Company Announcements - Junsheng Electronics' subsidiary has recently secured a global automotive intelligence project with a total order value of approximately 15 billion yuan, expected to start mass production in 2027 [1] - Shangluo Electronics plans to acquire 88.79% of Ligon Technology for 700 million yuan, focusing on authorized distribution of storage chips and various IC products [2][3] - Xinda Zheng intends to purchase at least 51% of Jiaxin Liheng Facility Management (Shanghai) Co., Ltd., with the stock currently suspended [1] - Dingtong Technology plans to invest up to 15 million USD to establish a wholly-owned subsidiary in Vietnam for R&D and production of optical module liquid cooling products [1][3] - Kexing Pharmaceutical's shareholders are inquiring about transferring shares at an initial price of 30.88 yuan per share, which is a 28% discount compared to the closing price [4] - Zhongtai Automobile has been ordered to pay 29.5 million yuan plus overdue interest due to a court ruling, which may significantly impact its current or future performance [5] - Shoukai Co., Ltd. has seen a significant increase in shareholder numbers and some institutional shareholders have reduced their holdings [5] Investment and Contracts - Laofengxiang plans to jointly invest in establishing Laofengxiang Precision Materials Company to build a modern refining and testing laboratory [8] - Longci Technology intends to invest 210 million yuan in the second phase of its Vietnam project to localize the supply of permanent magnet ferrite raw materials [9] - Sileck has signed a 230 million yuan investment cooperation agreement for a new energy precision structural components project [10] Shareholding Changes - Jingchen Co. plans to acquire 316 million yuan for 100% of Chip Micro Semiconductor [6] - Beijing Junzheng has seen a reduction of 4.8254 million shares by its shareholder Beijing Yitang Shengxin [5] - Green Harmony's actual controllers have completed a reduction of 2.99% of their shares [7] - Hangke Technology's actual controller plans to transfer 3% of the total share capital [7] Stock Price Movements - Nanfeng Co. has reported that its 3D printing service project has not yet materialized, which may affect its current year's revenue and profit [3] Other Developments - Borui Pharmaceutical's BGM0504 tablets have been approved for clinical trials in overweight/obese adults, with no similar oral formulations approved globally [4] - Southwest Securities' subsidiary will lose its listing status on September 29 due to failure to meet resumption guidelines [20]

Group 1 - JinkoSolar announced that its major shareholder, JinkoSolar Investment Co., Ltd., plans to transfer approximately 400 million shares, accounting for 4% of its total share capital, through a price inquiry method organized by CITIC Securities [2] - The stock price of JinkoSolar closed at 5.69 yuan per share on September 12, which implies that the total value of the share transfer could reach 2 billion yuan [2][6] - JinkoSolar's three main business segments—silicon wafers, solar cells, and photovoltaic modules—experienced negative gross margins in the first half of 2025, with rates of -27.29%, -29.95%, and -0.98% respectively, indicating a significant impact from industry oversupply and price wars [3][4] Group 2 - Despite a year-on-year increase of 14.9% in module shipments to 41.84 GW, JinkoSolar's profitability is declining due to falling prices, leading to a situation where "incremental growth does not lead to increased profits" [3] - The company's gross margin for photovoltaic modules dropped from 8.67% in the same period last year to -0.98%, meaning a loss of 0.98 yuan for every 100 yuan in sales [4] - JinkoSolar's debt-to-asset ratio rose to 74.07%, significantly above the industry average, with interest-bearing liabilities reaching 37.914 billion yuan, which is much higher than cash and cash equivalents of 29.753 billion yuan [4] Group 3 - JinkoSolar's stock price has been underperforming, with a decline of approximately 68% over the past three years, reducing its market capitalization from over 190 billion yuan to about 56.93 billion yuan [5] - The major shareholder's decision to reduce holdings is the first since the company's listing in January 2022, citing "personal funding needs" as the reason for the share transfer [5] - The transfer price for the shares is expected to be set at 70% of the average trading price over the previous 20 trading days, and the buyers must be institutional investors with appropriate pricing capabilities and risk tolerance [5]

