TZE(SZ:002129) Zheng Quan Shi Bao Wang·2025-10-28 14:04Core Viewpoint - TCL Zhonghuan reported a significant improvement in its third-quarter performance, with a notable increase in revenue while reducing net losses compared to the previous year [1] Financial Performance - Third-quarter revenue reached 8.174 billion yuan, marking a year-on-year increase of 28.34% [1] - Net loss for the third quarter was 1.534 billion yuan, an improvement from a loss of 2.998 billion yuan in the same period last year [1] - For the first three quarters, total revenue was 21.572 billion yuan, reflecting a year-on-year decline of 4.48% [1] - Cumulative net loss for the first three quarters was 5.777 billion yuan, compared to a loss of 6.061 billion yuan in the previous year [1] Industry Context - The photovoltaic industry experienced price fluctuations in the main supply chain due to terminal market demand [1] - From July to September, upstream prices rebounded, positively impacting the profitability of the silicon wafer segment [1] - The company is actively implementing "anti-involution" strategies, focusing on moderate integration and globalization to strengthen its competitive edge in the crystalline silicon wafer business [1] Business Strategy - The company aims to enhance its battery module capabilities and expand its overseas market presence to improve profitability [1] - Year-to-date, the company's photovoltaic business generated sales revenue of 16.01 billion yuan, with a quarter-on-quarter improvement of 22% in the third quarter [1]