Lixin New Energy Hits Limit-Up at RMB14.33, Warns of Speculation and Tariff Risk; H1 Profit Up 570%-793%

On July 27, Lixin New Energy (001258. SZ) saw its share price hit the daily limit-up, closing at RMB14.33, achieving seven limit-ups in eight trading days, with a market value of RMB13.4 billion. On the evening of July 26, the company issued an announcement regarding abnormal and severely abnormal stock trading fluctuations, stating that from July 15 to July 24, the cumulative deviation of closing price gains over eight consecutive trading days reached 106.82%.

Lixin New Energy stated that electricity tariffs are currently on a downward trend. Affected by policy factors such as the deepening of power system reform and the phase-out of renewable energy subsidies, new energy power has fully entered the electricity market for trading, with the proportion of market-traded electricity continuing to rise. Spot and medium-to-long-term market prices are influenced by supply-demand dynamics and bidding mechanisms, leading to a short-term decline in tariffs. If market-based trading scale further expands and tariffs continue to fall, the company's average on-grid electricity price faces downside risk. The company's main business is the investment, development, construction, and operation of wind power and photovoltaic power projects. The company disclosed its performance forecast for the first half of 2026, expecting net profit attributable to shareholders of listed companies of RMB60 million to RMB80 million, an increase of 570.26% to 793.68% compared with the same period in 2025.

The significant year-on-year improvement in H1 2026 performance is mainly attributable to the gradual grid connection and commissioning of the "Xinjiang Power Transmission" third-channel power generation project owned by the associate company Xinjiang Huadian Tianshan Power Generation Co. , Ltd. , which led to a substantial increase in investment income. During the reporting period, the company received RMB71.49 million in new energy subsidy payments, an increase of RMB59.05 million from the same period last year, and correspondingly reversed RMB20.15 million in credit impairment losses.

In July, power grid loads in multiple regions repeatedly hit historical peaks. The maximum load of Jiangsu Power Grid reached 157.59 million kilowatts, Zhejiang reached 133 million kilowatts, and the national maximum load reached 1.551 billion kilowatts. In the first half of the year, electricity consumption in the charging and swapping service industry surged 56.9% year-on-year, while internet data service electricity consumption increased 44.0%.