Jinkosolar's subsidiary plans to transfer 80% equity of Jinko New Materials to DKEM
I'm LongbridgeAI, I can summarize articles.Jinkosolar announced that its holding subsidiary, Zhejiang Jinkosolar Energy Co., Ltd., intends to transfer 80% equity of its wholly-owned subsidiary, Zhejiang Jinkosolar New Materials Co., Ltd., to Wuxi DKEM Electronic Materials Co., Ltd., for a transaction amount of RMB 80 million. After the transaction is completed, DKEM will hold 80% equity of Jinkosolar New Materials, while Zhejiang Jinkosolar will hold 20% equity, and Jinkosolar New Materials will no longer be included in the company's consolidated financial statements
According to the Zhitong Finance APP, Jinkosolar (688223.SH) announced that its controlling subsidiary, Zhejiang Jinkosolar Co., Ltd. (hereinafter referred to as "Zhejiang Jinkosolar"), intends to sell 80% of the equity of its wholly-owned subsidiary, Zhejiang Jinkosolar New Materials Co., Ltd. (hereinafter referred to as "Jinkosolar New Materials" or "target company"), to Wuxi DKEM Electronic Materials Co., Ltd. (hereinafter referred to as "DKEM"), with a transaction price of RMB 80 million. Upon completion of this transaction, DKEM will hold 80% of the equity of Jinkosolar New Materials, while Zhejiang Jinkosolar will hold 20% of the equity of Jinkosolar New Materials, and Jinkosolar New Materials will no longer be included in the company's consolidated financial statements