JinkoSolar Signs US$1 Billion Strategic Cooperation Agreement with
China Development Bank
SHANGHAI and ZUG, Switzerland, Dec. 7,
2012 /PRNewswire/ -- JinkoSolar Holding Co., Ltd.
("JinkoSolar" or the "Company") (NYSE: JKS), a leading global solar
power product manufacturer, today announced that JinkoSolar
(Switzerland) AG, its Swiss
subsidiary, has entered into a strategic cooperation agreement
("Strategic Cooperation Agreement") with the Guangdong Branch of China Development Bank
("CDB"), pursuant to which CDB intends to provide financing
cooperation to JinkoSolar (Switzerland) AG of an aggregate amount up to
US$ 1 billion over a five-year
period. The final conditions, terms and amount of the financing
under the Strategic Cooperation Agreement is subject to the
parties' further approval and will be set out in separate
agreements.
JinkoSolar (Switzerland) AG
will act as the platform to further expand the Company's presence
overseas as the Company intends to use the financing to develop its
overseas expansion, merger, acquisition, and downstream business,
including project development and EPC for Photovoltaic ("PV") solar
power plants. Pursuant to the Strategic Cooperation Agreement, the
two parties will establish a high-level joint meeting mechanism to
evaluate the progress of major development projects.
The Strategic Cooperation Agreement was signed in the presence
of Mr. Shouguo Chang, Deputy
President of CDB Guangdong Branch, and Mr. Xiande Li, Chairman of JinkoSolar, in Zug,
Switzerland on December 7th, local time.
"As China's largest foreign investment and financing bank, China
Development Bank has been implementing national development
strategy and providing strong support to strategic plans and social
development of the nation," stated Mr. Shouguo Chang, Deputy President of CBD Guangdong
Branch. "We are pleased to be able to cooperate with JinkoSolar
with this financing cooperation as it will provide JinkoSolar with
the flexibility it needs to develop and finance overseas PV
projects, which we believe will provide steady returns to
investors. The signing of this Strategic Cooperation Agreement
marks the beginning of what we hope will be a fruitful relationship
between JinkoSolar and CDB over the next five years."
"As a leading solar power product manufacturer, we are delighted
at the opportunity to cooperate on a strategic level with CDB,"
commented Mr. Xiande Li, Chairman of
JinkoSolar. "The agreement with CDB will provide numerous
advantages to us, including a long-term, stable source of capital
and a complete set of financial servicesand it will have a
far-reaching impact as it demonstrates the confidence with which a
leading PV enterprise and strong and respectable financial
institution set upon changing the global renewable energy market.
We have the confidence to become a premium client of CDB and we
will surely make good use of this platform to create a steady
stream of high-quality PV projects and excellent return on
investment not only in Europe, but
in global markets."
About JinkoSolar
JinkoSolar Holding Co., Ltd. (NYSE: JKS) is a leading solar
power product manufacturer with production operations in
Jiangxi and Zhejiang Provinces in
China and sales and marketing
offices in Shanghai and
Beijing China; Munich, Germany; Bologna, Italy; Montpellier, France; Zug, Switzerland; San
Francisco, U.S.; 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 and wafers, solar cells and solar modules
as of September 30, 2012. JinkoSolar
distributes its photovoltaic products to a diversified customer
base in the global PV market, including in Germany, Italy, Belgium, Spain, the United
States, France,
Eastern Europe, South Africa, Japan, China,
India and other countries and
regions.
Safe Harbor Statement
This news release may contain 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 "anticipates," "believes,"
"estimates," "expects," "future," "intends," "plans," "will," and
similar statements. Such statements involve inherent 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 public
filings with the Securities and Exchange Commission, including its
annual report on Form 20-F for the year ended December 31, 2011 filed with the Securities and
Exchange Commission on April 18,
2012, as amended on April 19,
2012. All information provided in this news release is as of
December 7, 2012. Except as required
by law, JinkoSolar undertakes no obligation to update or revise
publicly any forward-looking statements, whether as a result of new
information, future events or otherwise, after the date on which
the statements are made or to reflect the occurrence of
unanticipated events.
For investor and media inquiries, please contact:
In China:
Sebastian Liu
JinkoSolar Holding Co., Ltd.
Tel: +86 21 6061 1792
Email: ir@jinkosolar.com
Christian Arnell
Christensen
Tel: +86 10 5826 4939
Email: carnell@christensenIR.com
In the U.S.:
Jeff Bloker
Christensen
Tel: +1 480 614 3003
Email: jbloker@christensenIR.com
SOURCE JinkoSolar Holding Co., Ltd.