| 证券代码：601778 | 证券简称：晶科科技 | 公告编号：2025-063 | | --- | --- | --- | | 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 证券停复牌情况：适用 因回售期间可转债停止转股，本公司的相关证券停复牌情况如下： | 证券代码 | 证券简称 | 停复牌类型 | 停牌起始日 | 停牌 | 停牌终止 | 复牌日 | | --- | --- | --- | --- | --- | --- | --- | | | | | | 期间 | 日 | | | 113048 | 晶科转债 | 可转债转股停牌 | 2025/6/17 | | 2025/6/23 | 2025/6/24 | 晶科电力科技股份有限公司（以下简称"公司"）的股票自2025年4月23日至2025 年6月9日连续30个交易日的收盘价格低于公司"晶科转债"当期转股价格的70% （3.67元/股）。根据公司《公开发行可转换公司债券募集说明书》（以下简称"《募 重要内容提示： "晶科转债"持有人可回售部分或全部未转股的可转换公司债券。"晶科转债" 持有人有权选择是否进行回售，本次回 ...

| 证券代码：601778 | 证券简称：晶科科技 | 公告编号：2025-062 | | --- | --- | --- | | 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 1 / 2 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。 重要内容提示: 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 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，晶科电力科技股份有 限公司（以下简称"公司"或"本公司"）于2021年4月23日公开发行了3,000万 张可转换公司债券，每张面值人民币100元，发行总额为人民币30亿元，期限6 年。票面利率为：第一年0.30%、第二年0.50%、第三年1.00%、第四年1.50%、 第五年1.80%、第六年2.00%。 经上海证券交易所自律监管决定书〔2021〕209号文同意，公司本次发行的 30亿元可转换公司债券于2021年5月31日起在上海证券交易所上市交易，债券简 ...

Core Insights - The decline in electricity prices is significantly impacting the investment value of photovoltaic (PV) power stations, leading to a situation where these assets are becoming undesirable and are being sold off at low prices [1][8][9] - The value of the PV manufacturing industry is closely tied to the asset value of PV power stations, which is primarily determined by electricity prices rather than hardware costs [1][5] - Recent market trends indicate a drastic drop in electricity prices across various regions, with some areas experiencing prices as low as 0.03 yuan/kWh, which undermines the profitability of PV investments [2][3][5] Summary by Sections Investment Value of PV Power Stations - The investment value of PV power stations is deteriorating due to falling electricity prices, leading to many stations being viewed as low-efficiency or "garbage" assets [1][9] - The market is witnessing a trend where private enterprises are selling off their PV power stations, not due to strategic business models but because of increasing uncertainty in investment returns [1][8] Electricity Price Trends - In November 2024, the average electricity price for PV in Shandong dropped to 0.03 yuan/kWh, while in Shanxi, it was 0.18 yuan/kWh, indicating a downward trend compared to previous years [2][3] - Gansu province's new pricing policies have led to a significant reduction in the comprehensive electricity price for PV projects, dropping from around 0.25-0.28 yuan/kWh in 2023 to an expected 0.2 yuan/kWh in 2024 [5][6] Market Dynamics and Policy Implications - The current market dynamics are characterized by intense competition and a lack of stable policy frameworks, which are contributing to the low electricity prices [7][9] - The introduction of market-oriented trading and pricing policies is creating uncertainty for investors, as seen in the case of Jinko Energy's decision to sell its PV assets to mitigate risks associated with price fluctuations [8][9] Future Outlook - The industry is calling for more stable and predictable policies to enhance investor confidence and ensure the sustainable development of the PV sector [7][10] - The relationship between production capacity and market mechanisms needs to be improved to foster innovation and efficiency in the renewable energy sector [10]

