Nov 20 Chinese solar company JinkoSolar Holding
Co Ltd reported a quarterly loss on weak panel prices
and said it had shifted focus to emerging markets as the
European Union could follow the United States in imposing
tariffs on Chinese solar products.
JinkoSolar already faces duties of about 15.42 percent in
the United States. The U.S. International Trade Commission
earlier this month approved final duties on billions of dollars
of solar equipment imports from China.
The European Union has also launched an investigation into
solar imports from China, and is looking at alleged state
subsidies for Chinese solar panel manufacturers.
JinkoSolar said it had turned its focus to emerging markets
such as China, South Africa, South America and Eastern Europe to
avoid potential duties in Europe.
JinkoSolar expects to ship between 250 megawatt(MW) and 300
MW modules in the fourth quarter, compared with third-quarter
module shipments of 280 MW.
Solar companies have seen margins disappear as a global glut
and weak demand from top market Europe has battered prices.
The company posted a net loss of $8.7 million in the third
quarter, compared with a profit of $10.7 million a year earlier.
Revenue fell 22 percent to $221.1 million.
JinkoSolar shares closed at $3.51 on Monday on the New York