Two-day surge of nearly 34%! "Space Photovoltaic" concept stocks clarify Musk rumors!

On February 4th, Jinko Solar (688223) stock hit the daily limit-up, combined with the previous day’s 13.27% single-day increase, resulting in a nearly 34% rise over two trading days.

On the evening of the 4th, the company announced that because the cumulative deviation of the closing prices over three consecutive trading days (February 2, 2026, February 3, 2026, and February 4, 2026) reached 30%, according to the “Shanghai Stock Exchange Trading Rules” and the “Shanghai Stock Exchange STAR Market Stock Abnormal Trading Real-Time Monitoring Rules,” this constitutes an abnormal fluctuation in stock trading.

Public information shows that Jinko Solar is a solar technology enterprise. The company strategically focuses on the core links of the photovoltaic industry chain, emphasizing integrated R&D and manufacturing of photovoltaic products and comprehensive clean energy solutions, leading global mainstream photovoltaic markets in sales. The company has pioneered a “vertical integration” capacity from silicon wafers and cells to modules, with over 10 global manufacturing bases in China, the United States, Southeast Asia, and the Middle East.

Regarding production and operations, Jinko Solar states that after self-inspection, current production and business activities are normal with no significant changes. The market environment and industry policies have not undergone major adjustments, and the company’s internal production and operational order are normal.

Additionally, after self-inspection and written confirmation from the company’s actual controller and controlling shareholder, as of the disclosure date of this announcement, aside from information already publicly disclosed in designated media, there are no major issues affecting the company’s stock trading price fluctuations; there are no other significant matters involving the company that should be disclosed but have not been disclosed, including but not limited to planning mergers and acquisitions, share issuance, debt restructuring, or business restructuring.

The announcement mentions that market rumors suggest Elon Musk’s team recently visited several Chinese photovoltaic companies in secret, and the company has had contact with Musk’s inspection team. Verified information indicates that, to date, the company has not engaged in any cooperation with related teams nor signed any framework or formal agreements, and currently has no orders on hand.

The company has noted that recent capital market attention to concepts like “space photovoltaics” has been high, and related sectors have shown active performance in the secondary market. Currently, “space photovoltaics” is still in the preliminary technological exploration stage, and industrialization is affected by factors such as technological development, industry policies, and market environment. Future technological applications and industrialization will still require a certain time cycle. As of now, the company’s main business products remain focused on ground-based photovoltaics, with no orders related to “space photovoltaics,” and no impact on the company’s operating performance. Investors are advised to exercise rational judgment.

Regarding business conditions, Jinko Solar warns of risks, stating that the company’s main photovoltaic module products are primarily used in ground-based photovoltaic fields, with no significant changes in main application scenarios. The company’s order acquisition is influenced by industry demand, price trends, technological development stages, policy environment, and downstream customer competitiveness. Accounts receivable collections are affected by the financial status of downstream customers. The photovoltaic industry is currently undergoing a phase of deep adjustment due to supply and demand imbalance. Investors should be aware of potential risks from this deep industry adjustment. The company’s stock price has experienced significant short-term fluctuations. The company especially reminds investors to be cautious of investment risks, make rational decisions, and invest prudently.

Recently, Jinko Solar disclosed a performance forecast indicating that, based on preliminary calculations by the finance department, the net profit attributable to the parent company for 2025 is expected to be between -6.9 billion and -5.9 billion yuan; the net profit after deducting non-recurring gains and losses is expected to be between -7.8 billion and -6.7 billion yuan.

Regarding the significant loss, Jinko Solar also stated that during the reporting period, global photovoltaic industry chain prices fluctuated more intensely, coupled with disruptions from overseas market trade protection policies, putting overall pressure on profitability across all segments of photovoltaic module integration. Facing industry volatility, the company adheres to prudent management and technological leadership, launching the industry-leading new generation “Feihu 3” high-efficiency module products, and continuously upgrading capacity and technology. Meanwhile, energy storage business has achieved rapid development, with notable benefits from solar and storage synergy. However, during the reporting period, the overall prices of photovoltaic modules remained low, and the shipment proportion of high-power products was still relatively low. Based on prudence, the company conducted impairment tests on long-term assets showing signs of impairment and, after careful evaluation, recognized asset impairment provisions according to accounting standards, which impacted performance and resulted in an overall operating loss for the year.

Looking ahead to 2026, the industry is expected to move toward a high-quality development stage centered on technology and quality, with supply and demand relationships likely to rebalance more quickly. The company will also strengthen its advantages in technological innovation and globalization, striving to achieve high-quality development.