股价大跌近12%后 晶科能源紧急启动回购

Core Viewpoint - JinkoSolar's stock price has declined significantly despite a more than threefold increase in net profit in the first half of the year, leading to a market capitalization drop to 104.2 billion yuan [1] Financial Performance - In the first half of the year, JinkoSolar achieved operating revenue of 53.624 billion yuan, a year-on-year increase of 60.52% [1] - The net profit for the same period was 3.843 billion yuan, reflecting a year-on-year growth of 324.58% [1] - The non-recurring net profit was 3.536 billion yuan, up 340.34% year-on-year [1] Stock Market Reaction - On August 15, JinkoSolar's stock price fell by 11.99%, closing at 10.42 yuan per share, with a trading volume of 1.41 billion yuan and a turnover rate of 6.66% [1] - In response to the stock price drop, the company announced a share buyback plan of 300 million to 600 million yuan, with a maximum repurchase price of 18.85 yuan per share [1] Capital Raising and Asset Impairment - JinkoSolar is seeking additional funds through a new private placement plan to raise 9.7 billion yuan for expanding its integrated project capacity in Shanxi [2] - The company reported asset impairment losses totaling 1.32 billion yuan, with the largest portion being 1.246 billion yuan attributed to inventory, fixed assets, and contract asset impairments [2] Industry Context - The significant decline in silicon material prices since March has impacted JinkoSolar's financials, leading to potential inventory losses due to the long production cycle [3] - The price of silicon materials dropped from over 200,000 yuan per ton to around 70,000 yuan per ton by the end of June [3] - The entire photovoltaic sector experienced a downturn, with major companies like TCL Zhonghuan and JA Solar also reporting declines in stock prices [3][4]