On 29 September 2014, the Company has entered into a share subscription agreement (the "Jade Sino Subscription Agreement") with CDBIH and Jade Sino Ventures Limited ("Jade Sino"), pursuant to which the Company and CDBIH have agreed to subscribe for 11,904 and 13,096 ordinary shares of Jade Sino, representing approximately 23.81% and 26.19% of the enlarged issued share capital of Jade Sino respectively.
The principal asset of Jade Sino was the 13,404 preferred shares of JinkoSolar Power Engineering Group Limited ("JinkoSolar Power") out of the total 26,809 preferred shares subscribed on 11 August 2014 by CDBIH. Upon completion of the Jade Sino Subscription Agreement, Jade Sino applied the amount of US$52.5 million (equivalent to approximately HK$409.5 million) contributed by the Company and CDBIH to completing the subscription of the remaining 13,405 preferred shares of JinkoSolar Power. The subscription of the remaining 13,405 preferred shares of JinkoSolar Power by Jade Sino was completed on 13 November 2014.
After the restructuring of JinkoSolar Power in December 2016, Jade Sino directly holds 20% of the equity interests of Jiangxi JinkoSolar Power Engineering Co., Ltd. * ("Jiangxi JinkoSolar"), a company incorporated in the PRC with limited liabilities. Jiangxi JinkoSolar and its subsidiaries are principally engaged in developing, building and operating photovoltaic power stations in the PRC.
In 2017, the name of Jiangxi JinkoSolar was changed to Jinko Power Technology Co., Ltd. ("Jinko Power"). As at 30 June 2017, Jade Sino directly held approximately 16.29% of the equity interests of Jinko Power, a company incorporated in PRC with limited liabilities.
*English name is for identification purpose only.