On April 8, 2025, Longi Green Energy (601012.SH) Chairman Zhong Baoshan took proactive measures to support the company’s stock by purchasing an additional 1.05 million shares through the Shanghai Stock Exchange, amounting to approximately 15.01 million yuan. Before this acquisition, Zhong held 104.6 million shares, representing 1.38% of the company’s total equity.
This round of stock buying was first announced in November 2024, when Longi revealed that Zhong planned to invest no less than 100 million yuan in company shares over the following year. As of today, Zhong has invested a total of 86.94 million yuan.
Longi Green Energy is a leading player in the photovoltaic manufacturing sector, ranking among the top two in silicon wafer market share and within the top four for module shipments. In 2022, the company’s market capitalization exceeded 500 billion yuan. However, as the investment fervor for photovoltaics has waned, the market cap dipped below 100 billion yuan in July 2024. As of April 8, 2025, the company’s stock has rebounded by 2.4%, bringing its market cap back to 110 billion yuan.
In response to the fluctuating stock price, Zhong Baoshan has initiated continuous share purchases to convey a positive outlook. In October 2023, Longi announced that the chairman aimed to buy between 100 million yuan and 150 million yuan worth of shares within a year. By October 30, 2024, Zhong had accumulated 6.29 million shares through his previous purchase plan, which accounted for 0.08% of the company’s total shares and totaled 101 million yuan in investment. Shortly after, a new plan was disclosed for Zhong to continue purchasing at least 100 million yuan in shares starting November 25, 2024. So far, his total investment across both rounds has reached approximately 188 million yuan.
According to company representatives, this increase in shareholding reflects Zhong’s confidence in the long-term value of Longi Green Energy. Regarding the impact of U.S. tariffs, the company stated that it has established a joint venture with Invenergy to build a 5 GW solar module factory in Ohio, primarily producing PERC modules, which have been in high demand.
In the short term, the U.S. factory will continue to utilize PERC production capacity to meet market demand, but there are plans to gradually incorporate BC technology to maintain competitiveness in the long run. On a global scale, Longi’s representatives mentioned that over the past two years, regions such as the Middle East and Africa have shown rapid growth, which are now focal points for the company’s development. Longi’s sales strategy is spread globally, preventing heavy reliance on any single market.
In addition to Longi Green Energy, several other energy companies have signaled positive intentions through share buyback or acquisition announcements. Dezhou Co., Ltd. (605117.SH) announced a plan to repurchase between 100 million yuan and 200 million yuan of shares to support employee stock ownership plans. In the energy sector, PetroChina disclosed intentions to increase shareholdings by no less than 2.8 billion yuan, while Sinopec (600028.SH) plans to invest between 2 billion yuan and 3 billion yuan. Collectively, these two companies could contribute up to 8.6 billion yuan in share purchases.
Moreover, China National Nuclear Corporation (601985.SH) and China Shenhua (601088.SH) have also announced plans for capital injections or buybacks. Today, China Huaneng Group affirmed its commitment to encourage its listed subsidiaries to actively pursue stock buybacks, with Inner Mongolia Huadian (600863.SH) already announcing its buyback plan.
