Jinko Power Technology Co Ltd

Penghua STAR New Energy ETF and Penghua ChiNext New Energy ETF both gained more than 1.3%, as the 15th Five-Year Plan for the construction of new power systems jointly issued by the National Development and Reform Commission and the National Energy Administration boosted the new energy sector. The plan proposes that by 2030, the new power system will be preliminarily established, with non-fossil fuel power generation accounting for 50% of the total, and a new power grid with a capacity of 2.8 billion kilowatts will be initially built. As of 10:25 a.m. on August 4, 2026, the SSE STAR New Energy Index rose 1.55% to 1.37 yuan, Penghua STAR New Energy ETF rose 1.37% to 1.18 yuan, and Penghua ChiNext New Energy ETF rose 1.42% to 1.36 yuan. Guorong Securities noted that State Grid will focus on key areas such as ultra-high voltage flexible DC transmission to ensure the outbound transmission and consumption of clean energy from large bases, and manufacturers of ultra-high voltage equipment and distribution network equipment are expected to see development opportunities. Penghua STAR New Energy ETF tracks the SSE STAR New Energy Index, which selects 50 securities with large market capitalization from the STAR Market in sectors such as photovoltaics, wind power, and new energy vehicles. The top ten holdings include Haibo Sichuang, Trina Solar, and Jinko Energy, accounting for a combined 46.18%.

On July 23, the A-share power sector was active again, with Lixinnengyuan strongly securing six consecutive daily limit-ups, Xinneng Shares and Xinzhonggang both achieving two consecutive daily limit-ups, and stocks such as Shimao Energy, Huadian Liaoneng, Chuanneng Dongli, and Jinko Technology also collectively surging. Behind the market heat is the climbing electricity load this summer. In July, electricity loads on power grids in many regions continued to hit historical peaks. The maximum load on the Jiangsu power grid reached 157.59 gigawatts, Zhejiang reached 133 gigawatts, and the national maximum load reached 1.551 billion kilowatts, exceeding the historical extreme of 1.508 billion kilowatts set on July 17, 2025. The National Development and Reform Commission expects that this summer the national maximum electricity load will reach 1.6 billion kilowatts, an increase of 90 million kilowatts year-on-year, and the peak summer power supply guarantee has entered a critical period. In the medium to long term, new economic formats have become an important increment in electricity consumption growth. In June, total electricity consumption in society was 898.1 billion kilowatt-hours, a year-on-year increase of 3.7 percent, of which electricity consumption by high-tech and equipment manufacturing industries was 112.1 billion kilowatt-hours, a year-on-year increase of 10.3 percent, and the growth rates of electricity consumption in charging and battery swap services and internet data services were as high as 57.1 percent and 41.4 percent respectively. On the policy front, the National Development and Reform Commission has publicly solicited opinions on the 'Management Measures for Medium- and Long-Term Contracts for Energy Supply Guarantee', clarifying the definition of medium- and long-term power supply guarantee contracts and the government guidance and supervision framework. Prices for cross-provincial and cross-regional contracts are to be determined through negotiation between the sending and receiving parties based on the principle of 'benefit sharing and risk sharing'. Institutions generally favor the allocation value of the power sector. Great Wall Securities believes that the valuation of leading thermal power companies is at a three-year low and has potential for valuation repair. Sinolink Securities points out that leading coal and power companies have a dividend basis and are both offensive and defensive. CICC believes that the fundamentals of the distributed photovoltaic operation sector have bottomed out and long-term investment value is emerging.