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ADDITIONAL INFORMATION-CONDENSED FINANCIAL STATEMENTS OF THE PARENT COMPANY
 12 Months Ended
Dec. 31, 2018
Condensed Financial Information of Parent Company Only Disclosure [Abstract]  
ADDITIONAL INFORMATION-CONDENSED FINANCIAL STATEMENTS OF THE PARENT COMPANY
37.
ADDITIONAL INFORMATION – CONDENSED FINANCIAL STATEMENTS OF THE PARENT COMPANY
 
The separate condensed financial statements of the Company as presented below have been prepared in accordance with Securities and Exchange Commission Regulation S-X Rule 5-04 and Rule 12-04 and present the Company's investments in its subsidiaries under the equity method of accounting. Such investment is presented on separate condensed balance sheets of the Company as "Investments in subsidiaries " and the Company's shares of the profit or loss of subsidiaries are presented as "Share of (loss) / income from subsidiaries" in the statements of operations.
 
As disclosed in Note 31b, the Company provided guarantee for the redemption of the common shares of Jinko Power Group held by its investors during the period from October 2016 to June 2017.
 
Except for the guarantees as disclosed in Note 31b, the Company did not have any other significant contingency, commitment, or off balance sheet long term obligation as of December 31, 2016, 2017 and 2018.
 
Certain information and footnote disclosures normally included in financial statements prepared in accordance with US GAAP have been condensed and omitted. The footnote disclosures contain supplemental information relating to the operations of the Company, as such, these statements should be read in conjunction with the notes to the consolidated financial statements of the Company.
 
Condensed statements of operations:
 
 
 
For the year ended December 31
 
 
 
2016
 
 
2017
 
 
2018
 
 
 
RMB
 
 
RMB
 
 
RMB
 
 
USD
 
 
 
 
 
 
 
 
 
 
 
 
(note 2 (an))
 
Net revenue
 
 
-
 
 
 
-
 
 
 
 
 
 
 
 
 
Cost of revenues
 
 
-
 
 
 
-
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Gross profit
 
 
-
 
 
 
-
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total operating expenses
 
 
(9,937,095
)
 
 
(3,139,147
)
 
 
(2,267,582
)
 
 
(329,806
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Other income, net
 
 
3,214,433
 
 
 
8,825,212
 
 
 
6,249,651
 
 
 
908,974
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Income/(loss) from operations
 
 
(6,722,662
)
 
 
5,686,065
 
 
 
3,982,069
 
 
 
579,168
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Share of income from subsidiaries and affiliates
 
 
1,949,659,745
 
 
 
124,171,093
 
 
 
348,543,952
 
 
 
50,693,615
 
Interest (expenses)/income, net
 
 
4,089,083
 
 
 
(1,563,985
)
 
 
(722
)
 
 
(105
)
Exchange gain/(loss)
 
 
(10,073,699
)
 
 
13,412,516
 
 
 
53,953,395
 
 
 
7,847,196
 
Change in fair value of convertible senior notes and capped call option
 
 
(110,242,492
)
 
 
-
 
 
 
-
 
 
 
-
 
Income before income taxes
 
 
1,826,709,975
 
 
 
141,705,689
 
 
 
406,478,694
 
 
 
59,119,874
 
Income tax expenses
 
 
-
 
 
 
-
 
 
 
-
 
 
 
-
 
Net income attributable to JinkoSolar Holding Co., Ltd.’s ordinary shareholders
 
 
1,826,709,975
 
 
 
141,705,689
 
 
 
406,478,694
 
 
 
59,119,874
 
 
Condensed balance sheets:
 
 
 
December 31,

2017
 
 
December 31, 2018
 
 
 
RMB
 
 
RMB
 
 
USD
 
 
 
 
 
 
 
 
 
(note 2 (an))
 
ASSETS
 
 
 
 
 
 
 
 
 
 
 
 
Current assets:
 
 
 
 
 
 
 
