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JinkoSolar Holding Co., Ltd. (NYSE: JKS) drives global solar innovation through vertically integrated manufacturing and advanced N-type TOPCon technology. This page consolidates official announcements and market-moving developments for stakeholders tracking renewable energy sector leadership.
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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.
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.
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