Core Viewpoint - The photovoltaic sector experienced significant volatility on November 12 due to rumors regarding silicon material storage and the establishment of an alliance for photovoltaic silicon materials and components, which were later denied by JA Solar Technology [1] Group 1: Company Responses - JA Solar Technology issued a clarification on November 12, stating that the rumors circulating online were false and misleading, damaging the company's and industry's reputation [1] - The company emphasized that its board secretary did not make any statements regarding the rumored silicon material storage during any meetings, and it reserves the right to pursue legal action against the spread of false information [1] - JA Solar urged investors and the public to rely on official channels for accurate information and to avoid spreading rumors [1] Group 2: Market Reactions - Following the rumors, the photovoltaic sector saw a collective decline, with the photovoltaic ETF dropping over 5%, and leading stocks such as Tongwei Co., Longi Green Energy, and JA Solar approaching their daily limit down [1] - The so-called storage platform and silicon material alliance refer to a consolidation plan for polysilicon production capacity that leading manufacturers have been promoting for the past six months [2] - The industry believes that controlling upstream production is essential for the mid and downstream sectors of the photovoltaic supply chain to overcome current challenges [2] Group 3: Industry Association Statements - The China Photovoltaic Industry Association stated on the afternoon of November 12 that it is working to promote industry self-regulation and "anti-involution" efforts with the guidance of relevant government departments [3] - The association expressed confidence that, with strong support from the central government and cooperation from industry players, the related initiatives will be successfully implemented [3] - Tongwei Co. also expressed its support for the photovoltaic "anti-involution" initiative, believing that relevant policies will gradually be implemented [3]

Focus on Chengtun Mining - Company plans to invest approximately 1.423 billion RMB (19.995 million USD) in its subsidiary Chengtun Gold International through its wholly-owned subsidiary Hongsheng International Resources [1] Focus on Century Huatong - Company intends to repurchase shares worth between 500 million to 1 billion RMB, with a maximum repurchase price of 28.77 RMB per share [2] Focus on ST Zhongdi - Company stock experienced a significant price increase of 153.19% from October 16 to November 12, 2025, leading to a trading suspension for verification starting November 13, 2025 [3] Performance Highlights - BeiGene reported a revenue of 27.595 billion RMB for the first three quarters of 2025, marking a year-on-year growth of 44.2%, with a net profit of 1.139 billion RMB [4] Capital Increase & Restructuring - *ST Lian Stone received court approval for its restructuring plan, entering the execution phase after the termination of the restructuring process [5] Important Matters - Tuosda is planning to issue overseas shares (H-shares) and list on the Hong Kong Stock Exchange, with discussions ongoing with relevant intermediaries [6] - North Medical's chairman and president were arrested for criminal charges, but the company's control and operations remain stable [7] - Nanjing Public Utilities is transferring 43.731 million shares, accounting for 7.61% of total shares, to Nanjing Innovation Investment Group for approximately 300 million RMB [8] Company Developments - Kaige Precision Machinery is establishing a joint venture with Zhangjiagang Wuyue Special Materials Technology, with an investment of 1 billion RMB for high-end component projects [9] - Stable Medical is investing approximately 2 billion RMB in a new production base for cotton non-woven fabric [10] - Fuchun Environmental is co-investing 116 million RMB in a combined heat and power project in Hubei [10] - Xingsheng Zhihui is collaborating with Beijing Automotive Group for resource sharing in the new energy vehicle sector [10] Stock Trading Updates - Huazhong Silver's subsidiary is undergoing a year-end maintenance shutdown, expected to last 20 days, with no impact on annual production plans [11] - San Yuan Co. clarified that its seasonal product, milk skin candy, has minimal revenue impact [12] - Chongqing Beer plans to distribute a cash dividend of 1.30 RMB per share, totaling approximately 629 million RMB [12] Stock Suspension - ST Zhongdi's stock is suspended for verification due to significant price fluctuations [15]

