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What Is Driving JinkoSolar Holding?

Shares of JinkoSolar Holding Co., Ltd. (JKS) are gaining over 5% on Monday morning after the company announced plans to invest RMB315 million in Inner Mongolia Xinte Silicon Materials Co., Ltd.

JKS is currently trading at $41.41, up $2.06 or 5.24%, on the NYSE. The stock has traded between $15.27 and $90.20 in the 52-week period.

JinkoSolar, announced its holding subsidiary, Shangrao JinkoSolar Industry Development Co., Ltd. plans to invest RMB315 million of monetary capital to increase capital and shares in Inner Mongolia Xinte Silicon Materials, a wholly-owned subsidiary of Xinte Energy Co., Ltd.

The investment will be used for the construction of a polysilicon production line with an annual capacity of 100,000 tons. After the capital increase is completed, the company will hold a 9.00% stake in Inner Mongolia Xinte.

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