SHANGRAO, China, Sept. 24, 2021 /PRNewswire/ -- JinkoSolar Holding
Co., Ltd. ("JinkoSolar" or the "Company") (NYSE: JKS), one of the
largest and most innovative solar module manufacturers in the
world, is in the process of applying for an initial public offering
("IPO") of its principal operating subsidiary, Jinko Solar Co.,
Ltd. ("Jiangxi Jinko"), on the Shanghai Stock Exchange's Sci-Tech
innovation board.
As part of its IPO process, Jiangxi Jinko is requested by the
Shanghai Stock Exchange to publicly disclose the estimates of its
revenues and net income as prepared in accordance with the
Accounting Standards for Business Enterprises ("PRC GAAP") for the
nine months ending September 30, 2021
in its application materials submitted to the Shanghai Stock
Exchange as follows:
For the nine months ending September 30,
2021, (i) the estimated revenues of Jiangxi Jinko under PRC
GAAP are expected to be between RMB23.6
billion and RMB23.8 billion,
(ii) the estimated net income attributable to the shareholders of
Jiangxi Jinko is expected to be between RMB625 million and RMB655
million, and (iii) the estimated net income attributable to
the shareholders of Jiangxi Jinko excluding extraordinary gains and
losses is expected to be between RMB230
million and RMB260
million.
JinkoSolar currently owns approximately 73.28% equity interest
in Jiangxi Jinko. The financial estimates of Jiangxi Jinko for the
nine months ending September 30, 2021
described in this press release (the "Jiangxi Jinko Financial
Estimates") are different from JinkoSolar's consolidated financial
results (the "Consolidated Financials"), mainly because (i) the
consolidation scope of the Jiangxi Jinko Financial Estimates
differs from that of the Consolidated Financials: the Jiangxi Jinko
Financial Estimates are prepared solely for Jiangxi Jinko, whereas
the Consolidated Financials also include financial statements of
JinkoSolar and its other subsidiaries, and (ii) the Jiangxi Jinko
Financial Estimates and the Consolidated Financials are prepared
according to different accounting standards and principles: the
Jiangxi Jinko Financial Estimates are prepared in accordance with
PRC GAAP, whereas the Consolidated Financials are prepared in
accordance with accounting principles generally accepted in
the United States of America.
The Jiangxi Jinko Financial Estimates described in this press
release are based solely on the information currently available to
Jiangxi Jinko's management, and are subject to change upon the
completion of its internal financial closing and reporting process.
Jiangxi Jinko's actual financial results could vary materially from
these preliminary estimates. These preliminary revenue and net
income estimates should not be viewed as a substitute for full
financial statements of Jiangxi Jinko prepared in accordance with
PRC GAAP. In addition, these preliminary estimates are not
necessarily indicative of the results to be achieved by Jiangxi
Jinko in any future period. As such, investors of JinkoSolar should
exercise caution when reviewing the Jiangxi Jinko Financial
Estimates described in this press release and are advised not to
base their investment decisions solely on such financial
estimates.
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 27 GW for mono wafers,
12 GW for solar cells, and 31 GW for solar modules, as of
June 30, 2021.
JinkoSolar has 9 productions facilities globally, 22 overseas
subsidiaries in Japan,
South Korea, Vietnam, India, Turkey, Germany, Italy, Switzerland, United
States, Mexico,
Brazil, Chile, Australia, Portugal, Canada, Malaysia, UAE, Hong
Kong and Denmark, and
global sales teams in China,
United Kingdom, France, Spain, Bulgaria, Greece, Ukraine, Jordan, Saudi
Arabia, Tunisia,
Morocco, South Africa, Costa
Rica, Colombia,
Panama, Kazakhstan, Malaysia, Myanmar, Sri
Lanka, Thailand,
Vietnam, Poland and Argentina, as of June
30, 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.