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JinkoSolar Repurchased 5,596,739 ADSs under Its Share Repurchase Program

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JinkoSolar Holding Co., (NYSE: JKS), a leading solar module manufacturer, has repurchased 5,596,739 ADSs for approximately US$134.5 million under its share repurchase program. The program, announced in July 2022 and extended in December 2023, now runs through June 30, 2025. As of the press release date, about US$65.5 million remains unutilized in the extended program.

The company may continue repurchasing ADSs through various means, including open-market transactions, private negotiations, and block trades, subject to market conditions and applicable regulations. The timing and conditions of future repurchases will comply with Rule 10b-18, Rule 10b5-1 of the Securities Exchange Act of 1934, and JinkoSolar's insider trading policy.

JinkoSolar Holding Co., (NYSE: JKS), uno dei principali produttori di moduli solari, ha riacquistato 5.596.739 ADS per circa 134,5 milioni di dollari USA nell'ambito del suo programma di riacquisto azionario. Il programma, annunciato a luglio 2022 e prorogato a dicembre 2023, ora è valido fino al 30 giugno 2025. Alla data del comunicato stampa, circa 65,5 milioni di dollari USA rimangono non utilizzati nel programma esteso.

L'azienda potrebbe continuare a riacquistare ADS attraverso vari metodi, inclusi transazioni sul mercato aperto, negoziazioni private e operazioni in blocco, soggetti alle condizioni di mercato e alle normative applicabili. I tempi e le condizioni dei futuri riacquisti saranno in conformità con la Regola 10b-18, la Regola 10b5-1 della Securities Exchange Act del 1934, e la politica di insider trading di JinkoSolar.

JinkoSolar Holding Co., (NYSE: JKS), un importante fabricante de módulos solares, ha recomprado 5,596,739 ADS por aproximadamente 134.5 millones de dólares estadounidenses bajo su programa de recompra de acciones. El programa, anunciado en julio de 2022 y ampliado en diciembre de 2023, ahora se extenderá hasta el 30 de junio de 2025. A la fecha del comunicado de prensa, quedan aproximadamente 65.5 millones de dólares estadounidenses sin utilizar en el programa ampliado.

La empresa puede continuar recomprando ADS a través de varios medios, incluyendo transacciones en el mercado abierto, negociaciones privadas y operaciones en bloque, sujeto a las condiciones del mercado y a las regulaciones aplicables. El momento y las condiciones de futuras recompras cumplirán con la Regla 10b-18, la Regla 10b5-1 de la Ley de Intercambio de Valores de 1934, y la política de operaciones con información privilegiada de JinkoSolar.

JinkoSolar Holding Co., (NYSE: JKS), 주요 태양광 모듈 제조업체인 JinkoSolar는 5,596,739개의 ADS를 재매입하여 약 1억 3,450만 달러를 지출했습니다. 이 재매입 프로그램은 2022년 7월에 발표되었고 2023년 12월에 연장되어 이제 2025년 6월 30일까지 진행됩니다. 보도 자료 발표 시점에서 6,550만 달러가 연장된 프로그램에서 미사용 상태로 남아 있습니다.

회사는 시장 조건 및 관련 규제에 따라 공개 시장 거래, 개인 협상 및 블록 거래 등 여러 방법을 통해 ADS를 계속 재매입할 수 있습니다. 향후 재매입의 시기와 조건은 1934년 증권 거래법의 규칙 10b-18 및 규칙 10b5-1과 JinkoSolar의 내부 거래 정책을 준수할 것입니다.

JinkoSolar Holding Co., (NYSE: JKS), un des principaux fabricants de modules solaires, a réacheté 5.596.739 ADS pour environ 134,5 millions de dollars américains dans le cadre de son programme de rachat d'actions. Le programme, annoncé en juillet 2022 et prolongé en décembre 2023, s'étendra désormais jusqu'au 30 juin 2025. À la date du communiqué de presse, environ 65,5 millions de dollars américains restent inutilisés dans le programme prolongé.

L'entreprise peut continuer à racheter des ADS par divers moyens, y compris les transactions sur le marché ouvert, les négociations privées et les opérations en bloc, sous réserve des conditions du marché et des réglementations applicables. Le calendrier et les conditions des futurs rachats seront conformes à la règle 10b-18, à la règle 10b5-1 de la loi sur les échanges de valeurs mobilières de 1934, et à la politique de négociation d'initiés de JinkoSolar.

