SHANGRAO, China, June 28, 2021 /PRNewswire/ -- JinkoSolar Holding
Co., Ltd. ("JinkoSolar" or the "Company") (NYSE: JKS), one of the
largest and most innovative solar module manufacturers in the
world, today announced that the application documents regarding a
potential initial public offering and listing of the shares of
Jinko Solar Co., Ltd. ("Jiangxi Jinko"), a principal operating
subsidiary of JinkoSolar, had been submitted to and received by the
Shanghai Stock Exchange.
In September 2020, JinkoSolar
announced its intention to list the shares of Jiangxi Jinko on the
Shanghai Stock Exchange's Sci-Tech innovation board (the "STAR
Market"), a stock exchange intended to support innovative companies
in China.
According to Jiangxi Jinko's relevant initial public offering
documents, it plans to issue no more than 2,666,666,666 shares,
assuming that the over-allotment option is not exercised ("Offering
Shares"). The Offering Shares will represent 10% to 25% of the
total share capital of Jiangxi Jinko upon completion of this
offering. Currently, JinkoSolar owns approximately 73.28% of
Jiangxi Jinko's shares. Following this initial public offering,
JinkoSolar would hold approximately 54.96% of Jiangxi Jinko's
shares (calculated assuming 2,666,666,666 shares will be issued in
this offering).
The proceeds of the offering, which are subject to the actual
size and pricing of the offering, will be used for capital
expenditures for 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 RMB5.6 billion
and Jiangxi Jinko plans to allocate approximately RMB4.0 billion for this project from the proceeds
of the offering.
- Construction of the Company's research and development center
in Haining. The total capital expenditure for this project is
expected to be approximately RMB749.8
million and Jiangxi Jinko plans to allocate approximately
RMB500.0 million for this project
from the proceeds of the offering.
- Additional working capital of approximately RMB1.5 billion.
The completion of the proposed initial public offering of
Jiangxi Jinko 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
successfully complete the listing of Jiangxi Jinko's shares, the
related timeline or the actual size and pricing of the
offering.
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 22 GW for mono wafers,
11.5 GW for solar cells, and 31 GW for solar modules, as of
March 31, 2021.
JinkoSolar has 9 productions facilities globally,
22 overseas subsidiaries in Japan, South
Korea, Vietnam,
India, Turkey, Germany, Italy, Switzerland, United States, Mexico,
Brazil, Chile, Australia, Portugal, Canada, Malaysia, UAE, Hong
Kong, Denmark, and global
sales teams in China, United Kingdom, France, Spain, Bulgaria, Greece, Ukraine, Jordan, Saudi
Arabia, Tunisia,
Morocco, South Africa, Costa
Rica, Colombia,
Panama, Kazakhstan, Malaysia, Myanmar, Sri
Lanka, Thailand,
Vietnam, Poland and Argentina, as of March 31, 2021.
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. Stella Wang
JinkoSolar Holding Co., Ltd.
Tel: +86 21- 5180-8777 ext.7806
Email: ir@jinkosolar.com
Rene Vanguestaine
Christensen
Tel: +86 178 1749 0483
Email: rvanguestaine@ChristensenIR.com
In the U.S.:
Ms. Linda Bergkamp
Christensen
Tel: +1-480-614-3004
Email: lbergkamp@ChristensenIR.com
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SOURCE JinkoSolar Holding Co., Ltd.