晶澳科技（002459）发布澄清公告。 11月12日，受市场传闻影响，光伏产业链股大幅跳水，截至收盘，阿特斯跌超14%，艾罗能源跌超10%，隆基 绿能、晶澳科技、通威股份等跌超6%。 | 代码 名称 | � | 涨幅% | 现价 | 涨跌 | 买价 | 卖价 | 总量 | | --- | --- | --- | --- | --- | --- | --- | --- | | 688472 | | K -14.33 | 20.56 | -3.44 | 20.56 | | 20.57 280.2万 | | 688717 文学能源 | | k -10.16 | 68.65 | -7.76 | 68.65 | 68.66 | 92750 | | 002885 京泉华 | | R -10.01 | 30.03 | -3.34 | | | 30.03 460061 | | 002255 海战重工 | R | -9.64 | 12.47 | -1.33 | 12.46 | | 12.47 208.2万 | | 603759 海天股份 | . | -9.21 | 11.73 | -1.19 | 11.73 | | 11.74 ...

新京报贝壳财经讯（记者朱玥怡）经历了一天的纷扰后，晶澳科技在11月12日晚间发布澄清公告，就传 闻中公司高管宣称收储"黄了"予以回应。 晶澳科技在公告中表示，公司董事会秘书未在任何内部或外部会议上发表过网传言论。相关内容系网络 谣传，严重误导公众认知，损害公司及行业声誉。针对不实言论的传播行为，公司保留通过法律途径追 究相关责任的权利。 11月12日有市场传言称，晶澳科技高管在参加交流活动时表示光伏行业酝酿的收储一事"黄了"。该消息 迅速引起市场与业内关注。 这则市场传闻同样扰动了晶澳科技股价。11月12日，晶澳科技收14.03元/股，跌6.84%。 晶澳科技方面向贝壳财经记者表示，公司坚决拥护国家反内卷政策，坚决践行行业自律，积极履行企业 社会责任，与行业各方携手推动反内卷和行业自律工作落地见效，为行业高质量发展贡献力量。 编辑 岳彩周 校对 杨许丽 中国光伏行业协会在11月12日下午发文称，协会在相关部委的坚强指导下努力推进行业自律和"反内 卷"工作，从供需两端共同发力，市场化、法制化地推动相关工作。 ...

Core Viewpoint - The leading integrated photovoltaic company, JA Solar Technology (002459.SZ), denied rumors regarding the failure of its polysilicon storage, stating that the claims are false and misleading to the public, and the company reserves the right to pursue legal action against the spread of such misinformation [1][3][4] Group 1: Company Response - JA Solar's board secretary has not made any statements regarding the alleged failure of polysilicon storage in any internal or external meetings, labeling the information as internet rumors [1] - The company emphasized its commitment to national policies against internal competition and its role in promoting industry self-discipline and social responsibility [3] - JA Solar urged the public not to believe or spread rumors, reinforcing its dedication to high-quality industry development [3][4] Group 2: Market Reaction - On the same day, the photovoltaic sector experienced a significant decline, with the photovoltaic ETF dropping over 5%, and major stocks like JA Solar, Tongwei Co. (600438.SH), and LONGi Green Energy (601012.SH) nearing their daily limit down [1][2] - The decline in the photovoltaic sector also negatively impacted popular energy storage stocks, with companies like Canadian Solar (688472.SH) and Sungrow Power Supply (300274.SZ) seeing substantial drops of over 17% and 5%, respectively [1] - Following the official clarifications regarding the rumors, the stock declines in the photovoltaic sector began to narrow, and the main contract for polysilicon futures rebounded from a drop to a gain [4]

Core Viewpoint - JinkoSolar Technology Co., Ltd. has issued a statement to clarify that recent rumors circulating online about the company are false and misleading, damaging the company's and the industry's reputation [1] Group 1: Company Response - The company emphasizes that its board secretary has not made any statements in internal or external meetings regarding the rumors [1] - JinkoSolar reserves the right to pursue legal action against those spreading false information [1] Group 2: Industry Context - The photovoltaic sector in A-shares experienced a significant downturn, attributed to market rumors suggesting that a "silicon material and component alliance company was denied by relevant authorities" [4] - The China Photovoltaic Industry Association has also released a statement denouncing the false information circulating online, urging the public to discern and make cautious decisions [5] - The association is committed to maintaining national and industry interests and will combat malicious actions aimed at defaming the photovoltaic industry for profit [5]

