Summary of Key Points
On July 2nd, the new energy giant China Resources New Energy (CRNE) made its debut on the main board of the Shenzhen Stock Exchange (SZSE), becoming the largest IPO in terms of fundraising volume in SZSE history. The stock price soared on the first day, but the profit from purchasing one lot was relatively low compared to other new shares this year. On the same day, another leading new stock, Jihechang, also experienced a significant increase in value. Overall, the performance of new shares this year has been significantly better than last year, with a strong profit-making effect.
1. China Resources New Energy: The Largest IPO on the SZSE Board
CRNE is the "biggest" new stock on the SZSE board this year. With an issue price of RMB 10.11 per share, the stock price rose to a maximum of RMB 30.16 (an increase of nearly 200%) after opening, triggering a temporary suspension of trading. The final closing price was RMB 23.95, representing a gain of 137%. The total trading volume for the day amounted to RMB 17.7 billion. Based on the closing price, purchasing one lot (500 shares) would earn RMB 6,920, which is considered low compared to other new shares this year (for example, Jihechang generated a profit of RMB 26,000 from purchasing one lot on the same day).
The company raised RMB 24.5 billion in funds, surpassing the record set by Jinlongyu in 2020, making it the largest IPO in SZSE history. It is also the second red-chip enterprise to list on the SZSE (with its registration in Hong Kong and main operations in China), with a total market value of RMB 311.5 billion at closing time, ranking 47th among A-share companies.
2. China Resources New Energy: Wind Power as the Main Business, with Growing Solar Energy Presence
CRNE is the dedicated new energy platform of China Resources Power, operating in 31 provinces and cities across the country, focusing on the investment, development, and operation of wind and solar power plants. By the end of 2025, its installed capacity is expected to reach 41.5899 million kilowatts (2.26% of the national total), including 27.63 million kilowatts from wind power (4.32%) and 13.95 million kilowatts from solar power (1.16%).
In terms of revenue structure, wind power is the main source of income (82.39% in 2025), with the proportion of solar energy increasing from 7.61% in 2023 to 17.61% in 2025. The funds raised this time will be used primarily for building new energy bases, multi-energy complementary projects, and green ecological initiatives.
3. China Resources New Energy: Stable Revenue but Declining Profits
Although CRNE's revenue has remained relatively stable over the past few years (from RMB 20.5 billion to RMB 22.9 billion), profits have been declining: RMB 8.28 billion in 2023, RMB 7.95 billion in 2024 (a decrease of 3.95%), and RMB 6.1 billion in 2025 (a decrease of 23.28%). The decline in profits is due to several factors: poor weather conditions in the first quarter (less wind and solar energy), power rationing leading to reduced power generation and sales; lower electricity prices; and increased costs associated with the expansion of the installed capacity.
4. Jihechang: A Small Leader with a Dramatic Rise
On July 2nd, another new stock, Jihechang (listed on the Beijing Stock Exchange), also saw a significant increase in value. With an issue price of RMB 8.52 and a closing price of RMB 61.05, the stock price rose by 617%, generating a profit of RMB 26,000 from purchasing one lot. Jihechang is a leader in the production of chemical products for the semiconductor and new energy sectors, making it a niche but highly profitable company, which is why its stock price soared on the first day.
5. Overall Performance of New Stocks This Year
To date, 73 new stocks have been listed in 2026, raising a total of RMB 95.3 billion (with CRNE accounting for RMB 24.5 billion, more than one-fifth of the total). By sector, the main board has seen the largest amount of fundraising (RMB 53.4 billion); geographically, new stocks from Zhejiang, Jiangsu, and Guangdong provinces are most numerous; issue prices range from RMB 6.4 to RMB 92.
The performance on the first day was particularly impressive, with an average increase of 282.52%, significantly higher than the same period last year (230%). Fifty-eight new stocks rose by more than 100%, and eleven rose by more than 500%. Five stocks even generated a profit of over RMB 100,000 from purchasing one lot (for example, Lianxun Instruments earned RMB 358,600). Overall, the profit-making effect this year is much stronger than last year.
This news article provides detailed information about the listing of CRNE and reflects the current enthusiasm in the new stock market. It also clearly illustrates the opportunities for investors to participate in new share offerings and the varying performance of different companies.