Abrupt termination! Heterojunction Rookie 2 Billion Fixed Increase Fails!

6, Jingang Photovoltaic announced the termination of the issuance of a shares to specific targets in 2023. On May 5,

2023, Diamond Photovoltaic announced its plan to issue A-shares to specific targets in 2023, and planned to raise no more than 2 billion yuan from specific targets. Used for construction of annual output of 4.8G W high-efficiency heterojunction battery and 1.

the controlling shareholder of the company, Ouhao Group .". Different from the first version of the fixed increase plan, the amount of fixed increase is directly reduced from the initial no more than 2 billion yuan to 5-10. The raised funds are only used to supplement liquidity and repay loans .

This move was also criticized by investors on the investment interactive platform in October." Question. In response to queries, King Kong Photovoltaic only replied: "The company is working with intermediaries to actively promote the work related to fixed growth, and if there is significant progress, the company will disclose it in a timely manner."

Shouting fixed increase for half a year, unexpectedly hit the "muzzle"

from the initial release of the fixed increase plan to the termination of the fixed increase, nearly half a year, King Kong Photovoltaic has not submitted the application documents, perhaps not do not want to, but really "hit the muzzle". According to

the data, on August 27, the Securities Regulatory Commission issued the "Regulatory Arrangements for Balancing and Optimizing IPO and Refinancing in the Primary and Secondary Markets of Securities Co-ordination", which requires that the advantages and disadvantages be highlighted, and that the financing interval and scale of listed companies with break-out, break-out, sustained loss of operating performance and high proportion of financial investment be appropriately restricted. At present

, King Kong Photovoltaic is in a state of breaking, breaking net and continuous loss of operating performance.

It is understood that Jingang Photovoltaic was listed on the Shenzhen Stock Exchange in 2010 at an initial price of 16.2 yuan per share, while as of November 7, 2023, the share price of Jingang Photovoltaic has fallen to 15. In the first three quarters of 2023, the basic earnings per share was-0.

The stock price was green and the performance was green.

King Kong Photovoltaic has been in a loss for five consecutive years, and the loss is still expanding . According to its three quarterly report, revenue in the first three quarters of 2023 reached 401 million yuan , an increase of 36.48% over the same period last year; However, the net profit loss in the first three quarters was 173 million yuan . Year-on-year increase in losses 16.

However, after years of performance losses, the company's cash flow is in an emergency, and its liabilities are rising year after year. The annual report of 2022 shows that by the end of December 2022, the asset-liability ratio of Jingang Photovoltaic has reached 97. The continuous increase of photovoltaic heterojunction production capacity can only rely on external financing. Unfortunately, he hit the "muzzle".

Although King Kong Photovoltaic said in the announcement, the termination of the fixed increase will not affect the company's operation and development. However, some media in the industry believe that after the loss of the additional funds, the capital gap caused by the large-scale expansion of the heterojunction industry may be further increased.

Terminating the fixed increase or becoming a common practice? How should enterprises deal with themselves? Since the second half of the year, three photovoltaic companies have announced the termination of their fixed increase plans, and the explanations have tacitly mentioned market changes.On July 12,

2023, Yijing Optoelectronics announced that it would withdraw its plan to increase the company's shareholder's energy by 1.3 billion yuan; On August 1, 2023, Ganjing Garden announced the termination of the fixed increase to Guosheng Energy. 4

. Previously, the Secretary of a listed company said to the media that the Secretary of a listed company said to the media that "the leading well-known enterprises in the market are often" hard to get a ticket ". Fixed share depends on grabbing, but some small and medium-sized enterprises are in a more difficult situation, if they can not send out, they can only give up. But now, both well-known leading enterprises and unknown small and medium-sized enterprises have been forced to terminate the fixed increase, which reflects the dilemma behind the photovoltaic industry since this year.

In the if they do not finance, they will lag behind, and if they do not expand production, they will be beaten . After

experiencing round after round of expansion climax, "overcapacity" is deeply shrouded in the industry. Although there are still authoritative people in the industry who emphasize that photovoltaic production capacity is not excessive, the price of photovoltaic product chain continues to fall, and the performance of some enterprises declines rapidly. They are conveying to the outside world that the "involution" of the photovoltaic industry has reached a "morbid" level. Under

such circumstances, it is time for investors and photovoltaic companies to "calm down".