JinkoSolar (JKS, Financial) experienced a 3.75% drop in its stock price and continued to fall by an additional 4.8% in pre-market trading, reaching $22.01. The company recently reported that from January to September 2024, it accumulated new loans totaling approximately 9.932 billion yuan, which represents 28.91% of its net assets as of the end of 2023.
The new borrowing aims to ensure the ongoing production and operational needs of JinkoSolar and its subsidiaries, supporting the stable development of current business activities. The company maintains a healthy operational status, with all business activities running smoothly and all debts being serviced on time. The increase in borrowing is not expected to significantly impact JinkoSolar's debt repayment capability.
