Summary of Conference Call on Photovoltaic Industry's Anti-Competition Measures Industry Overview - The conference focused on the photovoltaic (PV) industry, particularly discussing the recent anti-competition measures and market dynamics within the sector [1][2]. Key Points and Arguments 1. **Market Recovery and Policy Support**: The market has shown a positive recovery, driven by recent policy announcements aimed at eliminating barriers to a unified national market and addressing excessive competition [1][2]. 2. **Formation of Industry Alliances**: 17 leading companies in the silicon material sector are forming a coalition to stabilize prices and reduce production capacity, with expectations to complete this by the end of the year [2][3]. 3. **Price Recovery Indicators**: The third quarter has shown signs of improvement in the PV supply chain, particularly due to the recovery in prices of silicon materials, which is expected to continue as production cuts are anticipated in November [3][4]. 4. **Impact of Policy Changes**: The introduction of stricter regulations against below-cost pricing has led to a significant increase in silicon prices, from around 30,000 to over 50,000 [6][15]. 5. **Performance of Key Companies**: Major companies like Xiexin and Tongwei reported significant improvements in their financial performance in Q3, indicating a recovery in the industry [8][18]. 6. **Investment Recommendations**: Analysts recommend focusing on companies with strong cyclical attributes in the silicon material and PV glass sectors, including Tongwei, Daqo, and Xiexin [9][23]. 7. **Technological Advancements**: The industry continues to see technological progress, which is expected to create a competitive edge for companies that can innovate and maintain high margins [9][20]. 8. **Long-term Market Dynamics**: The anticipated supply-side reforms in the silicon sector are expected to lead to a more balanced supply-demand situation, which will benefit downstream companies and prevent a return to cutthroat competition [19][21]. Additional Important Insights - **Regulatory Environment**: The government's commitment to creating a unified market and addressing local protectionism is crucial for the long-term health of the PV industry [7][22]. - **Market Sentiment**: The recent media coverage and government announcements have sparked renewed investor interest and optimism regarding the anti-competition measures [2][4]. - **Financial Health of the Sector**: Many companies are showing signs of financial recovery, with improved profit margins and reduced losses compared to previous quarters [8][22]. This summary encapsulates the key discussions and insights from the conference call regarding the photovoltaic industry's current state and future outlook, emphasizing the importance of policy support and industry collaboration in fostering a healthier market environment.

Core Insights - The company reported a significant improvement in Q3 performance, with a net profit of -155 million yuan, a 38.05% reduction in losses compared to the same period last year, and a 10.42% year-on-year increase in revenue to 2.018 billion yuan [1] - The overseas sales ratio has become a key growth driver, with expectations to exceed 50% by Q3 2025, significantly up from 23.85% for the entire year of 2024 [1] - The company has optimized its capital structure, enhancing financial stability, with a debt ratio of 74.14% by the end of Q3 following a successful Hong Kong listing [1] Group 1 - The company is advancing its overseas production capacity, with a local battery project in Turkey expected to start shipments by late 2025 to early 2026, targeting the U.S. and European markets [2] - The Oman 5GW project is being approached cautiously due to international trade policies and equity structure issues, reflecting a rational decision-making process in the current geopolitical climate [2] Group 2 - The solar industry is experiencing consolidation, with increasing concentration driven by supply-side reforms and anti-competition policies, positioning the company favorably within the market [3] - The company is enhancing its production efficiency for N-type batteries and achieving leading results in TBC pilot tests, with perovskite tandem cell lab efficiency reaching 32.08% [3] - The company has adjusted its profit forecasts for 2025 and 2026 due to intense competition leading to significant price declines, projecting net profits of -389 million yuan and 502 million yuan for 2025 and 2026, respectively [3]

Group 1 - The fifth meeting of the fifth board of directors of Hainan Junda New Energy Technology Co., Ltd. was held on October 31, 2025, via telecommunication voting, with all 10 directors participating [2][3]. - The board approved the appointment of Mr. Zhou Xiaohui as the new Chief Financial Officer (CFO), effective from the date of the board's approval until the end of the current board's term [3][5]. - The decision to appoint the new CFO was reviewed and approved by the board's audit committee and nomination committee prior to the board meeting [4]. Group 2 - The resignation of the previous CFO, Ms. Huang Falian, was accepted due to personal work arrangements, and her resignation will not affect the company's normal operations [9]. - Ms. Huang held 50,331 shares in the company and will comply with regulations regarding the reduction of shareholdings after her departure [9]. - Mr. Zhou Xiaohui, the newly appointed CFO, has a background in investment and financing, previously serving as the deputy general manager at a related company since December 2019 [12].

