Jinkosolar Hold Stock Price, News & Analysis

JinkoSolar has signed a long-term purchase agreement with subsidiaries of Tongwei Co., Ltd. for nearly 100,000 metric tons of polycrystalline silicon (Poly-Si). This agreement aims to ensure a stable supply of raw materials, aligning with JinkoSolar's strategic plans. Pricing for additional orders will be based on market conditions. The partnership is expected to enhance JinkoSolar's competitive edge and support the renewable energy market's growth.

JinkoSolar Holding Co., Ltd. (NYSE: JKS) announced a successful RMB 3.1 billion (US$ 458 million) equity financing by its subsidiary, Jiangxi Jinko, aimed at qualifying for a listing on China's STAR Market. Following this financing, prominent Chinese investors will own about 26.7% of Jiangxi Jinko. CEO Kangping Chen emphasized this milestone supports future capacity expansion and R&D. JinkoSolar will maintain majority control post-listing, reinforcing its commitment to shareholder value.

JinkoSolar (NYSE: JKS) has signed a Module Supply Agreement for the Kozani solar project in Greece, developed by juwi Hellas. Construction is set to start in November 2021, utilizing 204 MW of Swan bifacial modules. This project aims to be a benchmark for renewable energy in Europe, providing competitively priced, subsidy-free solar power. JinkoSolar's innovative modules play a key role in this endeavor, which is one of the largest utility-scale projects to deploy bifacial technology in Europe.

JinkoSolar (NYSE: JKS) reported its second quarter 2020 financial results, showing a 31.0% rise in solar module shipments to 4,469 MW and total revenues of RMB8.45 billion (US$1.20 billion), exceeding guidance. Net income attributable to shareholders was RMB318.0 million (US$45.0 million), a significant increase from the previous year. Despite a slight gross margin decline to 17.9%, JinkoSolar anticipates strong demand continuing through 2020, projecting third quarter module shipments of 5.0 to 5.3 GW. The company plans to list its subsidiary Jiangxi Jinko on the STAR Market to enhance growth opportunities.

JinkoSolar Holding Co., Ltd. (NYSE: JKS) announced a strategic plan to list its subsidiary, Jiangxi Jinko, on China's STAR Market within three years. The board approved an equity financing raising RMB 3.1 billion (approximately US$ 458 million) from notable investors for a 26.7% stake, with a pre-money valuation of RMB 8.5 billion. This valuation is 15.6% higher than JinkoSolar's market cap as of September 18, 2020. The listing aims to enhance growth opportunities and strengthen JinkoSolar's market position.

JinkoSolar (NYSE: JKS) has been invited to speak at Climate Week NYC 2020, the largest climate summit, organized by the Climate Group and the United Nations. The company will participate in the RE100 Members Forum, celebrating organizations committed to renewable energy. JinkoSolar is the first module supplier to join RE100, which includes 254 companies demanding over 240 TWh of electricity annually. This commitment signals the economic viability of renewable electricity and positions JinkoSolar as a leader in the transition to a low-carbon economy.

JinkoSolar (NYSE: JKS) announced a partnership with ENEOS, Japan's largest oil refiner, to provide solar modules for a Virtual Power Plant (VPP) project. This initiative marks JinkoSolar's entry into the VPP sector in Japan, utilizing high-efficiency monocrystalline products to integrate with gas stations for a cloud-based energy network. The VPP aims to optimize battery control and maximize solar energy utilization. JinkoSolar is recognized as the first foreign solar manufacturer to ship over 1 GW annually in Japan, showcasing its commitment to renewable energy and collaboration with local partners.

On September 14, 2020, JinkoSolar (NYSE: JKS) announced it supplied Trung Nam Group with 611MW of its advanced Tiger bifacial transparent backsheet modules for the Thuan Nam solar power plant in Vietnam. This project is among the largest solar initiatives utilizing bifacial modules in Southeast Asia. The Tiger modules, featuring half-cell and Tiling Ribbon technologies, enhance efficiency, reliability, and reduce electricity costs. JinkoSolar’s solutions aim to boost solar energy deployment and support Vietnam’s renewable energy objectives.

JinkoSolar Holding Co., Ltd. (NYSE: JKS) has achieved a perfect score of 100/100 in the Silicon Valley Toxics Coalition's Solar Scorecard, surpassing 36 other manufacturers. This score emphasizes JinkoSolar's commitment to environmental, health, and safety metrics in solar module production. A year prior, the company joined the RE100 initiative, pledging to power its operations entirely with renewable energy by 2025. CEO Kangping Chen expressed a desire for industry-wide sustainable practices, while the SVTC praised JinkoSolar's leadership in responsible manufacturing.