| 证券代码：688223 | 证券简称：晶科能源 | 公告编号：2025-056 | | --- | --- | --- | | 债券代码：118034 | 债券简称：晶能转债 | | 晶科能源股份有限公司 股东询价转让定价情况提示性公告 （一）本次询价转让受让方及受让股数仅为初步结果，尚存在拟转让股份被 司法冻结、扣划等风险。询价转让的最终结果以中国证券登记结算有限责任公司 上海分公司最终办理结果为准。 重要内容提示： 根据 2025 年 9 月 15 日询价申购情况，初步确定的本次询价转让价格为 4.90 元/股。 一、本次询价转让初步定价 （一）经向机构投资者询价后，初步确定的转让价格为 4.90 元/股。 （二）参与本次询价转让报价的机构投资者家数为 25 家，涵盖了基金管理 公司、保险公司、证券公司、私募基金管理人、合格境外投资者等专业机构投资 者。 （三）本次询价转让拟转让股份已获全额认购，初步确定受让方为 22 家机 构投资者，拟受让股份总数为 400,208,099 股。 二、风险提示 股东晶科能源投资有限公司、上饶市润嘉企业管理发展中心（有限合伙）、 上饶市卓领贰号企业发展中心（有限合伙） ...

【晶科能源：询价转让价格为4.90元/股】《科创板日报》15日讯，晶科能源(688223.SH)公告称，根据 2025年9月15日询价申购情况，初步确定的本次询价转让价格为4.90元/股。本次询价转让拟转让股份已 获全额认购，初步确定受让方为22家机构投资者，拟受让股份总数为4亿股。 转自：智通财经 ...

晶科能源公告，根据2025年9月15日询价申购情况，初步确定的本次询价转让价格为4.9元/股。参与本 次询价转让报价的机构投资者家数为25家，涵盖基金管理公司、保险公司、证券公司、私募基金管理 人、合格境外投资者等专业机构投资者。本次询价转让拟转让股份已获全额认购，初步确定受让方为22 家机构投资者，拟受让股份总数为4亿股。 ...

在晶科能源(688223)出售子公司股权后，晶科能源大股东也抛出一份股份询价转让计划。 除大股东询价转让股份以外，正如前述，晶科能源此前宣布，公司控股子公司浙江晶科拟出售其全资子 公司晶科新材料80%股权给帝科股份（300842），交易对价为8000万元。本次交易完成后，帝科股份持 有晶科新材料80%股权，浙江晶科持有晶科新材料20%股权，晶科新材料将不再纳入公司合并报表范围 内。目前，浙江晶科已收到帝科股份支付的第一期交易对价款1600万元。 针对出售晶科新材料股权一事，晶科能源表示，本次交易基于公司发展情况的综合考虑，如本次交易顺 利实施，有利于提高公司资产运营效率、降低管理成本、增强公司的持续经营能力，为公司业务拓展提 供资金支持。 数据显示，2025年上半年，晶科能源实现组件出货41.8GW，储能系统发货1.5GWh。在行业持续深度调 整过程中，报告期内公司实现营收318.31亿，归母净利润-29.09亿元。 "从集采与招投标情况来看，市场响应积极'反内卷'倡议，逐步按相对合理价格响应投标。目前行业中 标价格稳中有升，市场逐步回归理性、健康、有序态势。"在近期的机构交流中，晶科能源提到，预计 落后产能 ...

Core Viewpoint - JinkoSolar's major shareholders plan to reduce their holdings through a block trade, indicating potential financial pressures within the company [1][5][7]. Group 1: Shareholder Actions - JinkoSolar's major shareholder, JinkoSolar Investment Co., along with its concerted parties, intends to transfer approximately 400 million shares, representing 4% of the company's total equity [1][3]. - This is the first time since the company's IPO that the major shareholders have planned a reduction in their holdings [5][6]. - The transfer is being organized by CITIC Securities, and the estimated total value of the transaction could reach 2 billion yuan based on the closing price of 5.69 yuan per share on September 12 [1][4]. Group 2: Financial Performance - JinkoSolar reported a significant decline in revenue and a rare loss in the first half of 2025, with revenue of approximately 31.8 billion yuan, down 32.63% year-on-year, and a net loss of about 2.9 billion yuan [2][12]. - The company's asset-liability ratio stood at approximately 74% as of June 30, 2025, indicating high financial leverage [2][12]. - The company's three main business segments—silicon wafers, solar cells, and solar modules—experienced negative gross margins in the first half of 2025, with the gross margin for solar modules turning negative for the first time [14]. Group 3: Market Conditions - The solar photovoltaic market is facing intensified competition and declining product prices, leading to structural imbalances in supply and demand [2][11]. - JinkoSolar's stock price has seen a significant decline, with a drop of about 68% over the past three years, resulting in a market capitalization reduction from over 190 billion yuan to approximately 56.93 billion yuan [9][10]. - The company is taking steps to optimize its asset structure, including plans to sell 80% of its stake in Jinko New Materials for 80 million yuan [15]. Group 4: Future Outlook - Despite current challenges, there is optimism that JinkoSolar's performance may improve as the photovoltaic industry recovers [16].

