun Energy Co., Ltd. (Desun, an entity in which the Shareholders, each holds more than 10%, and collectively hold 73%, of the equity interest) for leasing of land and buildings		2,161,345		3,261,649
Travelling reimbursements payable to executive directors who are also shareholders		109,531		-
Total		32,316,121		5,730,010

(1) Advances of travelling and other business expenses to executive directors who are also shareholders represent the amounts the Company advanced to them for expected expenses, charges and incidentals relating to their business development activities.

(2) Balances due to related parties are interest-free, not collateralized, and have no definitive repayment terms.

(b) Related party transactions

For the years ended December 31, 2011, 2012 and 2013, revenues from sales of products and provision of processing services to subsidiaries of ReneSola amounted to RMB32,587,949, RMB201,355,631and RMB33,936,022, respectively.

For the transactions with Renesola during 2012, these sales and purchases transactions were conducted simultaneously and there was direct linkage between any one or group of buy transactions with any one or group of sell transactions. There was also correlation between the value of raw materials received and the value of finished goods delivered pursuant to the contractual arrangement. These buy and sell transactions with the same counterparty were recognized at net basis and presented separately as sales in the Group's consolidated financial statements.

For the transaction with Renesola during 2013, the Group entered into processing services agreements with subsidiaries of Renesola, and revenue related to provision of processing services was recognised when such services had been performed.

For the years ended December 31, 2011, 2012 and 2013, raw materials purchased from a subsidiary of ReneSola amounted to RMB44,512,919, nil and RMB3,968,340, respectively.

On January 1, 2008, Desun and Jiangxi Jinko entered into an operating lease agreement pursuant to which Desun leased its buildings and land use rights to Jiangxi Jinko for a ten-year period from January 1, 2008 to December 31, 2017. Desun was deconsolidated from the Company on July 28, 2008 and became a related party of the Group. For the years ended December 31, 2011, 2012 and 2013, Desun charged Jiangxi Jinko RMB1,100,304, RMB1,100,304 and RMB1,100,304 in rent, respectively.

On December 20, 2012, JinkoSolar has signed a strategic cooperation agreement with Jinchuan Group Co., Ltd. ("Jinchuan Group"), a Chinese state-owned enterprise, to jointly invest and establish a Company ("Gansu Jintai" or "investee"), to develop 200 MW photovoltaic ("PV") solar power plant in Jinchang, Gansu Province, China. For the year ended December 31, 2013, sales of solar module to Jinchuan Group amounted to RMB758,075,063.

During the years ended December 31, 2012 and 2013, the Shareholders provided guarantees for the Group's several short-term and long-term bank borrowings. As of December 31, 2012 and 2013, the balances of short-term borrowings guaranteed by the Shareholders were RMB508,254,639 and RMB605,000,000 , respectively (Note 19).