Jolywood(300393) 证券时报网·2025-01-22 10:29Core Viewpoint - Suzhou Zhonglai Photovoltaic New Materials Co., Ltd. (hereinafter referred to as Zhonglai) anticipates a significant decline in net profit for 2024 due to the cyclical adjustment in the photovoltaic industry and a drop in product prices, despite efforts to reduce costs and improve efficiency [1] Group 1: Company Performance and Strategy - In 2024, Zhonglai plans to implement inventory write-downs and asset impairment provisions, which will further impact net profit [1] - The company maintains a strong strategic focus, continuously optimizing products and innovating technologies across its business segments [1] - Zhonglai remains a global leader in photovoltaic backsheet products, achieving the highest shipment volume for four consecutive years by introducing transparent backsheet products [1] Group 2: Technological Advancements - Zhonglai has adhered to N-type technology for photovoltaic cells and components, achieving industry-leading mass production and laboratory conversion efficiencies with its N-type TOPCon cells [2] - The company has collaborated with the University of New South Wales to validate its proprietary JSIM technology, which significantly enhances the conversion efficiency of TOPCon cells and improves their performance under humid and hot conditions [2] - In 2024, Zhonglai launched the "N-type all-glass one-stop packaging solution," which combines performance advantages and accelerates the market promotion of its Yufeng components globally [2] Group 3: Market Expansion - Zhonglai is accelerating its global expansion in 2024, signing contracts for large-scale projects in regions such as Xinjiang, Tibet, Uzbekistan, and several European countries, showcasing its competitive strength in the global market [2] Group 4: Industry Outlook - The photovoltaic industry is currently facing challenges regarding supply and demand, with calls from the China Photovoltaic Industry Association to prevent vicious competition and maintain fair market conditions [3] - According to research from Everbright Securities, the elimination of outdated production capacity is crucial for alleviating the oversupply in the photovoltaic industry, with 2025 H1 expected to be a pivotal point for capacity clearance [3] - Zhonglai's controlling shareholder, Zhejiang Energy Power, is expected to provide support in technology research and development, project development, and global expansion, which may facilitate financing and help Zhonglai rebound after the industry clearing cycle [3]