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JinkoSolar Holding Co., Ltd. reports developments tied to its photovoltaic manufacturing business and its NYSE-listed American depositary shares. The company operates across the solar product value chain, with silicon wafers, solar cells and solar modules sold under the JinkoSolar brand, including Tiger Neo modules. Its updates also cover energy storage systems and integrated solar-plus-storage solutions for utility, commercial and residential customers across international markets.
Recurring news themes include quarterly and annual financial results, module shipment trends, overseas market demand, photovoltaic product pricing, technology updates involving N-type TOPCon and perovskite tandem solar cells, U.S. manufacturing and supply-chain activity, and disclosures from its majority-owned principal operating subsidiary, Jinko Solar Co., Ltd., also referred to as Jiangxi Jinko.
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), a leading solar module manufacturer, announced changes to its Board of Directors on August 20, 2024. Mr. Yingqiu Liu resigned as an independent director and ceased to be a member of the audit committee and the nominating and corporate governance committee. Mr. Gang Chu was appointed as an independent director and a member of both committees, effective immediately.
Mr. Chu brings extensive experience from his roles at China International Capital (CICC) and Citigroup. He holds a Ph.D. in theoretical physics and is a Chartered Financial Analyst. JinkoSolar's Chairman and CEO, Mr. Xiande Li, expressed gratitude to Mr. Liu and welcomed Mr. Chu, highlighting his valuable capital markets experience.
JinkoSolar Holding Co., (NYSE: JKS), a leading global solar module manufacturer, has announced its plans to release unaudited financial results for Q2 2024 on August 30, 2024, before U.S. markets open. The company will host an earnings conference call at 8:30 a.m. U.S. Eastern Time on the same day. Interested parties can pre-register for the call using the provided link. A telephone replay will be available until September 6, 2024. Additionally, a live and archived webcast of the conference call will be accessible on JinkoSolar's Investor Relations website.
JinkoSolar Holding Co., (NYSE: JKS), a leading solar module manufacturer, has announced a cash dividend of US$0.375 per ordinary share or US$1.50 per American Depositary Share (ADS). The dividend will be paid to shareholders of record as of August 15, 2024, with an expected payment date of August 30, 2024. The total distribution is estimated at US$79 million.
CEO Xiande Li stated that this dividend reflects the company's confidence in its business prospects and commitment to rewarding shareholders, despite ongoing challenges in the global PV market. This move demonstrates JinkoSolar's financial stability and positive outlook for the future.
JinkoSolar Holding Co., (NYSE: JKS) has announced a significant joint venture in Saudi Arabia to manufacture high-efficiency solar cells and modules. The company's subsidiary, JinkoSolar Middle East DMCC, will partner with Renewable Energy Localization Company (RELC) and Vision Industries Company (VI) to establish a manufacturing facility with an expected annual production capacity of 10 GW for both solar cells and modules.
The joint venture's ownership structure will be 40% JinkoSolar Middle East, 40% RELC, and 20% VI. With a total investment of approximately US$1 billion, the project aims to enhance JinkoSolar's global manufacturing capabilities and contribute to Saudi Arabia's Vision 2030 goals for sustainable energy development.
JinkoSolar Holding Co., (NYSE: JKS) has once again topped the PV Tech 2024 Q2 ModuleTech Bankability Report with an AAA rating. The company's consistent high ratings are attributed to its substantial module shipments and strong financial health. In Q1 2024, JinkoSolar's subsidiary reported total revenue of 23.083 billion RMB and net profit of 1.176 billion RMB.
JinkoSolar's focus on innovation has led to 26 record-breaking achievements in cell conversion efficiency and module power output. The company's N-type Tiger Neo series has gained global recognition, being delivered to over 4000 customers in more than 140 countries. JinkoSolar aims to continue enhancing its technological capabilities and product competitiveness to support the global energy transition.
JinkoSolar (NYSE: JKS) announced it has repurchased 4,503,178 ADSs, valued at approximately $110.7 million, under its share repurchase program initiated in July 2022 and extended in December 2023. The program will continue until June 30, 2025, with $89.3 million still available for repurchases. The buybacks will occur through various methods including open-market and privately negotiated transactions, adhering to market conditions and regulatory rules such as Rule 10b-18 and Rule 10b5-1 of the Securities Exchange Act of 1934.
On June 21, 2024, JinkoSolar announced a partnership with Kiefer to supply its large-scale battery storage system, SunTera, to Athens International Airport (AIA). This initiative will help AIA achieve Net Zero Carbon Emissions by 2025, making it the first airport worldwide to operate entirely on self-consumption. Frank Niendorf, General Manager Europe at JinkoSolar, expressed excitement over this pioneering project in Greece, aligning with both companies' commitment to sustainability. Christos Petrocheilos, General Manager at Kiefer, noted that the collaboration will significantly benefit their customers.
JinkoSolar Holding Co., (NYSE: JKS) announced on June 21, 2024, a partnership with kIEFER to supply its large scale battery storage, SunTera, to Athens International Airport (AIA). This initiative will support AIA's goal to achieve Net Zero Carbon Emissions by 2025. Upon completion, AIA will operate one of the largest self-consumption systems in any airport facility globally, making it the first international airport to achieve 100% self-consumption. Frank Niendorf, JinkoSolar's General Manager for Europe, emphasized the significance of this collaboration with kIEFER, highlighting the shared vision for sustainable energy and innovation.
JinkoSolar, a leading solar module manufacturer, announced its subsidiary, Jinko Solar Denmark, has supplied high voltage residential storage solutions to SolarToday for the DACH and Benelux regions from June 2024. Frank Niendorf, JinkoSolar's VP for Europe, highlighted the growing European distributed generation market, emphasizing the strategic partnership with SolarToday to foster growth in the PV and ESS markets. SolarToday's CEO, Tom Engbers, expressed pride in partnering with JinkoSolar, noting their technological leadership and joint ambitions in the solar energy market, focusing on PV generation, ESS storage, and EV usage.