05-27-2014, 11:08 PM
Due to the depreciation of RMB against the US dollar and euro during the first quarter of 2014, the Company recorded an exchange loss of RMB137.4 million (US$22.1 million) in the first quarter of 2014, which was primarily due to a foreign currency exchange loss of RMB23.0 million (US$3.7 million) and loss in fair value change of forward contracts of RMB114.4 million (US$18.4 million), including an unrealized loss of RMB110.4 million (US$17.8 million). The Company had net exchange gain of RMB9.2 million in the fourth quarter of 2013 and net exchange loss of RMB18.7 million in the first quarter of 2013.
JinkoSolar Announces First Quarter 2014 Financial Results | Seeking Alpha