12, the Shanghai Stock Exchange issued a regulatory warning decision on Shuangliang Energy Conservation and related responsible persons.

The warning letter showed that in the afternoon of the same day, Shuangliang Energy Conservation released the news that "the company has obtained SpaceX related orders" through the official WeChat, which affected the company's share price in 10 minutes, closing at 10.71 yuan per share, with a total market value of 20.1 billion yuan on that day.
However, after the market, Shuangliang Energy Conservation issued a supplementary announcement to clarify that the company did not cooperate directly with SpaceX, but only supplied to an industrial gas enterprise as a non-exclusive supplier, which was indirectly involved in aerospace related projects.
The Shanghai Stock Exchange pointed out that when the company released information on overseas orders involving "commercial aerospace", it did not specify the key information such as the mode of supply, the scale of sales and the small impact on the company's overall operation, nor did it fully indicate the uncertainty of subsequent orders, which easily misled investors'decision-making. It was not until after the supervision and supervision that the company issued a supplementary announcement that the relevant information disclosure was inaccurate, incomplete, and the risk warning was inadequate.
Accordingly, the Management Department of Listed Companies on the Shanghai Stock Exchange issued a regulatory warning to Yang Likang, the timely secretary of the board of directors of Shuangliang Energy Conservation, and required the company, directors and executives to effectively rectify the violations and submit a rectification report within one month. At the same time,
the Shanghai Stock Exchange stressed that "commercial aerospace" is a hot concept of great concern in the current market, and listed companies should adhere to the principles of prudence, accuracy and objectivity in releasing relevant information, fully prompt uncertainty risks, and prevent misleading investors.
In the supplementary announcement, Shuangliang Energy Conservation also disclosed other major risk matters. In terms of
performance, the company has made it clear that it will continue to lose money in 2025. According to the previous performance forecast, the net profit of the company in 2025 is expected to lose 780 million yuan to 1.06 billion yuan, and the net profit of the company after deduction is expected to lose 800 million yuan to 1.15 billion yuan.
Shuangliang Energy Conservation wanted to boost the stock price with the help of the "space photovoltaic " hot spot, but it received a regulatory warning because of the irregular disclosure of information. On February 13, the company's share price hit the limit at the opening , and its market value evaporated by more than 2 billion in a single day .
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