Summary by Futu AI
JinkoSolar announced the repurchase of 4,503,178 ADSs for approximately $110.7 million under its share repurchase program. The program, initially announced in July 2022, was extended in December 2023 for an additional 18 months through June 30, 2025. As of the announcement date, about $89.3 million remains unutilized under the extended program.The company may continue repurchasing ADSs through various means, subject to market conditions and applicable regulations. The timing and conditions of share repurchases will depend on factors including Rule 10b-18 and Rule 10b5-1 requirements, as well as the company's insider trading policy.JinkoSolar, a leading global solar module manufacturer, operates 14 production facilities worldwide and has 26 overseas subsidiaries. The company serves utility-scale, commercial, and residential customers across various international markets, with a global sales network spanning multiple countries and regions.