repurchased in the aggregate amount of 785,900 American Depositary Shares ("ADSs"), representing 3,143,600 of its ordinary shares since the beginning of the share repurchase program that was approved by the board of directors on May 6, 2011. The average repurchase price, excluding commissions, was US$6.92 per ADS, and the total purchase price, excluding commissions, was US$5,435,661.
Under the stock repurchase program, JinkoSolar is authorized to repurchase up to US$30 million of its ordinary shares represented by ADSs, from time to time, in open-market transactions within the 12 months following May 6, 2011
So they still have about $25M for the approved buy back program. Debt = 616M, Book Value per sh = $21, pps range was $41.75 - 4.55, ttm eps = $7.70, ttm sales = $1,190M or $51 per share, Market cap = $118M, cash on hand = $135M, float = 11M out of 24M outstanding before buyback, short = 6M, float could become about 6M = short after buyback, i.e., 100% float shorted. Sounds good metrics for big jump once solar bottoms out which could be seen soon (note stock market is supposed to be a leading indicator, thus lead the move up before supply becomes actually less than demand). Current oversupply may become balanced in three to six months, bottom should not be too far off.
This is good news. It means that Jinko has the cash flow to be able to do this which means they must be doing well (assuming they are not taking on additional debt to finance this). Even if it's not affecting the share price, this news should be comforting to all JKS longs.
Meaning almost $25 million is still available for purchase. The purchase price $6.92 means it just started the bulk of purchase in recent two weeks.
That's good news for holders. Though slow, but I think it will finish the purchasing. 5 million shares ($25 mil / $5) is a big percentage of float.