According to EnergyTrend, on July 22, Jinko Solar issued an announcement disclosing the progress of the capital increase and share expansion project for its holding subsidiary, Jinko Solar (Haining) Co., Ltd., which has now completed all industrial and commercial change registrations.
Data from Tianyancha shows that Jinko (Haining) has introduced three new strategic investors, namely Industrial Bank Financial Asset Investment Co., Ltd., China Post Financial Asset Investment Co., Ltd., and China Merchants Bank Financial Asset Investment Co., Ltd. The company's registered capital has increased from RMB 3.57 billion to RMB 4.34973 billion, representing a growth rate of approximately 22%.
It is reported that the capital increase plan was approved by the listed company's board of directors and extraordinary general meeting as early as January this year, with an initial proposed total capital increase of no more than RMB 3 billion.
Previously, on June 12, Jinko (Haining) officially signed a capital increase agreement with the investors. Ultimately, the three bank-affiliated financial asset investment companies contributed a total of RMB 2 billion in cash. Upon completion of the transaction, they collectively hold a 17.9260% equity stake in Jinko (Haining).
Public information indicates that Jinko (Haining) serves as a key production base for photovoltaic cells and modules of Jinko Solar, undertaking the operation of the company’s N-type photovoltaic production capacity. In terms of equity structure, after the completion of the capital increase, Jinko Solar maintains absolute controlling ownership with a total direct and indirect equity stake of 75.0045% in Jinko (Haining), and the subsidiary will continue to be included in the consolidated financial statements of the listed company.
Source：EnergyTrend