1. Desafios no Mercado
CLAUDIO LOUREIRO

2. Company Overview
Headquarters  Beijing, China
Date est. / IPO  May 2005 / February 2007 (NASDAQ: JASO)
8.5 GW solar module Capacity in 2018  7 GW solar cell
5 GW silicon wafer
 2014: 3.1 GW  2016: 5.2GW
Shipments
 2015: 4.0 GW  2017: 7.6GW
Employees  14,492 as of March 2018
Industry Leader
Solid Finance
Business  Optimized Vertically Integrated Model Highlights  Global Market Coverage and Diversified
Customer Base
Advanced Innovation
High conversion efficiency
Products
Advantages  High reliability
High yield efficiency

3. Advanced Innovation
Global leader of PV cell technologies through innovation and
invention
The first company in the world started mass producing and commercializing selective emitter, MWT, and PERC structured PV cells
The first company in the world applied double-printing technology to all
cell manufacturing lines
Industry front runner of PV module performance based on proprietary technical approaches
The efficiency of independent innovation main products-Cypress 5 cell is 0.4% higher than the industry average.
The conversion efficiency of PERCIUM mono cell is 1.3% higher than the industry main products.
The conversion efficiency of RIECIUM mono cell is 0.6% higher than the industry main products.

4. Product Advantages – High Reliability
100% in-house automatic module manufacturing to guarantee product quality and performance
Manufacturing Process, Quality, and Facility Certified by TÜV SÜD, CTF and ETL, and Third-
Parties Agencies Including PI-Berlin and Solar-IF
Long-term Reliability Tests
Mechanical load test 5400Pa to 10000Pa (about 2×IEC standard)
HAST test DH1000 （85℃ and 85% RH) to 121℃ 3 times atmospheric pressure and 100%RH
Thresher test (about 3×IEC standard) 
Environment Endurance Tests
Ammonia Resistance Test Salt Mist Spray Test, S02
Resistance Test, Dust and Sand Test
Hot-Dry Climate, Damp-Heat Climate, and Plateau Climate Conditions

5. Product Advantages – High Reliability
100% Mass-production of PID-resistant Cell and Double 85 Anti-PID 96 hours test standard for All Modules
PID: Potential Induced Degradation
Excellent Quality Management System and Product Quality Assurance 1

6. Product Advantages – High Yield Efficiency
Outstanding Low-light Performance
The modules are classified into three current category
Current class—H (high)
Current class—M (middle)
Current class—L (low)

7. After Sale Service Product Warranty Additional Insurance Options
12-year warranty on materials and workmanship
25-year linear power warranty（>80%）
Additional Insurance Options

8. Industry Leader Cell Module
——more than 27GW cumulative shipments by the end of 2017 Q4
Shipments(MW）
Shipment Ratio (%)
8000
7628
358
100%
90%
80%
70%
60%
50%
40%
30%
20%
10% 0%
7000
6000
5167
Cell
5000
314
3991
4000
265
3058
7270
3000
2072
651
4853
1695
1702
2000
1463
Module
3726
898
763
1210
2407
1000
1246
939
1174
277
509
217
485
2008
2009
2010
2011
2012
Module
2013
Cell
2014
2015
2016
2017

9. Global Leading Bankable Module Brand
2017 Top Bankable Module Brands by BNEF survey
Rank
PV Module Manufacturer
'Bankable'
'Never Heard'
'Not Bankable' 1
Canadian Solar
100% 0% 2
First Solar 3
JA Solar 4
Jinko Solar 5
Kyocera 6
SunPower 7
Trina 8
LG Electronics
94% 6% 9
Panasonic 10
Solar Frontier 11
Hanwha Q CELLS 12
REC Group
88% 13
Hyundai Heavy
81%
13% 14
Sharp
75%
19% 15
Renesola
25% 16
Talesun
69% 17
ET Solar
63% 18
Suntech
56%
38%
Source: BNEF

10. Solid Finance for Future Growth
——Altman-Z scores of solar companies pure players
First Solar, 3.18
Longi, 2.36
JA Solar,
DAQO,
1.44
1.60
Jinko,
1.22
CSIQ,
0.70
Hareon,
REC Silicon,
-0.04
-4.35
Eging, 2.34
HQCL, 1.29
GCL Poly, 0.58
GCL System,
1.48
S-Energy, 0.90
SunPower,
-0.19
Yingli,
Asia
Americas
Europe
-3.80
Source: “BNEF：Q Global PV Market Outlook” 16

11. Optimized Vertically Integrated
Polysilicon
Silicon Wafer 5 GW
Cell
7 GW
Module
8.5 GW
System

12. State-of-The-Art Production Facilities
Ningjin Cell and Module Facility
Hebei Province
Cell: 2500 MW Module: 600 MW
Baotou Facility
Inner Mongolia
Zhangjiakou module Facility
Hebei Province
Under the construction
Under the construction
Xingtai Module Facility
Hebei Province 1900 MW
Headquarters in
Beijing
Fengxian Module Facility
Shanghai City MW
Lab partnership with TÜV and
Intertek
Yangzhou Cell and R&D Facility
Jiangsu Province
Office in Shanghai
3300 MW
JA Malaysia Cell Facility
1200MW
Lianyungang Wafer Facility
Jiangsu Province
2500 MW
Hefei Module Facility
Anhui Province 4100 MW
Yanjiao Wafer Facility
Hebei Province
2000 MW
JA Vietnam Wafer Facility
500MW

13. Global Market Coverage ——A global sales network over 100 countries
External shipments by region
(% of total MW shipped)
2016
Europe Others 1%
North 5%
Americas 9%
South America 10%
China 53%
APAC 22%
2017
Others 3%
Europe 7.8%
North America 14.9%
South America 0.3%
China 48.4%
APAC 45.6%

14. Diversified Customer Base – 80 MWp in DG @ Brazil14

15. Selected Projects 15 Ituverava 260MW Project Bahia, Brazil 260 MW
Largest Solar Installation in Israel,
Arava Desert and Negev Desert, Israel
35 MW
30MW Project in Japan
Tomakomai, Japan
30 MW
India 115 MW project in Telangana
Telangana, India
115 MW 15

16. Challenges #1/2/3... FINANCE! - better interest rates OTHERS:
EDUCATION
- knowledgeable workforce
TECHNOLOGY
- What is coming is not what is available
PRICING
- think CAPEX

17. Harvest the Sunshine Premium Cells, Premium Modules
Thank you !
May 4, 2018