JinkoSolar's Holding Subsidiary Announces Investment of RMB315 million in Inner Mongolia Xinte High-purity Polysilicon Production Project with Annual Capacity of 100,000 Tons
JinkoSolar (NYSE: JKS) announced a significant investment of RMB315 million in Inner Mongolia Xinte Silicon Materials Co., Ltd. This will support the construction of a high-purity polysilicon production line with an annual capacity of 100,000 tons. Upon completion, JinkoSolar will hold a 9.00% stake in Inner Mongolia Xinte. CEO Kangping Chen expressed confidence in this strategic move, emphasizing the partnership with Xinte Energy to enhance the stability of silicon material supply and reduce supply chain volatility in the growing photovoltaic industry.
- Investment of RMB315 million enhances capacity for high-purity polysilicon.
- Strategic partnership with Xinte Energy to stabilize silicon supply.
- Expected annual capacity of 100,000 tons supports growth in PV industry.
- None.
SHANGRAO, China, June 21, 2021 /PRNewswire/ -- JinkoSolar Holding Co., Ltd. (the "Company," or "JinkoSolar") (NYSE: JKS), one of the largest and most innovative solar module manufacturers in the world, today announced its holding subsidiary, Shangrao JinkoSolar Industry Development Co., Ltd. plans to invest RMB315 million of monetary capital to increase capital and shares in Inner Mongolia Xinte Silicon Materials Co., Ltd. ("Inner Mongolia Xinte"), a wholly-owned subsidiary of Xinte Energy Co., Ltd. ("Xinte Energy") (HKEX: 1799). The investment will be used for the construction of a high-purity polysilicon production line with an annual capacity of 100,000 tons. After the capital increase is completed, the Company will hold a
Mr. Kangping Chen, CEO of JinkoSolar Co., Ltd., commented, "Xinte Energy is a leader in polysilicon technology and industrialized operations. We are very pleased to extend this close partnership with them, and remain fully confident about the accelerated growth of the PV industry over the next few years. We believe that this investment is not only a solid growth strategy, but will help to stabilize silicon material supply and reduce supply chain volatility. By cooperating with upstream specialized manufacturers, we will continue to strengthen the advantages of our integrated capacity and solidify the foundation for mass production of high-efficiency modules year-over-year. We will continuously work towards win-win situations through deeper cooperation with our supply chain partners, and jointly promote the development of the global solar market and accelerate the transformation of green energy."
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 22 GW for mono wafers, 11 GW for solar cells, and 31 GW for solar modules, as of December 31, 2020.
JinkoSolar has 9 productions facilities globally, 23 overseas subsidiaries in Japan, South Korea, Vietnam, India, Turkey, Germany, Italy, Switzerland, United States, Mexico, Brazil, Chile, Australia, Portugal, Canada, Malaysia, UAE, Kenya, 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 December 31, 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:
Ms. Stella Wang
JinkoSolar Holding Co., Ltd.
Tel: +86 21-5180-8777 ext.7806
Email: pr@jinkosolar.com
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