Core Viewpoint - JinkoSolar's stock price closed at 3.11 yuan on August 4, experiencing a decline of 0.06 yuan, or 1.89% from the previous trading day [1] Group 1: Company Overview - JinkoSolar's main business includes investment and operation of photovoltaic power plants, as well as services related to photovoltaic power generation, energy storage, and electricity sales [1] - The company's primary source of revenue comes from the development and operation of photovoltaic power plants, with projects spanning multiple provinces across the country [1] Group 2: Financial Performance - On August 4, the trading volume was 973,421 hands, with a total transaction amount of 303 million yuan [1] - The net outflow of main funds on August 4 was 74.02 million yuan, accounting for 0.67% of the circulating market value [1] - Cumulatively, over the past five trading days, the net outflow reached 149 million yuan, representing 1.35% of the circulating market value [1] Group 3: Business Operations - On August 4, the company responded to investor inquiries regarding the accounting method for its electricity sales revenue for 2024, clarifying that the revenue from electricity sales only accounts for the difference between wholesale and retail electricity prices, and is included under photovoltaic power generation revenue [1]

（文章来源：每日经济新闻） 晶科科技（601778.SH）8月4日在投资者互动平台表示，公司售电业务营收只计算批零之间的差额部 分，而且售电业务是计入在"光伏发电业务"中，不在您提到的"其他"类目。 每经AI快讯，有投资者在投资者互动平台提问：根据您司2024年的年报，"售电业务方面， 公司2024年 签约客户4380户，签约电量 187亿度，交易电量139亿度。"，假设这个度电的交易售价是0.45元/千瓦 时，那么139亿度电对应的售电收入也有63亿元了，为什么公司年报显示"售电+运维+储能+VPP等"合计 收入才1300万元呢？ ...

| 证券代码：601778 | 证券简称：晶科科技 | 公告编号：2025-091 | | --- | --- | --- | | 转债代码：113048 | 转债简称：晶科转债 | | 晶科电力科技股份有限公司 关于"晶科转债"预计触发转股价格修正条件的 提示性公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 一、可转换公司债券基本情况 （一）可转换公司债券发行上市情况 1 / 3 因实施2023年年度权益分派，"晶科转债"的转股价格自2024年6月14日调整至 5.24元/股；因实施2024年年度权益分派，"晶科转债"的转股价格自2025年7月3 日调整至5.21元/股。截至本公告日，"晶科转债"的转股价格为5.21元/股。 二、关于"晶科转债"转股价格修正条款与可能触发情况 （一）转股价格修正条款 根据《募集说明书》的约定，"晶科转债"转股价格修正条款如下： 在本次发行的可转换公司债券存续期间，当公司股票在任意连续三十个交易 日中至少有十五个交易日的收盘价格低于当期转股价格的90%时，公司董事会有 权提出转股价格向下 ...

Summary of Key Points Core Viewpoint - JinkoSolar's stock price has declined, currently trading at 3.11 yuan, reflecting a drop of 1.89% as of the latest closing [1] Fundraising Activities - JinkoSolar was listed on the Shanghai Stock Exchange on May 19, 2020, with an initial public offering (IPO) of 59.45 million shares at a price of 4.37 yuan per share, raising a total of 2.598 billion yuan, with a net amount of 2.417 billion yuan after expenses [1] - The company planned to raise 2.500 billion yuan for various solar power projects and to repay bank loans, but the final net amount was 83.243 million yuan less than the original plan [1] - In 2021, JinkoSolar issued 30 million convertible bonds at a price of 100 yuan each, raising a total of 3 billion yuan, with a net amount of approximately 2.972 billion yuan after expenses [2] - In 2022, the company conducted a non-public offering of 676.50 million shares at a price of 4.43 yuan per share, raising a net amount of approximately 2.982 billion yuan [3] - The total amount raised from these three fundraising activities is approximately 8.595 billion yuan [4]

天眼查商业履历信息显示，晶科电力科技股份有限公司，成立于2011年，位于上饶市，是一家以从事电 力、热力生产和供应业为主的企业。企业注册资本357095.4622万人民币，实缴资本217090.9万人民币。 公司法定代表人为李仙德。 通过天眼查大数据分析，晶科电力科技股份有限公司共对外投资了32家企业，参与招投标项目354次， 知识产权方面有商标信息31条，专利信息24条，此外企业还拥有行政许可30个。 来源：金融界 金融界消息 截至2025年8月1日收盘，晶科科技（601778）报收于3.17元，下跌0.31%，换手率1.55%， 成交量55.22万手，成交金额1.76亿元。 资金流向方面，今日主力资金净流出2054.13万元，占比成交额11.69%。其中，超大单净流出1568.31万 元、占成交额8.92%，大单净流出485.82万元、占成交额2.76%，中单净流出流入2.37万元、占成交额 0.01%，小单净流入2051.76万元、占成交额11.68%。 晶科科技最新一期业绩显示，截至2025一季报，公司营业总收入11.12亿元、同比增长43.00%，归属净 利润3487.13万元，同比增长64.65% ...

