JinkoSolars CEO, Kangping Chen cited weak market demand and decreasing average selling prices as the key reasons behind the companys decision.
Therefore, as opposed to shipping between 230 and 250 megawatts (MW) worth of solar modules in Q3 2011, it now believes between 210 and 220 MW will be shipped. For the full year, meanwhile, it now expects to ship a total of between 770 and 900 MW, instead of between 950 and 1,000 MW.
In terms of revenues, JinkoSolar has lowered its Q3 expectations, from between USD$310 million and $330 million, to between $270 million and $280 million. For the full year, it predicts revenues of between $1.1 billion to $1.2 billion, as opposed to between $1.4 billion to $1.5 billion.
The company will release its Q3 results on November 21.