JinkoSolar Holding Co., (NYSE: JKS), ein führender Hersteller von Solarmodulen, hat 5.596.739 ADS zurückgekauft für ungefähr 134,5 Millionen US-Dollar im Rahmen seines Aktienrückkaufprogramms. Das Programm, das im Juli 2022 angekündigt und im Dezember 2023 verlängert wurde, läuft jetzt bis zum 30. Juni 2025. Zum Zeitpunkt der Pressemitteilung stehen noch etwa 65,5 Millionen US-Dollar im verlängerten Programm zur Verfügung.

Das Unternehmen kann weiterhin ADS durch verschiedene Mittel zurückkaufen, darunter Transaktionen an der Börse, private Verhandlungen und Blockgeschäfte, abhängig von den Marktbedingungen und den geltenden Vorschriften. Der Zeitpunkt und die Bedingungen zukünftiger Rückkäufe werden mit Regel 10b-18, Regel 10b5-1 des Securities Exchange Act von 1934 sowie der Insider-Handelspolitik von JinkoSolar in Einklang stehen.

Positive
  • Repurchased 5,596,739 ADSs worth US$134.5 million, potentially increasing shareholder value
  • Extended share repurchase program through June 30, 2025, showing long-term commitment
  • US$65.5 million still available for future repurchases, indicating ongoing program
Negative
  • Large cash outlay of US$134.5 million for share repurchases may impact available funds for other investments or operations

Insights

JinkoSolar's share repurchase program demonstrates strong financial health and confidence in its future prospects. The company has already repurchased $134.5 million worth of ADSs, with $65.5 million still available. This reduces the number of outstanding shares, potentially increasing earnings per share and shareholder value.

The extended program through June 2025 provides flexibility in timing and execution, allowing JinkoSolar to capitalize on market fluctuations. However, investors should note that share repurchases reduce cash reserves that could be used for other strategic initiatives or during market downturns. The impact on stock price may be short-term positive but long-term effects depend on the company's overall performance and market conditions.

JinkoSolar's significant share repurchase reflects management's belief that the stock is undervalued. This move can be seen as a positive signal to the market about the company's financial strength and future outlook. The solar industry is experiencing rapid growth and JinkoSolar, as one of the largest manufacturers, is well-positioned to benefit.

However, investors should consider the broader market context. The solar sector faces challenges such as supply chain disruptions and policy uncertainties. JinkoSolar's decision to allocate substantial funds to share repurchases rather than expansion or R&D could be scrutinized if market conditions shift. The program's flexibility allows for adaptation, but its success will ultimately depend on the company's ability to maintain its competitive edge in a fast-evolving industry.

SHANGRAO, China, Aug. 30, 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 as of the date of this press release, the Company has repurchased a total of 5,596,739 ADSs in an aggregate amount of approximately US$134.5 million in the open market under its share repurchase program announced in July 2022 and the extended share repurchase program announced in December 2023.

On December 20, 2023, the Company extended its share repurchase program announced on July 6, 2022 for an additional 18-month period through June 30, 2025. As of the date of this press release, approximately US$65.5 million of the Company's ordinary shares represented by the ADSs under the extended share repurchase program had not been utilized.

The Company may continue to repurchase its ADSs through open-market transactions, privately negotiated transactions or block trades, and/or 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 Securities Exchange Act of 1934, as well as the Company's insider trading policy.

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

 

Cision View original content:https://www.prnewswire.com/news-releases/jinkosolar-repurchased-5-596-739-adss-under-its-share-repurchase-program-302234911.html

SOURCE JinkoSolar Holding Co., Ltd.

FAQ

How many ADSs has JinkoSolar (JKS) repurchased under its share repurchase program?

JinkoSolar has repurchased a total of 5,596,739 ADSs under its share repurchase program.

What is the total value of JinkoSolar's (JKS) share repurchases as of August 30, 2024?

The total value of JinkoSolar's share repurchases is approximately US$134.5 million.

When does JinkoSolar's (JKS) extended share repurchase program end?

JinkoSolar's extended share repurchase program runs through June 30, 2025.

How much of JinkoSolar's (JKS) share repurchase program remains unutilized?

Approximately US$65.5 million of JinkoSolar's share repurchase program remains unutilized.

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