JinkoSolar has revealed that it plans to sell a 49% stake in its wholly owned Jinko Energy Storage subsidiary to Haining Xinchao. The investment firm has reportedly agreed to pay CNY 1.5 billion ($209 million) to acquire the stake in Jinko Energy Storage.
Sungrow said it plans to spin off Sungrow New Energy so it can list its shares on a stock exchange in China. Sungrow New Energy generated CNY 11.6 billion of revenue and a profit of CNY 1.37 billion in 2022. In the first half of this year, it recorded CNY 7.56 billion of revenue and a profit of CNY 870 million.
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