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.
JinkoSolar is a global leader in the solar PV industry with production operations in Jiangxi and Zhejiang Provinces in China and sales and marketing offices in Shanghai and Beijing, China; Munich, Germany; Bologna, Italy; Zug, Switzerland; San Francisco, the United States; Queensland, Australia; Ontario, Canada; Singapore; Tokyo, Japan; and Cape Town, South Africa.
JinkoSolar has built a vertically integrated solar product value chain, with an integrated annual capacity of approximately 1.5 GW each for silicon ingots, wafers and solar cells and approximately 2.0 GW for solar modules, as of December 31, 2013. JinkoSolar sells electricity in China and distributes its solar products to a diversified customer base in the global PV market, including Germany, Italy, Belgium, Spain, the United States, Eastern Europe, China, India, Japan, South Africa, and other countries and regions. To find out more, please see: www.jinkosolar.com