Drinda(SZ:002865) Zheng Quan Shi Bao Wang·2025-07-14 13:25Group 1 - The company expects a net profit attributable to shareholders of -2 billion to -3 billion yuan for the first half of 2025, primarily due to supply-demand mismatches and price declines in the photovoltaic industry [1] - Despite facing cyclical adjustments, the company has made significant progress in global market expansion, core technology breakthroughs, and capital operations, demonstrating resilience as a leading Chinese photovoltaic cell manufacturer [1] Group 2 - The company's overseas sales ratio has surged to 51.90% in the first half of 2025, nearly doubling from 23.85% in 2024, indicating strong demand for its efficient battery products in international markets [2] - The company has been actively expanding its market network across Asia, Europe, North America, Latin America, and Australia, becoming a leading supplier of battery cells in markets like India and Turkey [2] Group 3 - The global photovoltaic industry is undergoing significant structural adjustments, with global installed capacity demand continuing to grow, particularly in China, which saw a new installed capacity of 197.85 GW, a year-on-year increase of 150% [3] - The industry faces challenges such as overcapacity and declining product prices, prompting a shift in national policy to guide the industry back to a healthier trajectory [3] Group 4 - The company is a typical representative of the ongoing transformation in the photovoltaic sector, leading in global market share for N-type TOPCon batteries and continuously improving efficiency through advanced technologies [4] - With the acceleration of the exit of outdated production capacity driven by policy changes, the company is expected to benefit from increased market share and improved profitability [4] Group 5 - The company successfully listed on the Hong Kong Stock Exchange on May 8, 2025, raising a net amount of 1.29 billion HKD, and was included in the Shanghai-Hong Kong Stock Connect on June 3, enhancing liquidity and valuation [5] - The company aims to achieve high-quality development through the synergy of domestic and international business, technology optimization, and capital-driven strategies [5]