Stock code: 688223 Stock abbreviation: JinkoSolar Bulletin No.: 2024-040
Bond Code: 118034 Bond Abbreviation: Jingneng Convertible Bond
JinkoSolar Limited
Announcement on the Progress of the Sale of Equity in Subsidiaries
the company's board of directors and all directors to ensure that the contents of this announcement does not exist any false records, misleading statements or major omissions, and the authenticity, accuracy and completeness of the contents of the legal responsibility.
1. Transaction Overview
JinkoSolar Co., Ltd. (hereinafter referred to as the "Company") held the first meeting on May 23, 2023.
The 28th meeting of the first board of directors and the 19th meeting of the first board of supervisors were held on June 14, 2023.
The 2022 Annual General Meeting of Shareholders was held on the same day to consider and pass the "Proposal on the Sale of 100% Equity in Subsidiaries to Foreign Countries", and agreed to transfer the company's holdings of Xinjiang Jingke Energy Co., Ltd. (hereinafter referred to as "Xinjiang Jingke", now renamed as "Xinjiang Shibang Solar Energy Technology Co., Ltd.") 100% of the equity was sold to Ziyang Major Industrial Equity Investment Fund Partnership (Limited Partnership) (hereinafter referred to as "Heavy Production Fund") and the subject jointly designated by Dong Shihong,
For details, please refer to the website of the Shanghai Stock Exchange on May 25, 2023 and June 15, 2023.
(www.sse.com.cn) Announcement of Jingke Energy Co., Ltd. on the Sale of 100 Equity in Subsidiaries (Announcement No. 2023-038) and Announcement of Resolutions of the 2022 Annual General Meeting of Jingke Energy Co., Ltd. (Announcement No. 2023-043).
On December 26, 2023, the company held the first meeting of the second board of directors and the second board of supervisors.
A meeting to consider the adoption of the "Proposal on the Signing of a Supplementary Agreement to the Subsidiary
Called the "Supplementary Agreement"), the details of which are detailed on the website of the Shanghai Stock Exchange on December 27, 2023.
Announcement of Jingke Energy Co., Ltd. on the Progress of the Sale of Subsidiary Equity and the Signing of Supplementary Agreement (Announcement No. 2023-115) disclosed by the station (www.sse.com.cn).
As of February 27, 2024, the transaction has been approved by the State Administration of Market Supervision and Administration.
In the review, the company has received the first equity transfer payment of RMB 12 from the counterparty Fang Shiyang Green Energy Technology.
Xinjiang Jingke has completed the registration of industrial and commercial changes on February 26, 2024.
JinkoSolar, disclosed on the website of the Shanghai Stock Exchange (www.sse.com.cn) on February 27, 2024.
Announcement on the Progress of the Sale of Subsidiary Shares to Complete the Registration of Industrial and Commercial Changes (Announcement No. 2024-006).
Progress of 2. transactions
According to the relevant agreement of the Supplementary Agreement, the counterparty, Fang Shiyang Green Energy Technology, shall be no later than 2024.
On June 30, the company was paid the second transfer price of RMB 1.5 billion yuan. Ruoshiyang Green Energy Section
If the technology fails to pay the transfer price of the second phase in full on the latest payment date of the transfer price of the second phase, it shall pay the interest on capital occupation to the company according to the calculation standard of 2%/year (single interest) based on the unpaid transfer price of the second phase (the interest on capital occupation shall be calculated from the day after the latest payment date of the transfer price of the second phase).
As of the disclosure date of this announcement, the M & A loan applied for by Shiyang Green Energy Technology is under bank approval, so the second phase of equity transfer payment has not been paid in time. After the company and Shiyang Green Energy Technology communication, it is still actively raising funds. In order to protect the legitimate rights and interests of the company, the company's management will continue to actively negotiate with Shiyang Green Energy Technology, urge it to fulfill its payment obligations in a timely manner, and pay the company the corresponding interest on the use of funds.
The above-mentioned equity transfer payment has not yet been recovered will not have a significant adverse impact on the company's daily production and operation and the full-year results in 2024. The company will take corresponding safeguard measures in a timely manner according to the actual situation, and fulfill the obligation of information disclosure in a timely manner according to the progress of follow-up performance. Please pay attention to the investment risk of the majority of investors.
It is hereby announced.
JinkoSolar Limited
Board of Directors
July 3, 2024
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