Jinko Power Technology (SHA:601778) decided not to redeem early bonds worth 3 billion yuan despite the redemption option being triggered, according to a Shanghai bourse filing on Thursday.

The redemption clause would be triggered after the closing price of the company's stock is not lower than 130% of the conversion price and the remaining balance of unconverted bonds is less than 30 million yuan.

The initial conversion price of 6.75 yuan per share was lowered a number of times until it reached 4.50 yuan per share in September 2025.

The six-year convertible bonds were issued on April 23, 2021.

The solar panel manufacturer's shares jumped less than 4% at the close.