ADDITIONAL INFORMATION-CONDENSED FINANCIAL STATEMENTS OF THE PARENT COMPANY (Tables)
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12 Months Ended |
Dec. 31, 2025 |
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| ADDITIONAL INFORMATION - CONDENSED FINANCIAL STATEMENTS OF THE PARENT COMPANY |
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| Schedule of condensed statements of operations |
| | | | | | | | | | | For the year ended December 31 | | | 2023 | | 2024 | | 2025 | | | RMB | | RMB | | RMB | | USD | | | | | | | | | (note 2 (ak)) | | | (RMB in thousands) | Net revenue | | — | | — | | — | | — | Cost of revenues | | — | | — | | — | | — | | | | | | | | | | Gross profit | | — | | — | | — | | — | | | | | | | | | | Total operating expenses | | (590,323) | | (324,964) | | (203,692) | | (29,128) | | | | | | | | | | Loss from operations | | (590,323) | | (324,964) | | (203,692) | | (29,128) | | | | | | | | | | Share of income from subsidiaries and affiliates | | 4,055,054 | | 93,252 | | (4,165,946) | | (595,723) | | | | | | | | | | Interest expenses | | (19,962) | | (25,511) | | (5,041) | | (721) | Interest income | | 23,376 | | 15,203 | | 4,886 | | 699 | Exchange gain/(loss) | | 10,831 | | (26,914) | | (6,007) | | (859) | Change in fair value of convertible senior notes | | (31,188) | | 323,474 | | — | | — | Income before income taxes | | 3,447,788 | | 54,540 | | (4,375,800) | | (625,732) | Income tax expenses | | (345) | | — | | (134) | | (19) | Net income attributable to JinkoSolar Holding Co., Ltd.’s ordinary shareholders | | 3,447,443 | | 54,540 | | (4,375,934) | | (625,751) |
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| Schedule of condensed balance sheets |
| | | | | | | | | December 31, 2024 | | December 31, 2025 | | | RMB | | RMB | | USD | | | | | | | (note 2 (ak)) | | | (RMB in thousands) | ASSETS | | | | | | | Current assets: | | | | | | | Cash and cash equivalent | | 124,313 | | 96,771 | | 13,838 | Due from subsidiaries | | 358,722 | | 130,028 | | 18,593 | Other current assets | | 2,049 | | 2,020 | | 289 | Total current assets | | 485,084 | | 228,819 | | 32,720 | Investments in subsidiaries | | 19,608,702 | | 15,625,438 | | 2,234,408 | Total assets | | 20,093,786 | | 15,854,257 | | 2,267,128 | | | | | | | | LIABILITIES AND SHAREHOLDERS’ EQUITY | | | | | | | Current liabilities: | | | | | | | Due to subsidiaries | | 26,214 | | 26,674 | | 3,814 | Short-term borrowings | | 162,140 | | — | | — | Convertible senior notes | | — | | — | | — | Other current liabilities | | 6,523 | | 3,065 | | 438 | Total current liabilities | | 194,877 | | 29,739 | | 4,252 | | | | | | | | Shareholders’ equity: | | | | | | | Ordinary shares (US$0.00002 par value, 500,000,000 shares authorized, 211,083,301 and 209,551,893 shares issued as of December 31, 2024 and December 31, 2025, respectively) | | 29 | | 29 | | 4 | Additional paid-in capital | | 11,245,665 | | 11,834,567 | | 1,692,321 | Accumulated other comprehensive loss | | 225,141 | | 212,071 | | 30,326 | Treasury stock, at cost; 5,574,244 and 122,540 ordinary shares as of December 31, 2024 and December 31, 2025 | | (216,507) | | (3,970) | | (568) | Retained earnings | | 8,644,581 | | 3,781,821 | | 540,793 | Total shareholders’ equity | | 19,898,909 | | 15,824,518 | | 2,262,876 | | | | | | | | Total liabilities and shareholders’ equity | | 20,093,786 | | 15,854,257 | | 2,267,128 |
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| Schedule of condensed cash flows |
| | | | | | | | | | | For the year ended December 31, | | | 2023 | | 2024 | | 2025 | | | RMB | | RMB | | RMB | | USD | | | | | | | | | (note 2 (ak)) | | | (RMB in thousands) | Cash flows from operating activities: | | | | | | | | | Net income | | 3,447,443 | | 54,540 | | (4,375,934) | | (625,751) | Adjustments to reconcile net income to net cash used in operating activities: | | | | | | | | | Share based compensation charges | | 582,596 | | 319,452 | | 198,120 | | 28,331 | Change in fair value of convertible senior notes | | 31,188 | | (323,474) | | — | | — | Share of income from subsidiaries | | (4,055,054) | | (93,252) | | 4,165,946 | | 595,723 | Exchange (gain)/loss | | (10,831) | | 26,914 | | 6,007 | | 859 | Changes in operating assets and liabilities: | | | | | | | | | Decrease in due from subsidiaries | | (206,412) | | — | | — | | — | Decrease in due from a related party | | 3,454 | | — | | — | | — | (Increase)/decrease in other current assets | | 34 | | — | | 31 | | 5 | Increase/(Decrease) in due to subsidiaries | | 25,829 | | (412) | | — | | — | Increase/(decrease) in other current liabilities | | (460) | | 10 | | (3,462) | | (496) | Net cash used in operating activities | | (182,213) | | (16,222) | | (9,292) | | (1,329) | | | | | | | | | | Cash flows from investing activities: | | | | | | | | | Cash collection for loans from subsidiaries | | 553,984 | | 633,977 | | 370,108 | | 52,925 | Cash paid for loans to subsidiaries | | — | | — | | (7,087) | | (1,013) | Net cash used in investing activities | | 553,984 | | 633,977 | | 363,021 | | 51,912 | | | | | | | | | | Cash flows from financing activities: | | | | | | | | | Proceeds from exercise of share options | | — | | 3,691 | | — | | — | Repurchase of shares | | (79,282) | | (874,964) | | (3,970) | | (568) | Repayments of borrowing | | — | | (543,675) | | (162,140) | | (23,186) | Proceeds from bank borrowings | | 179,425 | | 526,390 | | — | | — | Dividend distribution | | (559,599) | | (547,686) | | (486,826) | | (69,615) | Dividends received from a subsidiary (offset with loans to the subsidiary) | | — | | 550,880 | | 277,000 | | 39,610 | Net cash provided by/(used in) financing activities | | (459,456) | | (885,364) | | (375,936) | | (53,759) | | | | | | | | | | Effect of foreign exchange rate changes on cash and cash equivalents | | 9,934 | | (22,767) | | (5,337) | | (762) | | | | | | | | | | Net decrease in cash and cash equivalents | | (77,751) | | (290,376) | | (27,542) | | (3,938) | Cash and cash equivalents, beginning of year | | 492,440 | | 414,689 | | 124,313 | | 17,776 | Cash and cash equivalents, end of year | | 414,689 | | 124,313 | | 96,771 | | 13,838 | | | | | | | | | | Supplemental disclosure of non-cash investing and financing cash flow information | | | | | | | | | Conversion of convertible senior notes to ordinary shares | | 247,290 | | 465,167 | | — | | — | Offset of dividend receivable with loans to a subsidiary | | — | | 610,000 | | — | | — |
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