Tbea Co Ltd

More than 5 trillion yuan of incremental grid investment during the 15th Five-Year Plan period has officially entered the implementation phase, with distribution network upgrades becoming the largest structural increment in this round of investment. Data from the National Energy Administration shows that grid investment in the first half of this year rose 13.5 percent year on year. State Grid completed fixed asset investment of more than 310 billion yuan, up 12.6 percent year on year, while China Southern Power Grid completed 89.262 billion yuan, up 14.79 percent, the highest level for the same period on record. The National Development and Reform Commission has made clear that it will plan and build a number of transmission corridors and inter-provincial power mutual support projects, and implement three major programs: upgrading urban distribution networks, renovating weak county-level grids, and addressing frequent power outages in rural grids. In the first quarter of 2026, State Grid invested 56.8 billion yuan in distribution networks, already accounting for as much as 55 percent of grid investment at all levels. According to estimates by the National Energy Administration, the 5 trillion yuan of investment will drive total upstream and downstream activity of more than 10 trillion yuan and directly create over one million jobs.

TBEA announced plans to change the purpose of 32.5438 million repurchased but unused shares from "used for employee stock ownership plans or equity incentives" to "used for cancellation and reduction of registered capital." The shares to be cancelled account for 0.64% of the company's current total share capital. After the cancellation, total share capital is expected to decrease from 5.053 billion shares to 5.020 billion shares. The repurchase originated from a buyback plan launched in November 2022, with an actual average repurchase price of 18.44 yuan per share and total funds used of 600 million yuan. The company stated the move aims to enhance shareholder returns, improve long-term investment value, and boost investor confidence.

The China Photovoltaic Industry Association cost accounting model officially took effect on July 27. The State Administration for Market Regulation held its first compliance guidance meeting on July 31, marking the arrival of the first quantifiable tool against industry involution and clarifying the path for raising bidding floor prices. Guojin Securities noted that these guidelines represent a key step for solar industry governance to move from self-regulatory initiatives toward standardization and institutionalization, which is expected to shift companies from price wars to quality competition and promote high-quality development in the solar sector. In addition, the policy window for distributed consumption solutions such as station-area energy storage and green power direct connection has arrived. On August 3, the mainstream price of 2.0 mm coated glass in the East China market rose 1.17% from the previous trading day. As of 9:30 a.m. on August 3, the CSI Photovoltaic Industry Index gained 0.52%, and the Penghua Solar ETF rose 0.56% to 0.54 yuan, with intraday turnover reaching 1.0588 million yuan.