JinkoSolar To Sign A Strategic Partnership Agreement With Tongwei For Project Investment And Industrial Chain Cooperation

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JinkoSolar Holding Co., Ltd. (“JinkoSolar” or the “Company”) (NYSE:JKS), one of the largest and most innovative solar module manufacturers in the world, today announced that the Company intends to sign a “strategic cooperation agreement” with Tongwei Co., Ltd. (“Tongwei”) – to jointly invest in a high-purity crystalline silicon project with annual capacity of 45,000 metric tons and a silicon wafer project with an annual production capacity of 15GW, as well as develop a more extensive industrial chain cooperation.

According to the agreement, JinkoSolar will own a 35% equity stake in the 45,000
tons high-purity crystalline silicon project, while Tongwei will hold a 30% equity stake
in the 15GW silicon wafer project. Under the industrial chain cooperation, the
production capacity and products of the joint venture for the high-purity crystalline
silicon will be given priority to meet the production needs of the joint venture silicon
wafer company. Wafer products produced under the jointly invested silicon wafer
project will be cost effective and price competitive. In addition, based on the previous
procurement contract for 93,000 metric tons of polycrystalline silicon, JinkoSolar will
supply Tongwei with a total of approximately 6.5GW of silicon wafer products for
three years.

Mr. Kangping Chen, Chief Executive Officer of JinkoSolar, commented, “As a leading
global high-purity crystalline silicon and solar cell company, Tongwei has always
been an important strategic partner of JinkoSolar. Our Company has a vertically
integrated production capacity with cumulative module shipments exceeding 70GW
by the end of 2020. This strategic cooperation will benefit two companies from
different segments of the solar industrial chain and strengthen resource sharing and
integration within the PV industry, as well as increase industry leadership and
dominance of both parties, and jointly create a win-win manufacturing ecosystem.”

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