Core Viewpoint - JinkoSolar announced a significant increase in renewable energy subsidy funds received in 2025, indicating strong growth in its solar power projects [2] Summary by Categories Financial Performance - In August 2025, the company received a total of 646 million yuan in renewable energy subsidy funds, with 633 million yuan coming from national subsidies [2] - From January 1 to August 31, 2025, the total renewable energy subsidy funds received amounted to 891 million yuan, representing a 248% increase compared to the same period last year [2] - The national renewable energy subsidy funds during this period reached 850 million yuan, which is a 272% increase year-on-year [2] Market Position - The subsidies received in 2025 accounted for 166% of the total renewable energy subsidies received in 2024 [2] - The national subsidies represented 178% of the total national renewable energy subsidies received in 2024 [2]

格隆汇9月4日丨晶科科技(601778.SH)公布，2025年8月，公司下属光伏发电项目公司共收到可再生能源 补贴资金6.46亿元，其中国家可再生能源补贴资金6.33亿元。 自2025年1月1日至2025年8月31日，公司共收到可再生能源补贴资金8.91亿元，较上年同期增加248%， 占2024年全年收到可再生能源补贴资金的166%；其中，国家可再生能源补贴资金8.50亿元，较上年同 期增加272%，占2024年全年收到国家可再生能源补贴资金的178%。 ...

Core Viewpoint - JinkoSolar (601778) announced on September 4 that its subsidiary photovoltaic power generation project company received renewable energy subsidy funds of 646 million yuan by August 2025 [1] Summary by Relevant Categories Financial Performance - From January to August 2025, the company received a total of 891 million yuan in renewable energy subsidy funds, representing a 248% increase compared to the same period last year [1] - The amount received in the first eight months of 2025 accounted for 166% of the total renewable energy subsidy funds received in the entire year of 2024 [1]

Core Viewpoint - JinkoSolar (601778.SH) reported significant increases in renewable energy subsidy funds received in 2025, indicating strong growth in financial support for its photovoltaic projects [1] Summary by Relevant Categories Financial Performance - In August 2025, the company received a total of 646 million yuan in renewable energy subsidy funds, with 633 million yuan coming from national renewable energy subsidies [1] - From January 1 to August 31, 2025, the total renewable energy subsidy funds received amounted to 891 million yuan, representing a 248% increase compared to the same period last year, and accounting for 166% of the total subsidies received in 2024 [1] - The national renewable energy subsidy funds during this period reached 850 million yuan, which is a 272% increase year-on-year, making up 178% of the total national subsidies received in 2024 [1]

Core Viewpoint - The Fujian Provincial Development and Reform Commission has issued guidelines for the management of distributed photovoltaic (PV) power generation, emphasizing the integration of such projects into the grid based on capacity assessments and encouraging rural development through large-scale projects [1] Group 1: Guidelines for Distributed PV Integration - Local grid companies are required to follow the principle of "should connect, must connect, can connect early" when issuing grid connection opinions for distributed PV projects [1] - For already operational large commercial distributed PV projects that cannot meet self-consumption requirements due to significant changes in electricity load, a transition to centralized PV stations is allowed, provided that a load change explanation and connection adjustment plan are submitted [1] - Uncommissioned large commercial distributed PV projects are prohibited from applying for changes to centralized PV stations [1] Group 2: Assessment and Public Disclosure - Grid companies must conduct assessments of the grid connection capacity and enhancement measures for distributed PV projects in accordance with national and provincial regulations, and publicly disclose these assessments quarterly through platforms like the "State Grid" app [1] - The initiative "Thousands of Households in the Sunlight" aims to promote large-scale development of non-natural person household PV systems in rural areas while respecting farmers' rights and interests [1] - Grid companies are expected to timely upgrade distribution networks based on the scale of village development and provide quality grid connection services [1]