 
 
 
 
 
Cash and cash equivalent
 
 
15,706,763
 
 
 
3,509,861
 
 
 
510,488
 
Due from subsidiaries
 
 
534,172,422
 
 
 
2,509,376,092
 
 
 
364,973,615
 
Due from related parties
 
 
9,625,813
 
 
 
3,919,423
 
 
 
570,056
 
Other current assets
 
 
40,037,711
 
 
 
152,275
 
 
 
22,147
 
Total current assets
 
 
599,542,709
 
 
 
2,516,957,651
 
 
 
366,076,306
 
Investments in subsidiaries
 
 
6,452,545,486
 
 
 
6,843,226,906
 
 
 
995,306,075
 
Due from related parties - non current
 
 
476,963
 
 
 
40,402,875
 
 
 
5,876,354
 
Total assets
 
 
7,052,565,158
 
 
 
9,400,587,432
 
 
 
1,367,258,735
 
 
 
 
 
 
 
 
 
 
 
 
 
 
LIABILITIES AND SHAREHOLDERS’ EQUITY
 
 
 
 
 
 
 
 
 
 
 
 
Current liabilities:
 
 
 
 
 
 
 
 
 
 
 
 
Due to subsidiaries
 
 
358,580,283
 
 
 
1,531,072,256
 
 
 
222,685,224
 
Due to related parties
 
 
298,352
 
 
 
3,939,224
 
 
 
572,936
 
Other current liabilities
 
 
3,920,963
 
 
 
4,129,886
 
 
 
600,667
 
Convertible senior notes-current
 
 
-
 
 
 
68,632
 
 
 
9,982
 
Total current liabilities
 
 
362,799,598
 
 
 
1,539,209,998
 
 
 
223,868,809
 
Due to related parties – non-current
 
 
426,963
 
 
 
21,486,120
 
 
 
3,125,027
 
Convertible senior notes
 
 
65,342
 
 
 
 
 
 
 
 
 
Total liabilities
 
 
363,291,903
 
 
 
1,560,696,118
 
 
 
226,993,836
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Shareholders’ equity:
 
 
 
 
 
 
 
 
 
 
 
 
Ordinary shares (US$0.00002 par value, 500,000,000 shares authorized, 133,869,274 and 133,869,274 shares issued as of December 31, 2017 and December 31, 2018, respectively, 132,146,074 and 132,146,074 shares outstanding as of December 31, 2017 and December 31, 2018, respectively.)
 
 
18,604
 
 
 
21,727
 
 
 
3,160
 
Additional paid-in capital
 
 
3,313,608,385
 
 
 
4,010,739,727
 
 
 
583,337,899
 
Accumulated other comprehensive income
 
 
23,295,998
 
 
 
70,300,898
 
 
 
10,224,842
 
Treasury stock, at cost; 1,723,200 ordinary shares as of December 31, 2017 and December 31, 2018
 
 
(13,875,553
)
 
 
(13,875,553
)
 
 
(2,018,115
)
Retained earnings
 
 
3,366,225,821
 
 
 
3,772,704,515
 
 
 
548,717,113
 
Total shareholders' equity
 
 
6,689,273,255
 
 
 
7,839,891,314
 
 
 
1,140,264,899
 
 
 
 
　
 
 
 
　
 
 
 
　
 
Total liabilities and shareholders' equity
 
 
7,052,565,158
 
 
 
9,400,587,432
 
 
 
1,367,258,735
 
 
The balance due from subsidiaries represented the expenses paid on behalf by the Company for its subsidiaries.
 
Other current assets represented options receivables.
 
The balance due to subsidiaries represented the professional service fees paid by Jiangxi Jinko.
 
Other current liabilities represented accrual for unpaid professional service fees.
 