Group 1 - The stock price of Jinko Technology closed at 3.18 yuan on July 31, 2025, down by 0.13 yuan, representing a decline of 3.93% from the previous trading day [1] - The trading volume on that day was 1,126,300 hands, with a total transaction value of 362 million yuan [1] - Jinko Technology's main business includes the development and operation of photovoltaic power plants and electricity sales, operating within the power sector [1] Group 2 - On July 31, 2025, the company disclosed that it had received multiple institutional research visits, including from E Fund, on July 1 [1] - During the research visit, the company stated that it has developed a market value management plan, which includes focusing on its core business, conducting share buybacks as appropriate, and increasing cash dividends [1] - Over the past year, the company has received a total of 214 institutional research visits, totaling 320 times [1] Group 3 - On July 31, 2025, the net outflow of main funds was 54.8553 million yuan, accounting for 0.48% of the circulating market value [1]

据此计算，晶科科技上述三次募集资金合计金额为85.95亿元。 晶科科技首次公开发行股票的发行费用总额为1.82亿元，其中，保荐和承销费用1.40亿元。 晶科科技2021年度公开发行可转换公司债券募集资金。经中国证券监督管理委员会《关于核准晶科电力 科技股份有限公司公开发行可转换公司债券的批复》(证监许可〔2021〕931号)核准，晶科科技于2021 年4月23日公开发行了3,000万张可转换公司债券，发行价格为每张100元，募集资金总额为人民币 3,000,000,000.00元，扣除各项发行费用后，实际募集资金净额为2,971,776,415.09元，上述款项已于2021 年4月29日全部到账。天健会计师事务所(特殊普通合伙)对晶科科技本次公开发行可转换公司债券的资 金到位情况进行了审验，并于2021年4月30日出具了"天健验〔2021〕191号"《验证报告》。晶科科技已 对上述募集资金进行了专户存储。 晶科科技2022年度非公开发行股票募集资金。经中国证券监督管理委员会《关于核准晶科电力科技股份 有限公司非公开发行股票的批复》(证监许可〔2022〕2963号)核准，晶科科技向特定投资者非公开发行 人民币普 ...

Group 1 - The stock price of JinkoSolar was reported at 3.31 yuan as of July 30, 2025, with a decline of 1.19% from the previous trading day [1] - The stock reached a high of 3.48 yuan and a low of 3.28 yuan during the trading session, with a volatility of 5.97% [1] - The trading volume for the day was 929,912 hands, with a total transaction value of 313 million yuan [1] Group 2 - JinkoSolar operates in the power industry, focusing on photovoltaic power station development, operation, and energy storage [1] - The company is primarily engaged in the green power market and is involved in energy storage-related businesses [1] - On July 30, the stock experienced a rapid decline of over 2% within the first five minutes of trading, followed by a period of consolidation [1] Group 3 - On July 30, the net inflow of main funds into JinkoSolar was 13.0958 million yuan, accounting for 0.11% of the circulating market value [1]

金融界消息 截至2025年7月30日收盘，晶科科技（601778）报收于3.31元，下跌1.19%，换手率2.6%， 成交量92.99万手，成交金额3.13亿元。 资金流向方面，今日主力资金净流入1309.58万元，占比成交额4.19%。其中，超大单净流入954.19万 元、占成交额3.05%，大单净流入355.39万元、占成交额1.14%，中单净流出流出973.24万元、占成交额 3.11%，小单净流出336.33万元、占成交额1.08%。 晶科科技最新一期业绩显示，截至2025一季报，公司营业总收入11.12亿元、同比增长43.00%，归属净 利润3487.13万元，同比增长64.65%，扣非净利润3355.54万元，同比增长62.90%，流动比率1.902、速动 比率1.530、资产负债率63.28%。 天眼查商业履历信息显示，晶科电力科技股份有限公司，成立于2011年，位于上饶市，是一家以从事电 力、热力生产和供应业为主的企业。企业注册资本357095.4622万人民币，实缴资本217090.9万人民币。 公司法定代表人为李仙德。 通过天眼查大数据分析，晶科电力科技股份有限公司共对外投资了32家企业， ...

Core Viewpoint - The core viewpoint emphasizes the need for the photovoltaic industry to overcome "involution" and establish a healthy ecosystem through five key recommendations [2][4]. Group 1: Recommendations for the Photovoltaic Industry - The first recommendation is to shift from competition to cooperation, enhancing industry self-discipline. It is crucial to distinguish between "good competition" that creates value and "bad competition" that destroys it [5][6][11]. - The second recommendation is to move from fragmentation to consolidation, increasing industry concentration. The ability to integrate resources is more important than merely creating them [15][16][19]. - The third recommendation is to transition from reducing output to reducing capacity, addressing both symptoms and root causes. The current global photovoltaic module capacity is 1200 GW, while annual usage is only 600 GW, necessitating output reduction [22][23][30]. - The fourth recommendation is to shift from quantity-based profit to price-based profit, emphasizing the importance of pricing strategies over mere sales volume [31][32][40]. - The fifth recommendation is to move from a "red ocean" to a "blue ocean" through innovation, categorized into four aspects: differentiation, segmentation, high-end positioning, and branding [41][42][45]. Group 2: Industry Insights and Examples - The experience from the electrolytic aluminum industry, which successfully established a production ceiling of 45 million tons, serves as a valuable reference for the photovoltaic sector [12][13][14]. - The Japanese cement industry restructured from 23 companies to 3, maintaining stable prices despite stagnant sales, illustrating the benefits of consolidation [18][19]. - The implementation of peak-shaving production in the cement industry led to significant profit increases, demonstrating the effectiveness of capacity management [28][30].