Group 1 - Huazhong Securities has been approved to issue subordinate corporate bonds with a total face value of no more than 10 billion yuan [1] - Jinbei Automotive plans to invest 240 million yuan to establish an automotive industry investment fund focusing on electrification, intelligence, and low carbon [1] - Linyang Energy is expected to win a bid for a 244 million yuan metering equipment project from Southern Power Grid [1][2] Group 2 - Renfu Pharmaceutical's subsidiary has received drug registration certificates for two products, including a medication for acute hypotension [3][4] - Nanjing Steel plans to distribute a cash dividend of 0.1186 yuan per share [5][6] - Pairui Co. has signed a strategic cooperation agreement with Xi'an Power Electronics Research Institute to develop power devices [7][8] Group 3 - Haixing Electric is expected to win a bid for a 214 million yuan metering equipment project from Southern Power Grid [9][10] - Kuangda Technology is planning a change in control, leading to a continued suspension of its stock [11][12] - Samsung Medical is expected to win a bid for a 274 million yuan metering equipment project from Southern Power Grid [13][14] Group 4 - Jiukang Bio has obtained a medical device registration certificate for a specific diagnostic kit [15][16] - Hechuan Technology's minority shareholder plans to transfer a 13% stake in a subsidiary [17][18] - DiAo Micro has launched a new eUSB2 repeater product for various electronic applications [19][20] Group 5 - David Medical's electric surgical table registration application has been accepted [21][22] - Hangxin Technology plans to apply for a total of 280 million yuan in bank credit [23][24] - Liyuan Technology's non-independent director has resigned [25][26] Group 6 - Ningbo Construction's subsidiary has won a construction project bid worth 729 million yuan [27][28] - Huaren Pharmaceutical's subsidiary has received approval for a raw material drug [29][30] - Suwen Electric plans to distribute a cash dividend of 1 yuan per 10 shares [31][32] Group 7 - Solar Energy has received 1.692 billion yuan in renewable energy subsidies [33][34] - Wangli Security has obtained a patent for a new lock structure [35][36] - Zhejiang Energy's vice chairman has resigned due to age reasons [37][38] Group 8 - Beilu Pharmaceutical's subsidiary has passed GMP certification in Brazil [39][40] - Zhejiang Communications has a subsidiary that is expected to win a highway project bid [41][42] - Xinzhi Group has received a government subsidy of 11.1978 million yuan [43][44] Group 9 - Dong'an Power's engine sales in August increased by 3.44% year-on-year [45][46] - Baiyun Mountain's subsidiary has passed the consistency evaluation for two generic drugs [47][48] - Yipin Hong's subsidiary has received a drug registration certificate for a specific injection [49][50] Group 10 - Far East Holdings' subsidiary has won multiple contracts totaling 1.689 billion yuan [51][52] - Good Housekeeping's shareholder plans to reduce holdings by up to 3.5 million shares [53][54] - Guanghong Technology's shareholders have set a transfer price of 23.33 yuan per share [55][56] Group 11 - Keli Sensor plans to acquire 45% of Huahong Technology's shares for 122 million yuan [57][58] - Jianmin Group's furosemide oral solution has been approved for market launch [59][60] - Jinghua Laser's directors plan to reduce their holdings by up to 143,420 shares [61][62] Group 12 - Zhuyue Group is planning a share transfer that will change its controlling shareholder [63][64] - Terid has pre-bid for two projects totaling approximately 698 million yuan [65][66] - Zhonghuan Hailu is planning a change in control, leading to a continued suspension of its stock and convertible bonds [67][68] Group 13 - Great Wall Motors reported August sales of 115,600 vehicles, a year-on-year increase of 22.33% [69][70] - Guizhou Tire's controlling shareholder has committed not to reduce holdings for 12 months [71][72] - San Da Membrane's shareholder plans to reduce holdings by up to 1% of the company's shares [73][74] Group 14 - Chint Electric has decided to terminate the spin-off of its subsidiary for listing [75][76] - Jusaylong's shareholder plans to reduce holdings by up to 1% of the company's shares [77][78]

