Lixin New Energy Warns of Speculation, Power Price Risk After 8-Day Rally; H1 Net Profit Up 570%-793%

On July 27, Lixin New Energy (001258. SZ) hit the daily limit at 14.33 yuan, achieving seven limit-ups in eight trading days, with a market value of 13.4 billion yuan. On the evening of July 26, the company issued an announcement on abnormal stock trading fluctuations and severe abnormal fluctuations, stating that from July 15 to July 24, the cumulative deviation of its closing price increase over eight consecutive trading days reached 106.82%.

Lixin New Energy indicated that electricity prices are showing a short-term 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 electricity prices. If the scale of market trading further expands and electricity prices continue to decline, 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 generation projects. Lixin New Energy disclosed its performance forecast for the first half of 2026, expecting net profit attributable to shareholders of the listed company of 60 million yuan to 80 million yuan, an increase of 570.26% to 793.68% compared with the same period in 2025.

The significant year-on-year improvement in first-half 2026 performance was mainly due to the gradual grid connection and commissioning of the 'Xinjiang-to-external grid third-channel' power generation project owned by its associate, Xinjiang Huadian Tianshan Power Generation Co. , Ltd. , which led to a substantial increase in investment income. During the reporting period, the company received 71.49 million yuan in new energy subsidy recoveries, an increase of 59.05 million yuan from the same period last year, correspondingly reversing 20.15 million yuan in credit impairment losses.

In July, power grid loads in multiple regions continued to 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 battery-swapping service industry surged 56.9% year on year, while electricity consumption in internet data services grew 44.0%.