Recently, Jolywood disclosed its first quarter report for 2024. The company achieved revenue of 1.288 billion yuan in the first quarter of 2024, a year-on-year decrease of 52.43%; The loss was 172 million yuan, turning from profit to loss.
Jolywood was listed on the Growth Enterprise Market (GEM) in September 2014, and the company raised more than 2.7 billion yuan through IPO, convertible bonds and private placements.
Bread Finance analysis found that Jolywood received a number of fines in 2021. In November 2021, Jolywood received a fine from the Shenzhen Stock Exchange due to abnormal fluctuations in its stock price due to information disclosure violations.
Revenue in the first quarter fell by more than 50% year-on-year, turning from profit to loss
Jolywood's main business involves cells, modules, power stations and components in the main material industry chain, and some auxiliary materials in the component links of the auxiliary material industry chain, which is in the middle and lower reaches of the entire photovoltaic industry chain.
Jolywood is one of the 50 constituent stocks of the CSI PV Industry Index.
In 2023, Jolywood will achieve revenue of 12.259 billion yuan, a year-on-year increase of 28.01%; The net profit attributable to the parent company was 527 million yuan, a year-on-year increase of 31.18%.
In the first quarter of 2024, Jolywood achieved revenue of 1.288 billion yuan, a year-on-year decrease of 52.43%; The loss was 172 million yuan, turning from profit to loss. The company said that the decrease in operating income was mainly due to the decrease in the company's sales scale during the reporting period.
Since its listing, it has raised more than 2.7 billion yuan
Jolywood was listed on the Growth Enterprise Market (GEM) in September 2014 with an initial offering of RMB 386 million. Subsequently, the company raised a total of 2.367 billion yuan through convertible bonds and private placements.
The most recent fundraising took place in 2019, Jolywood raised 1 billion yuan through convertible bonds, and the funds were used to increase the capital of Jolywood Solar Technology (Quzhou) Co., Ltd., a wholly-owned subsidiary of the company, to invest in a 1.5GWN monocrystalline bifacial TOPCon cell project with an annual output of 1.5GWN.
He received multiple fines in 2021
According to the statistics of the information reported by the regulatory authorities, Jolywood received a number of fines after its listing.
The most recent fine occurred in November 2021, when the Shenzhen Stock Exchange issued the "Decision on Giving Notification and Criticism to Suzhou Jolywood Photovoltaic New Materials Co., Ltd. and Related Parties" to Jolywood. According to the document, "On June 29, 2021, Jolywood released information related to its cooperation with Huawei through its WeChat official account and the firm's interactive investor relations platform to reply to investors. On June 29 and 30, Jolywood's share price continued to rise and fall and hit the standard of abnormal stock price fluctuations. Jolywood disclosed the "Announcement on Abnormal Fluctuations in Stock Trading" on the evening of June 30 and the "Announcement on the Reply to the Letter of Concern of the Shenzhen Stock Exchange" on the evening of July 4. Among them: 1. The information disclosure on the distributed photovoltaic full-scenario solution for the whole county is inaccurate and incomplete; 2. The information disclosure on the 24-hour green power system is inaccurate and incomplete".
(Article Serial Number: 1790279336897679360)
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