Laplace Stock Swings 20% on Denied Tesla Solar Order Rumor

A rumor of a nearly 10 billion RMB solar contract from Tesla Inc. sent shares of Chinese equipment supplier Laplace soaring by almost 20% Monday, highlighting the intense speculation surrounding Tesla's manufacturing expansion and its potential suppliers.

"As of now, the company has not obtained the relevant order," Laplace's board said in an emergency clarification announcement filed to the Shanghai Stock Exchange at midday.

The report, which surfaced in Chinese media Monday morning, claimed Laplace had won the second phase of a photovoltaic project for Tesla. The news triggered a surge in the company's stock, hitting its 19.99% daily limit up before the market's midday break. Following the company's denial, the stock immediately plunged, paring gains to around 11.85% in early afternoon trading.

The market's volatile reaction underscores the high stakes for Chinese equipment manufacturers competing for a piece of Tesla's planned 100 GW solar production ramp-up in the U.S. The automaker is reportedly seeking to purchase around $2.9 billion (20 billion RMB) of photovoltaic production equipment from China, with suppliers like Suzhou Maiwei and Jiejia Weichuang also said to be in talks.

Tesla's $2.9 Billion China Procurement Plan

The speculation is rooted in Tesla's broader strategy to increase its solar manufacturing capacity to meet rising U.S. electricity demand. According to a March 20 report, Tesla is turning to Chinese suppliers for the critical production machinery needed to achieve its goals. This has created a highly sensitive environment where rumors can trigger significant market moves among potential candidates.

Laplace, for its part, has faced recent business headwinds. The company's preliminary earnings report for 2025 showed total operating income of 5.46 billion RMB, a decrease of 4.69% year-over-year, while net profit fell 16.07% to 612 million RMB.

The extreme price swing serves as a stark warning for investors about the risks of trading on unverified information. In its clarification, Laplace cautioned that its stock price has risen significantly recently and is subject to "risks of overheated market sentiment and irrational speculation," and did not rule out the possibility of a sharp decline. The event may also attract regulatory scrutiny of rumor-driven trading in China's A-share market.

This article is for informational purposes only and does not constitute investment advice.