Jinkai New Energy shareholder group boosts stake to 20%

Tianjin Jin Kai Enterprise Management Co., Ltd., along with its affiliated entities—Tianjin Jin Cheng No. 2 Equity Investment Fund Partnership (Limited Partnership), Tianjin Jin Rong Capital Operation Co., Ltd., and Tianjin Jin Rong Zhuo Chuang Investment Management Co., Ltd.—have collectively increased their stake in Jinkai New Energy Co., Ltd. (SSE: 600821) to 20.00%. The equity increase was achieved through concentrated bidding on the Shanghai Stock Exchange, with a total of 62,773,519 shares acquired, representing 3.14% of Jinkai’s total share capital. The total expenditure for this increase was approximately CNY 356,234,400, funded through a combination of internal funds (CNY 60,000,000) and special loan arrangements. The company stated that the purpose of the increase is to improve investor confidence and support the company's continued healthy growth. Tianjin Jin Kai Enterprise Management Co., Ltd. will remain as a the holding shareholder with the transaction. The ultimate controller of JinKai New Energy remains to be Tianjin State-owned Assets Supervision and Administration Commission (SASAC).