NEW YORK, Jan. 21, 2025 -- Pomerantz LLP is investigating claims on behalf of investors of JinkoSolar Holding Co., Ltd. ("JinkoSolar" or the "Company") (NYSE: JKS). Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, ext. 7980.
The investigation concerns whether JinkoSolar and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On January 17, 2025, JinkoSolar issued a press release reporting "estimates for certain preliminary unaudited financial results" for 2024 for "its majority-owned principal operating subsidiary, Jinko Solar Co., Ltd." Among other items, JinkoSolar estimated 2024 net income in the range of 80 million yuan to 120 million yuan ($10.92 million to $16.37 million), equating to a decline of more than 98%. JinkoSolar also expects to report full-year preliminary unaudited net loss attributable to shareholders excluding extraordinary gains and losses in the range of 750 million yuan to 1.05 billion yuan, representing a decrease of 100.8% to 115.2%
On this news, JinkoSolar's American depositary receipt ("ADR") price fell $2.30 per ADR, or 9.77%, to close at $21.24 per ADR on January 17, 2025.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered billions of dollars in damages awards on behalf of class members. See www.pomlaw.com.
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CONTACT:
Danielle Peyton
Pomerantz LLP
dpeyton@pomlaw.com
646-581-9980 ext. 7980
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