Stock Market

JinkoSolar Continues Strategic Buyback of Shares, Boosting Shareholder Value Amidst Expansion

SHANGRAO, China, March 29, 2024 - JinkoSolar Holding Co., Ltd. ("JinkoSolar" or the "Company"), a globally recognized leader in solar module manufacturing, announced a significant buyback of its shares. The company, traded under the ticker symbol JKS on the New York Stock Exchange, has repurchased 788,178 American depositary shares (ADSs) since March 20, 2024. This recent acquisition is part of an ongoing share repurchase program and involves an aggregate expenditure of approximately US$18.4 million.

Extended Share Buyback Program Demonstrates Financial Confidence

The company initially announced its share repurchase program in July 2022, which has evolved with an extension on December 20, 2023. This strategic extension allows JinkoSolar to continue its buyback initiative for an additional 18-month period through June 30, 2025. To date, JinkoSolar has cumulatively repurchased a total of 1,753,178 ADSs, translating to an aggregate amount of roughly US$46.8 million under its share repurchase programs.

JinkoSolar is yet to fully utilize the program's resources; approximately US$153.2 million worth of the company's ordinary shares, represented by ADSs, remain available for repurchase under the extended initiative.

Market-Driven Share Repurchase Strategy

The company's approach to repurchasing its ADSs is versatile - considering open-market transactions, privately negotiated deals, block trades, and other legally permissible methods - all subject to market conditions. JinkoSolar is aligning the timing and volume of the share repurchases with regulatory requirements, including those under Rule 10b-18 and Rule 10b5-1 of the Securities Exchange Act of 1934, alongside the company's insider trading policy.

Global Footprint of a Solar Powerhouse

JinkoSolar is an esteemed name in the world of solar energy, supplying solar products and offering services to a diverse and international client base. With customers ranging from the utility sector to the residential, the company's reach spans continents including China, the United States, Japan, and numerous European nations along with emerging markets across South America, the Middle East, Africa, and Australia.

With a sprawling line-up of 14 production facilities worldwide and 26 overseas subsidiaries, JinkoSolar's operational reach is impressively global. Subsidiaries are strategically located in regions of market significance such as Japan, South Korea, Vietnam, India, Turkey, Germany, Italy, Switzerland, the United States, Mexico, Brazil, and Chile, among others. Furthermore, JinkoSolar employs dynamic sales teams across these global hotspots to lead the expanding solar market.

As of December 31, 2023, the expansionist approach of the company is further signified by its extensive networking, featuring country-specific teams in pivotal markets such as China, the United States, Canada, and India. This global reach not only amplifies JinkoSolar’s influence within the industry but also showcases its commitment to facilitating worldwide access to sustainable solar power solutions.

For more in-depth information on JinkoSolar and its services, interested parties are encouraged to visit their official website at www.jinkosolar.com.

Forward-Looking Statements: Indicators of Future Prospects

In a forward-looking statement released by the company, anticipation builds around JinkoSolar's operations and business outlook. These projections are an indication of the Company's planned trajectory and are marked by terms like "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," and other similarly optimistic expressions.

While infused with potential and promise, these forward-looking statements are not free from the inherent uncertainties that accompany business operations. The actual outcomes may diverge from these projections due to various unpredictable factors. JinkoSolar remains steadfast in its efforts to keep shareholders informed by reporting any significant changes that may arise.

Securing a Stable Future for Investors and the Environment

As these forward-looking statements adhere to the formal guidelines of the Securities Act of 1933, as well as the Securities Exchange Act of 1934, and are in line with the U.S. Private Securities Litigation Reform Act of 1995, investors are provided a discernible pathway to the company's expectations for its future performance.

Potential risks that could alter JinkoSolar's path to success are detailed in filings with the U.S. Securities and Exchange Commission. Their annual report on Form 20-F encapsulates these risk factors, providing transparency and comprehensive insight into the possible challenges ahead.

