SHANGRAO, China, Dec. 20,
2023 /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 its board of directors ("Board") has authorized the
Company to extend its existing share repurchase program launched in
July 2022 for an additional 18-month
period through June 30, 2025. Under
the existing share repurchase program, the Company is authorized to
repurchase up to US$200 million of
its ordinary shares represented by American depositary shares
("ADSs"). As of the date of this press release, the Company had
repurchased approximately US$9.1
million of the ADSs authorized under the existing share
repurchase program, and the remaining approximately US$190.9 million of the ADSs had not been
utilized. Under the extended share repurchase program, the Company
may repurchase up to approximately US$190.9
million of its ordinary shares represented by the ADSs
through June 30, 2025.
The Company's proposed repurchases may be made from time to time
on the open market at prevailing market prices in open-market
transactions, privately negotiated transactions or block trades,
and/or through other legally permissible means, depending on market
conditions and in accordance with the applicable rules and
regulations. The timing and conditions of the share repurchases
will be subject to various factors including the requirements under
Rule 10b-18 and Rule 10b5-1 of the
Exchange Act, as well as the Company's insider trading policy. The
Company plans to use its existing funds and external financing to
fund repurchases made under the Share Repurchase Program.
Mr. Xiande Li, JinkoSolar's
Chairman of the Board and Chief Executive Officer, commented, "This
extended share repurchase program further reflects our strong
confidence in our future prospects. The competitive advantage of
our N-type TOPCon technology, extensive global operation network,
and advanced integrated capacity structure have ideally positioned
us to benefit from the growth opportunities this sector continues
to generate. We remain fully committed to creating sustainable
value for our shareholders."
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, Netherlands, Poland, Austria, Switzerland, Greece and other countries and regions.
JinkoSolar had 14 productions facilities globally, 24 overseas
subsidiaries in Japan,
South Korea, Vietnam, India, Turkey, Germany, Italy, Switzerland, the
United States, Mexico,
Brazil, Chile, Australia, Canada, Malaysia, the United
Arab Emirates, Denmark,
Indonesia, Nigeria and Saudi
Arabia, and global sales teams in China, the United
States, Canada,
Brazil, Chile, Mexico, Italy, Germany, Turkey, Spain, Japan,
the United Arab Emirates,
Netherlands, Vietnam and India, as of September
30, 2023.
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
Mr. Rene Vanguestaine
Christensen
Tel: +86 178 1749 0483
Email: rene.vanguestaine@christensencomms.com
In the U.S.:
Ms. Linda Bergkamp
Christensen, Scottsdale,
Arizona
Tel: +1-480-614-3004
Email: linda.bergkamp@christensencomms.com
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SOURCE JinkoSolar Holding Co., Ltd.