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Jinko Solar Re-deliberates Related-Party Deal Agreements

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Jinko Solar (SHA:688223) lowered the estimated transaction amounts for related-party transactions with Jinko Power Technology, involving two rooftop solar projects and three energy-saving renovations at JinkoSolar factories.

The re-deliberation was due to industry competition and capacity utilization pressures, according to a Thursday filing with the Shanghai bourse.

The original 555.9 million yuan power purchase estimate was reduced to 300 million yuan, while energy-saving project fees fell to 15 million yuan from 37.3 million yuan, with two projects terminated.

Shares of the solar panel maker were down 5% Thursday.

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