Stock price rollercoaster, Laplace clarifies: Has not received Tesla’s 10-billion photovoltaic order
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A market rumor about a hundred-billion-yuan order triggered dramatic volatility in Laplace’s stock price, and the company’s subsequent clarification announcement put an abrupt halt to the speculation.
On the morning of April 1, some media reported that Laplace had won the bid for Phase II of Tesla’s photovoltaic project, with the order amount close to 10 billion yuan. The news drove a rapid surge in the stock, which hit the daily limit, and closed at noon with an increase of 19.99%.
However, at noon Laplace urgently issued a clarification, stating clearly: "As of now, the company has not obtained the relevant order." After trading resumed in the afternoon, the stock price plunged, and gains quickly narrowed to around 11.85%.
The company warned investors in the announcement: "Recently, the company’s stock price has risen greatly, there is a risk of overheated market sentiment and irrational speculation, and we cannot rule out the risk of a rapid short-term pullback in the stock price."
Rumor triggers daily limit, clarification announcement halts surge
Around 10:50 am on April 1, Laplace’s share price surged instantly and quickly hit the daily limit. According to Jiemian News, the rumor claimed the company recently won the bid for Phase II of Tesla’s photovoltaic project, with an order size of nearly 10 billion yuan.
At noon, Laplace’s board issued a clarification announcement, explicitly denying the rumor, saying that after verification the company has not obtained the relevant order, nor is there any significant information that should be disclosed but hasn’t been. The announcement emphasized that there have been no major changes to the company’s fundamentals, and all significant information is subject to announcements published on the Shanghai Stock Exchange website and designated media; investors are reminded not to believe or spread unverified rumors.
After the market reopened in the afternoon, Laplace’s stock price suddenly plunged, and the gains shrank sharply from nearly 20%.
Rumor background: Tesla’s $2.9 billion photovoltaic equipment procurement plan
The rumor did not come out of nowhere; behind it lies broader market expectations.
According to a March 20 article on Wallstreetcn, Tesla is seeking to purchase photovoltaic manufacturing equipment worth about $2.9 billion (approximately 20 billion yuan) from Chinese suppliers to support Musk’s goal of adding 100 GW of solar manufacturing capacity in the United States.
The report said that Suzhou Maxwell is one of the main candidate suppliers for manufacturing equipment for the project, while other Chinese companies reportedly in talks include Jiejia Weichuang and Laplace. The news at the time drove a broad rally across A-share and Hong Kong photovoltaic stocks.
Tesla’s decision to source equipment from China is driven by a complex interplay of U.S. electricity supply-demand and trade policy. According to the U.S. Energy Information Administration (EIA), U.S. electricity usage is set to reach a new record for the second consecutive year in 2025, and will continue to rise over the next two years.
From Laplace’s own fundamentals, the company’s performance is under pressure in 2025. According to the company’s earnings report released on February 26, Laplace’s total revenue in 2025 reached 5.459 billion yuan, down 4.69% year-on-year; net profit attributable to shareholders was 612 million yuan, down 16.07% year-on-year.
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