Recently, Jinko Power Technology Co., Ltd. (“Jinko Power,” stock code: 601778) successfully issued rural revitalization carbon neutral green corporate bonds (series 1) on the Shanghai Stock Exchange (“SSE”) (the “Offering”). The Offering aims to raise RMB 500 million. The bonds have a term of two years and a 5 % coupon rate.

Jinko Power is a leading clean energy supplier and service provider. It aims to change the energy structure and “take responsibility for the future”; it is also actively responding to the “Belt and Road” initiative. Jinko Power is engaged in three major sectors: power plant development, power plant services, and energy services. These sectors cover Photovoltaic (PV) power plant operation, PV power plant asset transfer transactions and Engineering Procurement and Construction (EPC), covering investment, development, operation and management. Jinko Power is also involved in the transfer of solar PV power plants, PV power plant EPC and power plant comprehensive service solutions. PV power plant operation has been the core business of Jinko Power since its inception, and it ranks number one in that industry.

The Offering was led by CSC Financial Co., Ltd. as the lead underwriter, and jointly underwritten by China Securities Finance Corp. This is the first credit protected contract offered on the SSE with a credit line of RMB100 million for rural revitalization carbon neutral green corporate bonds. As the first ever successful bond issuance by a private enterprise under the whole chain service mode, the Offering has been selected as the first pilot project of private enterprise bonds and will be promoted to the private enterprise bond market as a benchmark in the industry.

JunHe acted as Jinko Power’s counsel in the Offering and has provided legal services to the company for many of its other major projects, including its IPO on the SSE Main Board, its issuance of post-IPO convertible corporate bonds, and its previous issuance of corporate bonds in 2020 and 2021.

This project was led by partners YU, Yongqiang (YY) and CHEN, Guiyang, and internally reviewed by partner CHEN, Yi.