Core Viewpoint - JinkoSolar, a leading integrated photovoltaic company, has been active in the capital market, recently announcing a high-premium sale of subsidiary equity and a share transfer by its controlling shareholder and concerted parties [1][3]. Group 1: Share Transfer Details - On September 16, JinkoSolar announced the share transfer price of 4.90 CNY per share, which represents a discount of approximately 10% compared to the closing price of 5.46 CNY [3]. - The shares being transferred account for 4% of JinkoSolar's total equity, with the transfer motivated by the shareholders' funding needs [3]. - The share transfer has been fully subscribed, with 25 institutional investors participating, and 22 institutional investors preliminarily selected as buyers [3]. Group 2: Subsidiary Sale - On September 9, JinkoSolar announced the sale of 80% of its subsidiary, Zhejiang Jinko New Materials, to Dike Co., Ltd. for 80 million CNY, with a premium rate of 299.08% [4]. - The sale aims to optimize the company's asset structure and resource allocation, improving operational efficiency and reducing management costs [4]. - Following the transaction, JinkoSolar will no longer consolidate Zhejiang Jinko New Materials into its financial statements [4]. Group 3: Financial Performance - In the first half of 2025, JinkoSolar achieved a record shipment of 41.8 GW of photovoltaic modules, ranking first globally [5][6]. - The company reported revenue of 31.831 billion CNY and a net loss attributable to shareholders of 2.909 billion CNY for the same period, with an asset-liability ratio of approximately 74.08% [5][6]. - Despite a slight improvement in second-quarter performance, the company continues to face financial risks due to industry cycles and declining photovoltaic product prices [5][6]. Group 4: Future Outlook - JinkoSolar anticipates a modest growth in global market demand in 2026 compared to 2025, with conservative growth expected in the Chinese market and healthier growth in regions like the Middle East, Europe, and Latin America [6].

插播 ：历时数月深度调研，行家说储能联合天合光能参编，工商业储能产业首份调研级报告发布！点击下方" 阅读原文 "订阅 日前，瓦锡兰、昆宇电源、阳光电源、晶科能源等多企宣布 签订战略合作，涉及储能订单近4GWh，订单主要在澳大利亚、西班牙、土耳其、日 本、德国等。 ■ 瓦锡兰：又签1.474GWh储能订单 在 2025 智能能源周期间，阳光电源日本公司与开发非 FIT 太阳能发电厂的先驱Sun Village株式会社签署了协议，用于在东京采购和销售电网规 模的储能系统。 根据该协议，Sun Village计划在日本各地的电池储能发电厂部署约 500MWh 的阳光电源储能系统。 这些系统包括集装箱型PowerTitan和机柜型 PowerStack，支持并排、背靠背等灵活安装方式。产品采用安全可靠设计，配备Pack-Rack-PCS三级过流保护机制、高级消防系统及热失控防护 功能。 日 前 ， 瓦 锡 兰 （ Wärtsilä Energy ） 已 与 Energy Australia 签 订 合 同 ， 为 澳 大 利 亚 维 多 利 亚 州 的 Wooreen 储 能 项 目 （ WESS ） 提 供 350 ...