Core Viewpoint - TCL Zhonghuan, known as a leader in the silicon wafer industry, has forecasted a net profit loss of 8.2 billion to 9.6 billion yuan for 2025, indicating a slight improvement compared to the previous year's loss of 9.818 billion yuan [1][2]. Financial Performance - The expected net profit loss for 2025 is between 820 million to 960 million yuan, compared to a loss of 981.836 million yuan in the same period last year [2]. - The anticipated loss for the adjusted net profit (excluding non-recurring gains and losses) is projected to be between 860 million to 980 million yuan, down from a loss of 1.090 billion yuan in the previous year [2]. - For the first three quarters of 2025, the company reported a net profit loss of 5.777 billion yuan, with an estimated loss of approximately 2.423 billion to 3.823 billion yuan in the fourth quarter, significantly widening from a loss of 1.534 billion yuan in the third quarter [2]. Industry Context - Despite an increase in new photovoltaic installations, the overall supply and demand remain imbalanced, causing the industry to linger at the bottom of the cycle. Product prices in the main supply chain are adjusting at low levels, which continues to pressure the company's operations [2][3]. Operational Strategy - The company is focusing on improving operational management efficiency, optimizing product structure, and driving technological innovation while maintaining cost control and organizational changes to enhance competitive strength [3]. - The company reported positive operating cash flow during the reporting period [3]. Corporate Developments - The CFO of TCL Zhonghuan, Zhang Changxu, has submitted his resignation from the CFO position but will continue as a board member and take on the role of Senior Vice President, focusing on power station business and assisting the CEO with strategic projects [4]. - As of January 13, the company's stock price closed at 8.83 yuan per share, down 3.29%, with a total market capitalization of approximately 35.701 billion yuan, reflecting a 7% increase in stock price over the past year [4].

Group 1 - Nvidia has received a regulatory easing from the US for exporting H200 chips to China, and the company clarified it will not require customers to pay for undelivered products despite previous rumors of strict payment terms [2] - Rongbai Technology signed a procurement agreement with CATL worth over 120 billion yuan for lithium iron phosphate cathode materials, expected to supply 3.05 million tons from Q1 2026 to 2031, positively impacting future performance [2] - Microsoft is integrating ChatGPT into Office 365 to enhance productivity and collaborating with Walmart to strengthen AI recommendation systems on its e-commerce platform, reinforcing its position in enterprise software and cloud computing [2] Group 2 - Debon Logistics plans to voluntarily delist, with a cash option registration date set for February 6, 2026, and the stock will resume trading on January 14, 2026, aiming to optimize its capital structure [5] - Fulin Precision plans to raise 3.175 billion yuan through a private placement to CATL at 13.62 yuan per share for a project to produce 500,000 tons of high-end energy storage lithium iron phosphate, deepening cooperation in the new energy sector [5] - Baiwei Storage expects a net profit of 850 million to 1 billion yuan in 2025, a year-on-year increase of 427.19% to 520.22%, driven by recovering demand in the storage chip market [5][6] Group 3 - TCL Technology anticipates a net profit growth of 169% to 191% in 2025, primarily due to improved profitability in its semiconductor display business and rapid development in the new energy photovoltaic sector [3] - TCL Zhonghuan expects a net loss of 8.2 billion to 9.6 billion yuan in 2025, a reduction from a loss of 9.818 billion yuan the previous year, with positive operating cash flow [6] - Pudong Development Bank projects a net profit of 50.017 billion yuan in 2025, a year-on-year increase of 10.52%, driven by improved asset quality and steady growth in intermediary business income [7]

Group 1 - The company expects a negative net profit for the fiscal year 2025, indicating ongoing financial challenges [1] - The solar industry continues to experience an imbalance in supply and demand, with product prices remaining low, which puts pressure on the company's operations [2] - The company is focusing on improving operational efficiency, optimizing product structure, and driving technological innovation to enhance its competitive position [2] Group 2 - The company maintains a positive operating cash flow during the reporting period, which is a sign of financial stability despite the challenges [2] - The company is committed to strengthening its photovoltaic materials business and enhancing the competitiveness of its new energy battery components [2] - The company aims for significant operational improvement by 2026 through a focus on technology innovation, product development, and quality enhancement [2]

Group 1: Shanghai Pudong Development Bank - The bank reported a net profit of 50.017 billion yuan for 2025, an increase of 10.52% year-on-year [1][2] - Total operating income reached 173.964 billion yuan, reflecting a growth of 1.88% compared to the previous year [2] - The bank's total assets exceeded 1 trillion yuan, reaching 1,008.1746 billion yuan, a 6.55% increase from the previous year [3] Group 2: Dongpeng Beverage - Dongpeng Beverage expects a net profit between 4.34 billion and 4.59 billion yuan for 2025, representing a year-on-year growth of 30.46% to 37.97% [4] - The anticipated operating income is projected to be between 20.76 billion and 21.12 billion yuan, indicating a growth of 31.07% to 33.34% [4] Group 3: TCL Technology - TCL Technology forecasts a net profit of 4.21 billion to 4.55 billion yuan for 2025, marking a significant increase of 169% to 191% year-on-year [5][6] - The company expects to surpass 100 billion yuan in operating revenue, with net profit exceeding 8 billion yuan [5] Group 4: Changjiang Electric Power - Changjiang Electric Power reported a net profit of 34.167 billion yuan for 2025, a 5.14% increase year-on-year [8] - The total operating revenue for the year is expected to be 85.882 billion yuan, reflecting a growth of 1.65% [8] Group 5: China Gold - China Gold anticipates a net profit of 286 million to 368 million yuan for 2025, a decrease of 55% to 65% year-on-year [21] - The decline is attributed to market fluctuations and reduced consumer traffic [21] Group 6: LaKala - LaKala expects a net profit between 1.06 billion and 1.2 billion yuan for 2025, representing a growth of 202% to 242% year-on-year [22] - The increase is primarily due to significant investment income from stock holdings [22] Group 7: Baiwei Storage - Baiwei Storage projects a net profit of 850 million to 1 billion yuan for 2025, indicating a year-on-year increase of 427% to 520% [23] - The growth is driven by improved sales and gross margins in the AI sector [23] Group 8: Shengxin Lithium Energy - Shengxin Lithium Energy forecasts a net loss of 600 million to 850 million yuan for 2025, similar to the previous year's loss [24] - The company attributes the loss to industry supply-demand dynamics and increased exchange losses [24] Group 9: Zhongguancun Online - Zhongguancun Online expects a net loss of 580 million to 700 million yuan for 2025, a significant increase from the previous year's loss of 243 million yuan [25] - The losses are linked to increased promotional investments in overseas markets [25] Group 10: Huaxia Happiness - Huaxia Happiness anticipates a net loss of 16 billion to 24 billion yuan for 2025, a substantial increase from the previous year's loss of 4.817 billion yuan [26] - The decline is due to reduced project turnover and high financial costs [26]

