JinkoSolar Repurchased 4,503,178 ADSs under Its Share Repurchase Program

Rhea-AI Summary

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.

Positive

• Repurchased 4,503,178 ADSs valued at $110.7 million.
• Extended share repurchase program until June 30, 2025.
• Remaining $89.3 million available for future buybacks.

Negative

• None.

SHANGRAO, China, June 27, 2024 /PRNewswire/ -- JinkoSolar Holding Co., Ltd. ("JinkoSolar" or the "Company") (NYSE: JKS), one of the largest and most innovative solar module manufacturers in the world, today announced that as of the date of this press release, the Company has repurchased a total of 4,503,178 ADSs in an aggregate amount of approximately US$110.7 million in the open market under its share repurchase program announced in July 2022 and the extended share repurchase program announced in December 2023.

On December 20, 2023, the Company extended its share repurchase program announced on July 6, 2022 for an additional 18-month period through June 30, 2025. As of the date of this press release, approximately US$89.3 million of the Company's ordinary shares represented by the ADSs under the extended share repurchase program had not been utilized.

The Company may continue to repurchase its ADSs through open-market transactions, privately negotiated transactions or block trades, and/or other legally permissible means, depending on market conditions and in accordance with the applicable rules and regulations. The timing and conditions of the share repurchases will be subject to various factors including the requirements under Rule 10b-18 and Rule 10b5-1 of the Securities Exchange Act of 1934, as well as the Company's insider trading policy.

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 utility-scale, commercial and residential customers in China, the United States, Japan, Germany, the United Kingdom, Chile, South Africa, India, Mexico, Brazil, the United Arab Emirates, Italy, Spain, France, Belgium, Netherlands, Poland, Austria, Switzerland, Greece and other countries and regions.

JinkoSolar had 14 productions facilities globally, 26 overseas subsidiaries in Japan, South Korea, Vietnam, India, Turkey, Germany, Italy, Switzerland, the United States, Mexico, Brazil, Chile, Australia, Canada, Malaysia, the United Arab Emirates, Denmark, Indonesia, Nigeria and Saudi Arabia, and a global sales network with sales teams in China, the United States, Canada, Brazil, Chile, Mexico, Italy, Germany, Turkey, Spain, Japan, the United Arab Emirates, Netherlands, Vietnam and India, as of March 31, 2024.

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 the Company'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: rene.vanguestaine@christensencomms.com

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

View original content:https://www.prnewswire.com/news-releases/jinkosolar-repurchased-4-503-178-adss-under-its-share-repurchase-program-302184368.html

SOURCE JinkoSolar Holding Co., Ltd.

FAQ

How many ADSs did JinkoSolar repurchase under its share repurchase program?

JinkoSolar repurchased 4,503,178 ADSs under its share repurchase program.

What is the total value of JinkoSolar's repurchased ADSs?

The total value of JinkoSolar's repurchased ADSs is approximately $110.7 million.

When was JinkoSolar's share repurchase program extended?

JinkoSolar's share repurchase program was extended in December 2023.

Until when is JinkoSolar's share repurchase program extended?

JinkoSolar's share repurchase program is extended until June 30, 2025.

How much is still available for future buybacks under JinkoSolar's repurchase program?

Approximately $89.3 million is still available for future buybacks under JinkoSolar's repurchase program.