Jinko Power guarantees subsidiary debt to facilitate equity transfer

Jinko Power Technology Co., Ltd. (Jinko Power) announced it will provide a ¥376,477,300 guarantee for its associate, Lianyungang Kehua New Energy Co., Ltd. The guarantee replaces an existing equity pledge by Jinko Power’s wholly-owned subsidiary, Shanghai Jingping Power Co., Ltd., and Hangzhou Jinyan New Energy Technology Co., Ltd., for a finance lease with Huarong Financial Leasing Co., Ltd. Hangzhou Jinyan's related party, Jinyan Capital, will provide a counter-guarantee to Jinko Power.

This temporary arrangement, expected to last no more than three months, aims to enable the transfer of all equity in Lianyungang Kehua, which owns a 136MW distributed photovoltaic project. The board of directors approved the guarantee at its meeting held on November 25, 2205. This decision ensures compliance with a financial institution's request to facilitate the equity transfer process.

As of the announcement date, Jinko Power’s total external guarantees, including this transaction, amount to ¥1,985,129,570, representing 125.06% of the company's most recent audited net assets attributable to the parent company. Guarantees for controlling subsidiaries total ¥1,692,278,410. There are no overdue external guarantees.