Core Viewpoint - JunDa Co., Ltd. has appointed Mr. Zhou Xiaohui as the new Chief Financial Officer, as approved by the board of directors [1] Group 1 - The board of directors of JunDa Co., Ltd. has officially announced the hiring of Mr. Zhou Xiaohui [1]

Core Viewpoint - JunDa Co., Ltd. announced the resignation of its Chief Financial Officer, Huang Falian, due to personal work arrangements, and appointed Zhou Xiaohui as the new CFO, effective immediately upon board approval [1] Company Summary - JunDa Co., Ltd. reported that its revenue composition for the first half of 2025 is as follows: photovoltaic cell products account for 99.79% of total revenue, while other businesses contribute 0.21% [1] - As of the report date, JunDa Co., Ltd. has a market capitalization of 12.4 billion yuan [1] Industry Summary - The news highlights a broader industry issue regarding negative electricity prices, questioning why power plants are reluctant to shut down despite not making profits from electricity sales [1]

Core Viewpoint - The company announced the resignation of its Chief Financial Officer, Huang Falian, due to personal work arrangements, and appointed Zhou Xiaohui as the new CFO [1] Group 1 - Huang Falian submitted a written resignation report and will not hold any position in the company or its subsidiaries after her resignation [1] - The board of directors approved the appointment of Zhou Xiaohui as the new CFO during the fifth meeting of the fifth board session held on October 31, 2025 [1] - Zhou Xiaohui's term as CFO will last until the current board's term expires [1]

Core Viewpoint - JunDa Co., Ltd. has announced the resignation of its Chief Financial Officer, Huang Fa Lian, due to personal work relocation, and the appointment of Zhou Xiao Hui as the new CFO effective from October 31, 2025 [1] Group 1 - The company has received a resignation letter from Huang Fa Lian [1] - Zhou Xiao Hui has been appointed as the new CFO [1] - The term of the new CFO will last until the current board's term ends [1]

Core Viewpoint - JunDa Co., Ltd. has announced the resignation of its Chief Financial Officer, Huang Fa Lian, due to personal work relocation, and the appointment of Zhou Xiao Hui as the new CFO effective from October 31, 2025, until the current board's term ends [1] Group 1 - The company has received a resignation letter from Huang Fa Lian [1] - Zhou Xiao Hui has been appointed as the new CFO [1] - The new CFO's term will last until the end of the current board's term, which is the fifth board [1]

Core Viewpoint - JunDa Co., Ltd. has announced the resignation of its Chief Financial Officer, Huang Fa Lian, due to personal work relocation, and appointed Zhou Xiao Hui as the new CFO effective from October 31, 2025, until the current board's term ends [1] Group 1 - The company has received a resignation letter from Huang Fa Lian, the CFO [1] - Zhou Xiao Hui has been appointed as the new CFO [1] - The new CFO's term will last until the current board's term expires [1]

证券代码：002865 证券简称：钧达股份 公告编号：2025-079 海南钧达新能源科技股份有限公司 关于公司财务总监辞职暨聘任财务总监的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有 虚假记载、误导性陈述或重大遗漏。 一、财务总监辞职情况 二、聘任财务总监情况 经公司总经理张满良先生提名，董事会提名委员会、董事会审计委员会进行 任职资格审查并审议通过，公司于 2025 年 10 月 31 日召开第五届董事会第五次会 议，审议通过了《关于聘任财务总监的议案》，董事会同意聘任周小辉先生（简历 附后）为公司财务总监，任期自本次董事会审议通过之日起至本届董事会任期届 满之日止。 三、备查文件 海南钧达新能源科技股份有限公司（以下简称"公司"）董事会近日收到公司 财务总监黄发连女士的书面辞职报告，黄发连女士因个人工作安排，申请辞去公 司财务总监职务，辞职后不在公司或子公司担任任何职务。 根据《公司法》《深圳证券交易所上市公司自律监管指引第 1 号——主板上市 公司规范运作》及《公司章程》有关规定，黄发连女士的辞职报告自送达董事会 之日起生效。黄发连女士原定任期为 2025 年 7 月 31 日 ...