Mei Ri Jing Ji Xin Wen·2025-08-28 13:28Core Viewpoint - The photovoltaic glass industry is experiencing price adjustments and production capacity reductions due to declining sales and increased competition, with leading company Fulete facing significant revenue and profit declines in the first half of 2025 [1][2][3]. Company Summary - Fulete's revenue for the first half of 2025 was 7.737 billion yuan, a year-on-year decrease of 27.66%, with net profit down 82.58% to 261 million yuan, attributed to falling sales prices and volumes of photovoltaic glass [1]. - The contribution of photovoltaic glass to Fulete's revenue has dropped below 90% for the first time in two years, with 89.76% in the first half of 2025, down from 91.42% in 2023 [2]. - Fulete has reduced its production capacity by cooling three glass furnaces, resulting in a current daily melting capacity of 16,400 tons, down from 19,400 tons at the end of 2024 [2]. Industry Summary - The photovoltaic glass industry has seen a significant reduction in production capacity, with domestic capacity dropping from 100,000 tons per day at the end of May to 89,000 tons per day by the end of July [4]. - The industry is experiencing a rebound in glass prices due to low inventory levels and increased demand from downstream component manufacturers, with the price of 2.0mm glass rising from a low of 10.5 yuan to 11 yuan per square meter [4][6]. - Recent government measures aim to combat below-cost sales, which may help stabilize prices and encourage the exit of less competitive production capacities [4][6].