晶科能源，出售子公司，光伏龙头接盘

Core Viewpoint - Jinko Solar has signed an agreement to sell 80% of its subsidiary, Jinko New Materials, to Dike Co., aiming to optimize asset structure and improve operational efficiency [1][2]. Group 1: Transaction Details - The total equity value of Jinko New Materials is set at 100 million RMB, with the 80% stake valued at 80 million RMB [1]. - Following the transaction, Jinko Solar will retain a 20% stake in Jinko New Materials, which will no longer be included in the consolidated financial statements [1]. - Within 24 months post-closing, Jinko Solar is expected to acquire the remaining 20% stake for no less than 20 million RMB, through cash and/or share issuance [2]. Group 2: Company Performance - Jinko Solar reported a 32.63% year-on-year decline in revenue for the first half of 2025, totaling 31.831 billion RMB, with a net loss of 2.909 billion RMB compared to a net profit of 1.2 billion RMB in the same period last year [3]. - Dike Co., established in 2010, has become a leading supplier of photovoltaic metallization paste, achieving a revenue of 8.34 billion RMB in the first half of 2025, a 9.93% increase year-on-year, but with a 70.03% decline in net profit to 69.81 million RMB [4]. - Dike Co. sold 879.86 tons of photovoltaic conductive paste, a 22.28% decrease year-on-year, with 94.87% of sales attributed to N-type TOPCon battery products [4].