Jinko Power proposes lower convertible bond conversion price

Jinko Power Technology Co., Ltd. (stock code: 601778) announced on September 4, 2025, that its board has proposed a downward revision to the conversion price of its "JinkoSolar Convertible Bonds." This proposal follows the company's stock closing price falling below 90% of the current conversion price (RMB 5.21 per share) for fifteen trading days between August 12, 2025, and September 3, 2025.

The "JinkoSolar Convertible Bonds" were initially issued for RMB 3 billion across 30 million units, with an initial conversion price of RMB 6.75 per share, which has been adjusted multiple times to the current RMB 5.21 per share. The proposed adjustment, pending shareholder approval, aims to optimize capital structure and protect investor interests.

The board's proposal for the conversion price adjustment will be submitted to the company's shareholders for approval. Shareholders holding "JinkoSolar Convertible Bonds" will be required to recuse themselves from the voting process. The revised price will not be lower than the higher of the average trading prices of the company's stock for the twenty trading days preceding the shareholders' meeting and the trading day before the meeting, nor below the net asset value per share and par value from the latest audited period.