Jiangxi Jinko expects revenue of about $3.65 billion in the first nine month of 2021
Post date: 27/09/2021 - 12:40
Chinese solar module manufacturer Jinko Solar Holding Co., Ltd. is in the process of applying for an initial public offering (IPO) of its principal operating subsidiary, Jinko Solar Co., Ltd. (Jiangxi Jinko), on the Shanghai Stock Exchange's Sci-Tech innovation board. As part of its IPO process, Jiangxi Jinko is requested to publicly disclose the estimates of its revenues and net income as prepared in accordance with the Accounting Standards for Business Enterprises (PRC GAAP) for the nine months ending September 30, 2021.
The company estimates revenue of Jiangxi Jinko between CNY 23.6 billion and CNY 23.8 billion ($3.65 billion and $3.68 billion). The estimated net income attributable to the shareholders of Jiangxi Jinko is expected to be between CNY 625 million and CNY 655 million ($96 million and $101 million).
Jinko Solar currently owns approximately 73.28 percent equity interest in Jiangxi Jinko. The financial estimates of Jiangxi Jinko for the nine months are different from Jinko Solar's consolidated financial results, mainly because the Jiangxi Jinko Financial Estimates are prepared solely for Jiangxi Jinko, whereas the company's consolidated financials also include financial statements of Jinko Solar and its other subsidiaries. Furthermore, the Jiangxi Jinko Financial Estimates are prepared in accordance with PRC GAAP, whereas the consolidated financials are prepared in accordance with accounting principles generally accepted in the United States of America.