Deny Tesla's billion-dollar order, "20CM" limit-up Laplace's stock price plunges | Intraday quick report

Reporter******|Du Yu******

Editor******|Cheng Peng to Jiang Lin Proofreader**|Zhang Jinhe****************

On the morning of April 1, media reports said that Laplace (688726), a provider of core process equipment and solutions for domestic photovoltaic cell wafers, recently won the second phase of Tesla’s photovoltaic project, with an order value of nearly RMB 10 billion. In early trading, the company’s share price surged momentarily at around 10:50 and quickly hit the daily limit. As of the midday close, Laplace was trading at RMB 65.84 per share, up 19.99%.

Midday, Laplace issued an emergency clarification announcement stating that, after verification, as of now the company has not obtained the relevant orders, there is no undisclosed material information that should be disclosed, and if it meets the information disclosure standards in the future, it will strictly fulfill its information disclosure obligations in accordance with relevant laws and regulations.

“Fundamentals of the company have not undergone major changes. The company’s stock price has risen significantly in the recent period. There is a risk that market sentiment is overheating and that the stock may be subject to irrational speculation. We do not rule out the risk of a rapid short-term pullback in the stock price. Investors participating in trading may face substantial risks.” Laplace said.

According to the company’s performance pre-announcement released on February 26, Laplace achieved total operating revenue of RMB 5.459 billion in 2025, down 4.69% year over year; net profit attributable to shareholders was RMB 612 million, down 16.07% year over year; after deducting non-recurring items, net profit attributable to shareholders was RMB 494 million, down 18.45% year over year; basic earnings per share were RMB 1.51, down 22.96% from the same period last year.

At the end of 2025, Laplace’s total assets were RMB 10.489 billion, up 3.75% from the beginning of the period; shareholders’ equity attributable to the parent company was RMB 4.065 billion, up 15.36% from the beginning of the period; and net assets per share attributable to shareholders of the parent company were RMB 10.03, up 15.42% from the beginning of the period.

After the midday opening on April 1, Laplace’s share price plunged instantly. As of the time of this release, the gain had narrowed to 10.73%.

(Disclaimer: The contents and data in this article are for reference only and do not constitute investment advice. Please verify before using. Any action taken is at your own risk.)

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