Jiangxi Jinko Announces Preliminary Financial Data For 2021 To Date
JinkoSolar Holding Company subsidiary Jiangxi Jinko (Jinko Solar Co Ltd) is heading for estimated first-to-third quarter revenue of RMB 23.6 billion to RMB 23.8 billion as of September 24, 2021.
These values ââare converted into US $ 3.6 billion and US $ 3.75 billion, respectively, at a conversion rate of 10: 1.55. The company has calculated the amounts in accordance with generally acceptable accounting principles (GAAP) of the People’s Republic of China.
Jiangxi Jinko to be listed on the Shanghai Stock Exchange
JinkoSolar Holding Company Ltd has released information regarding its intention to request an Initial Public Offering (IPO) for Jiangxi Jinko, as required by the Shanghai Stock Exchange. This will allocate between 10 and 25% of its total share capital and qualify it to be listed on the Shanghai Stock Exchange.
Net income attributable to shareholders of Jiangxi Jinko
According to the holding company JinkoSolar Holding Company Ltd., the net value attributable to the turnover to shareholders of Jiangxi Jinko – excluding infrequent and unusual economic events – is likely to be between 230 and 260 million RMB.
These values ââare converted between US $ 35.5 million and US $ 45.5 million respectively, at a conversion rate of 10: 1.55. Three quarters of this value goes to the holding company with regard to its estimated participation of 73.28%.
Difference from consolidated results of JinkoSolar Holding Company
JinkoSolar Holding Company Ltd’s announcement identifies and explains a discrepancy between two sets of financial data in terms of scope of consolidation as follows:
- Jiangxi Jinko’s results apply only to the financial performance of this entity.
- While the holding company includes Jiangxi Jinko and other subsidiaries.
- Jiangxi Jinko’s estimates are in accordance with GAAP for the People’s Republic of China.
- Whereas the holding company complies with United States accounting principles.
Financial results based on available information
Jiangxi Jinko’s estimates are provisional and intended for the initial public offering on the Shanghai Stock Exchange. They are therefore likely to change according to the JinkoSolar holding company.
These variances could be material and are therefore subject to change after financial close and actual reporting. The holding company advises against using the information for future projections. Investors should exercise caution and not base their decisions on information alone.
About Jiangxi Jinko (Jinko Solar Co Ltd)
Jiangxi Jinko is a global leader in solar module manufacturing, in terms of scale and innovation. It provides solar products and services to the United States, People’s Republic of China, United Kingdom, Belgium, France, Germany, Spain, Italy, United Arab Emirates, India, Japan, Brazil, Chile, Mexico, South Africa and other countries and regions.
The holding company was established in 2006 in Shanghai. It is geographically well positioned to deliver to the Chinese solar energy market, which is the world’s largest for solar thermal and photovoltaic energy.
The company’s integrated solar products value chain has an annual capacity of 12, 27 and 31 gigawatts for solar cells, monowafers and solar modules, respectively. It has nine global production facilities and has 22 overseas subsidiaries in most regions.