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JinkoSolar Plans to Separate Its Solar PV Project Business SHANGHAI,?Jan. 13, 2014?/PRNewswire-FirstCall/ --?JinkoSolar Holding Co., Ltd.?("JinkoSolar" or the "Company") (NYSE: JKS), a global leader in the solar PV industry, today announced that its Board of Directors has authorized the exploration of strategic alternatives with respect to?JinkoSolar's?downstream solar PV project business. The Board intends to consider a broad range of alternatives including, but not limited to, an IPO, pre-IPO financing or merger and acquisition of the business. "We believe that the separation will support the sustainable growth of our downstream PV project business, and the Board of Directors and management team are always committed to further enhancing value for all?JinkoSolar?shareholders," said Mr.? Xiande Li , Chairman of?JinkoSolar. "Given that our downstream PV project business is expected to exceed 500MW of installed capacity by the end of 2014 and with the clear commitment of the Chinese government to renewable energy, solar energy in particular, and a growing market, we believe now is an appropriate time to prudently explore strategic alternatives for this business."?JinkoSolar?management, together with its financial and legal advisers, will explore strategic alternatives, including the exploration of the separation of its solar PV projects business into a separate company through a spin-off or other transactions that will benefit the Company's shareholders.?The Company would like to note that there can be no assurance that the Board of Directors' authorization above will result in any transaction, or that any transaction, if pursued, will be consummated.?
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 17.5 GW for mono wafers, 10.6 GW for solar cells, and 16 GW for solar modules, as of March 31, 2020.
JinkoSolar has over 15,000 employees across its 7 productions facilities globally, 14 overseas subsidiaries in Japan(2), South Korea, Vietnam, India, Turkey, Germany, Italy, Switzerland, United States, Mexico, Brazil, Chile and Australia, 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.
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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. Ripple Zhang
JinkoSolar Holding Co., Ltd.
Tel: +86 21-5183-3105
Email: pr@lwggcj.com
