Mergers and Acquisitions - Zhongguangtianze plans to acquire 100% equity of Changsha Sports Industry Company for 29.6 million yuan, constituting a related party transaction [1] Earnings Disclosure - JinkoSolar reported a revenue of 13.843 billion yuan for Q1 2025, a year-on-year decrease of 40.03%, with a net loss of 1.39 billion yuan compared to a net profit of 1.176 billion yuan in the same period last year [2] - Zhongjin Gold reported a revenue of 14.859 billion yuan for Q1 2025, a year-on-year increase of 12.88%, with a net profit of 1.038 billion yuan, up 32.65% year-on-year [3] - Northern Rare Earth achieved a revenue of 9.287 billion yuan for Q1 2025, a year-on-year increase of 61.19%, with a net profit of 431 million yuan, up 727.3% year-on-year [4] - Kweichow Moutai reported a revenue of 50.601 billion yuan for Q1 2025, a year-on-year increase of 10.54%, with a net profit of 26.847 billion yuan, up 11.56% year-on-year [5] Share Buybacks - Shanjin International plans to repurchase shares with a total amount between 100 million and 200 million yuan at a price not exceeding 29.7 yuan per share [6] - Sichuan Road and Bridge plans to repurchase shares with a total amount between 100 million and 200 million yuan at a price not exceeding 12.54 yuan per share [7] - China Railway plans to repurchase shares with a total amount between 800 million and 1.6 billion yuan at a price not exceeding 8.5 yuan per share [8] - Anhui Construction's controlling shareholder plans to increase its stake in the company with a total amount not exceeding 200 million yuan [9][10] Risk Matters - Chuangxing Resources' stock will be subject to delisting risk warning starting May 6, 2025, due to negative net profit for the fiscal year 2024 [11] - Yong'an Pharmaceutical clarified that rumors regarding a significant price increase of taurine are untrue [12] - *ST Xulan's stock will be delisted on April 30, 2025, as decided by the Shenzhen Stock Exchange [13] - Dawi Technology's shareholder plans to reduce its stake by up to 3% of the company's total shares due to personal financial needs [14]

Core Insights - JinkoSolar achieved a global module shipment of 92.87GW in 2024, marking an 18.28% year-on-year increase and securing the top position in global module shipments for the sixth consecutive year [1] - The company's revenue reached 92.47 billion yuan, with a net profit attributable to shareholders of 0.99 billion yuan, while N-type module shipments accounted for 88% of total shipments [1] Group 1: Market Performance - JinkoSolar's module shipment volume increased from 78.52GW in 2023 to 92.87GW in 2024, significantly outpacing the industry average growth rate [1] - The company is the only entity to surpass 90GW in annual shipments, achieving this milestone for the first time in 2024 [1] - The overseas market contributed significantly to growth, with module sales accounting for nearly 70% of total sales, particularly in emerging markets like the Middle East and Southeast Asia [2] Group 2: Strategic Developments - In 2024, JinkoSolar signed a contract with Saudi Arabia's Public Investment Fund and Vision Industries Company to establish a 10GW high-efficiency battery and module production capacity, expected to be operational by the second half of 2026 [2] - The company has successfully maintained production at a 2GW domestic production line in the U.S., despite market fluctuations [2] Group 3: Technological Advancements - JinkoSolar's N-type technology has enabled it to achieve a competitive edge, with 81.29GW of N-type module shipments in 2024 [2] - The third-generation Tiger Neo module boasts a conversion efficiency of 24.8% and a bifacial rate of 85%, with a maximum power output of 670W [2] - The company has over 3,000 patent authorizations, with the highest number of N-type TOPCon related patents globally, reinforcing its technological barriers [3]

公司持续推进全球化布局，2024年海外组件销售额占比接近70%。与沙特公共投资基金(PIF)及沙特能源 设备公司(Vision Industries Company)合作建设的10GW高效电池及组件项目进展顺利，预计2026年下半 年逐步投产，将增强公司在中东市场的竞争力；美国工厂完成升级改造与扩产，2GW产能实现满产运 营，本土化供应突破贸易壁垒。 4月29日晚间，全球光伏龙头企业晶科能源(688223.SH)发布2024年度业绩。财报显示，公司在2024年实 现组件出货量92.87GW，同比增长18.28%，第六次蝉联全球组件出货量冠军。公司全年营收924.7亿 元，实现归属于上市公司股东的净利润0.99亿元。值得注意的是，2024年公司实现经营性现金流78.67亿 元，全年资产负债率逆势下降2个百分点。 在全球光伏行业供需格局深度调整的背景下，公司凭借在技术创新、全球化布局、数智化转型及储能业 务的多维突破，展现出强大的经营韧性，持续巩固行业龙头地位。截至报告期末，公司黄金片区电池量 产平均效率超26.7%，实验室TOPCon钙钛矿叠层电池效率达34.22%，为当前主流技术与下一代技术融 合打开空间。公 ...

