金晶科技：前三季度实现营收34.61亿元 加快TCO玻璃市场拓展

Core Viewpoint - Jin Jing Technology (金晶科技) is focusing on product differentiation and optimizing its product structure to adapt to market changes, while also reducing production costs and enhancing its position in the TCO glass market [1][2][3] Group 1: Financial Performance - For the first nine months of 2025, the company achieved a revenue of 3.461 billion yuan [1] - The company has repurchased 20.7979 million shares, accounting for 1.47% of its total share capital, with a total repurchase amount exceeding 100 million yuan [3] Group 2: Market Position and Strategy - Jin Jing Technology is a leading player in the ultra-white glass market in China, aligning its strategy with national urban renewal and dual carbon goals [1] - The company is advancing in the TCO glass segment, having broken the long-standing foreign technology monopoly, significantly increasing the domestic market share of core materials for perovskite batteries [1][2] Group 3: Production and Technological Advancements - The company is upgrading its TCO glass production line with an investment of 49.5 million yuan, aiming for an annual production capacity of 20 million square meters of TCO coated glass [2] - Recent upgrades to the No. 5 ultra-white glass production line are expected to enhance the light transmittance from 91.5% to 92%, improving the photovoltaic conversion rate of TCO conductive glass products [2] Group 4: Future Outlook - The TCO glass market in China is projected to reach 12 billion yuan in 2024 and 18 billion yuan in 2025, with a compound annual growth rate of approximately 16% [2] - The global TCO glass market is expected to grow from 676 million USD in 2025 to 2.082 billion USD by 2032, with a compound annual growth rate of 17.43% from 2025 to 2032 [2]