SHANGRAO, China, Oct. 21,
2024 /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 Jinko Solar Co., Ltd. ("Jiangxi Jinko"), its
majority-owned principal operating subsidiary, intends to issue an
aggregate of up to 1,000,519,986 A shares (the "Shares"),
RMB1.0 par value per Share, in the
form of Global Depositary Receipts ("GDRs") (including
Shares issued as a result of the exercise of any over-allotment
option, if any) (the "GDR Offering"). Each GDR represents 10
Shares. Jiangxi Jinko intends to apply for listing the GDRs on the
Frankfurt Stock Exchange in Germany. The size of the GDR Offering is
subject to market conditions and may be adjusted by Jiangxi
Jinko's board of directors (subject to authorization from its
shareholders at the shareholders' meeting).
The GDRs will represent not more than 10% of the total share
capital of Jiangxi Jinko prior to this offering. JinkoSolar
currently owns approximately 58.59% equity interest in Jiangxi
Jinko. Following the GDR Offering, JinkoSolar will own
approximately 53.26% equity interest in Jiangxi Jinko (calculated
assuming 1,000,519,986 Shares will be issued in the GDR
Offering).
The gross proceeds from the GDR Offering are expected to be not
more than RMB4.5 billion (or its
equivalent in foreign currencies), which, after deducting offering
expenses, will be used for (i) construction and development of 1 GW
High-efficiency Module Project in the U.S., (ii) construction and
development of Shanxi Phase II 14 GW Integrated Production Base
Project for manufacturing of monocrystalline silicon pull rod,
silicon wafer, high-efficiency solar cells and modules, and (iii)
working capital or repayment of bank loans for Jiangxi Jinko. The
use of proceeds raised is subject to the disclosure in the offering
document or other registration documents.
The completion of the GDR Offering is subject to the approval of
Jiangxi Jinko's shareholders, the approvals by the Shanghai Stock
Exchange, Frankfurt Stock Exchange and the Federal Financial
Supervisory Authority in Germany,
and the registration process by the China Securities Regulatory
Commission. Jiangxi Jinko cannot guarantee its ability to
successfully complete the listing of the GDRs, the related timeline
or the actual size and pricing of the GDR 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, Netherlands, Poland, Austria, Switzerland, Greece and other countries and regions.
JinkoSolar had over 10 productions facilities globally, over 20
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 a global sales network with 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 June 30,
2024.
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.
