SolarfunSolarfunSolarfunSolarfunPiper Jaffray Clean Tech & Renewables Conference

February 2009

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This document contains statements that reflect the Company’s beliefs and expectations aboutthe future. These forward-looking statements are based on a number of assumptions aboutthe future. These forward looking statements are based on a number of assumptions aboutthe Company’s operations, and are subject to risks, uncertainties and other important factors,many of which are beyond the Company’s control, and, accordingly, actual results may differmaterially from the results discussed in these forward-looking statements.

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Consistent GrowthO 10 f l t i f t i iOver 10 years of electronic manufacturing experience

2008• Continued vertical integration: Purchase of silicon slicing facility, completed purchase of

Y S lYangguang Solar• Harold Hoskens becomes CEO• Good Energies increased ownership stake to 34.7%

2007• Established German Spanish American and Australian sales offices• Established German, Spanish, American, and Australian sales offices.• Obtained UL certification and began operation of 7th and 8th cell production lines.• Integrated vertically to include wafer production, via partial purchase of Yangguang Solar.

2006• Listed on Nasdaq stock exchange as SOLF following $53 Million investments from• Listed on Nasdaq stock exchange as SOLF, following $53 Million investments from

Citigroup Venture Capital, Hony Capital, Legend Capital, and Good Energies.

2005• Obtained IEC 61215 certification and delivered first export order.• First cell production line began commercial operation• First cell production line began commercial operation.c

2004• Solarfun Power Holdings founded.• First solar module production line completed.

1997• Linyang Group founded. Manufacturing electric meters, Linyang has grown from 16 employees to become #1 in China and holding over 1/3 of the domestic market share.

ExpertiseExpertiseThroughout the Value Chain

Ingot + WaferProduction

Ingot + WaferProduction

Cell Production

Cell Production

Module Production

Module Production

SystemIntegration

SystemIntegration ServiceService

Investment Highlights

Investment Highlightsg g

Rapidly Growing Production Scale –p y gCurrently 360MWVertical Integration StrategyFlexible Silicon and Wafer Supplier BaseDiversified Customer Base – 200MW 2009 ContractedOperational Efficiency Gains – Technology and ProcessLow-Cost Converter of Poly-silicon

Vertical Integration Strategy –I t & W f P d tiIngot & Wafer Production

In order to reduce costs and improvelit d li bilit f d liquality and reliability of delivery, we

have invested in ingot and wafermanufacturing capacityT k f ll t l f Y S lTook full control of Yangguang Solar,an ingot maker in Jiangsu province100 MW of ingot capacity at end of2008 250MW b th id f 20092008, 250MW by the mid of 2009Meet 40-50% of 2009 wafer needsWholly-owned 250MW capacity wiresawingProduction output has met Solarfun’squality expectations

Current EnvironmentCurrent Environment

Impact of Global Financial EnvironmentImpact of Global Financial Environment

Over Supply Modules and Poly-silicon

Selling Prices Reduced 20-30%

Poly-silicon Costs 40-50% lower

1Q09 Low Point of Demand

Both Sales and Purchase ContractsBoth Sales and Purchase Contracts under review

Our Growing & Diversified C t BCustomer BaseEstimate 175MW in shipment for 2008.Customer base remains diversified with onlytwo customers accounting for over 10% ofsales.Diversified geographic footprint now includessales in Germany, Spain, Italy, France,Switzerland and other countriesSwitzerland, and other countries.Additional markets show good potential:Korea, Middle East, United StatesFramework commitments improve revenuevisibilityASP’s currently US$ 2 75 2 80ASP s currently US$ 2.75-2.80

Key Balance Sheet Items & W ki C it l M t iWorking Capital Metrics

(US $ 000) Dec 31, 2007 Mar 31, 2008 June 30, 2008 Sep 30,2008

Cash and cash equivalents 37,415 84,877 81,315 75,317

Inventory 99 866 108 496 120 042 110 714Inventory 99,866 108,496 120,042 110,714 DOS 69 68 63 58

Account Receivables 59,043 96,211 64,468 51,248 DSO 51 41 37 28

Attention on AR collection and inventory management

Bank Borrowings 134,346 167,296 186,781 151,177

Attention on AR collection and inventory management Cash on hand + expanded commercial credit lines, are adequate to meet anticipated 2009 funding needs

Strategies for A Dynamic Industryg y yCurrent Future

Re-base supply/demand

Price sensitivity

Growth (be it more limited)

On the road to grid parity

Technology capability

Partnerships and alliances

KeyIndustryTrend

Balance technology / manufacturing capability and

t E it t ith

( ) p

Translate lower Si cost to a sustainable cost advantage

cost: Excite customers with products and services, remain focused on costDiversify future product offering

Focused R&D: – Manufacturing (consistency and

product efficiency)– Products (robustness, efficiency,

differentiation)SolarfunStrategy Diversify future product offering

Strong relations with global key customersLeverage partnership(s) with

differentiation)

Working capital management

Broader geographic (US, MENA) footprint and interface

Strategy

g p p( )industry leaders

MENA) footprint and interface with key customers

Investment Highlightsg g

Rapidly Growing Production Scale –p y gCurrently 360MWVertical Integration StrategyFlexible Silicon and Wafer Supplier BaseDiversified Customer Base – 200MW 2009 ContractedOperational Efficiency Gains – Technology and ProcessLow-Cost Converter of Poly-silicon

Thank You 谢谢Harold Hoskens Paul W. CombsChief Executive Officer Vice President of Strategic Planningg gHarold.Hoskens@solarfun-power.com Paul.Combs@solarfun-power.com86-21-26022866 86-21-26022833