EARNINGS PER SHARE

12 Months Ended

Dec. 31, 2018

26.

EARNINGS PER SHARE

Basic earnings per share and diluted earnings per share have been calculated as follows:

	For the years ended December 31,
	2016			2017		2018
	RMB			RMB		RMB
Numerator:
Net income from continuing operations		990,235,555			142,191,365		405,575,533
Net income from discontinued operations		1,001,564,260			-		-
Total net income		1,991,799,815			142,191,365		405,575,533

Net income from continuing operations		990,235,555			142,191,365		405,575,533
Less: Net (loss)/income attributable to non-controlling interests from continuing operations		(432,541	)		485,676		(903,161	)
Net income attributable to JinkoSolar’s ordinary shareholders from continuing operations		990,668,096			141,705,689		406,478,694

Net income from discontinued operations		1,001,564,260			-		-
Less: Net income attributable to non-controlling interests from discontinued operations		6,044,451			-		-
Less: Accretion to redemption value of redeemable non-controlling interests from discontinued operations		159,477,930			-		-
Net income/(loss) attributable to JinkoSolar’s ordinary shareholders from discontinued operations		836,041,879			-		-

Net income attributable to JinkoSolar’s ordinary shareholders from continuing operations		990,668,096			141,705,689		406,478,694
Interest expense add back on assumed conversion of convertible senior notes		6,142,661			-		-
Numerator for diluted income per share for continuing operations		996,810,757			141,705,689		406,478,694

Numerator for diluted income/(loss) per share for discontinued operations		836,041,879			-		-

Denominator:
Denominator for basic earnings per share - weighted average number of ordinary shares outstanding		125,870,272			128,944,330		153,806,379
Dilutive effects of share options		2,246,095			2,742,900		897,786
Incremental shares on assumed conversion of convertible notes		2,474,074			-		-
Denominator for diluted calculation - weighted average number of ordinary shares outstanding		130,590,441			131,687,230		154,704,166

Continuing operations:
Basic earnings per share attributable to JinkoSolar's ordinary shareholders from continuing operations		7.87			1.10		2.64
Diluted earnings per share attributable to JinkoSolar's ordinary shareholders from continuing operations		7.63			1.08		2.63
Discontinued operations:
Basic earnings/(loss) per share attributable to JinkoSolar's ordinary shareholders from discontinued operations		6.64			-		-
Diluted earnings/(loss) per share attributable to JinkoSolar's ordinary shareholders from discontinued operations		6.40			-		-

As disclosed in note 9, JinkoPower

issued redeemable convertible preferred shares, which are accounted for as redeemable non-controlling interest and are accreted from the initial carrying value to the ultimate redemption price on the earliest possible redemption date. For the year ended December 31, 2016, accretion of RMB159,477,930 for redeemable non-controlling interests was recorded as a charge to decrease net income from discontinued operations to arrive at net income from discontinued operations attributable to JinkoSolar Holding’s ordinary shareholders.