JinkoSolar Holding Co., Ltd., has announced that its majority-owned subsidiary, Jiangxi Jinko Solar Co., Ltd., has entered into an equity transfer agreement with Ziyang Major Industry Equity Investment Fund Partnership and Mr. Shihong Dong. According to the agreement, Jiangxi Jinko will sell its entire 100% equity interest in Xinjiang Jinko Solar Co., Ltd., a wholly-owned subsidiary, for a total consideration of RMB 4.3 billion.
Upon completion of the transaction, Jiangxi Jinko will no longer hold any equity interest in Xinjiang Jinko. The agreement was negotiated under fair and normal commercial terms. The sale is expected to enhance Jiangxi Jinko’s operational efficiency, reduce costs, and optimize its facility mix.
JinkoSolar currently holds approximately 58.62% equity interest in Jiangxi Jinko. The sale of Xinjiang Jinko is subject to customary closing conditions, including obtaining the necessary antitrust regulatory approval and payment of the agreed consideration.
This strategic move reflects JinkoSolar’s focus on streamlining its operations and optimizing its business portfolio. By divesting its equity interest in Xinjiang Jinko, the company aims to improve its production efficiency and overall operational performance. The decision aligns with JinkoSolar’s long-term growth strategy and commitment to delivering value to its stakeholders.
