The current cyclical adjustment of the photovoltaic industry has caused the stock price performance of the-share related sectors to continue to be sluggish.

Wind photovoltaic index shows that as of June 26, the index has fallen 13.18 this month, a new low in nearly three years. It is worth noting that the market value of head photovoltaic enterprises has shrunk significantly. The latest market value of sunshine power supply (300274.SZ) and Longji Green Energy (601012.SH) closed at 133.1 billion yuan and 111.1 billion yuan respectively. Tongwei shares (600438.SH), Jingke Energy (688223.SH), TBEA (600089.SH) followed closely, the latest market value of 89.5 billion yuan, 73.6 billion yuan, 69.8 billion yuan.

Poor stock price performance has made some photovoltaic companies sit still. On the evening of June 25, Trine Solar (688599.SH) issued an announcement to push the buyback program.

21st century business herald reporter noted that only in June this year, Tongwei shares, Longji shares, Xiexin Integration (002506.SZ), Lin Yang Energy (601222.SH) and other photovoltaic companies increased their holdings or bought back their shares.

the worst photovoltaic stock market value is less than 0.5 billion yuan

The "internal volume" of the industry has spread to the stock market, which has made the-share photovoltaic sector suffer a severe setback in the past two years.

Two phenomena are more conspicuous: on the one hand, the market value of leading photovoltaic companies has fallen sharply, and there are only 2 companies with a market value of 100 billion; on the other hand, the number of ST companies has increased, and 3 photovoltaic companies have locked their face value and delisted.

According to statistics from 21st Century Business Herald reporters, as of the close of June 26, a total of 15 stocks in the-share photovoltaic sector have fallen by more than 50% this year. ST shares bear the brunt, the first to suffer capital abandonment. ST Yili (600277.SH), ST Linda (300125.SZ), ST Hanggao (002665.SZ), ST Aikang (002610.SZ) and ST Sunshine (600220.SH) share prices have fallen more than 80% since the beginning of the year, while ST Yili, ST Aikang and ST Sunshine have entered the delisting process and their shares have been suspended.

The reporter noticed that the delisting of par value has become the biggest risk faced by some A- share companies, so some photovoltaic companies have also implemented stock price "self-help". For example, * ST Jiayu (300117.SZ)'s stock price plummeted to 0.72 yuan per share at the end of May and early June this year, but since then the company's stock price has continued to rise, standing above 1 yuan per share. However, the game between the long and short sides is fierce. As of the close of June 26, the company's stock price has fallen to 0.88 yuan per share, which has been below 1 yuan per share for three consecutive trading days.

in the downturn, the number of "1 yuan" and "2 yuan" photovoltaic stocks surged. Correspondingly, 12 photovoltaic companies have a market value of less than 2 billion yuan. Among them, ST Linda has become the photovoltaic company with the smallest market value of A shares, only 0.49 billion yuan.

"The shutdown of the core subsidiary's production line has hit ST's main revenue, and the capital markets have lost confidence in it." A brokerage analyst on the twenty-first Century economic report reporter said.

In fact, not only small and medium-sized photovoltaic companies are currently in the trouble of a sharp decline in market value, but the valuation of head photovoltaic companies is also depressed.

at present, only two photovoltaic companies, yang photoelectric source and Longji green energy, have a market value of more than 100 billion yuan, while the companies with a market value of less than 100 billion but more than 50 billion yuan are tongwei shares, jingke energy, tebian electrician and hesheng silicon industry (603260.SH).

leading photovoltaic companies frequently "protect the disk"

Compared with the previous highlight moment, the current valuation of the-share photovoltaic sector has fallen by 60%.

Wind photovoltaic index shows that as of June 26, the index closed at 2562.66 points, down more than 50.65 in the last three years, with a maximum pullback of 59.94 per cent.

Under the poor market conditions, increasing holdings and repurchases have become common means for major shareholders of photovoltaic companies to "stabilize confidence.

On the evening of June 25, Trina Solar announced a new repurchase plan. Within 12 months after the plan was approved by the board of directors, the company plans to spend 1 billion to 1.2 billion yuan to repurchase up to 1.78 of the company's current total share capital.% Of the shares. The announcement shows that the company will use its own funds to repurchase shares through centralized bidding transactions. All the repurchased shares will be used to convert corporate bonds issued by the company that can be converted into stocks.

It should be mentioned that in the last round of repurchase (May 29, 2023 to May 28, 2024), Trina Solar actually spent about 0.444 billion yuan to repurchase about 13.4916 million shares for employee stock ownership plan or equity incentive. The repurchase price range is between 21.77 yuan/share and 38.12 yuan/share. However, as of June 26, Trina Solar's share price was 17.85 yuan per share, 18% less than the lowest repurchase price.

On the same day, Daquan Energy (688303.SH), another photovoltaic company, issued an announcement that the actual controller would not reduce its holdings of shares-Xu Guangfu, chairman of the company, said that within six months from July 23, 2024 (that is, from July 23, 2024 to January 22, 2025), it would not reduce its direct holdings of the company's shares in any way. As of the announcement date, Xu Guangfu directly holds 0.91 of the shares of Daqo Energy.

In fact, this month, the share prices of many photovoltaic companies hit a new low in the past three years, which has led to the need for photovoltaic companies, including some leading companies, to "protect the disk" and send positive signals.

The 21st Century Business Herald reporter found that three photovoltaic companies have increased their holdings or repurchased their shares this month.

on June 25, Hua hong electronics, the controlling shareholder of linyang energy, increased its stake in the company by 3.4057 million shares, accounting for 0.17 of the company's total share capital, with an increase of 20.9057 million yuan. On June 24, Xiexin Integration repurchased 7.5047 million shares of the company through centralized bidding through the share repurchase account, accounting for 0.1283 of the company's current total share capital, with a total transaction amount of 15.0028 million yuan (excluding transaction costs); June 20, tongwei shares repurchased 5.7699 million shares of the company by means of centralized bidding transaction, with a total amount of about 0.117 billion yuan (excluding transaction fees such as transaction commission); on June 20, Zhong Baoshen, chairman of Longji green energy, also increased his holdings of 800000 shares of the company by means of centralized bidding transaction, with an increase amount of 12.513 million yuan.

"A-share photovoltaic plate 'fell numb', the future still has the value of long-term allocation? For this question, I think the answer depends on whether the industry level bottomed out." An analyst told the 21st Century Business Herald, "Although the current valuation has reached a low level, the photovoltaic sector cannot really bottom out before the fundamentals of the entire photovoltaic industry have reached an inflection point."