JinkoSolar (JKS) was attacked by Bonitas Research in March 2020 alleging fraud. The company produced a short denial without addressing any of the issues raised. After a halving of its share price, JKS announced a US$100m share buyback programme. Since then, its share price has gone on to record highs. In early 2021, there were a series of management resignations but it is not clear if this is due to rotation within the group or dissatisfaction. The company has since produced its FY20 financial statements which were signed-off by auditors PricewaterhouseCoopers Zhong Tian. As such, the allegations remain unproven. 

Last updated September 2021

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