Group 1 - Multiple listed companies have announced expected losses for the year 2025, including Yijing Optoelectronics, China Shipbuilding Technology, Jiyou Co., Zhangyue Technology, Sinochem International, and Guo Xin Energy [1][2][3] - Yijing Optoelectronics expects a net profit attributable to shareholders to be negative, with losses anticipated to exceed the audited net assets from the previous year, potentially resulting in negative net assets by the end of 2025 [1] - China Shipbuilding Technology also forecasts a negative net profit for 2025, indicating a decline in operational performance [2] - Jiyou Co. reported a total profit of -4.1498 million yuan and a net profit attributable to shareholders of -5.9747 million yuan for the first nine months of 2025, with expectations of negative profits for the entire year [2] - Zhangyue Technology anticipates a negative net profit for 2025 based on preliminary financial assessments [3] - Sinochem International faces significant challenges due to a continuous decline in market prices for key products, with a reported net profit of -1.331 billion yuan by the end of Q3 2025, and expects losses for the full year [3] - Guo Xin Energy predicts a negative net profit for 2025, attributing the decline to industry cycle fluctuations and changes in the market environment [3]

(本文来自第一财经) 亿晶光电公告，经公司财务部门初步测算，预计2025年度归属于上市公司股东的净利润为负值，2025年 度经营业绩将出现亏损，且亏损金额预计将会超过上一年度经审计的净资产，公司2025年度期末净资产 可能为负值。 ...

人民财讯1月7日电，亿晶光电（600537）1月7日公告，预计2025年度归属于上市公司股东的净利润为负 值，2025年度经营业绩将出现亏损，且亏损金额预计将会超过上一年度经审计的净资产，公司2025年度 期末净资产可能为负值。 ...

证券代码：600537 证券简称：亿晶光电 公告编号：2026-001 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 经亿晶光电科技股份有限公司(以下简称"公司")财务部门初步测算，预计 2025 年度归属于上市公司股东的净利润为负值，2025 年度经营业绩将出现亏损， 且亏损金额预计将会超过上一年度经审计的净资产，公司 2025 年度期末净资产 可能为负值。 公司将严格遵循《上海证券交易所股票上市规则》等相关规定，加快推进财 务核算工作，尽快披露 2025 年度业绩预告。最终财务数据请以公司正式披露的 2025 年年度报告为准。 敬请投资者理性投资，注意投资风险。 亿晶光电科技股份有限公司 2025 年度业绩预亏的提示性公告 特此公告。 亿晶光电科技股份有限公司 董事会 2026 年 1 月 8 日 1 ...

每经AI快讯，1月7日，亿晶光电（600537）(600537.SH)公告称，经公司财务部门初步测算，预计2025 年度归属于上市公司股东的净利润为负值，2025年度经营业绩将出现亏损，且亏损金额预计将会超过上 一年度经审计的净资产，公司2025年度期末净资产可能为负值。 ...

亿晶光电公告，预计2025年度归属于上市公司股东的净利润为负值，2025年度经营业绩将出现亏损，且 亏损金额预计将会超过上一年度经审计的净资产，公司2025年度期末净资产可能为负值。公司将加快推 进财务核算工作，尽快披露2025年度业绩预告。 ...

Core Viewpoint - The recent disputes surrounding the 10.3 billion yuan photovoltaic project by Yijing Photovoltaic, which has stalled, reflect the concentrated outbreak of cyclical contradictions in the industry as the year ends [1][10]. Group 1: Project Overview - Yijing Photovoltaic announced plans in September 2022 to invest in a large-scale project in Quanjiao County, Anhui, with a total investment of 10.3 billion yuan, including a 5 billion yuan investment for the first phase of a 10GW high-efficiency N-type TOPCon photovoltaic battery project [4][12]. - The project was initiated in November 2022, with initial progress meeting expectations, but it faced significant setbacks due to a downturn in the photovoltaic industry, leading to only 7.5GW of the planned capacity being realized [5][13]. Group 2: Financial Challenges - As of the third quarter of 2025, Yijing Photovoltaic reported total assets of 5.317 billion yuan and liabilities of 5.063 billion yuan, resulting in a debt-to-asset ratio of 95.24%, significantly higher than the industry average [6][14]. - The company experienced a substantial decline in revenue, with total operating income of 1.556 billion yuan, a year-on-year decrease of 42.58%, and a net loss of 214 million yuan [6][14]. Group 3: Legal and Governance Issues - Yijing Photovoltaic is currently facing multiple legal challenges, with 23 ongoing lawsuits and arbitration cases amounting to 71.163 million yuan, which represents 14.3% of the company's audited net assets for 2024 [6][14]. - The company entered a state of having no actual controlling shareholder in September 2025, following the exit of its former major shareholder, which raises concerns about its governance and operational stability [7][15]. Group 4: Industry Context - The disputes involving Yijing Photovoltaic are not isolated; there has been a rise in conflicts between photovoltaic companies and local state-owned enterprises, reflecting deeper issues within the industry during this adjustment period [8][16]. - Experts suggest that these disputes stem from a combination of cyclical fluctuations in the photovoltaic industry, reckless expansion by companies, and inadequate risk assessment by local governments during investment attraction [8][16].

