SHANGRAO, China, Nov. 6, 2020 /PRNewswire/ -- JinkoSolar Holding Co., Ltd. ("JinkoSolar" or the "Company") (NYSE: JKS), one of the largest and most innovative solar module manufacturers in the world, today announced that the Company and its subsidiary Sichuan Jinko have signed a long-term purchase agreement with second tier subsidiaries of Tongwei Co., Ltd. ("Tongwei"), namely Sichuan Yongxiang Polysilicon Co., Ltd., Sichuan Yongxiang New Energy Co., Ltd., Inner Mongolia Tongwei High-purity Crystalline Silicon Company, and Yunnan Tongwei High-purity Crystalline Silicon Company. The raw materials procurement will ensure a stable supply of polycrystalline silicon ("Poly-Si") in line with JinkoSolar's strategic and operational plans.
Under the agreement, JinkoSolar has locked in nearly 100,000 metric tons of polycrystalline silicon and both parties can negotiate additional purchases. The price for any additional order will be negotiated and determined based on market conditions at that time.
Mr. Kangping Chen, Chief Executive Officer of JinkoSolar, commented, "Building strategic partnerships with suppliers of key raw materials is essential for our business and to raise our competitive edge in the solar industry. We are very pleased to begin this partnership with an industrial leader like Tongwei, a strategic cooperation that will contribute to the stability of JinkoSolar's long-term business. This is the first long-term contract with Tongwei for the steady supply of poly-Si, a win-win scenario that will no doubt bring on other advantages for both parties and further promote the development of renewable energy. We look forward to more opportunities with Tongwei, and to explore other ways we can work together to create value for the global PV industry."
Mr. Duan Yong, Director of Tongwei Co., Ltd., Chairman and General Manager of Yongxiang Co., Ltd., commented, "JinkoSolar is one of Tongwei's most trusted customers and we are very pleased to reach a strategic cooperation with a leading PV module manufacturer like JinkoSolar. The signing of this contract is conducive to the stable sales of Tongwei's high-purity polysilicon products and is in line with our future business strategy. It is also conducive to bringing into play the leading advantages of two major industry players in the PV industry, and to jointly promote the development of the global PV market."
About JinkoSolar Holding Co., Ltd.
JinkoSolar (NYSE: JKS) is one of the largest and most innovative solar module manufacturers in the world. JinkoSolar distributes it 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 20 GW for silicon wafers, 11 GW for solar cells, and 25 GW for solar modules, as of June 30, 2020.
JinkoSolar has 7 production facilities globally, and 14 overseas subsidiaries in Japan, South Korea, Vietnam, India, Turkey, Germany, Italy, Switzerland, United States, Mexico, Brazil, Chile, and Australia, and global sales teams in China, United Kingdom, France, Spain, Bulgaria, Greece, Ukraine, Jordan, Saudi Arabia, Tunisia, Morocco, Kenya, South Africa, Costa Rica, Colombia, Panama, Kazakhstan, Malaysia, Myanmar, Sri Lanka, Thailand, Vietnam, Poland, and Argentina.
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:
Ms. Ripple Zhang
JinkoSolar Holding Co., Ltd.
Tel: +86 21-5183-3105
SOURCE JinkoSolar Holding Co., Ltd.