Maintaining Transparent and Open Communications

Committed to open discourse with investors and the media, JinkoSolar has designated key representatives for inquiries. In China, Ms. Stella Wang is available for contact. For those located in the United States, Ms. Linda Bergkamp from Christensen in Scottsdale, Arizona, can be reached for further information or queries.

Further fostering accessibility for global investors and media professionals, JinkoSolar also presents direct communication channels for stakeholders in the United States. Inquiries can be addressed to Ms. Linda Bergkamp in Scottsdale, Arizona, ensuring that information flow remains seamless and comprehensive.

This proactive communication strategy not only underscores JinkoSolar’s dedication to shareholder engagement but also solidifies its reputation as a transparent and responsive entity in the renewable energy sector.

JinkoSolar Holding Co., Ltd. remains a pivotal force in the solar energy sector, steering the industry towards a future defined by innovation, sustainability, and a robust market presence. Its extended share repurchase program reflects a strategic endeavor to enhance shareholder value while cementing the company’s status as a global leader.

Backed by a comprehensive production footprint and a network of subsidiaries and sales teams, JinkoSolar's influence spans the globe. The company caters to a myriad of markets, advocating for the adoption of sustainable energy through its high-quality solar modules and services. With an astute eye on its operational goals and growth strategies, JinkoSolar's vision for a greener future shines as bright as the sun itself.

In Conclusion: The Power Behind the Panels

JinkoSolar Holding Co., Ltd. has made a bold statement with its continued share repurchases—a testament to its financial health and optimistic outlook. The company's strategic decision reflects both a practical approach to capital management and confidence in its own growth trajectory.

Such endeavors are not only essential for the company's market performance but also for the signal it sends to the wider industrial landscape, emphasizing the solidity of investment in renewable resources. As JinkoSolar carves its path in the competitive solar market, it also lays the groundwork for a sustainable future—one where economic prowess aligns with environmental responsibility.

The company's reshaped vision for share repurchase reflects its adaptable business operations and its resilience in facing market fluctuations. While charting their corporate course with care, JinkoSolar concurrently demonstrates an unwavering commitment to investing back into the enterprise for long-term prosperity.

Overall, JinkoSolar's buyback announcement is not just about the numbers—it's a story of a company firmly believing in the value it creates and the industry it leads. Through foresight, innovation, and strategic financial management, JinkoSolar is set to remain a stalwart in the burgeoning sphere of renewable energy, dispelling darkness with the dawn of a brighter, solar-powered tomorrow.

For those who wish to follow JinkoSolar's journey or seek engagement, the relevant investor and media contacts are provided by the company—a reflection of their commitment to accessibility and transparency.

In a world increasingly reliant on sustainable energy sources, JinkoSolar's initiatives, both industrial and financial, embody the progressive steps necessary to pioneer the energy revolution. Their continued focus on maximizing shareholder value, while expanding their market footprint, is indicative of a company not only powering homes and businesses but also empowering global change.

Press contact details and further information on the company's projections, risks, and operational outlook can be found within the corporate disclosures and forward-looking statements, accessible through JinkoSolar's official communications and filings with regulatory bodies.

The narrative spun by JinkoSolar resonates with a commitment to long-term value, strategic expansion, and the harnessing of solar energy to fuel not only electrical grids but also the investment portfolios of its shareholders. As solar technology continues its ascent as a front-runner in renewable energy, JinkoSolar is geared to lead the charge, making significant impacts both on the stock market and in the global effort to combat climate change.

JinkoSolar stands as a beacon of innovation and economic tenacity, and with its latest financial maneuvers, it reaffirms its position as a titan of industry and a harbinger of a brighter, greener future, globally revered and locally engaged.

SOURCE: JinkoSolar Holding Co., Ltd. is proud to be at the forefront of the solar industry, providing updates and maintaining open lines of communication for all stakeholders involved in the renewable energy narrative.

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