BRIEF: JinkoSolar, Longi settle patent infringement lawsuits

Solar energy giants JinkoSolar Holdings Co. Ltd. (JKS.US; 688223.SH) and Longi Green Energy Technology Co. Ltd. (601012.SH) have settled several patent infringement lawsuits against each other with a new series of cross-licensing deals, PV Magazine reported on Friday, citing a joint statement from the companies.

The settlement comes after more than a year of litigation. It began after JinkoSolar acquired some related patents from South Korea’s LG Group in 2022, which it used to launch a wave of infringement allegations against Longi in China, Japan, Europe and Australia. Longi responded with its own wave of similar allegations against JinkoSolar in China and the U.S.

In their joint statement announcing the settlement, the two sides said they would “explore opportunities for deeper cooperation,” according to the report.

The settlement comes as both JinkoSolar and Longi continue to suffer from a yearlong price war in the solar energy sector. As that price war intensified, JinkoSolar reported its revenue fell 40% in the first quarter of this year, as it swung into the red with a 1.32 billion yuan ($186 million) loss. Similarly, Longi reported its revenue fell 15% in the first half of this year, while it reported a loss of 2.57 billion yuan for the period.

JinkoSolar’s New York-listed shares rose 3.5% on Friday. Longi’s Shanghai-listed shares rose 0.5% on Friday, but gave back those gains on Monday and closed down 1.8%.

By Doug Young

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