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JKS

JinkoSolar

$16.79

0.7 (4.35%)

06:54
10/11/16
10/11
06:54
10/11/16
06:54

JinkoSolar enters into agreement for sale of downstream business in China

JinkoSolar announced that Wide Wealth Group Holding Limited, a 55%-owned indirect subsidiary of the company, has entered into a Share Purchase Agreement, or SPA, with Shangrao Kangsheng Technology, a company incorporated with limited liability under the laws of the People's Republic of China, formed by a buyer consortium led by Xiande Li, chairman of the board of the company. Subject to satisfaction or waiver of the SPA's terms and conditions, the Buyer will acquire all of the 55% equity interest indirectly held by JinkoSolar in Jiangxi JinkoSolar Engineering Co., Ltd., a developer and operator of solar power projects in the People's Republic of China, for a total consideration of $250M in cash. Through this transaction, JinkoSolar will spin off all its downstream business of Jinko Power and get $250M in cash. The transaction is currently expected to close during Q4 of 2016. The buyer intends to fund the Purchase Price with personal funds and debt financing.

JKS JinkoSolar
$16.79

0.7 (4.35%)

06/03/16
ROTH
06/03/16
NO CHANGE
Target $30
ROTH
Buy
JinkoSolar price target lowered to $30 from $35 at Roth Capital
Roth Capital analyst Philip Shen lowered his price target for JinkoSolar (JKS) to $30 from $35 given the threat of overcapacity in Q3 as demand in China steps down. While he expects every company in the entire group of upstream manufacturers to be impacted, the analyst reiterates his Buy rating on JinkoSolar's shares as he sees the company better positioned on a relative basis compared to its peers, with its margins and improving diversification of geographic exposure. Shen downgraded JA Solar (JASO) and Trina Solar (TSL) to Neutral.
06/09/16
JPMS
06/09/16
UPGRADE
JPMS
Overweight
JinkoSolar upgraded to Overweight from Neutral at JPMorgan
07/08/16
OTRG
07/08/16
NO CHANGE
OTRG
Solar PV Manufactures downgraded to Negative from Mixed at OTR Global
OTR Global's changed its view on the Solar PV Manufactures sector to Negative from Mixed. The firm's checks indicate the outlook for 2016 solar PV installations has weakened due to slowing Q2 demand with April pricing falling below expectations in all regions, including China.
08/05/16
ROTH
08/05/16
DOWNGRADE
Target $18
ROTH
Neutral
JinkoSolar downgraded to Neutral from Buy at Roth Capital
Roth Capital analyst Philip Shen downgraded JinkoSolar to Neutral from Buy and lowered his price target on the shares to $18 from $30. The analyst believes the softening demand in major solar markets and increasing cell/module capacity in 2016 is creating an oversupply situation that could persist for 1.5 years. Shen expects a supply/demand imbalance to accelerate ASP declines and put pressure on JinkoSolar's margins and earnings ahead.

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