Group 1 - The core viewpoint of the article highlights that Jinyang New Energy (01121) experienced a nearly 10% increase in early trading, currently up 8% at HKD 1.89, with a transaction volume of HKD 977,100 [1] - Changjiang Securities released a report indicating that this year's photovoltaic equipment orders are still constrained by the slowdown in industry expansion trends, but the proactive expansion by leading BC manufacturers and the relatively high value of single GW will provide order resilience [1] - It is expected that BC expansion will reach 50-60 GW this year, with a focus on the application of TOPCon+ technology and the demand for BC expansion [1] Group 2 - In September 2024, Jinyang New Energy established a joint venture with Junshi Energy and Longi Green Energy (601012) to upgrade four PERC production lines at Longi's Xi'an aerospace industrial base to HBC production lines [1] - Additionally, in April 2025, Jinyang New Energy announced a joint venture with Fujian Jinshi (Junshi Energy) and Yiwu Jinko to upgrade 4 GW of PERC capacity to HBC capacity, with Jinyang New Energy providing the HBC battery patent technology usage rights for the joint venture [1]

Core Viewpoint - Jinyang New Energy (01121) has seen a significant stock price increase, rising nearly 10% in early trading, attributed to positive market sentiment and strategic partnerships in the photovoltaic sector [1] Industry Summary - The photovoltaic equipment orders are currently constrained by a slowdown in industry expansion trends, but leading BC manufacturers are actively expanding, which is expected to provide order resilience [1] - It is projected that BC expansion will reach 50-60 GW this year, indicating a strong demand for high-quality, high-efficiency products despite restrictions on capacity expansion [1] - The industry is focusing on the application of TOPCon+ technology and the demand for BC expansion [1] Company Summary - In September 2024, Jinyang New Energy will establish a joint venture with Junshi Energy and Longi Green Energy to upgrade four PERC production lines at Longi's Xi'an Aerospace Industrial Base to HBC production lines [1] - By April 2025, Jinyang New Energy will announce a partnership with Fujian Jinshi and Yiwu JA Solar to upgrade 4 GW of PERC capacity to HBC capacity, with Jinyang providing HBC battery patent technology rights to the joint venture [1]

Group 1 - The core viewpoint of the article highlights the positive performance of Jinyang New Energy, which has seen its stock price increase by over 7%, currently trading at 1.48 HKD [1] - Jinyang New Energy will hold a board meeting on August 29 to approve its mid-term performance [1] - According to Kaiyuan Securities, Aiko Technology achieved profitability in the second quarter, indicating a recovery in the photovoltaic industry despite widespread losses [1] Group 2 - The article notes that the BC technology has realized excess returns, and with the ongoing "anti-involution" in the photovoltaic industry, prices along the supply chain are expected to recover in the second half of the year [1] - Jinyang New Energy plans to disclose an announcement in September 2024 regarding a joint venture with Juneng Power and Longi Green Energy to upgrade four PERC production lines at Longi's Xi'an Aerospace Industrial Base to HBC production lines [1] - Additionally, in April 2025, Jinyang New Energy will announce a joint venture with Fujian Jinshi and Yiwu Jinko to upgrade 4GW of PERC capacity to HBC capacity, with Jinyang providing the patent technology for HBC batteries [1]