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Form 6-K JinkoSolar Holding Co., For: Oct 11

October 11, 2016 8:45 AM EDT

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549

______________

 

FORM 6-K

 

______________

 

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16 OF THE

SECURITIES EXCHANGE ACT OF 1934

  

For the Month of October 2016

 

Commission File Number 001-34615

 

JinkoSolar Holding Co., Ltd.

(Translation of registrant’s name into English)

 

1 Jingke Road

Shangrao Economic Development Zone

Jiangxi Province, 334100

People’s Republic of China

(Address of principal executive offices)

 

 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

 

Form 20-F x     Form 40-F o

 

 

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1).

 

Yes o     No x

 

 

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7).

 

Yes o     No x

 

 

 

 

EXHIBIT INDEX

 

 

Number Description of Document
99.1 Press Release

 

 

 

 

SIGNATURES

 

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

 

  JinkoSolar Holding Co., Ltd.
       
  By:  /s/ Haiyun (Charlie) Cao 
  Name:  Haiyun (Charlie) Cao 
  Title:  Chief Financial Officer 

 

 

Date: October 11, 2016

 

 

 

Exhibit 99.1

 

 

JinkoSolar Enters Into Definitive Agreement for the Sale of Jinko Power Downstream Business in China

 

SHANGHAI October 11, 2016 JinkoSolar Holding Co., Ltd. (JinkoSolar or the Company), a global leader in the photovoltaic industry, today announced that Wide Wealth Group Holding Limited, a 55%-owned indirect subsidiary of the Company, has entered into a Share Purchase Agreement (the “SPA”) with Shangrao Kangsheng Technology Co., Ltd. (the “Buyer”), a company incorporated with limited liability under the laws of the People’s Republic of China, formed by a buyer consortium led by Mr. Xiande Li, chairman of the board of directors of the Company (the “Board”).

 

Subject to satisfaction or waiver of the SPA’s terms and conditions, the Buyer will acquire all of the 55% equity interest indirectly held by JinkoSolar in Jiangxi JinkoSolar Engineering Co., Ltd., a developer and operator of solar power projects in the People’s Republic of China, for a total consideration of US$250 million in cash (the “Purchase Price”). Through this transaction, JinkoSolar will spin off all its downstream business of Jinko Power and get US$250 million in cash. The transaction is currently expected to close during the fourth quarter of 2016.

 

The Buyer intends to fund the Purchase Price with personal funds and debt financing.

 

The Board, acting upon unanimous recommendation of a committee of independent directors established by the Board (the “Special Committee”), unanimously approved the SPA and the transactions contemplated thereby. The Special Committee, which is composed solely of independent and disinterested directors, negotiated the terms of the SPA with the assistance of its financial and legal advisors.

 

In connection with the execution of the SPA and the performance of the transactions contemplated thereby, Duff & Phelps, LLC is serving as financial advisor to the Special Committee; Cleary Gottlieb Steen & Hamilton LLP is serving as U.S. legal advisor to the Special Committee; and Jun He Law Offices is serving as PRC legal advisor to the Special Committee. Credit Suisse (Hong Kong) Limited is serving as financial advisor to the Buyer; and Troutman Sanders LLP is serving as U.S. legal advisor to the Buyer.

 

 

 

 

 

About JinkoSolar Holding Co., Ltd.

 

JinkoSolar (NYSE: JKS) is a global leader in the solar industry. JinkoSolar distributes its solar products and sells its solutions and services to a diversified international utility, commercial and residential customer base in China, the United States, Japan, Germany, the United Kingdom, Chile, South Africa, India, Mexico, Brazil, the United Arab Emirates, Italy, Spain, France, Belgium, and other countries and regions. JinkoSolar has built a vertically integrated solar product value chain, with an integrated annual capacity of 3.5 GW for silicon ingots and wafers, 3.5 GW for solar cells, and 6.5 GW for solar modules, as of June 30, 2016. JinkoSolar also sells electricity in China, and had connected approximately 1,130 MW of solar power projects to the grid, as of June 30, 2016.

 

JinkoSolar has over 15,000 employees across its 6 productions facilities in Jiangxi, Zhejiang and Xinjiang Provinces, China, Malaysia, Portugal and South Africa, 16 oversea subsidiaries in Japan (2),  Singapore, India, Turkey, Germany, Italy, Switzerland, Spain, United States, Canada, Mexico, Brazil, Chile, Australia and South Africa. 18 global sales offices in China (2) ,United Kingdom, Bulgaria, Greece, Romania, United Arab Emirates, Jordan, Saudi Arabia, Kuwait, Egypt, Morocco, Ghana, Kenya, Costa Rica, Colombia, Brazil and Mexico.

 

To find out more, please see: www.jinkosolar.com

 

 

Safe Harbor Statement

 

This press release contains forward-looking statements. These statements constitute "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 "will," "expects," "anticipates," "future," "intends, "plans," "believes," "estimates" and similar statements. Among other things, the quotations from management in this press release and the Company's operations and business outlook, contain forward-looking statements. Such statements involve certain 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 filings with the U.S. Securities and Exchange Commission, including its annual report on Form 20-F. Except as required by law, the Company does not undertake any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.

 

 

 

 

For investor and media inquiries, please contact:

 

In China:

 

Mr. Sebastian Liu

JinkoSolar Holding Co., Ltd.

Tel: +86 21-5183-3056

Email: [email protected]

 

 

Mr. Christian Arnell

Christensen, Beijing 

Tel: +86 10 5900 2940

Email: [email protected]

 

 

In the U.S.:

 

Ms. Linda Bergkamp

Christensen, Scottsdale, Arizona
Tel: +1-480-614-3004
Email: [email protected]

 

 

 



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