Core Viewpoint - Company clarifies that recent rumors circulating about it are false and have misled the public, damaging its reputation and that of the industry [2][6] Group 1: Company Response - Company states that its board secretary has not made any statements in internal or external meetings regarding the rumors [2] - Company reserves the right to pursue legal action against those spreading false information [2] - Company emphasizes the importance of obtaining accurate information through official channels and urges the public not to spread rumors [6] Group 2: Market Impact - The solar energy sector, including companies like Canadian Solar, Tongwei Co., Longi Green Energy, and JA Solar, experienced significant declines in stock prices due to the rumors [7] - Company expresses confidence in the implementation of policies aimed at reducing competition within the solar industry and supports the establishment of a storage platform [7] - Company acknowledges the need for collaboration among various parties to overcome challenges for the healthy development of the industry [7]

Core Viewpoint - JinkoSolar has issued a statement clarifying that recent rumors circulating online regarding the company are false and misleading, damaging the company's and industry's reputation [1][4] Company Response - The company emphasizes that its board secretary has not made any statements in internal or external meetings as claimed in the rumors, and it reserves the right to pursue legal action against those spreading false information [1] - JinkoSolar urges investors, partners, and the public to rely on official channels for accurate information and to avoid spreading rumors [1] Industry Context - The China Photovoltaic Industry Association has also stated that the rumors are untrue and encourages careful discernment in decision-making [4] - The association is committed to protecting national and industry interests and will combat malicious actions aimed at undermining the photovoltaic sector [4] Company Background - JinkoSolar was founded in 2005 and has since developed a vertically integrated supply chain, including silicon rods, wafers, solar cells, modules, and photovoltaic power generation [4][5] - The company went public on NASDAQ in 2007 and later completed its privatization and relisting on the Shenzhen Stock Exchange in 2019 [5] - JinkoSolar operates multiple production bases globally and has established a comprehensive renewable energy industry chain, with products sold in 180 countries and regions [5]

11月12日，受相关传闻影响，光伏板块大跌。 11月12日晚间，晶澳科技发布澄清公告称，近日，网络上流传关于晶澳科技的不实言论，引发部分关注。对此，公司澄清并郑重声明：公司董事会秘书未 在任何内部或外部会议上发表过网传言论。相关内容系网络谣传，严重误导公众认知，损害公司及行业声誉。针对不实言论的传播行为，公司保留通过法 律途径追究相关责任的权利。 同时，晶澳科技相关人士向上海证券报记者表示，晶澳科技坚决拥护国家"反内卷"政策，坚决践行行业自律，积极履行企业社会责任，与行业各方携手推 动"反内卷"和行业自律工作落地见效，为行业高质量发展贡献力量。 稍早前，中国光伏行业协会于11月12日下午在其微信公众号发布《关于网络不实消息的声明》称，网络流传的小道消息均为不实信息，望请各位注意甄 别，慎重决策。 协会表示，协会坚定维护国家利益、行业利益，针对妄图通过造谣抹黑、恶意做空光伏行业牟取利益的恶劣行为，将与之斗争到底。 协会表示，在相关部委的坚强指导下，光伏行业正努力推进行业自律和"反内卷"工作：从供需两端共同发力，市场化、法制化地推动相关工作。当下，协 会和行业内各企业正一道努力，相关工作正在稳步推进。 （文章来源 ...

Group 1 - The core viewpoint of the article is that JinkoSolar has issued a clarification statement regarding false rumors circulating online, which have misled the public and harmed the company's reputation [1][5][7] - The company stated that its board secretary did not make any statements in internal or external meetings that were reported online, and it reserves the right to pursue legal action against those spreading false information [1][5] - Following the spread of the rumors, the A-share photovoltaic sector experienced a significant decline, with notable stocks like Canadian Solar dropping over 17% and the photovoltaic ETF falling more than 4% [5][6] Group 2 - JinkoSolar's stock price fell by 6.84%, closing at 14.03 yuan, with a total market capitalization of 46.435 billion yuan [7] - Company representatives expressed confidence in the photovoltaic industry's policies aimed at reducing "involution" and emphasized their support for the establishment of a storage platform, acknowledging the challenges in its implementation [7]