JinkoSolar's stock plummeted by 14.77% on Monday after U.S. solar panel maker First Solar alleged that several of its rivals, including JinkoSolar, are infringing on its patents related to a leading solar technology.
First Solar, through its attorneys, has sent legal notices to Canadian Solar, JA Solar, Longi, JinkoSolar, and Trina Solar, alleging that these companies are violating its patents. The allegations were disclosed by First Solar during a conference call with analysts on Tuesday.
The patent infringement claims against JinkoSolar and other solar panel manufacturers have raised concerns among investors about potential legal disputes and associated costs. While the specifics of the allegations are not yet clear, any adverse rulings or settlements could negatively impact JinkoSolar's operations and financial performance.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.