On August 7, Kaisheng Xinneng announced that the company had recently received a decision on administrative supervision measures from the Henan Regulatory Bureau of the CSRC (hereinafter referred to as the "warning letter"). According to the
warning letter, as of May 8, 2026, Kaisheng Xinneng had accumulated 333 million yuan in litigation and arbitration for 12 consecutive months , reaching 10.73% of the absolute value of the latest audited net assets. The company did not make supplementary disclosure until June 29 , 2026, and the relevant information disclosure was not timely.
According to relevant regulations, Henan Securities Regulatory Bureau decided to take supervision and management measures to issue warning letters to the company and its chairman Xie Jun, general manager Chen Peng and board secretary Chen Hongzhao, and record them in the integrity files of the securities and futures market.
In response, Triumph Xinneng immediately issued a rectification report announcement the next day, indicating that it had conducted a comprehensive self-examination and rectification of the internal control process and information disclosure management involved. According to
public information, Kaisheng Xinneng was founded in August 1996 and belongs to China Building Materials Group . The company is mainly engaged in the research and development, production and sales of new energy materials. Its main products include photovoltaic cell packaging materials for solar equipment, such as front panel glass (ultra-white embossed glass) for solar photovoltaic modules , back panel glass for photovoltaic double-glass modules , etc.
By the end of 2025, Kaisheng Xinneng has established eight intelligent photovoltaic glass production bases in East, Central, North and Southwest China, covering six provinces and eight cities in Henan, Anhui, Jiangsu, Hebei, Sichuan and Fujian. The production capacity of photovoltaic glass sheets in production is 6100 tons per day . In terms of
performance, according to the company's performance forecast for the first half of 2026, Kaisheng Xinneng expects a net profit loss of 753 million yuan to 890 million yuan for the first half of 2026; It is estimated that the non-net profit loss in the first half of 2026 will be 756 million yuan to 895 million yuan .
For the current performance pre-loss, Triumph Xinneng explained that, firstly, in the first half of the year, the photovoltaic glass market showed a grim situation of weak demand and bottoming price, the price of photovoltaic glass continued to bear pressure, and the price was at a low level for a long time in the first half of the year; secondly, the company made provision for impairment of assets with signs of impairment.
It is worth noting that as early as 2024-2025, Kaisheng Xinneng has realized losses for two consecutive years, with a cumulative loss of more than 1.5 billion yuan . The sum of profits in advance of 6 years. In 2024, the net profit loss of the company is 609.9 million yuan ; by 2025, the company will continue to lose 914.3 million yuan .
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