Group 1 - JinkoSolar's stock price decreased by 2.11% on September 15, trading at 5.57 CNY per share, with a total market capitalization of 55.729 billion CNY [1] - The company experienced a net outflow of 62.0317 million CNY in principal funds, with large purchases amounting to 177 million CNY, representing 28.59% of total transactions, while sales reached 239 million CNY, accounting for 38.62% [1] - Year-to-date, JinkoSolar's stock has declined by 21.66%, with an 8.54% drop over the last five trading days and a 1.24% decrease over the last 20 days, although it has increased by 14.14% over the past 60 days [1] Group 2 - As of June 30, JinkoSolar reported a total of 74,200 shareholders, an increase of 0.89% from the previous period, with an average of 134,811 circulating shares per shareholder, a decrease of 0.88% [2] - For the first half of 2025, JinkoSolar achieved operating revenue of 31.831 billion CNY, a year-on-year decrease of 32.63%, and a net profit attributable to shareholders of -2.909 billion CNY, a decline of 342.38% [2] Group 3 - Since its A-share listing, JinkoSolar has distributed a total of 3.355 billion CNY in dividends, with 3.125 billion CNY distributed over the past three years [3] - As of June 30, 2025, the second-largest circulating shareholder is Hong Kong Central Clearing Limited, holding 438 million shares, an increase of 57.2066 million shares from the previous period [3] - The fourth-largest circulating shareholder is Huaxia SSE STAR 50 ETF, holding 220 million shares, a decrease of 5.7367 million shares from the previous period, while the seventh-largest is E Fund SSE STAR 50 ETF, holding 166 million shares, an increase of 4.7099 million shares [3]

Core Viewpoint - JinkoSolar's major shareholders plan to reduce their holdings through a block trade, selling approximately 400 million shares, which represents 4% of the company's total equity, due to personal funding needs [1][8]. Group 1: Shareholder Actions - JinkoSolar's major shareholder, JinkoSolar Investment Co., along with its concerted parties, intends to transfer a total of about 400 million shares via a block trade, representing 4% of the company's total shares [1][5]. - This is the first time since its IPO that JinkoSolar's major shareholders have planned to reduce their holdings [7]. - The shareholders involved hold a combined 58.59%, 3.16%, 2.17%, and 0.87% of the company's shares, with JinkoSolar Investment being the controlling shareholder [5]. Group 2: Financial Performance - JinkoSolar reported a significant decline in revenue, with approximately 318 billion yuan in the first half of 2025, a year-on-year decrease of 32.63%, and a net loss of about 29 billion yuan [3][11]. - The company's gross margin for its core product, solar modules, turned negative for the first time, with a gross margin of -0.98% in the first half of 2025, down from 8.67% in the same period last year [12][13]. - The company's asset-liability ratio stood at approximately 74% as of June 30, 2025, indicating financial pressure [3][13]. Group 3: Market Conditions - The solar market is experiencing intensified competition and a general decline in product prices, which has adversely affected JinkoSolar's operations [3][10]. - Despite the current challenges, there are expectations that the supply-demand imbalance in the solar market will improve, potentially leading to a recovery in JinkoSolar's performance [4][14]. - JinkoSolar's stock price has seen a significant decline, with a drop of about 68% over the past three years, resulting in a market capitalization reduction from over 190 billion yuan to approximately 56.93 billion yuan [9].

Group 1 - Aotewei plans to acquire 8.99% equity in Songci Electromechanical for 144 million yuan, increasing its stake from 73.84% to 82.83% [1] - The acquisition reflects Aotewei's confidence in its core business and aims to enhance control over Songci Electromechanical, optimizing management structure and operational efficiency [1] - The increase in shareholding ratio indicates potential for more concentrated resource investment and collaborative development strategies, signaling a positive outlook for investors [1] Group 2 - Tianhua New Energy intends to acquire 75% equity in Suzhou Tianhua Times for 1.254 billion yuan, with the transaction classified as a related party transaction [2] - This acquisition aims to consolidate the actual controller's lithium resource investment and development into the listed company, mitigating potential competition risks [2] - The transaction is expected to have a positive long-term impact on the company's development by enhancing its influence in the lithium resource sector [2] Group 3 - JinkoSolar's shareholders plan to transfer approximately 4% of the company's total shares, equating to around 400 million shares, due to personal funding needs [3] - The transfer reflects the shareholders' financial requirements, and while the percentage is not large, it may still affect market sentiment [3] - The requirement for the transferee to possess appropriate pricing capability and risk tolerance indicates the company's focus on maintaining stock price stability [3]