Jiangxi Jinko Announces Preliminary Financials for 2021 Year-to-Date

JinkoSolar Holding Company’s subsidiarity Jiangxi Jinko (Jinko Solar Co Ltd) is heading for estimated Q1 to Q3 revenue between RMB23.6 billion, and RMB23.8 billion as of September 24, 2021.

These values convert to US$3.6 billion and US$3.75 billion respectively, at a conversion rate of 10:1.55. The company calculated the amounts in accordance with generally acceptable accounting principles (GAAP) of the People's Republic of China.

Jiangxi Jinko to List on Shanghai Stock Exchange

JinkoSolar Holding Company Ltd

released the information in terms of its intention to apply for an initial public offering (IPO) for Jiangxi Jinko, as required by Shanghai Stock Exchange. This will allocate between 10% and 25% of its total share capital, and qualify it to list on the Shanghai exchange.

Attributable Net Income to Jiangxi Jinko Shareholders

The estimated net attributable value of the turnover to Jiangxi Jinko shareholders -excluding infrequent and unusual economic events - will likely equate to between RMB230 million and RMB260 million, according to holding company JinkoSolar Holding Company Ltd.

Those values convert to between US$35.5 million and US$45.5 million respectively, at a conversion rate of 10:1.55. Three quarters of this value goes to the holding company in terms of its estimated equity interest of 73.28%.

Variance from JinkoSolar Holding Company Consolidated Results

The JinkoSolar Holding Company Ltd announcement identifies, and explains a variance between two sets of financials in terms of consolidation scope as follows:

• The Jiangxi Jinko results only apply to that entity’s financial performance.
• Whereas the holding company’s include Jiangxi Jinko and other subsidiaries.
• The Jiangxi Jinko estimates are in accordance People's Republic of China GAAP.
• Whereas the holding company’s meet United States accounting principles.

Financial Results Based on Information Available

The Jiangxi Jinko estimates are provisional, and for the purpose of the initial public offering on Shanghai Stock Exchange. They are therefore subject to change according to holding company JinkoSolar.

Those variances could be material, are therefore subject to change following actual financial closing and reporting. The holding company advises against using the information for future projections. Investors must exercise due caution, and not base decisions solely on the information.

 About Jiangxi Jinko (Jinko Solar Co Ltd)

Jiangxi Jinko is a global leader in solar module manufacture, in terms of scale and innovation. It supplies solar products and services in the United States, People's Republic of China, United Kingdom, Belgium, France, Germany, Spain, Italy, United Arab Emirates, India, Japan, Brazil, Chile, Mexico, South Africa, and other countries and regions.

The holding company was established in 2006 in Shanghai. It is geographically well-positioned to deliver into China’s solar power market, which is the world’s largest for solar thermal energy and photovoltaics.

The company’s integrated solar product value chain has annual capacity of 12, 27, and 31 gigawatts respectively for solar cells, mono wafers, and solar modules. It has nine global production facilities, and maintains 22 overseas subsidiaries in most regions.