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Chinese Firms Prefer Dying to Being Bought, JinkoSolar Says

Chinese solar-panel makers, which supply more than half the world market, will respond to the supply glut by shutting factories or their entire businesses rather than merging, a JinkoSolar Holding Co. official said.

The weakest companies should "weed out" about 75 percent of output capacity so that China has a "reasonable" 20 gigawatts compared with 75 gigawatts estimated by the second quarter of 2013, Zhang Longgen, chief financial officer of the Shanghai-based solar module maker, said in a Jan. 4 telephone interview.