Core Viewpoint - JinkoSolar has demonstrated strong operational resilience and maintained its leading position in the global photovoltaic industry, achieving significant growth in both shipment volume and revenue despite a challenging market environment [1] Group 1: Performance and Financials - In 2024, JinkoSolar achieved a module shipment volume of 92.87 GW, representing a year-on-year increase of 18.28%, marking the sixth consecutive year as the global leader in module shipments [1] - The company reported total revenue of 92.47 billion yuan and a net profit attributable to shareholders of 0.99 billion yuan [1] - Operating cash flow reached 7.867 billion yuan, and the asset-liability ratio decreased by 2 percentage points [4] Group 2: Technological Advancements - JinkoSolar leads in N-type TOPCon technology, achieving an average efficiency of over 26.7% for mass-produced cells and a laboratory efficiency of 34.22% for TOPCon perovskite tandem cells [2] - The third-generation Tiger Neo photovoltaic module, based on the HOT4.0 technology platform, has a maximum power output of 670W and a conversion efficiency of 24.8% [2] - The company plans to upgrade over 40% of its production capacity by 2025, targeting 40-50 GW of high-power TOPCon capacity [2] Group 3: Global Strategy and Digital Transformation - JinkoSolar's overseas module sales accounted for nearly 70% of total sales in 2024, with significant growth in the Middle East and Southeast Asia [3] - The company is collaborating on a 10 GW efficient battery and module project in Saudi Arabia, expected to begin production in the second half of 2026 [3] - Digital transformation is a core driver of high-end manufacturing, with the introduction of advanced digital management platforms and smart production equipment [3] Group 4: Storage Business Development - The energy storage business has emerged as a second growth curve, with system shipments exceeding 1 GWh in 2024, showing substantial growth [5] - JinkoSolar offers customized energy storage solutions for various applications and has signed orders with multiple global power developers [5] - The company aims to achieve a storage system shipment target of 6 GWh by 2025, focusing on the integration of solar and storage solutions [5]

Group 1 - The core viewpoint of the articles highlights the financial performance and market position of JinkoSolar, indicating a significant decline in revenue and profit compared to the previous year [1][2] - JinkoSolar's stock closed at 5.68 yuan, with a rolling PE ratio of 627.67, significantly higher than the industry average of 27.26 [1][2] - The company has a total market capitalization of 568.30 billion yuan, ranking 77th in the photovoltaic equipment industry based on PE ratio [1][2] Group 2 - As of September 30, 2024, JinkoSolar had 74,651 shareholders, a decrease of 4,045 from the previous count, with an average holding value of 352,800 yuan per shareholder [1] - The company's main business includes the research, production, and sales of photovoltaic modules, silicon wafers, and solar cells, focusing on providing high-quality solar energy products globally [1] - In the latest quarterly report for 2024, JinkoSolar reported revenue of 71.77 billion yuan, a year-on-year decrease of 15.66%, and a net profit of 1.215 billion yuan, down 80.88% from the previous year, with a gross margin of 9.68% [1]

晶科能源股份有限公司的主营业务是光伏组件、硅片及光伏电池片的研发、生产和销售以及光伏技术的 应用和产业化，并以此为基础向全球客户提供高效、高质量的太阳能光伏组件及储能产品，持续输送清 洁能源。公司主要产品是光伏组件、光伏电池片、硅片。公司获评"全国第三批智能光伏试点示范企 业"、"省产融合作主导产业重点企业"、"省瞪羚企业"等荣誉。 4月22日，晶科能源今日收盘5.68元，下跌2.91%，滚动市盈率PE（当前股价与前四季度每股收益总和的 比值）达到627.67倍，总市值568.30亿元。 从行业市盈率排名来看，公司所处的光伏设备行业市盈率平均25.36倍，行业中值25.34倍，晶科能源排 名第78位。 股东方面，截至2024年9月30日，晶科能源股东户数74651户，较上次减少4045户，户均持股市值35.28 万元，户均持股数量2.76万股。 序号股票简称PE(TTM)PE(静)市净率总市值(元)78晶科能源627.67627.671.76568.30亿行业平均 25.3623.262.43146.59亿行业中值25.3421.571.9766.56亿1拓日新能-734.46407.361.0543.94亿 ...

最新一期业绩显示，2024年三季报，公司实现营业收入717.70亿元，同比-15.66%；净利润12.15亿元， 同比-80.88%，销售毛利率9.68%。 序号股票简称PE(TTM)PE(静)市净率总市值(元)78晶科能源651.98651.981.83590.31亿行业平均 24.6421.492.43146.69亿行业中值25.1221.331.9966.38亿1拓日新能-725.01187.721.0343.38亿2固德 威-164.77-164.773.60104.05亿3ST天龙-156.29-107.9456.739.26亿4晶澳科技-153.094.561.03321.04亿5航天 机电-126.77-126.771.8690.21亿6高测股份-98.12-98.121.2447.40亿7亚玛顿-97.9632.470.8727.11亿8赛伍技 术-53.3539.731.4441.17亿9明冠新材-35.78-35.780.8824.50亿10珈伟新能-34.65171.621.5127.31亿11天洋新 材-29.37-31.321.7129.51亿 本文源自：金融界 4月17日，晶科能源 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示，概不就因本公告全部或任何部分內容 而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 ENVISION GREENWISE HOLDINGS LIMITED 晉景新能控股有限公司 自願性公告 有關 與浙江晶科儲能有限公司 簽署戰略合作諒解備忘錄之 業務更新資料 本公告乃由晉景新能控股有限公司（「本公司」）自願作出，以知會其股東及潛在投資者有 關本公司之最新發展。 諒解備忘錄 於2025年3月16日，本公司與浙江晶科儲能有限公司（「晶科」）訂立諒解備忘錄（「備忘錄」）。 根據備忘錄的條款（其中包括），本公司與晶科將在綠色能源業務領域密切合作，包括以 下內容： — 1 — (a) 在全球回收市場合作，專注於建立全面的回收網絡，本公司將在全球開放其回收點， 與晶科共同使用，促進資源共享，並最大限度地提高營運效率及全球回收影響；及 (b) 在全球範圍內探索特定戰略市場的合作機會，以實現全球夥伴關係。 有關訂約方的資料 本公司從事逆向供應鏈管理及綠色能源解決方案業務。 （股份代號：1783） （於 ...