Core Viewpoint - The article highlights the transformation of the Kubuqi Desert through the establishment of a large-scale photovoltaic power generation base, referred to as the "Photovoltaic Great Wall," which integrates green energy and ecological restoration to combat desertification and promote sustainable development [1]. Group 1: Photovoltaic Power Generation - The "Photovoltaic Great Wall" consists of a massive solar power generation facility that spans hundreds of miles, symbolizing a significant shift from desert encroachment to ecological recovery [1]. - Currently, the installed capacity of the photovoltaic base is 5 GW, generating 10 billion kWh of green electricity annually, with future capacity projected to reach 30 GW, producing 60 billion kWh per year [8]. - The project aims to provide enough green electricity to meet the daily needs of millions of households [8]. Group 2: Ecological Restoration - The project has increased the vegetation coverage in the Kubuqi Desert to 58.6%, contributing to the ecological restoration of the area [11]. - The comprehensive management of 3 million acres of desertified land is planned upon the completion of the 100 million kW installed capacity [14]. Group 3: Economic and Social Impact - The initiative is expected to generate an average income of over 60,000 yuan per household through land transfer and other income-generating activities, enhancing the livelihoods of local farmers [18]. - The project also aims to attract leading companies in the new energy equipment manufacturing sector, fostering a complete industrial chain for photovoltaic manufacturing [16]. Group 4: Technological Innovation - The project emphasizes technological innovation by implementing multi-energy complementary technologies and innovative operational models that integrate coal power with renewable energy [17]. Group 5: Historical Context - Since the 18th National Congress of the Communist Party, Ordos has completed ecological construction on over 60 million acres, significantly improving desert management rates in the Kubuqi Desert and Mu Us Sandy Land [19].

Core Viewpoint - The company has received significant renewable energy subsidy funds, which will positively impact its cash flow and future operations of photovoltaic power stations [1] Summary by Relevant Sections Renewable Energy Subsidy Funds - In August 2025, the company's photovoltaic project subsidiaries received a total of 1.692 billion yuan in renewable energy subsidy funds, with 1.68 billion yuan coming from national subsidies [1] - From January 1 to August 31, 2025, the company received a total of 2.319 billion yuan in renewable energy subsidy funds, representing a 232.23% increase compared to the same period last year, and accounting for 169.77% of the total subsidies received in 2024 [1] - The national renewable energy subsidy funds amounted to 2.252 billion yuan during the same period, showing a 258.60% increase year-on-year, and constituting 182.64% of the total national subsidies received in 2024 [1] Impact on Cash Flow and Operations - The recovery of renewable energy subsidy funds is expected to improve the cash flow of the company's photovoltaic power stations, leading to a positive impact on future operations [1] - The subsidy funds have been recognized as revenue in the corresponding fiscal year upon electricity sales, indicating that this repayment will not have a significant impact on the company's profit and loss for the fiscal year 2025 [1]

Core Viewpoint - The company has received significant renewable energy subsidy funds, which will enhance cash flow for its photovoltaic power generation projects, although the impact on the 2025 financial results will be minimal [1] Summary by Relevant Sections - **Subsidy Funds Received** The company announced that its photovoltaic project subsidiary received a total of 1.692 billion yuan in renewable energy subsidy funds as of August 2025, with 1.68 billion yuan coming from national renewable energy subsidies [1] - **Year-on-Year Comparison** From January to August 2025, the company received 2.319 billion yuan in renewable energy subsidy funds, representing a 232.23% increase compared to the same period last year. This amount accounts for 169.77% of the total renewable energy subsidy funds received in 2024 [1] - **Impact on Cash Flow** The recovery of renewable energy subsidy funds is expected to improve the cash flow of the company's photovoltaic power stations. The subsidy funds have been recognized as revenue in the corresponding fiscal year upon electricity sales, indicating that the recent payment will not have a significant impact on the company's profit and loss for 2025 [1]

Core Viewpoint - The company has received significant renewable energy subsidy funds, which will positively impact its cash flow and future operations of photovoltaic power stations [1] Summary by Relevant Sections Renewable Energy Subsidy Funds - In August 2025, the company's photovoltaic project subsidiaries received a total of 1.692 billion yuan in renewable energy subsidy funds, with 1.68 billion yuan coming from national subsidies [1] - From January 1, 2025, to August 31, 2025, the company received a total of 2.319 billion yuan in renewable energy subsidy funds, representing a 232.23% increase compared to the same period last year, and accounting for 169.77% of the total subsidies received in 2024 [1] - The national renewable energy subsidy funds amounted to 2.252 billion yuan, showing a 258.60% increase year-on-year, and constituting 182.64% of the total national subsidies received in 2024 [1] Impact on Cash Flow and Operations - The recovery of renewable energy subsidy funds is expected to improve the cash flow of the company's photovoltaic power stations, leading to a positive impact on future operations [1] - The subsidy funds have been recognized as revenue in the corresponding fiscal year upon electricity sales, indicating that this repayment will not have a significant impact on the company's profit and loss for the fiscal year 2025 [1]