SHANGRAO, China, June 28, 2021 / PRNewswire / – JinkoSolar Holding Co., Ltd. (“JinkoSolar” or the “Company”) (NYSE: JKS), one of the world’s largest and most innovative solar module manufacturers, today announced that the bid documents for a public offering initial potential and listing of shares of Jinko Solar Co., Ltd. (âJiangxi Jinkoâ), a main operating subsidiary of JinkoSolar, had been submitted and received by the Shanghai Stock Exchange.
In September 2020, JinkoSolar announced its intention to list Jiangxi Jinko shares on the Sci-Tech innovation board of the Shanghai Stock Exchange (the âSTAR Marketâ), an exchange intended to support innovative companies in China.
According to the relevant documents of Jiangxi Jinko’s initial public offering, it plans to issue a maximum of 2,666,666,666 shares, assuming the over-allotment option is not exercised (âOffered Sharesâ). The Offered Shares will represent 10% to 25% of the total share capital of Jiangxi Jinko at the close of this offering. Currently, JinkoSolar owns about 73.28% of the shares of Jiangxi Jinko. Following this initial public offering, JinkoSolar would own approximately 54.96% of the shares of Jiangxi Jinko (calculated assuming that 2,666,666,666 shares will be issued under this offering).
The proceeds of the offer, which is subject to the actual size and price of the offer, will be used for the capital expenditure of the following two projects and additional working capital for Jiangxi Jinko.
- Construction of the Company’s production lines in Haining for 7.5 GW high efficiency solar cells and 5 GW high efficiency solar modules. The total capital expenditure for this project is expected to be approximately 5.6 billion RMB and Jiangxi Jinko plans to allocate approximately 4.0 billion RMB for this project from the product of the offer.
- Construction of the Company’s research and development center in Haining. The total capital expenditure for this project is expected to be approximately 749.8 million RMB and Jiangxi Jinko plans to allocate approximately 500 million RMB for this project from the product of the offer.
- Additional working capital of approximately 1.5 billion RMB.
Completion of Jiangxi Jinko’s proposed initial public offering is subject to the review process by the Shanghai Stock Exchange and the registration process by the China Securities Regulatory Commission. JinkoSolar cannot predict its ability to complete the listing of Jiangxi Jinko shares, the associated timing or the actual size and price of the offering.
About JinkoSolar Holding Co., Ltd.
JinkoSolar (NYSE: JKS) is one of the world’s largest and most innovative solar module manufacturers. JinkoSolar distributes its solar products and sells its solutions and services to a diverse international customer base of utility, commercial and residential services in China, United States, Japan, Germany, the UK, Chile, South Africa, India, Mexico, Brazil, the United Arab Emirates, Italy, Spain, France, Belgium, and other countries and regions. JinkoSolar has built a vertically integrated solar product value chain, with an integrated annual capacity of 22 GW for monowafers, 11.5 GW for solar cells and 31 GW for solar modules, as of March 31, 2021.
JinkoSolar has 9 production facilities in the world, 22 overseas subsidiaries in Japan, South Korea, Vietnam, India, turkey, Germany, Italy, Switzerland, United States, Mexico, Brazil, Chile, Australia, Portugal, Canada, Malaysia, United Arab Emirates, Hong Kong, Denmark, and global sales teams in China, UK, France, Spain, Bulgaria, Greece, Ukraine, Jordan, Saudi Arabia, Tunisia, Morocco, South Africa, Costa Rica, Colombia, Panama, Kazakhstan, Malaysia, Burma, Sri Lanka, Thailand, Vietnam, Poland and Argentina, as of March 31, 2021.
For more information, please see: www.jinkosolar.com
Safe Harbor Declaration
This press release contains forward-looking statements. These statements constitute “forward-looking” statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the US Private Securities Litigation Reform Act. of 1995. These forward-looking statements may be identified by words such as âwillâ, âexpectsâ, âanticipatesâ, âthe futureâ, âintention,â plans â,â believes â,â believes â. And similar statements. other matters, management quotes in this press release and the Company’s operations and business outlook, contain forward-looking statements. These statements involve certain risks and uncertainties which could cause actual results to differ materially from those of forward-looking statements. Information regarding these and other risks is included in documents filed by JinkoSolar with the United States Securities and Exchange Commission, including its annual report on Form 20-F. undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.
For investor and media inquiries, please contact:
M / s. Stella wang
JinkoSolar Holding Co., Ltd.
Phone. : +86 21- 5180-8777 ext. 7806
E-mail: [emailÂ protected]
Phone. : +86 178 1749 0483
E-mail: [emailÂ protected]
In the USA:
M / s. Linda bergkamp
Phone. : + 1-480-614-3004
E-mail: [emailÂ protected]
SOURCE JinkoSolar Holding Co., Ltd.