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Following JinkoSolar’s projected net loss of up to 1.05 billion yuan, its ADR price declined by 9.77%, prompting legal scrutiny. Image Credit/Source: Sora Shimazaki/Pexels
Pomerantz LLP, a US-based law firm, is investigating potential securities fraud claims against JinkoSolar Holding Co., Ltd., headquartered in China. The investigation aims to determine whether JinkoSolar and its executives engaged in securities fraud or other unlawful business practices. On January 17, 2025, JinkoSolar released its preliminary unaudited financial results for 2024, estimating net income between 80 million and 120 million yuan ($10.92 million to $16.37 million), reflecting a decline exceeding 98%. The company also expects a full-year unaudited net loss attributable to shareholders, excluding non-recurring gains and losses, between 750 million and 1.05 billion yuan, a decline of 100.8% to 115.2%. Following the announcement, JinkoSolar’s ADR price dropped by $2.30 per share (9.77%), closing at $21.24. Pomerantz LLP is reviewing JinkoSolar’s financial disclosures and executive actions for potential legal violations but has not announced any request for a lead plaintiff.