300724，高管股东集体减持

Core Viewpoint - The article discusses the recent stock performance and shareholder behavior of Jiejia Weichuang (300724.SZ), a leading photovoltaic cell equipment manufacturer, highlighting the contrast between rising stock prices and ongoing shareholder sell-offs [3][4]. Group 1: Shareholder Actions - Multiple shareholders, including major stakeholder Li Shijun, have announced plans to reduce their holdings, with Li planning to cash out approximately 320 million yuan, bringing his total cash-out since 2021 to over 600 million yuan [3][6][7]. - Li Shijun's cumulative reduction amounts to 464.99 million shares, totaling around 668 million yuan, with potential total cash-out nearing 1 billion yuan if the latest plan is fully executed [7]. - Other shareholders have also participated in selling, with a total of over 230 million yuan cashed out in recent months [7]. Group 2: Company Performance - Jiejia Weichuang's stock price has increased by over 70% year-to-date, with a notable 37% rise in the last two weeks, reflecting strong market interest amid a stabilizing photovoltaic industry [5][8]. - The company reported a revenue of 8.372 billion yuan for the first half of 2025, a year-on-year increase of 26.4%, and a net profit of 1.83 billion yuan, up 49.26%, marking the best performance since its IPO [8][9]. - In Q2 2025, the company achieved a revenue of 4.273 billion yuan, with a year-on-year growth of 5.66%, and a net profit of 1.122 billion yuan, reflecting significant growth compared to previous quarters [8][9]. Group 3: Industry Context - The photovoltaic industry is experiencing a phase of adjustment, with production growth rates for battery cells and modules remaining below 15% in the first half of 2025, while exports have shown signs of recovery [8][9]. - The global forecast for new photovoltaic installations has been revised upward, indicating a growing demand primarily from emerging markets, despite anticipated slowdowns in growth rates [9][10]. - The industry faces challenges such as capacity clearing and intensified competition among new battery technologies, necessitating ongoing investment in research and development to maintain a competitive edge [10].