On November 14th, 2011, JinkoSolar Holding Company Ltd. (Shanghai, China) released new revenue and shipment guidances for the third quarter and full year 2011, anticipating a 14% decline in its third quarter revenues.

The company now expects module shipments of 210 to 220 MW and revenues of USD 270 to 280 million, in the third quarter of 2011. For the full year 2011, the company expects total module shipments between 770 and 800 MW, and revenues in the range of USD 1.1 to 1.2 billion.

"Weak market demand and declining average selling prices throughout the solar supply chain resulted in shipment volumes and revenues that were lower than we expected in the third quarter," said JinkoSolar CEO Kangping Chen.

JinkoSolar full year 2011 guidance 21% lower

JinkoSolar's new third quarter 2011 shipment guidance also represent a 10% decline from previous estimates. The company is also anticipating a slower fourth quarter of 2011, as its new revenue and shipment guidances for the full year are both 21% lower than its former guidance.

JinkoSolar joins many of the world's largest PV manufacturers in decreasing shipment and revenue guidances for the third quarter of 2011, including industry leaders Suntech, JA Solar, Yingli and Trina. Across the board, PV manufacturers have cited lower than anticipated demand and continued price pressures.

JinkoSolar will release full third quarter 2011 results on November 21st, 2011.