According to Jin10, Xinneng issued an unusual-movements announcement after its stock closed more than 20% higher in cumulative deviation over the two trading days on August 10, 2026 and August 11, 2026, meeting the Shenzhen Stock Exchange rules for abnormal stock trading volatility. The company said renewable energy power has fully entered electricity market trading under the deepening power-sector reform and the phaseout of renewable energy subsidies, with the share of market-based traded electricity continuing to rise, and that spot and medium- to long-term electricity prices are affected by supply, demand, and the bidding mechanism, leaving short-term electricity prices on a downward trend. It added that if the scale of market-based trading expands further and electricity prices keep falling, the company’s average on-grid electricity price could decline, which would hurt operating results. Xinneng also said recent share-price swings were mainly driven by market speculation and sentiment tied to summer peak electricity demand expectations, while its daily production and operations and internal and external business environment have not changed materially, leaving the stock at risk of a rapid pullback and sharp volatility.