Jinko Power Technology (SHA:601778) decided to dissolve a 500 million yuan partnership fund after the investment targets were not finalized, according to a Wednesday filing on the Shanghai bourse.
The Chinese solar panel manufacturer, through its subsidiaries, initially planned to establish the Tangshan New Energy Storage Industry Development Equity Investment Fund Partnership (Limited Partnership) with Shanghai Guosheng Capital Management.
The company was supposed to invest 499.9 million yuan into the fund, accounting for 99.98% of the initial fundraising amount.
Jinko's shares dropped less than 2% during midday.
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