JinkoSolar Announces Completion of At-The-Market Offering of ADSs

Rhea-AI Summary

JinkoSolar Holding Co., Ltd. (NYSE: JKS) announced the completion of its at-the-market offering, selling 1,494,068 American depositary shares (ADS) and raising US$98.25 million after expenses. The offering was part of a US$100 million program aimed at strengthening its financial position. JinkoSolar, a leading solar module manufacturer, maintains a robust global presence with production capabilities of 20 GW for mono wafers, 11 GW for solar cells, and 25 GW for solar modules as of September 2020.

Positive

• Raised US$98.25 million through the sale of 1,494,068 ADSs, enhancing liquidity.
• Successful completion of an offering that was part of a US$100 million program.

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• None.

SHANGRAO, China, Jan. 6, 2021 /PRNewswire/ -- JinkoSolar Holding Co., Ltd. (NYSE: JKS) (the "Company," or "JinkoSolar"), one of the largest and most innovative solar module manufacturers in the world, today announced that it has completed its previously announced at-the-market offering of up to US$100,000,000 of its American depositary shares ("ADS"), each representing four ordinary shares of the Company. The Company has sold 1,494,068 ADSs and received US$98.25 million after deducting commissions and offering expenses.

This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities, nor will there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.

About JinkoSolar Holding Co., Ltd.

JinkoSolar (NYSE: JKS) is one of the largest and most innovative solar module manufacturers in the world. JinkoSolar distributes its solar products and sells its solutions and services to a diversified international utility, commercial and residential customer base in China, the United States, Japan, Germany, the United Kingdom, Chile, South Africa, India, Mexico, Brazil, the United Arab Emirates, Italy, Spain, France, Belgium, and other countries and regions. JinkoSolar has built a vertically integrated solar product value chain, with an integrated annual capacity of 20 GW for mono wafers, 11 GW for solar cells, and 25 GW for solar modules, as of September 30, 2020.

JinkoSolar has 9 productions facilities globally, 21 overseas subsidiaries in Japan, South Korea, Vietnam, India, Turkey, Germany, Italy, Switzerland, United States, Mexico, Brazil, Chile, Australia, Portugal, Canada, Malaysia, UAE, Kenya, Hong Kong, Denmark, and global sales teams in China, United Kingdom, France, Spain, Bulgaria, Greece, Ukraine, Jordan, Saudi Arabia, Tunisia, Morocco, Kenya, South Africa, Costa Rica, Colombia, Panama, Kazakhstan, Malaysia, Myanmar, Sri Lanka, Thailand, Vietnam, Poland and Argentina, as of September 30, 2020.

To find out more, please see: www.jinkosolar.com.

Safe Harbor Statement

This press release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Among other things, the quotations from management in this press release and the Company's operations and business outlook, contain forward-looking statements. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Further information regarding these and other risks is included in JinkoSolar's filings with the U.S. Securities and Exchange Commission, including its annual report on Form 20-F. Except as required by law, the Company does not undertake any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.

For investor and media inquiries, please contact:

In China:

Ripple Zhang
JinkoSolar Holding Co., Ltd.
Tel: +86 21-5183-3105
Email: ir@jinkosolar.com

Rene Vanguestaine
Christensen
Tel: + 86 178 1749 0483
Email: rvanguestaine@ChristensenIR.com 

In the U.S.:

Ms. Linda Bergkamp Christensen
Tel: +1-480-614-3004
Email: lbergkamp@ChristensenIR.com

View original content:http://www.prnewswire.com/news-releases/jinkosolar-announces-completion-of-at-the-market-offering-of-adss-301201987.html

SOURCE JinkoSolar Holding Co., Ltd.

FAQ

What was JinkoSolar's recent financial announcement?

JinkoSolar announced it raised US$98.25 million by completing its at-the-market offering of ADSs.

How many American depositary shares did JinkoSolar sell?

JinkoSolar sold 1,494,068 American depositary shares in the recent offering.

What is JinkoSolar's stock symbol?

JinkoSolar's stock symbol is NYSE: JKS.

What was the purpose of JinkoSolar's recent offering?

The offering aimed to strengthen JinkoSolar's financial position as part of a larger US$100 million program.