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Jan 13th, 2014
JinkoSolar announces agreement to take over assets of Zhejiang Topoint
JinkoSolar Holding Co., Ltd. ("JinkoSolar" or the "Company") (NYSE:JKS), a global leader in the solar PV industry, announced that it has reached an agreement to operate the restructured manufacturing assets of Zhejiang Topoint Photovoltaic Co., Ltd., Zhejiang Yutai Photovoltaic Material Co., Ltd., Zhejiang Weishida Photovoltaic Material Co., Ltd., and Zhejiang Jiutai New Energy Co., Ltd., collectively known as Topoint, beginning January 13, 2014.
The manufacturing assets of Topoint include 500 MW capacity for silicon wafers, 500 MW for PV cells, and 100 MW for PV modules.
JinkoSolar was invited by the bankruptcy administrator and the Haining City government to participate in Topoint's reorganization, in light of JinkoSolar's extensive operating experience, solid balance sheet and reputation for advanced technology. Pursuant to a leasing agreement entered into between the Company and the bankruptcy administrator, the Company will operate the manufacturing assets of Topoint starting from January 13, 2014 until the completion of the reorganization. After the reorganization, JinkoSolar plans to take ownership of Topoint and continue to operate the manufacturing assets.
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