Quarterly Highlights In first-quarter 2019, JinkoSolar's total solar modules shipment was 3,037 megawatts, up 50.7% year over year. The company's total operating expenses flared up 37.2% year over year to $108.6 million. This upswing resulted from the rise in shipping costs as a percentage of total revenues associated with a significant higher percentage of shipments to overseas markets. The company incurred $14.3 million as interest expenses, up 12.5% year over year, due to higher borrowings and the cessation of interest capitalization on certain completed solar projects. Financial Condition As of Mar 31, 2019, JinkoSolar had cash and cash equivalents of $485.7 million, up from $451.6 million as of Dec 31, 2018. Total interest-bearing debts as of Dec 31, 2018, were $1.79 billion compared with $1.41 billion as of Dec 31, 2018.