JINGSHENG’s recent market performance
JINGSHENG (SZ:300316) experienced a significant rally on 4 February 2026. The share price surged by 12.97 %, reaching 62.21 CNY – a new 2½‑year high – before the session closed. The move was part of a broader upside in the photovoltaic (PV) and semiconductor equipment sectors, where several listed companies tied to the space‑PV concept posted large gains.
Contextual drivers
| Event | Impact on JINGSHENG | Reason |
|---|---|---|
| Secret visit by Elon Musk’s team to Chinese PV manufacturers | Strong investor sentiment | Media reports (21 St Economy, Interface) highlighted the visit to companies such as TCL Zhonghuan, JINGSHENG, and JinSheng Energy. The focus on heterojunction and perovskite technologies increased demand expectations for crystal‑growth equipment. |
| Rise in the CSI 300 PV index (3.97 % rise, 154 bn CNY turnover) | Positive index correlation | JINGSHENG is a major supplier of crystal‑growth furnaces and ingot‑processing machines, key components for PV production. |
| Sector‑wide gains (e.g., JINGSHENG, ZHENGHUA Energy, ZHUANGYI) | Market‑wide momentum | The 4‑Feb session saw many PV‑related stocks hit 20 % limits or rise 10 %+, supporting a bullish trend for equipment makers. |
| Market‑level rebound (Shanghai Composite back to 4100 points) | Broader equity lift | A 0.85 % rise in the Shanghai Composite reduced downside risk for the PV‑equipment sector. |
Company fundamentals
- Industry: Semiconductors & Semiconductor Equipment
- Primary product line: Crystal‑growing furnaces, ingot‑truncating and grinding integrated machines, silicon float‑zone pullers.
- Key customers: Semiconductor, PV, IGBT power device, LED photoelectron, sapphire window material producers.
- Financial highlights (as of 2026‑02‑03):
- Market cap: 81.29 bn CNY
- Close price: 62.21 CNY
- 52‑week high: 65.90 CNY
- 52‑week low: 25.68 CNY
- P/E ratio: 180.02
- EPS: Not provided in the snapshot but implied to be modest given the high P/E.
Trading activity
- Net buying on 4 Feb: 3.69 bn CNY, the highest among the 68 stocks on the “Tiger‑List.”
- Volume: 62.21 CNY share price represented a 12.97 % single‑day gain; the stock achieved a 2½‑year high.
- Regulatory note: An announcement on abnormal trading activity was filed, confirming normal production and business operations, with no significant changes in the business environment.
Market sentiment and risks
- The rally appears driven largely by speculative interest in the space‑PV narrative rather than a fundamental change in JINGSHENG’s product demand.
- The company’s P/E of 180 suggests valuation compression is largely speculative.
- Any slowdown in PV module manufacturing or a shift away from heterojunction and perovskite technologies could dampen demand for crystal‑growth equipment.
Conclusion
JINGSHENG’s share price rise on 4 Feb aligns with a sector‑wide surge in PV‑equipment stocks, fueled by high‑profile visits from Elon Musk’s team and increased investor enthusiasm for space‑PV concepts. The company’s core products remain essential to the PV and semiconductor supply chains, but its valuation reflects speculative demand. Investors should monitor both the broader PV market trends and any developments in the company’s operational performance.
