锚定"质量效益" 中来股份半年报减亏增效成果显著

Core Viewpoint - The photovoltaic industry is undergoing a significant adjustment in 2025, shifting from "scale expansion" to "quality and efficiency" amid rapid energy transition and technological iterations in the solar sector [1] Financial Performance - Company reported revenue of approximately 3.3 billion yuan, a year-on-year increase of 7.25% - The net profit attributable to shareholders was approximately -169 million yuan, a reduction in losses by 44.83% compared to the same period last year - The net profit after deducting non-recurring items was approximately -190 million yuan, a reduction in losses by 43.45% year-on-year [1] Technological Advancements - Company is one of the earliest to achieve GW-level mass production of N-type TOPCon technology, continuously enhancing its "technology + market" dual-drive strategy [1] - The company’s N-type TOPCon battery laboratory achieved a conversion efficiency of 26.99%, with mass production testing efficiency exceeding 27% [3] - The average conversion efficiency of components is 23.14%, with first-year degradation not exceeding 1% and 25-year degradation not exceeding 10.6% [3] Product Development - The company has launched differentiated products in the backplane business, including FFC backplane, transparent grid backplane, and enhanced backplane, focusing on improving insulation performance [2] - The N-type all-glass encapsulation solution 2.0 significantly enhances component performance and production efficiency, certified for various applications [3] Market Position and Projects - The company successfully supported the 370,000 kW photovoltaic project in Akesu, Xinjiang, showcasing its components' performance in extreme weather conditions [4] - The company signed a contract for a 100MW ecological solar energy demonstration project in Chongqing, further validating its components' adaptability in large ground power stations [4] Business Growth - The photovoltaic application business saw a revenue increase of 56.86% year-on-year, with a complete business model established for distributed household solar projects [5] - The company has developed diverse installation solutions to meet various user needs and has secured a significant operation and maintenance project worth approximately 280 million yuan [5][6] Industry Outlook - The photovoltaic industry is expected to face a critical period of capacity clearing and technological iteration in the second half of 2025, with policies promoting high-quality development benefiting leading companies with technological barriers [6]