JinkoSolar Holding, the world’s largest solar PV module supplier, plans to divest 3% stake in its principal operating subsidiary, Jinko Solar Co., Ltd. (Jiangxi Jinko), to raise funds for its business operations.  

Currently, JinkoSolar owns approximately 58.59% of the equity interest in Jiangxi Jinko. Upon the sale of A shares in the subsidiary, its ownership will reduce to approximately 55.59%. 

The purchase price per A share will be set at not less than 70% of the subsidiary’s average trading price for A shares over the last 20 consecutive trading days before September 12, 2025. 

Jiangxi Jinko is JinkoSolar’s solar PV manufacturing arm. Like several others of its peers, its business has been negatively impacted by the oversupply-driven price pressure in the industry over the last few quarters. 

In H1 2025, Jiangxi Jinko reported a 32.6% year-on-year (YoY) decline in its operating income to RMB 31.8 billion and a net loss of RMB 2.91 billion. By the end of 2025, it targets annual production capacity of 120 GW, 95 GW, and 130 GW for mono wafers, solar cells, and solar modules, respectively (see Overseas Demand Led JinkoSolar’s H1 2025 Module Shipments).  

“We believe that the sale of A Shares will strengthen our cash flows, improve our cash position, support our ongoing business operations, and enhance our resilience to risks. Meanwhile, it allows us to preserve the capacity for future shareholder returns, reinforcing long-term shareholder value,” said JinkoSolar Chairman and Chief Executive Officer Xiande Li.