JinkoSolar's Subsidiary Jinko Solar Co., Ltd. Proposes 2021 Cash Dividend Plan to Its Annual Shareholders' Meeting For Approval

Rhea-AI Summary

JinkoSolar Holding Co., Ltd. (NYSE: JKS) announced a proposed cash dividend plan for 2021 through its subsidiary, Jiangxi Jinko, with a total dividend amount of approximately RMB230 million, representing 20.15% of the subsidiary's net income of RMB1,141.4 million. This proposal will be submitted to the annual shareholders' meeting for approval. JinkoSolar holds around 58.62% equity interest in Jiangxi Jinko, emphasizing the company's commitment to rewarding its shareholders.

Positive

• Proposed cash dividend of RMB230 million aligns with 20.15% of net income, signaling strong financial performance.
• JinkoSolar's significant equity interest (58.62%) in Jiangxi Jinko supports shareholder value.

Negative

• None.

SHANGRAO, China, April 22, 2022 /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 on April 22, 2022, its subsidiary Jinko Solar Co., Ltd. ("Jiangxi Jinko")'s board of directors approved its cash dividend plan for 2021 and proposed this plan to Jiangxi Jinko's annual shareholders' meeting for approval.

For 2021, the net income attributable to Jiangxi Jinko's shareholders was approximately RMB1,141.4 million. Jiangxi Jinko's board of directors has approved the plan to pay cash dividend to Jiangxi Jinko's shareholders in an aggregate amount of approximately RMB230.0 million, which accounts for 20.15% of the net income attributable to Jiangxi Jinko's shareholders in 2021. This plan still needs to be submitted to Jiangxi Jinko's annual shareholders' meeting for approval.

JinkoSolar currently owns approximately 58.62% equity interest in Jiangxi Jinko.

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 32.5 GW for mono wafers, 24 GW for solar cells, and 45 GW for solar modules, as of December 31, 2021.

JinkoSolar has 12 productions facilities globally, 21 overseas subsidiaries in Japan, South Korea, Vietnam, India, Turkey, Germany, Italy, Switzerland, the United States, Mexico, Brazil, Chile, Australia, Canada, Malaysia, UAE and Denmark, and global sales teams in China, the United States, Canada, Germany, Switzerland, Italy, Japan, Australia, Korea, India, Turkey, Chile, Brazil, Mexico and Hong Kong, as of December 31, 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

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SOURCE JinkoSolar Holding Co., Ltd.

FAQ

What is the proposed cash dividend amount for JinkoSolar's subsidiary Jiangxi Jinko in 2021?

The proposed cash dividend amount is approximately RMB230 million.

What percentage of net income does the dividend represent for Jiangxi Jinko?

The dividend represents 20.15% of Jiangxi Jinko's net income.

When is the cash dividend proposal expected to be approved?

The proposal will be submitted for approval at Jiangxi Jinko's annual shareholders' meeting.

What is JinkoSolar's ownership percentage in Jiangxi Jinko?

JinkoSolar owns approximately 58.62% equity interest in Jiangxi Jinko.

How much was the net income of Jiangxi Jinko for 2021?

The net income attributable to Jiangxi Jinko's shareholders was approximately RMB1,141.4 million.