JinkoSolar Repurchases $11.8M in ADSs, Extends Buyback Program

Ticker: JKS · Form: 6-K · Filed: 2024-02-05T00:00:00.000Z

Sentiment: bullish

Topics: share-repurchase, buyback, corporate-action

TL;DR

**JinkoSolar bought back $11.8M of its own stock, signaling confidence and potentially boosting share value.**

AI Summary

JinkoSolar Holding Co., Ltd. (NYSE: JKS) announced on February 5, 2024, that it repurchased 400,000 American depositary shares (ADSs) for approximately US$11.8 million between December 20, 2023, and February 2, 2024. This action was part of its extended share repurchase program, which was originally authorized for up to US$200 million on July 6, 2022, and then extended for an additional 18 months on December 20, 2023. This matters to investors because share repurchases can boost earnings per share and signal management's confidence in the company's valuation, potentially increasing shareholder value.

Why It Matters

Share repurchases reduce the number of outstanding shares, which can increase earnings per share and potentially drive up the stock price, benefiting existing shareholders.

Risk Assessment

Risk Level: low — Share repurchases are generally seen as a positive signal, indicating management believes the stock is undervalued.

Analyst Insight

A smart investor would view this as a positive signal, suggesting management believes the stock is undervalued and is committed to returning value to shareholders. It might be a good time to consider holding or adding to a position, especially if the company's fundamentals remain strong.

Key Numbers

Key Players & Entities

Forward-Looking Statements

FAQ

What was the total value of American depositary shares (ADSs) repurchased by JinkoSolar?

JinkoSolar repurchased ADSs in an aggregate amount of approximately US$11.8 million.

How many American depositary shares (ADSs) did JinkoSolar repurchase?

JinkoSolar repurchased 400,000 American depositary shares (ADSs).

When did JinkoSolar conduct these specific share repurchases?

The repurchases occurred between December 20, 2023, and February 2, 2024.

When was JinkoSolar's share repurchase program originally announced and for what amount?

The share repurchase program was originally announced on July 6, 2022, authorizing the company to repurchase up to US$200 million of its ordinary shares represented by ADSs.

When was the share repurchase program extended and for how long?

The share repurchase program was extended on December 20, 2023, for an additional 18-month period.

From the Filing

0001104659-24-010395.txt : 20240205 0001104659-24-010395.hdr.sgml : 20240205 20240205095804 ACCESSION NUMBER: 0001104659-24-010395 CONFORMED SUBMISSION TYPE: 6-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20240205 FILED AS OF DATE: 20240205 DATE AS OF CHANGE: 20240205 FILER: COMPANY DATA: COMPANY CONFORMED NAME: JinkoSolar Holding Co., Ltd. CENTRAL INDEX KEY: 0001481513 STANDARD INDUSTRIAL CLASSIFICATION: SEMICONDUCTORS & RELATED DEVICES [3674] ORGANIZATION NAME: 04 Manufacturing IRS NUMBER: 000000000 STATE OF INCORPORATION: E9 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 6-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-34615 FILM NUMBER: 24594358 BUSINESS ADDRESS: STREET 1: 1 YINGBIN ROAD STREET 2: SHANGRAO ECONOMIC DEVELOPMENT ZONE CITY: JIANGXI PROVINCE STATE: F4 ZIP: 334100 BUSINESS PHONE: (86-793)858-8188 MAIL ADDRESS: STREET 1: 1 YINGBIN ROAD STREET 2: SHANGRAO ECONOMIC DEVELOPMENT ZONE CITY: JIANGXI PROVINCE STATE: F4 ZIP: 334100 6-K 1 tm245200d1_6k.htm FORM 6-K UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934 For the month of February 2024 Commission File Number: 001-34615 JinkoSolar Holding Co., Ltd. (Translation of registrant’s name into English) 1 Yingbin Road Shangrao Economic Development Zone Jiangxi Province, 334100 People’s Republic of China (Address of principal executive offices) Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F. Form 20-F x Form 40-F ¨ EXHIBIT INDEX Number Description of Document 99.1 Press Release SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. JinkoSolar Holding Co., Ltd. By: /s/ Mengmeng (Pan) Li Name: Mengmeng (Pan) Li Title: Chief Financial Officer Date: February 5, 2024 EX-99.1 2 tm245200d1_ex99-1.htm EXHIBIT 99.1 Exhibit 99.1 JinkoSolar Repurchased 400,000 ADSs under Its Extended Share Repurchase Program 02/05/2024 SHANGRAO, China, Feb. 5, 2024 /PRNewswire/ -- 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 between December 20, 2023 and February 2, 2024, the Company repurchased 400,000 American depositary shares of the Company (the "ADSs") in an aggregate amount of approximately US$11.8 million in the open market under its previously announced extended share repurchase program. On July 6, 2022, the Company announced a share repurchase program, which authorizes the Company to repurchase up to US$200 million of its ordinary shares represented by ADSs for an 18-month period. On December 20, 2023, the Company extended this share repurchase program for an additional 18-month period through June 30, 2025. As of the date of this press release, approximately US$179.1 million of the Company's ordinary shares represented by the ADSs under the extended share repurchase program had not been utilized. The Company may continue to repurchase its ADSs through open-market transactions, privately negotiated transactions or block trades, and/or other legally permissible means, depending on market conditions and in accordance with the applicable rules and regulations. The timing and conditions of the share repurchases will be subject to various factors including the requirements under Rule 10b-18 and Rule 10b5-1 of the Exchange Act, as well as the Company's insider trading policy. Mr. Xiande Li, JinkoSolar's Chairman of the Board and Chief Executive Officer, commented, "Leveraging the competitive advantage of our N-type TOPCon technology, extensive global operation network, and advanced integrated capacity structure, we are confident in our ability to navigate through

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