JinkoSolar board approves upsizing existing buyback program to $350M

JinkoSolar (JKS) “announced that its board of directors has approved the upsizing and extension of its existing share repurchase program. As previously announced, the Company launched a share repurchase program in July 2022, whereby the Company was authorized to repurchase up to US$200 million of its Class A ordinary shares represented by American depositary shares. In December 2023, the Company extended the share repurchase program by 18 months through June 30, 2025. As of the date of this press release, the Company had repurchased approximately US$134.5 million of the ADSs authorized under the Existing Share Repurchase Program. On December 10, 2024, the Board has approved to upsize the Existing Share Repurchase Program by increasing the aggregate value of Class A ordinary shares represented by ADSs that may be repurchased from $200 million to $350 million. In addition, the Board has also approved to extend the Existing Share Repurchase Program for an additional 12-month period through June 30, 2026. Under the Extended Share Repurchase Program, the Company may repurchase up to approximately US$215.5 million of its Class A ordinary shares represented by the ADSs through June 30, 2026.”