Condensed statements of cash flows:
 
 
 
For the year ended December 31,
 
 
 
2016
 
 
2017
 
 
2018
 
 
 
RMB
 
 
RMB
 
 
RMB
 
 
USD
 
 
 
 
 
 
 
 
 
 
 
 
(note 2 (an))
 
Cash flows from operating activities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income
 
 
1,826,709,975
 
 
 
141,705,689
 
 
 
406,478,694
 
 
 
59,119,874
 
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Change in fair value of convertible senior notes
 
 
92,015,957
 
 
 
-
 
 
 
 
 
 
 
 
 
Change in fair value of capped call option
 
 
18,226,535
 
 
 
-
 
 
 
 
 
 
 
 
 
Share of income from subsidiaries
 
 
(1,949,659,745
)
 
 
(124,171,093
)
 
 
(348,543,952
)
 
 
(50,693,615
)
Guarantee income
 
 
(3,214,433
)
 
 
(8,825,212
)
 
 
(6,249,651
)
 
 
(908,974
)
Exchange (gain)/loss
 
 
10,073,699
 
 
 
(13,412,516
)
 
 
(53,953,395
)
 
 
(7,847,196
)
Changes in operating assets and liabilities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Decrease in due from subsidiaries
 
 
837,979,030
 
 
 
410,590,040
 
 
 
(1,895,298,545
)
 
 
(275,659,740
)
(increase)/Decrease in other current assets
 
 
(4,394,605
)
 
 
5,742,872
 
 
 
200,153
 
 
 
29,111
 
increase/(Decrease) in due to subsidiaries
 
 
327,267,488
 
 
 
(37,268,274
)
 
 
1,177,359,405
 
 
 
171,239,823
 
increase/(Decrease) in other current liabilities
 
 
(10,835,057
)
 
 
(10,018,710
)
 
 
(166,056
)
 
 
(24,152
)
Net cash provided by operating activities
 
 
1,144,168,844
 
 
 
364,342,796
 
 
 
(720,173,347
)
 
 
(104,744,869
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash flows from investing activities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Investments in subsidiaries
 
 
-
 
 
 
-
 
 
 
 
 
 
 
 
 
Net cash used in investing activities
 
 
-
 
 
 
-
 
 
 
 
 
 
 
 
 
 
 
 
　
 
 
 
　
 
 
 
 
 
 
 
 
 
Cash flows from financing activities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Proceeds from exercise of share options
 
 
21,730,663
 
 
 
69,929,453
 
 
 
44,278,857
 
 
 
6,440,093
 
Repurchase of convertible senior notes
 
 
(1,218,706,405
)
 
 
(422,829,295
)
 
 
 
 
 
 
 
 
Proceeds from issuance of ordinary shares
 
 
 
 
 
 
 
 
 
 
663,232,926
 
 
 
96,463,228
 
Net cash used in financing activities
 
 
(1,196,975,742
)
 
 
(352,899,842
)
 
 
707,511,783
 
 
 
102,903,321
 
 
 
 
　
 
 
 
　
 
 
 
 
 
 
 
 
 
Effect of foreign exchange rate changes on cash and cash equivalents
 
 
1,937,422
 
 
 
(551,797
)
 
 
464,662
 
 
 
67,582
 
 
 
 
　
 
 
 
　
 
 
 
 
 
 
 
 
 
Net increase/(decrease) in cash and cash equivalents
 
 
(50,869,476
)
 
 
10,891,157
 
 
 
(12,196,902
)
 
 
(1,773,966
)
Cash and cash equivalents, beginning of year
 
 
55,685,082
 
 
 
4,815,606
 
 
 
15,706,763
 
 
 
2,414,084
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and cash equivalents, end of year
 
 
4,815,606
 
 
 
15,706,763
 
 
 
3,509,861
 
 
 
510,488
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Supplemental disclosure of non-cash investing and financing cash flow information
 
 
　
 
 
 
　
 
 
 
 
 
 
 
 
 
Proceeds from exercise of share options received in subsequent period
 
 
6,135,783
 
 
 
39,685,283
 
 
 
-
 
 
 
-