Core Insights - The implementation of the document 136 is reshaping the industry ecosystem, marking the beginning of a new era where renewable energy fully participates in market-oriented electricity trading [2][4] - The transition from "mechanism-driven" to "market-driven" electricity trading is underway, with AI and data analysis becoming essential for companies to navigate the new market dynamics [5][6] Industry Trends - The market for electricity trading consulting and management services has seen explosive growth, with some companies reporting a fourfold increase in consulting inquiries and a doubling of order volumes compared to the previous year [1][3] - The demand for skilled electricity trading professionals is rising sharply, as companies require strong data analysis capabilities and insights into industry policies to make informed trading decisions [2][4] Company Developments - Companies are increasingly seeking partnerships with professional electricity trading service providers to enhance their trading strategies and improve the profitability of their electricity assets [2][3] - AI technologies are being integrated into every aspect of electricity trading, from load forecasting to pricing analysis, significantly improving decision-making processes [6][7] Market Dynamics - The proportion of renewable energy entering the market is continuously increasing, which raises the bar for investment returns and operational quality for renewable energy companies [2][4] - The establishment of provincial-level spot markets is accelerating, with several provinces already in formal operation, indicating a broader shift towards market-based trading systems [4][5] Future Outlook - Companies are focusing on building core competencies in the refined operation of renewable energy assets and exploring investment opportunities in emerging sectors such as AI-driven energy solutions and virtual power plants [5][6] - The future of revenue assessment for renewable energy projects will be restructured due to price volatility, necessitating enhanced trading and operational capabilities [6][7]

证券代码：601778 证券简称：晶科科技 公告编号：2025-061 1、本次延长股份质押期限基本情况 晶科集团本次延长了质押给国泰海通证券股份有限公司（以下简称"国泰海 通"）部分股份的质押期限，具体情况如下： 晶科电力科技股份有限公司 关于控股股东部分股份延长质押期限的公告 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。 重要内容提示: 截至本公告披露日，公司控股股东晶科集团持有本公司股份数量为 853,400,000 股，占公司总股本的 23.90%。本次延长部分股份质押期限后，晶科 集团累计质押公司股份数量保持不变，仍为 511,255,347 股，占其所持有公司股 份总额的 59.91%，占公司总股本的 14.32%。 晶科电力科技股份有限公司（以下简称"公司"或"本公司"）于2025年6月6日 接到公司控股股东晶科新能源集团有限公司（以下简称"晶科集团"）的通知，获 悉其将持有的部分本公司股份办理了延长质押期限手续。具体情况如下： 一、本次延长股份质押期限的具体情况 4、截至目前，晶科集团资信状况良好，不存在被强 ...

Core Viewpoint - The recent surge in the power sector, particularly in green electricity direct connection projects, is driven by a new policy aimed at enhancing the consumption of renewable energy and reducing costs for users [1][2]. Group 1: Market Reaction - On June 5, multiple sectors within the power industry experienced significant gains, with South Grid-related stocks rising by 4.52% and virtual power plant stocks increasing by 3.26% [1]. - Notable individual stock performances included South Grid Energy (003035.SZ) hitting the daily limit and Xiexin Energy Technology (002015.SZ) rising by 3.86% [1]. Group 2: Policy Implications - The "Notice" issued by the National Development and Reform Commission and the National Energy Administration on May 30 promotes green electricity direct connection, allowing renewable energy sources to supply electricity directly to users without going through the public grid [1][2]. - This policy shifts the responsibility of green electricity consumption from the grid to the energy users, encouraging enterprises to take on social responsibilities and economic costs associated with green energy [2]. Group 3: Project Specifications - The "Notice" outlines that for grid-connected projects, at least 60% of the annual self-generated electricity must be used by the project, with a minimum of 30% of total electricity consumption coming from self-generated sources [3]. - By 2030, the self-generated electricity ratio is expected to increase to no less than 35%, while the proportion of electricity fed back into the grid should not exceed 20% [3]. Group 4: Industry Adaptation - Companies like Jinko Technology (601778.SH) are focusing on integrated solutions for renewable energy stations and exploring new models for green electricity direct connection, particularly in high-load areas such as industrial parks and data centers [3]. - Jiuzhou Group (300040.SZ) indicated that green electricity trading positively impacts the revenue of grid-parity renewable energy projects, reflecting a broader industry trend towards adapting to the new policy [3].