Core Viewpoint - The consequences of blind expansion in the solar industry are becoming evident, as Yijing Photovoltaic faces potential recovery of 140 million yuan due to failure to fulfill investment agreements for its Chuzhou solar project [1][3]. Group 1: Company Situation - Yijing Photovoltaic has received a hearing notice from the management committee of the Quanjiao Economic Development Zone, indicating that the company did not fully comply with prior agreements, leading to project delays and potential recovery of investment funds [3]. - The company initially planned to invest in a project with an annual capacity of 10GW for solar cells, 10GW for solar wafers, and 10GW for solar modules, which was approved in October 2022 and began construction in November 2022 [3][4]. - Due to industry challenges, including a significant drop in solar component prices from 1.8-1.9 yuan/W at the beginning of 2023 to below 1 yuan/W by the end of the year, Yijing Photovoltaic has only completed 7.5GW of the planned capacity for its solar cell project [4][5]. Group 2: Industry Context - The solar industry is experiencing a downturn, with a structural mismatch in capacity and declining operational rates, leading to widespread losses among solar component manufacturers [5]. - The trend of local governments pursuing repayment from companies for unfulfilled investment agreements is becoming more common, as seen with other companies like *ST Mubang and Bangjie Co., which faced similar situations due to project delays [5][6].

Core Viewpoint - The consequences of blind expansion in the photovoltaic industry are becoming evident, as Yijing Photovoltaic faces potential recovery of 140 million yuan due to failure to fulfill investment agreements [2][4]. Company Summary - Yijing Photovoltaic announced that it received a hearing notice from the management committee of the Quanjiao Economic Development Zone, indicating a potential recovery of 140 million yuan in project investment due to non-fulfillment of agreements [2][4]. - The cooperation between Yijing Photovoltaic and Quanjiao County dates back to September 2022, with plans to invest in a project with an annual capacity of 10GW for photovoltaic cells, slices, and modules [4][5]. - The project was approved in October 2022 and construction began in November 2022, with production starting in July 2023 [4][5]. - The project faced delays and challenges due to a mismatch in industry capacity and a downturn in the photovoltaic market, leading to only 7.5GW of the planned capacity being realized [5][6]. Industry Summary - The photovoltaic industry is experiencing a significant downturn, with prices for photovoltaic components dropping from 1.8-1.9 yuan/W at the beginning of 2023 to below 1 yuan/W by the end of the year, and further declining to below 0.6 yuan/W in 2024 [5][6]. - The industry is witnessing a trend where local governments are pursuing recovery of funds from companies that fail to meet project commitments, as seen in cases like *ST Mubang and Bangjie Co., which faced similar financial penalties for project delays [6][7].

Core Viewpoint - The article discusses the ongoing repercussions of blind capacity expansion in the photovoltaic (PV) industry, highlighting the case of Yijing Photovoltaic (600537.SH) facing administrative actions due to failure to fulfill investment agreements, potentially leading to the recovery of 140 million yuan in project funding [1][5]. Group 1: Company-Specific Issues - Yijing Photovoltaic has received a hearing notice from the management committee of the Quanjiao Economic Development Zone, indicating that the company failed to fully comply with prior agreements, resulting in the potential recovery of 140 million yuan in project funding [5]. - The collaboration between Yijing Photovoltaic and the Quanjiao Economic Development Zone dates back to September 2022, with plans to invest in a project with an annual capacity of 10GW for solar cells, slices, and modules [6]. - The project faced delays and challenges, with only 7.5GW of the planned capacity being realized by 2023, while the remaining phases have not commenced due to industry-wide issues [7]. Group 2: Industry Trends - The photovoltaic industry is experiencing a significant downturn, with component prices dropping dramatically from 1.8-1.9 yuan/W at the beginning of 2023 to below 1 yuan/W by the end of the year, and further declining to below 0.6 yuan/W in 2024 [7]. - The industry is witnessing a shift from high growth to a phase of clearing out excess capacity, with multiple companies facing similar challenges regarding project fulfillment and financial liabilities [8]. - Other companies, such as *ST Mubang and Bangjie Co., have also faced repercussions for halted projects, indicating a trend of local governments pursuing financial recoveries from companies that fail to meet investment commitments [8].