The board of directors and all directors of the company guarantee that there are no false records, misleading statements or major omissions in the content of this announcement, and bear individual and joint responsibility for the authenticity, accuracy and completeness of the content.
Stock trading risk reminder:
● No major changes in fundamentals: The company’s fundamentals have not undergone major changes, the market environment and industry policies have not undergone major adjustments, and production costs and sales have not undergone significant fluctuations. The current volatility of the company’s stock price has deviated from the company’s operating conditions.
● The company does not engage in lithium battery business: The company does not engage in lithium battery business, nor does it plan to engage in lithium battery related business.
● The company does not produce and sell photovoltaic cells and photovoltaic modules: the company’s main business is the manufacture of special equipment, that is, to provide intelligent automated production equipment for photovoltaic cell and photovoltaic module manufacturers. The update cycle of all equipment is about two years. There is no direct relationship between the performance of photovoltaic cell and photovoltaic module manufacturers and the increase in the scale of equipment procurement.
● Industry uncertainty: The photovoltaic industry is greatly affected by industry policies and cyclical fluctuations in the industry. Changes in international trade barriers and domestic trade policies may reduce the willingness of photovoltaic companies to invest in production equipment, thereby affecting the demand for solar photovoltaic equipment products.
● The P/E ratio is significantly higher than the industry average: The company’s current static P/E ratio is 282.84 times, which is significantly higher than the China Securities Regulatory Commission’s special equipment manufacturing static P/E ratio of 42.99 times the recent one-month average and the China Securities New Energy equipment industry static P/E ratio of the recent one-month average 87.49 times.
● High risk of stock gains in the short-term: The company’s stocks have increased by 407.18% since June 1, 2021. The stocks have increased significantly in the short-term, and there may be trading risks.
● Construction risk of raised investment projects: At present, the company has not used non-public offering of stock investment funds to invest in raised investment projects. The research and development and testing of PECVD equipment for high-efficiency photovoltaic heterojunction (HJT) solar cells of raised investment projects will take a long time. Test results There are great uncertainties, and there are also great uncertainties about whether subsequent mass production and batch orders can be generated. In addition, there are currently many companies deploying PECVD equipment projects for photovoltaic heterojunction (HJT) high-efficiency cells, and they may face fierce market competition in the future.
● The risk of shareholder reduction: Beijing Jinchen Yingzhen Enterprise Management Partnership (Limited Partnership), a shareholder holding more than 5% of the company’s shares, intends to reduce the total shareholding of no more than 1,624,350 shares, and the proposed reduction does not exceed 1.4% of the company’s total share capital. The share reduction period is from August 25, 2021 to February 24, 2022. Currently, it is still in the period of share reduction.
In view of the above risk factors, the company especially reminds investors to pay attention to the risks of secondary market transactions, make rational decisions, and invest prudently.
1. The specific circumstances of abnormal stock trading fluctuations
On August 25, August 26, and August 27, 2021, the closing price increase of the company’s stocks has accumulated a deviation of 20% in three consecutive trading days. According to the relevant provisions of the Shanghai Stock Exchange Trading Rules, it is a stock transaction Abnormal fluctuations.
2. The company concerned and verified the relevant situation
(1) Production and operation situation.
After the company’s self-inspection, the company’s current business activities are all normal, the market environment and industry policies have not undergone major adjustments, production costs and sales have not fluctuated significantly, and the internal production and operation order is normal.
(2) Major events.
After inquiring about the company’s controlling shareholders and actual controllers in writing, it is confirmed that as of the disclosure date of this announcement, the company’s controlling shareholders and actual controllers have no major events that affect the company’s stock trading abnormal fluctuations, and there are no other major information that should be disclosed but not disclosed. Including but not limited to major asset restructuring, issuance of shares, listed company acquisitions, debt restructuring, business restructuring, asset divestiture, asset injection and other major matters.
(3) Media reports, market rumors, and hot concepts.
The company’s main business is the manufacture of special equipment, that is, providing intelligent automated production equipment for photovoltaic cell and photovoltaic module manufacturers. The renewal cycle of all equipment is roughly two years. There is no direct relationship between the performance of photovoltaic cell and photovoltaic module manufacturers and the increase in the scale of equipment procurement. The company does not engage in lithium battery business, nor does it plan to engage in lithium battery related business.
(4) Other price-sensitive information.
Upon verification by the company, the company’s directors, supervisors, senior managers, controlling shareholders and persons acting in concert did not buy or sell the company’s stock during the period of abnormal fluctuations in the company’s stock.
