JKS - JinkoSolar's Sichuan plants shut by power rationing

JinkoSolar ( NYSE: JKS ) -2.8% pre-market after saying on Monday its Sichuan manufacturing facilities have been shut down temporarily by power rationing measures to ease electricity shortages in the Chinese province.

The company said it is uncertain how long the power rationing measures will persist and when its Sichuan factories can resume full production.

Factories in Sichuan that make solar panels, processor chips, auto components and other industrial goods were required to shut down or reduce activity last week to conserve power for homes because of a record-breaking heatwave.

JinkoSolar will issue up to 10B yuan of convertible bonds through its China-listed subsidiary to help fund two major new projects announced earlier this year, Bamboo Works writes in an analysis published on Seeking Alpha .

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