On January 17, JinkoSolar announced that its controlling subsidiary, JinkoSolar (Haining) Co., Ltd. (hereinafter referred to as “JinkoSolar Haining”), plans to implement a capital increase and share expansion, with the introduction of strategic investors including Industrial Bank Asset Management and China Orient Asset Management, among others.
According to the proposal, all parties intend to jointly inject no more than RMB 3.0 billion in cash. Following the capital increase, the investors are expected to collectively acquire no more than 24.6771% of JinkoSolar Haining’s equity. JinkoSolar has explicitly stated that it will waive its pre-emptive subscription rights in this capital increase.
The proceeds from the capital increase will be primarily used by JinkoSolar Haining to repay financial liabilities or operating liabilities. The transaction includes market-oriented debt-to-equity investment arrangements and is intended to optimize the target company’s asset structure, reduce its asset-liability ratio, and strengthen its capital base.
Upon completion of the transaction, JinkoSolar’s direct and indirect shareholding in JinkoSolar Haining will remain no less than 68.9419%. JinkoSolar Haining will continue to be consolidated into the listed company’s financial statements.
With respect to the specific investor arrangements, Industrial Bank Asset Management plans to contribute RMB 1.0 billion, subscribing for no more than 8.2257% of JinkoSolar Haining’s equity after the capital increase. China Orient Asset Management and other strategic investors plan to contribute no more than RMB 2.0 billion in total, subscribing for no more than 16.4514% of the equity.
Financial data show that JinkoSolar Haining has a substantial asset base. As of September 30, 2025, its total assets amounted to approximately RMB 20.537 billion. During the first three quarters of 2025, the company recorded operating revenue of RMB 16.76 billion and net profit of RMB 29 million.
At present, the company has entered into a conditional Capital Increase Agreement with Industrial Bank Asset Management. Internal investment approvals and agreement execution processes for China Orient Asset Management and other investment institutions are still ongoing, and the full list of strategic investors has yet to be finalized.
Source：EnergyTrend