JinkoSolar Signs RMB360 Million Loan Agreement with China Development Bank
SHANGHAI, April 4, 2013 /PRNewswire/ -- JinkoSolar Holding Co., Ltd. ("JinkoSolar" or the "Company") (NYSE: JKS), a leading global PV solar power product manufacturer, today announced that it has signed a RMB360 million (approximately US$58 million) 15-year loan agreement with China Development Bank ("CDB"). The Company will use the financing to develop its domestic PV solar power plant projects.
"We are very pleased to further extend our relationship with CDB by signing this loan agreement," stated Mr. Xiande Li, Chairman of JinkoSolar. "Securing long-term and stable source of capital, within this agreement, will reinforce our competitive status and already leadership position in the Chinese market. It demonstrates CDB's trust in the Company's strong balance sheet and solid market reputation. We will utilize the financing to promote the development of our PV solar systems to create more opportunities in the green energy field."
JinkoSolar is a leading solar power product manufacturer with production operations in Jiangxi and Zhejiang Provinces in China and sales and marketing offices in Shanghai, China; Munich, Germany; Bologna, Italy; Montpellier, France; Zug, Switzerland; San Francisco, the United States; Queensland, Australia; Ontario, Canada and Singapore.
JinkoSolar has built a vertically integrated solar product value chain with an integrated annual capacity of approximately 1.2 GW each for silicon ingots, silicon wafers, solar PV cells and solar PV modules as of September 30, 2012. JinkoSolar distributes its photovoltaic products to a diversified customer base in the global PV market, including Germany, Italy, Belgium, Spain, the United States, France, Eastern Europe, China, India, Japan and other countries and regions.
Safe Harbor Statement
This press release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Further information regarding these and other risks is included in JinkoSolar's filings with the U.S. Securities and Exchange Commission, including its annual report on Form 20-F. Except as required by law, the Company does not undertake any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.
For investor and media inquiries, please contact:
Mr. Sebastian Liu
JinkoSolar Holding Co., Ltd.
Tel: +86 21 6061 1792
Mr. Christian Arnell
Tel: +86 10 5826 4939
In the U.S.:
Mr. Jeff Bloker
Tel: +1 480 614 3003
SOURCE JinkoSolar Co., Ltd.