Jinkosolar Hold Stock Price, News & Analysis

JinkoSolar (NYSE: JKS) held its 2024 Annual General Meeting where shareholders approved all proposed resolutions. Key approvals include: the re-election of Mr. Xianhua Li and Mr. Steven Markscheid as directors, the ratification of Mr. Gang Chu's appointment as an independent director, and the appointment of PricewaterhouseCoopers Zhong Tian LLP as the company's auditors for fiscal year 2024. Shareholders also authorized directors to determine auditor remuneration and take necessary actions to implement these resolutions.

JinkoSolar (NYSE: JKS) has received two prestigious awards from EUPD Research: the Solar Prosumer Award and the DACH Energy Transition Award. The Energy Transition Award recognizes pioneers in the energy transition across Germany, Austria, and Switzerland (DACH region) who effectively integrate new energy solutions into their portfolio. The Solar Prosumer Award acknowledges companies that excel in innovative business models and solutions in solar energy, particularly supporting consumers who become energy producers through solar system installations. Frank Niendorf, JinkoSolar's EU Vice-President, highlighted that these awards reflect both their commitment to delivering comprehensive energy solutions and the direct trust of German PV system owners in the JinkoSolar brand.

JinkoSolar (NYSE: JKS) has announced significant changes to its share repurchase program. The Board has approved increasing the program's value from US$200 million to US$350 million and extending its duration through June 30, 2026. As of the announcement, the company had already repurchased approximately US$134.5 million of ADSs under the existing program, leaving about US$215.5 million available for future repurchases.

The company plans to execute these repurchases through various means, including open-market transactions, private negotiations, and block trades, using existing funds and external financing. The program demonstrates JinkoSolar's confidence in its long-term growth, supported by its N-type TOPCon technology and global operations network.

JinkoSolar (NYSE: JKS) has initiated a patent infringement lawsuit against VSUN Solar USA, Toyo Co., and their related entities in the U.S. District Court for the Northern District of California. The lawsuit aims to protect JinkoSolar's intellectual property rights, particularly concerning their proprietary technology. The company holds over 2,800 patents, including 462 patents specifically related to N-type TOPCon technology, positioning them as one of the industry leaders in TOPCon patent holdings.

JinkoSolar and Indigenized Energy announced a significant donation of over 2,000 solar modules to support Tribal Nations across the Midwestern United States. The donation, representing more than 800kW of energy capacity, will benefit the Northern Cheyenne Tribe and Chippewa Cree Tribe in Montana, and the Oglala Sioux Tribe in South Dakota. This initiative builds upon JinkoSolar's previous 300kW donation to the Standing Rock Sioux Tribe in 2019. The projects are connected to Department of Energy grant funding and EPA's Solar For All funding, encompassing both residential and commercial installations.

JinkoSolar (NYSE: JKS) has announced its 2024 annual general meeting, scheduled for December 27, 2024, at 10:00 a.m. (Beijing time) in Shanghai, China. The meeting agenda includes re-election of directors Mr. Xianhua Li and Mr. Steven Markscheid, ratification of Mr. Gang Chu as independent director, and appointment of PricewaterhouseCoopers Zhong Tian LLP as auditors. Only shareholders of record as of November 22, 2024 (New York time) are eligible to vote. The company's 2023 Annual Report and related documents are available on their website.

JinkoSolar reported Q3 2024 financial results with total revenues of RMB24.51 billion (US$3.49 billion), up 1.9% sequentially but down 23.0% year-over-year. Quarterly shipments reached 25,910 MW, including 23,838 MW for solar modules. Gross margin was 15.7%, improving from 11.1% in Q2 2024. Net income was RMB22.5 million (US$3.2 million), recovering from a net loss in Q2. N-type module shipments accounted for ~90% of total module shipments, with mass production efficiency of N-type TOPCon cells reaching 26.2%. The company expects module shipments between 90.0-100.0 GW for full year 2024.

JinkoSolar (NYSE: JKS) has announced it will release its unaudited financial results for the third quarter ended September 30, 2024, before U.S. markets open on Wednesday, October 30, 2024. The company's management will host an earnings conference call at 8:30 a.m. U.S. Eastern Time on the same day. A telephone replay will be available until November 6, 2024, and a webcast will be accessible through the company's Investor Relations website.

JinkoSolar Holding Co., (NYSE: JKS) announced that its subsidiary, Jiangxi Jinko, plans to offer up to 1,000,519,986 A shares as Global Depositary Receipts (GDRs) on the Frankfurt Stock Exchange. Each GDR will represent 10 shares, with the offering not exceeding 10% of Jiangxi Jinko's total share capital. The gross proceeds are expected to be up to RMB4.5 billion, which will be used for:

• Construction of a 1 GW High-efficiency Module Project in the U.S.
• Development of Shanxi Phase II 14 GW Integrated Production Base Project
• Working capital or repayment of bank loans

JinkoSolar's ownership in Jiangxi Jinko will decrease from 58.59% to approximately 53.26% after the offering. The GDR Offering is subject to various approvals and regulatory processes.