JinkoSolar Provides Updates on Jinko Solar Co., Ltd.'s Proposed IPO in China

Rhea-AI Summary

JinkoSolar (NYSE: JKS) announced updates regarding the proposed initial public offering (IPO) of its subsidiary, Jiangxi Jinko, on China's STAR Market. The stock listing committee reviewed the application and confirmed that Jiangxi Jinko met all necessary requirements for the IPO. The next step involves a registration process with the China Securities Regulatory Commission. As of June 30, 2021, JinkoSolar boasts a strong vertically integrated capacity of 27 GW for mono wafers, 12 GW for solar cells, and 31 GW for solar modules, operating globally with 9 production facilities and 22 subsidiaries.

Positive

• Jiangxi Jinko received approval from the STAR Market stock listing committee, confirming compliance with offering and disclosure requirements.
• JinkoSolar's vertically integrated production capacity includes 27 GW for mono wafers, 12 GW for solar cells, and 31 GW for solar modules.

Negative

• None.

SHANGRAO, China, Sept. 30, 2021 /PRNewswire/ -- JinkoSolar Holding Co., Ltd. ("JinkoSolar" or the "Company") (NYSE: JKS), one of the largest and most innovative solar module manufacturers in the world, provided updates on the status of the proposed initial public offering ("STAR Market IPO") and listing of the shares of its principal operating subsidiary, Jinko Solar Co., Ltd. ("Jiangxi Jinko"), on the Shanghai Stock Exchange's Sci-Tech innovation board (the "STAR Market").

During the 75th review meeting of 2021, the stock listing committee of the STAR Market reviewed Jiangxi Jinko's application and considered that Jiangxi Jinko had met the offering, listing and disclosure requirements related to its proposed STAR Market IPO. As a next step, Jiangxi Jinko will need to go through the registration process with the China Securities Regulatory Commission before Jiangxi Jinko's STAR Market IPO can take place.

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 27 GW for mono wafers, 12 GW for solar cells, and 31 GW for solar modules, as of June 30, 2021.

JinkoSolar has 9 productions facilities globally, 22 overseas subsidiaries in Japan, South Korea, Vietnam, India, Turkey, Germany, Italy, Switzerland, United States, Mexico, Brazil, Chile, Australia, Portugal, Canada, Malaysia, UAE, Hong Kong and Denmark, and global sales teams in China, United Kingdom, France, Spain, Bulgaria, Greece, Ukraine, Jordan, Saudi Arabia, Tunisia, Morocco, South Africa, Costa Rica, Colombia, Panama, Kazakhstan, Malaysia, Myanmar, Sri Lanka, Thailand, Vietnam, Poland and Argentina, as of June 30, 2021.

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:
Ms. Stella Wang
JinkoSolar Holding Co., Ltd.
Tel: +86 21-5180-8777 ext.7806
Email: ir@jinkosolar.com

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

In the U.S.:
Ms. Linda Bergkamp
Christensen, Scottsdale, Arizona
Tel: +1-480-614-3004
Email: lbergkamp@ChristensenIR.com

View original content:https://www.prnewswire.com/news-releases/jinkosolar-provides-updates-on-jinko-solar-co-ltds-proposed-ipo-in-china-301388665.html

SOURCE JinkoSolar Holding Co., Ltd.

FAQ

What recent updates did JinkoSolar provide regarding its IPO plans for Jiangxi Jinko on the STAR Market?

JinkoSolar announced that its subsidiary, Jiangxi Jinko, met the listing requirements for its proposed IPO on China's STAR Market and will undergo a registration process with the China Securities Regulatory Commission.

When did JinkoSolar release its update about Jiangxi Jinko's IPO?

JinkoSolar released the update on September 30, 2021.

What is the stock symbol for JinkoSolar?

The stock symbol for JinkoSolar is JKS.

How much production capacity does JinkoSolar have for solar modules?

As of June 30, 2021, JinkoSolar has a production capacity of 31 GW for solar modules.

What does the STAR Market IPO mean for JinkoSolar's subsidiary?

The STAR Market IPO for Jiangxi Jinko signifies potential expansion and increased capital access for the subsidiary, enhancing its market presence.