TZE(SZ:002129) Shen Zhen Shang Bao·2026-01-14 00:33Core Viewpoint - TCL Zhonghuan, known as a leader in the silicon wafer industry, has forecasted a net profit loss of 8.2 billion to 9.6 billion yuan for 2025, indicating a slight improvement compared to the previous year's loss of 9.818 billion yuan [1][2]. Financial Performance - The expected net profit loss for 2025 is between 820 million to 960 million yuan, compared to a loss of 981.836 million yuan in the same period last year [2]. - The anticipated loss for the adjusted net profit (excluding non-recurring gains and losses) is projected to be between 860 million to 980 million yuan, down from a loss of 1.090 billion yuan in the previous year [2]. - For the first three quarters of 2025, the company reported a net profit loss of 5.777 billion yuan, with an estimated loss of approximately 2.423 billion to 3.823 billion yuan in the fourth quarter, significantly widening from a loss of 1.534 billion yuan in the third quarter [2]. Industry Context - Despite an increase in new photovoltaic installations, the overall supply and demand remain imbalanced, causing the industry to linger at the bottom of the cycle. Product prices in the main supply chain are adjusting at low levels, which continues to pressure the company's operations [2][3]. Operational Strategy - The company is focusing on improving operational management efficiency, optimizing product structure, and driving technological innovation while maintaining cost control and organizational changes to enhance competitive strength [3]. - The company reported positive operating cash flow during the reporting period [3]. Corporate Developments - The CFO of TCL Zhonghuan, Zhang Changxu, has submitted his resignation from the CFO position but will continue as a board member and take on the role of Senior Vice President, focusing on power station business and assisting the CEO with strategic projects [4]. - As of January 13, the company's stock price closed at 8.83 yuan per share, down 3.29%, with a total market capitalization of approximately 35.701 billion yuan, reflecting a 7% increase in stock price over the past year [4].