JinkoSolar's Subsidiary Jiangxi Jinko Proposed to Offer and List up to 1,000,519,986 A Shares in the Form of GDRs on the Frankfurt Stock Exchange in Germany

GDR Offering Details - Jiangxi Jinko, a majority-owned subsidiary of JinkoSolar, plans to issue up to 1,000,519,986 A shares in the form of Global Depositary Receipts (GDRs), with each GDR representing 10 shares [1] - The GDRs will represent no more than 10% of Jiangxi Jinko's total share capital prior to the offering [2] - JinkoSolar's equity interest in Jiangxi Jinko will decrease from approximately 58.59% to 53.26% following the GDR Offering [2] Use of Proceeds - The gross proceeds from the GDR Offering are expected to be no more than RMB4.5 billion [3] - The net proceeds will be used for: - Construction and development of a 1 GW High-efficiency Module Project in the U.S. [3] - Construction and development of the Shanxi Phase II 14 GW Integrated Production Base Project [3] - Working capital or repayment of bank loans for Jiangxi Jinko [3] Listing and Approvals - Jiangxi Jinko intends to apply for listing the GDRs on the Frankfurt Stock Exchange [1] - The completion of the GDR Offering is subject to approvals from Jiangxi Jinko's shareholders, the Shanghai Stock Exchange, Frankfurt Stock Exchange, Federal Financial Supervisory Authority in Germany, and the China Securities Regulatory Commission [4] Company Overview - JinkoSolar is one of the largest and most innovative solar module manufacturers globally, with a diversified international customer base across multiple countries and regions [5] - As of June 30, 2024, JinkoSolar operates over 10 production facilities globally, has over 20 overseas subsidiaries, and maintains a global sales network with teams in numerous countries [6]