In a significant move in the solar energy sector, JinkoSolar (688223.SH), the world's leading integrated solar company, announced on October 20 its intention to list on the Frankfurt Stock Exchange through the issuance of a Global Depositary Receipt (GDR). If approved, it would become the first company from the Sci-Tech Innovation Board to enter the German capital market via GDRs, potentially
In a significant move in the solar energy sector, JinkoSolar (688223.SH), the world's leading integrated solar company, announced on October 20 its intention to list on the Frankfurt Stock Exchange through the issuance of a Global Depositary Receipt (GDR). If approved, it would become the first company from the Sci-Tech Innovation Board to enter the German capital market via GDRs, potentially strengthening Sino-European cooperation in sustainable finance and carbon neutrality.
JinkoSolar, one of China's "new three samples" for exports, has demonstrated remarkable success in overseas expansion within the solar industry. According to its 2024 semi-annual report, overseas sales account for 65% of its total revenue, and among leading solar firms, over 70% of income comes from overseas. The company also has the largest integrated production capacity abroad in the industry and thousands of international employees. It adheres to global standards in research and development, branding, and ESG.
This step towards an overseas listing reflects JinkoSolar's enhanced globalization capabilities. The implementation of this fundraising project will boost local manufacturing capacity in key global markets, facilitating local production and consumption. Once completed, its U.S. project for high-efficiency components will increase Jinko's total component capacity there to 3GW. Amidst strong demand for clean energy driven by advancements in AI, this strategy enables stable shipments at premium prices while better navigating trade policy uncertainties, thereby improving profitability.
Germany is Europe's largest single solar market. In April 2024, JinkoSolar delivered over 1.1 million new N-type modules to The Witznitz Solar Park, one of Germany's largest solar plants. The Frankfurt Stock Exchange is Europe's second-largest stock exchange. A successful listing would further enhance JinkoSolar's visibility in Germany and Europe and promote positive growth in its overseas business and financing channels.