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The filed complaint alleges that JinkoSolar Holding Co., Ltd. made materially false and/or misleading statements and/or failed to disclose that: JinkoSolar issued a press release on January 17, 2025, reporting "estimates for certain preliminary unaudited financial results" for 2024 for "its majority-owned principal operating subsidiary, Jinko Solar Co., Ltd." Among other items, JinkoSolar estimated 2024 net income in the range of 80 million yuan to 120 million yuan ($10.92 million to $16.37 million), equating to a decline of more than 98%. JinkoSolar also expects to report full-year preliminary unaudited net loss attributable to shareholders excluding extraordinary gains and losses in the range of 750 million yuan to 1.05 billion yuan, representing a decrease of 100.8% to 115.2%. Following this news, JinkoSolar's American depositary receipt ("ADR") price fell over 9% on the same day.
In order to be eligible to join the JKS class action lawsuit, you must have incurred a loss on shares of JinkoSolar Holding Co., Ltd. purchased during the class period listed above.
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