Jinkosolar Hold Stock Price, News & Analysis

JinkoSolar (NYSE: JKS) announced a change in its board of directors on Dec. 8, 2020. Longgen Zhang has resigned while Haiyun (Charlie) Cao has been appointed as a new director. The company believes these changes will not materially impact its operations. CEO Kangping Chen expressed gratitude towards Zhang and noted Cao's extensive industry experience as a positive addition to the board, aimed at enhancing shareholder value. JinkoSolar remains one of the largest solar module manufacturers globally, with significant production capabilities.

JinkoSolar (NYSE: JKS) reported strong unaudited financial results for Q3 2020, with total revenues of US$1.29 billion, up 17.2% YoY, and solar module shipments of 5,117 MW, a 53.8% YoY increase. Gross profit grew 8.2% YoY to US$220.2 million, although gross margin decreased to 17.0%. Despite raw material supply challenges and a net income of only US$1 million, the company anticipates 18.5-19 GW in total shipments for 2020 and an optimistic outlook for Q4 with expected revenues between US$1.31 billion and US$1.43 billion.

JinkoSolar (NYSE: JKS) has been awarded the highest AAA credit rating in the Chinese market by the China Association for Quality, marking a significant milestone in its quality management performance. This recognition highlights JinkoSolar's robust credit management and operational capabilities. With leading technologies and a commitment to research and development, the company has achieved global prominence, ranking first in PV module shipments for four consecutive years. JinkoSolar aims to continue enhancing product quality and supporting the global transition to renewable energy through innovation.

On November 27, 2020, JinkoSolar (NYSE: JKS) announced a share and debt purchase agreement where its subsidiary, JinkoSolar Sweihan (HK) Limited, will sell its 50% equity interest in Sweihan Solar Holding Company Limited to Jinko Power (HK). This divestiture allows Jinko HK to indirectly hold a 20% equity interest in the Sweihan PV Power Company, which operates a 1,200 MW photovoltaic power plant in Abu Dhabi. The deal is subject to approvals from Emirates Water and Electricity Company and other stakeholders, enabling JinkoSolar to focus on its core business and long-term growth in the solar industry.

JinkoSolar, a leading solar module manufacturer, announced it will release its unaudited financial results for Q3 2020 on December 7, 2020, before U.S. market opening. A conference call is scheduled for the same day at 7:30 a.m. ET. Participants can join by dialing the provided numbers, with a passcode of 27311972#. A replay will be available for two weeks following the call. JinkoSolar operates with a significant global footprint and a vertically integrated production capacity, emphasizing its position within the solar market.

JinkoSolar Holding Co., Ltd. (NYSE: JKS) announced its 2020 annual general meeting on December 29, 2020, at 10:00 a.m. Beijing time. Key agenda items include re-electing directors Yingqiu Liu and Wing Keong Siew, ratifying PricewaterhouseCoopers as auditors for the fiscal year, and reviewing the audited financial statements for 2019. Only shareholders of record by November 30, 2020, may vote. The 2019 Annual Report is available on the company’s website for those requesting a hard copy.

JinkoSolar (NYSE: JKS) announced the resignation of COO Zhiqun Xu and the appointment of Dr. Jiun-Hua Allen Guo as the new COO. Dr. Guo has been with JinkoSolar since 2012, previously serving as Vice President for Quality System and holding various leadership roles within the company. CEO Kangping Chen expressed confidence in Dr. Guo's experience to enhance JinkoSolar's strategic execution. JinkoSolar continues to be a leading solar module manufacturer, with a robust global presence and significant production capacity.

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.