Jinko Power to boost capital, revamp governance, adjust bond conversion price

Jinko Power Technology Co. Ltd. announced a capital increase from 3,570,954,622 yuan to 3,570,973,871 yuan due to the conversion of its "Jinko Convertible Bonds." This adjustment reflects the conversion of 19,249 shares between January 1, 2024, and June 30, 2025.

In parallel, the company proposes to abolish its Supervisory Board, with its functions to be assumed by the Board of Directors' Audit Committee, aligning with new company law regulations. This change necessitates extensive revisions to the company’s Articles of Association and various internal governance documents, including the Shareholder Meeting Rules and Board of Directors Meeting Rules.

Additionally, the Board of Directors proposes a downward adjustment to the conversion price of "Jinko Convertible Bonds" from 5.21 yuan per share, as the stock price has fallen below 90% of the current conversion price for at least 15 trading days. The final conversion price will be determined by the General Meeting of Shareholders, considering market conditions and the company's net asset value. This move aims to optimize capital structure and protect investor interests.