3. Relevant risk reminders
(1) Transaction risk in the secondary market
The company’s stock has increased by 407.18% since June 1, 2021. In the short term, the increase has been large and obviously too fast. The current fluctuation of the company’s stock price has deviated from the company’s operating conditions. As of August 27, 2021, the closing price of the company’s stock was RMB 201.30 per share, corresponding to a static P/E ratio of 282.84 times. The P/E ratio is relatively high, which is significantly higher than the CSRC’s special equipment manufacturing industry static P/E ratio of 42.99 times and the China Securities Regulatory Commission. The static price-earnings ratio of the new energy equipment industry is 87.49 times the recent one-month average.
(2) Risks in the progress of major events
1. On July 22, 2021, the company disclosed the “Announcement on the Results of Non-public Issuance of Shares and Changes in Share Capital of Yingkou Jinchen Machinery Co., Ltd.” (Announcement No. 2021-055). At present, the company has received this non-public offering All the funds raised from the public issuance of stocks have not yet used the non-public offering of stock investment funds to invest in the fundraising projects. The non-public issuance of stocks for investment projects is still in the research and development stage. The first PECVD equipment developed for photovoltaic heterojunction (HJT) high-efficiency cells has been shipped to the customer for testing, but the testing process takes a long time, the test results have large uncertainties, and there may be a risk of failure in the development of new technologies , The subsequent mass production and the possibility of batch orders still remain largely uncertain, and it is expected that it will not have an impact on the company’s performance in the short term. In addition, there are currently many companies deploying PECVD equipment projects for photovoltaic heterojunction (HJT) high-efficiency cells, and they may face fierce market competition in the future.
2. On August 4, 2021, the company disclosed the “Announcement on the Share Reduction Plan for Shareholders of Yingkou Jinchen Machinery Co., Ltd.” (Announcement No.: 2021-058). Beijing Jinchen Yingzhen Enterprise, a shareholder of the company holding more than 5% of the shares The management partnership (limited partnership) (hereinafter referred to as “Beijing Jinchen”) intends to conduct centralized bidding transactions within 6 months after 15 trading days from the announcement date of the share reduction plan or from the date of the announcement of the share reduction plan Within 6 months after 3 trading days, the total amount of shares of the company shall not be reduced by more than 1,624,350 shares through legal methods recognized by the Shanghai Stock Exchange, such as block trading, and the proposed reduction shall not exceed 1.4% of the total share capital of the company. The reduction period is 2021 From August 25 to February 24, 2022, currently, it is still in the period of shareholding reduction. Beijing Jinchen’s shareholding reduction plan may not be fully implemented due to factors such as market conditions and the company’s stock price.
(3) Industry risks
The current technical route of high-efficiency photovoltaic power generation is changing rapidly, products and equipment are iterated frequently, and equipment is updated and eliminated relatively quickly, which poses greater challenges to the rapid development of new technologies and equipment. At the same time, for the purpose of protecting the domestic photovoltaic industry, the United States, Europe and other countries continue to provoke trade frictions, which has caused a certain impact on the development of my country’s photovoltaic industry. Although the share of other emerging markets outside the United States is rapidly increasing, it has offset trade to a certain extent. However, China’s photovoltaic industry will still face uncertain risks brought about by changes in international trade barriers and trade policies. With technological progress and other factors, the manufacturing cost of photovoltaic products has dropped rapidly, global de-subsidization and decline have accelerated, countries have adjusted their subsidy policies for the photovoltaic industry, and the market price of photovoltaic modules and market demand may fluctuate. The solar photovoltaic industry is affected by the above-mentioned industry policies and industry cyclical fluctuations, which may lead to a reduction in the willingness of photovoltaic enterprises to invest in production equipment, which in turn affects the demand for solar photovoltaic equipment products.
In view of the above risk factors, the company especially reminds investors to pay attention to the risks of secondary market transactions, make rational decisions, and invest prudently.
4. Statement of the board of directors and commitments of related parties
The board of directors of the company confirmed that the company did not have any undisclosed matters that should be disclosed in accordance with the “Stock Listing Rules” and other relevant provisions, or the planning, negotiation, intention, agreement, etc. related to such matters, and the board of directors has not been informed of the “Stock Listing Rules”. ”And other relevant regulations that should be disclosed but not disclosed and may have a greater impact on the trading prices of the company’s stocks and derivatives; there is no need to correct or supplement the information disclosed by the company in the previous period.
Special announcement.
Yingkou Jinchen Machinery Co., Ltd.
Board of Directors
August 27, 2021Return to Sohu to see more
Editor:
Disclaimer: The opinions of this article only represent the author himself. Sohu is an information publishing platform. Sohu only provides information storage space services.
.