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Under the plan, a&#160;total of <font>12,766</font> ordinary&#160;shares of JinkoSolar Power were initially reserved for issuance. 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background-color: #cceeff;"> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; width: 68%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Land use rights</font></td> <td style="font-family: 'times new roman'; padding: 0px; width: 2%;"></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; width: 1%;"></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">386,909,459</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 2%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; 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The net book value of the inventory was</font> RMB<font>139,414,527</font>.</font></td> </tr> </table> <p style="text-align: justify; margin: 0pt 0px 0pt 0.5in; font: 10pt Times New Roman, Times, Serif;"><br/></p> <table style="margin-top: 0pt; font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt;" cellspacing="0" cellpadding="0" width="100%"> <tr style="vertical-align: top;"> <td style="width: 0.25in;"></td> <td style="width: 0.25in;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#149;</font></td> <td><font style="font-family: 'times new roman', times; font-size: 10pt;">Borrowings of RMB<font>110,000,000</font>&#160;<font style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 13.3333330154419px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;">collateralized on the Group's land use right. 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font-family: 'times new roman', times;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><font>1,540,398,645</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td> <td style="font-family: 'times new roman'; 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Canton Best BVI is a wholly owned subsidiary of JinkoSolar Power, and Wide Wealth Hong Kong is a wholly owned subsidiary of Canton Best BVI. Wide Wealth Hong Kong holds 100% equity interests in Jinko Engineering which further holds 100% equity interests in Jinko Power Co., Ltd. (Zhejiang). Jinko Power Co., Ltd. (Zhejiang) holds 43 solar power project entities in the PRC. Elimination refers to (1) the elimination of revenue and profit from the sale of solar modules from the manufacturing segment to the solar project segment; (2) the elimination of unsettled receivables of the manufacturing segment and unsettled payables of the solar projects segment resulting from the above sales of solar modules. Change of enacted tax rate decreased from 43.8% in 2013 to (9.2)% in 2014 is due to the different enacted tax rate used in the calculation of long-term deferred tax assets and liabilities, as certain subsidiaries are entitled to three-year tax exemption and three-year 50% CIT reduction tax holiday. The Company recorded an out-of-period adjustment of RMB12,146,071 in the year ended December 31, 2012, resulting from income tax filing difference for two PRC entities, which should have been recorded in the year ended December 31, 2011. The originating amount in 2011 was not material to the 2011 consolidated financial statements, nor was the out of period adjustment recorded in 2012 material to the 2012 consolidated financial statements. These provision expenses were not treated as tax deductible items for calculating taxable income in the year ended December 31, 2012, and were fully deductible in the year ended December 31, 2014 upon subsequent approval from the local tax authorities. In connection with the issuance of preferred shares by JinkoSolar Power in July 2014, China Development Bank, through its subsidiary, holds 21% equity interests of JinkoSolar Power on an as-if-converted basis. The above borrowings represent borrowings from subsidiaries of China Development Bank.