Group 1 - The company TCL Zhonghuan (002129.SZ) forecasts a net loss attributable to shareholders of between 8.2 billion to 9.6 billion yuan for the fiscal year 2025 [1] - The photovoltaic industry continues to experience growth in new installed capacity, but overall supply and demand remain imbalanced, indicating that the industry is still at the bottom of the cycle [1] - The main product prices in the industry chain are adjusting at low levels, and the transmission of these price changes is insufficient, leading to continued operational pressure on the company [1]

Group 1 - The company TCL Zhonghuan (002129.SZ) forecasts a net loss attributable to shareholders of between 8.2 billion to 9.6 billion yuan for the year 2025 [1] - The photovoltaic industry continues to experience growth in new installed capacity, but overall supply and demand remain imbalanced [1] - The industry is still hovering at the bottom of the cycle, with product prices in the main supply chain adjusting at low levels and insufficient transmission of costs [1]

Core Viewpoint - TCL Zhonghuan has projected a significant net profit loss for 2025, indicating ongoing challenges in the photovoltaic industry due to supply-demand imbalance and low product prices [1] Company Summary - TCL Zhonghuan expects a net profit loss of between 82 billion to 96 billion yuan for 2025, compared to a loss of 98.18 billion yuan in the previous year [1] - The company anticipates a loss of 86 billion to 98 billion yuan for net profit after deducting non-recurring items [1] Industry Summary - The photovoltaic industry continues to experience growth in new installed capacity, but the overall supply-demand situation remains unbalanced [1] - The industry is still at the bottom of the cycle, with main product prices adjusting at low levels and insufficient transmission of cost changes [1] - The company's operations are under continued pressure due to these industry conditions [1]

人民财讯1月13日电，TCL中环（002129）1月13日发布业绩预告，预计2025年净利润亏损82亿元—96亿 元，上年同期亏损98.18亿元。报告期内，光伏新增装机量保持增长，但整体供需仍持续失衡，行业继 续在周期底部徘徊，主产业链的产品价格在低位调整且传导不足，公司经营继续承压。 ...

证券代码：002129 证券简称：TCL 中环 公告编号：2026-004 TCL 中环新能源科技股份有限公司 2025 年度业绩预告 本公司及董事会全体成员保证信息披露内容的真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 一、本期业绩预计情况 1、业绩预告期间：2025 年 1 月 1 日-2025 年 12 月 31 日 | 项目 | 2025 | 年 1-12 月 | | 上年同期 | | | --- | --- | --- | --- | --- | --- | | 归属于上市公司股东的 净利润 | 亏损：820,000.00 | 万元～960,000.00 | 万元 | 亏损：981,836.49 | 万元 | | 扣除非经常性损益后的 净利润 | 亏损：860,000.00 | 万元～980,000.00 | 万元 | 亏损：1,090,034.43 | 万元 | | 基本每股收益 | 亏损：2.0535 | 元/股～2.4041 | 元/股 | 亏损：2.4629 | 元/股 | 2、预计的业绩：预计净利润为负值 1 业务布局及全球化营销能力，以技术创新、产品研发和质量提升为导向，提升 ...

Core Viewpoint - TCL Zhonghuan's stock price has shown fluctuations, with a recent decline of 2.09% and a total market capitalization of 36.024 billion yuan, indicating a mixed performance in the market [1]. Financial Performance - For the period from January to September 2025, TCL Zhonghuan reported a revenue of 21.572 billion yuan, reflecting a year-on-year decrease of 4.48%. However, the net profit attributable to shareholders was -5.777 billion yuan, which represents a year-on-year increase of 4.70% [2]. Shareholder Information - As of November 30, 2025, the number of shareholders for TCL Zhonghuan reached 254,000, an increase of 4.25% from the previous period. The average circulating shares per person decreased by 4.08% to 15,905 shares [2]. Dividend Distribution - Since its A-share listing, TCL Zhonghuan has distributed a total of 2.338 billion yuan in dividends, with 1.373 billion yuan distributed over the past three years [3]. Institutional Holdings - As of September 30, 2025, the second-largest circulating shareholder is Hong Kong Central Clearing Limited, holding 119 million shares, an increase of 6.3283 million shares from the previous period. Other notable institutional shareholders include Huatai-PB CSI 300 ETF and E Fund CSI 300 ETF, both of which have seen a decrease in their holdings [3].