SHANGRAO, China, Oct. 29, 2020 /PRNewswire/ -- JinkoSolar Holding
Co., Ltd. ("JinkoSolar") (NYSE: JKS), one of the largest and most
innovative solar module manufacturers in the world, today announced
the completion of a RMB 3.1 billion
(approximately US$ 458 million)
equity financing by its principal operating subsidiary Jinko Solar
Co., Ltd. ("Jiangxi Jinko").
As previously announced, the equity financing was conducted to
qualify Jiangxi Jinko for a listing on the Shanghai Stock
Exchange's Sci-Tech innovation board (the "STAR Market") and to
raise additional capital to support its continuous expansion.
Immediately after the closing, reputable Chinese third-party
investors including China Industrial Bank Group, CIIT Asset
Management Co., Ltd., YunShang Fund, Huaho Capital, and China
Capital Management Co., Ltd., China Securities Investment Co.,
Ltd., together with JinkoSolar's founders and senior management
personnel, directly or through their investment arms, will
collectively own approximately a 26.7% equity interest in Jiangxi
Jinko.
Mr. Kangping Chen, Chief
Executive Officer of JinkoSolar, commented, "The successful
completion of this fundraising marks an important milestone for us
and takes us one step closer to the planned listing of Jiangxi
Jinko in China. It also provides
us with the capital to expand our capacity and further strengthen
our leading position in R&D. We are thankful for the strong
support from our new investors and are committed to creating
sustainable value for all our shareholders."
Following the closing of this transaction, JinkoSolar will
actively prepare for the planned STAR Market listing of Jiangxi
Jinko pursuant to relevant laws and regulations in China. JinkoSolar remains fully committed to
its shareholders and its NYSE listing and will remain the majority
and controlling shareholder of Jiangxi Jinko after its STAR Market
listing.
About JinkoSolar Holding Co., Ltd.
JinkoSolar (NYSE: JKS) is one of the largest and most
innovative solar module manufacturers in the
world. JinkoSolar distributes its solar products and
sells its solutions and services to a diversified international
utility, commercial and residential customer base
in China, the United States, Japan, Germany,
the United Kingdom, 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 20 GW for mono wafers, 11 GW for solar cells,
and 25 GW for solar modules, as of June 30, 2020.
JinkoSolar has 7 production facilities globally, 14 overseas
subsidiaries in Japan,
South Korea, Vietnam, India, Turkey, Germany, Italy, Switzerland, United
States, Mexico,
Brazil, Chile, and Australia, and global sales teams in
China, United Kingdom, France, Spain, Bulgaria, Greece, Ukraine, Jordan, Saudi
Arabia, Tunisia,
Morocco, Kenya, South
Africa, Costa Rica,
Colombia, Panama, Kazakhstan, Malaysia, Myanmar, Sri
Lanka, Thailand,
Vietnam, Poland, and Argentina.
To find out more, please see: www.jinkosolar.com
Safe Harbor Statement
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 U.S. Private Securities Litigation Reform Act
of 1995. These forward-looking statements can be identified by
terminology such as "will," "expects," "anticipates," "future,"
"intends, "plans," "believes," "estimates" and similar statements.
Among other things, the quotations from management in this press
release and the Company's operations and business outlook, contain
forward-looking statements. Such statements involve certain risks
and uncertainties that could cause actual results to differ
materially from those in the forward-looking statements. Further
information regarding these and other risks is included in
JinkoSolar's filings with the U.S. Securities and Exchange
Commission, including its annual report on Form 20-F. Except as
required by law, the Company does not undertake any 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:
In China:
Ms. Ripple Zhang
JinkoSolar Holding Co., Ltd.
Tel: +86 21-5183-3105
Email: ir@jinkosolar.com
Mr. Rene Vanguestaine
Christensen
Tel: + 86 178 1749 0483
Email: rvanguestaine@ChristensenIR.com
In the U.S.:
Ms. Linda Bergkamp
Christensen, Scottsdale,
Arizona
Tel: +1-480-614-3004
Email: lbergkamp@ChristensenIR.com
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SOURCE JinkoSolar Holding Co., Ltd.