明冠新材上半年净利-5270.53万元，同比转亏

Core Viewpoint - Mingguan New Materials (688560) reported a net profit of approximately -52.71 million yuan for the first half of 2025, indicating a shift to a loss compared to the previous year [1] Financial Performance - The company achieved an operating revenue of approximately 382 million yuan in the first half of 2025, a year-on-year decrease of 36.85% [1] - The net profit attributable to shareholders was approximately -52.71 million yuan, marking a transition from profit to loss compared to the same period last year [1] Business Operations - Mingguan New Materials focuses on the research and sales of complete packaging materials for N-type solar cells [1] - The decline in operating revenue is primarily attributed to the impact of technological iterations in photovoltaic cells, leading to a significant decrease in sales volume of solar cell backs [1] - Although sales volume of solar packaging films increased year-on-year, intensified market competition resulted in a decrease in product sales prices [1]