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JinkoSolar Holding Co., Ltd. reported senior management changes at its majority-owned operating subsidiary, Jinko Solar Co., Ltd. (Jiangxi Jinko). Mr. Kangping Chen resigned as Chief Executive Officer of Jiangxi Jinko but will remain on its board, serve on the strategy and sustainability committee, and is expected to become deputy chairman following shareholder approval at an extraordinary shareholder meeting.
The board appointed Mr. Haiyun (Charlie) Cao as the new Chief Executive Officer of Jiangxi Jinko, effective March 16, 2026. On the same date, Mr. Rui Jiang became deputy General Manager and Mr. Chen Chang became the Person in charge of Finance of Jiangxi Jinko. JinkoSolar continues to hold approximately 54.17% of Jiangxi Jinko’s equity interest, and the board of directors and officers of the listed parent company remain unchanged.
JinkoSolar Holding Co. reported that its majority-owned subsidiary Jinko Solar Co., Ltd. (Jiangxi Jinko) posted sharply weaker preliminary unaudited results for full year 2025 under PRC GAAP. Revenue was RMB65.49 billion, down 29.18% from 2024, as selling prices for photovoltaic products fell.
Jiangxi Jinko swung to a large net loss attributable to shareholders of RMB6.79 billion, compared with a net profit of RMB98.9 million in 2024. Excluding non-recurring gains and losses, net loss attributable to shareholders was RMB7.64 billion. Weighted average return on equity dropped to -23.49%, and basic loss per share was RMB0.68 versus earnings per share of RMB0.01 a year earlier.
Total assets were RMB119.16 billion and total equity attributable to the parent company was RMB25.46 billion as of December 31, 2025, both slightly lower than year-end 2024. The company emphasized these figures are preliminary, unaudited, and differ from JinkoSolar’s consolidated U.S. GAAP financials.
JinkoSolar Holding Co., Ltd. filed a Form 6-K to share estimated preliminary unaudited results from its majority-owned operating subsidiary, Jinko Solar Co., Ltd. (Jiangxi Jinko), for the full year ended December 31, 2025. Jiangxi Jinko expects a preliminary unaudited net loss attributable to its shareholders between RMB5,900 million and RMB6,900 million.
Excluding extraordinary gains and losses, Jiangxi Jinko estimates a larger preliminary unaudited net loss in the range of RMB6,700 million to RMB7,800 million, indicating that one-off items partly offset operating losses. These figures are prepared under PRC GAAP and differ from JinkoSolar’s consolidated results, which use U.S. GAAP and also include other subsidiaries. JinkoSolar, which currently owns about 55.59% of Jiangxi Jinko, cautions investors not to base decisions solely on these subsidiary-level estimates.
A holder of JKS American Depositary Receipts filed a Rule 144 notice for a planned sale of 200,000 ADRs through UBS Financial Services Inc. The securities have an aggregate market value of $5,800,000, with an approximate sale date of 12/18/2025 on the NYSE.
The ADRs were originally acquired on 02/14/2022 in an ESOP 2022 transaction from HY Vision Cloud Holdings Limited for cash. By signing the notice, the seller represents that they do not know any material adverse information about the issuer's current or prospective operations that has not been publicly disclosed.
JinkoSolar Holding Co., Ltd. has filed a Form 144 related to a proposed sale of restricted or control securities. The notice covers 10,000 ADS (each representing four ordinary shares) with an aggregate market value of $300,000, to be sold through The Core Securities Company Limited on the NYSE, with an approximate sale date of 11/20/2025. The ADS were acquired on 01/05/2023 via an ESOP award that vested as restricted stock units. The issuer reports 52,357,338 shares outstanding, providing context for the size of the proposed sale.