Core Insights - The company reported a revenue of RMB 3,655.6 million for the six months ending June 30, 2025, a decrease of approximately 42.5% compared to RMB 6,355.4 million in the same period of 2024 [1] - The decline in revenue was primarily due to a 67.9% decrease in the mainland China market, attributed to reduced sales of photovoltaic cells and a drop in current market prices [1] - This decline was partially offset by a significant increase of 116.2% in revenue from markets outside mainland China, indicating a strategic shift towards globalization, including the expansion of overseas markets and enhancement of international sales networks [1] - The company recorded a loss of RMB 263.7 million for the first half of 2025, compared to a loss of RMB 166.3 million in the same period of 2024 [1] Technology and Efficiency Improvements - In the first half of 2025, the company focused on core photovoltaic technologies, continuously optimizing and upgrading N-type cell processing technology [1] - Various cost-reduction and efficiency-enhancing measures were implemented, including metal composite reduction, improved passivation performance, optimized optical performance, and finer grid lines [1] - The average production conversion efficiency of the company's cells increased by over 0.2%, while the non-silicon cost per watt decreased by approximately 20% [1]