JinkoSolar divests entire stake in Xinjiang
JinkoSolar, through its subsidiary Jiangxi Jinko Solar Co., Ltd., has reached an agreement to divest its entire 100% equity stake in Xinjiang Jinko Solar Co., Ltd. The sale, valued at CNY4.3 billion (US$609 million), involves the acquisition of the stake by Ziyang Major Industry Equity Investment Fund Partnership and Shihong Dong. Upon the completion of the transaction, Jiangxi Jinko will no longer possess any equity interest in Xinjiang Jinko.
The terms of the agreement were negotiated based on standard commercial conditions and are anticipated to result in reduced operational costs, improved production efficiency, and enhanced utilization of facilities for Jiangxi Jinko. The sale is subject to customary closing conditions, including regulatory approval and payment.
Presently, JinkoSolar holds a majority equity interest of approximately 58.62% in Jiangxi Jinko.
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