Group 1 - The core viewpoint highlights the significant growth of the green power ETF, with a trading volume of 6.1863 million yuan and a 1.81% turnover rate, indicating strong market interest [1] - Over the past three months, the green power ETF has seen an increase in scale by 68.9715 million yuan, ranking first among comparable funds [1] - The ETF's share count has grown by 49.2 million shares in the last three months, also leading among comparable funds [1] Group 2 - The current price-to-earnings ratio (PE-TTM) of the index tracked by the green power ETF is 18.67, which is below 85.57% of the historical data over the past three years, indicating a low valuation [1] - The top ten weighted stocks in the index account for 58.12% of the total, with major companies including Changjiang Electric Power and China Nuclear Power [1] - Recent government initiatives aim to enhance the electricity service environment, promoting energy efficiency and the use of green electricity, which may benefit companies in the sector [1] Group 3 - In 2024, multiple policies are expected to create a stable market environment for renewable energy operators, leading to a stabilization in the industry [2] - The upcoming national energy work conference in 2025 is anticipated to further integrate renewable energy into the electricity market [2] - The market has likely priced in expectations for electricity volume and pricing in the renewable energy sector, with potential positive changes from green certificates and subsidies [2]

| 证券代码：601778 | 证券简称：晶科科技 | 公告编号：2025-060 | | --- | --- | --- | | 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 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，晶科电力科技股份 有限公司（以下简称"公司"或"本公司"）于2021年4月23日公开发行了3,000万张 可转换公司债券，每张面值人民币100元，发行总额为人民币30亿元，期限6年。 票面利率为：第一年0.30%、第二年0.50%、第三年1.00%、第四年1.50%、第五 年1.80%、第六年2.00%。 经上海证券交易所自律监管决定书〔2021〕209号文同意，公司本次发行的 30亿元可转换公司债券于2021年5月31日起在上 ...

Core Viewpoint - Jinko Power Technology Co., Ltd. is providing guarantees for its wholly-owned subsidiaries to secure financing from financial institutions, with a total guarantee amount exceeding RMB 1.66 billion, which is within the approved limit from the shareholders' meeting [1][3][5]. Group 1: Financing Guarantees - Jinko's subsidiary, Haining Jincan Photovoltaic Power Generation Co., Ltd., is applying for a fixed asset loan of RMB 7 million from China Merchants Bank, with a 10-year term, and the company will provide a joint liability guarantee [1]. - Another subsidiary, Dezhou Huayuan Photovoltaic Power Co., Ltd., is seeking RMB 6.2907 million for a financing lease from Changjiang United Financial Leasing Co., Ltd., with a 10-year term, and the company will also provide a joint liability guarantee [1]. - Jinko Greenfield Spain 11, S.L. has applied for two bank guarantees totaling EUR 1.62 million and EUR 3.48 million, with a 5-year term, and the company will provide a joint liability guarantee through its subsidiary Jinko Power Energy Holding, S.L.U. [1][2]. Group 2: Guarantee Amounts and Limits - The company has approved a new guarantee limit of RMB 16.6 billion for the fiscal year, which includes existing guarantees and is valid for 12 months from the shareholders' meeting held on January 23, 2025 [3][4]. - The total amount of guarantees provided recently is capped at RMB 463.837 million, with the total outstanding guarantees amounting to RMB 1.4327631 billion as of the announcement date [5][6]. - The company has a total external guarantee balance of RMB 2.15347413 billion, which exceeds 135.66% of the latest audited net assets [6][7]. Group 3: Decision-Making Process - The decision to provide guarantees was approved during the shareholders' meeting, ensuring compliance with legal and regulatory requirements [3][6]. - The board of directors has assessed the risks associated with the guarantees and believes they are manageable and do not harm the interests of minority shareholders [6][7].

证券代码：601778 证券简称：晶科科技 公告编号：2025-059 晶科电力科技股份有限公司 关于提供担保的进展公告 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。 重要内容提示: 一、年度担保计划进展情况 （一）进展情况概述 （2）公司全资下属公司德州华源光伏电力有限公司（以下简称"德州华源"） 向长江联合金融租赁有限公司申请本金为人民币 629.07 万元的融资租赁业务， 融资期限为 10 年，公司为上述融资提供连带责任保证担保，同时以德州华源 100%股权为上述融资提供质押担保，担保协议已签署。 （3）公司全资下属公司 Jinko Greenfield Spain 11, S.L（. 以下简称"Greenfield 11"）和 Jinko Greenfield Spain 12, S.L.（以下简称"Greenfield 12"）分别向西班 牙保险公司 Get Involved, S.L.申请开立金额为 162.00 万欧元和 348.00 万欧元的 并网保函，保函期限均为 5 年，公司全资下属公司 Jinko Po ...