Drinda(SZ:002865) Zhi Tong Cai Jing·2026-01-16 14:40Core Viewpoint - JunDa Co., Ltd. (002865) expects a net loss attributable to shareholders of 1.2 billion to 1.5 billion yuan for the fiscal year 2025, compared to a loss of 591 million yuan in the same period last year [1] Industry Overview - The global photovoltaic (PV) installed capacity continues to grow significantly, with particularly strong demand for PV cells in overseas markets [1] - However, the industry is still at the bottom of the cycle due to supply-demand imbalances and poor price transmission along the main industrial chain, leading to operational pressures and temporary losses for companies [1] Company Performance - The company plans to make asset impairment provisions based on a cautious principle, which will have a certain impact on current performance [1] - Despite the challenges of the industry adjustment cycle, the company is committed to advancing its globalization strategy, with overseas sales accounting for over 50%, establishing itself as a core supplier of PV cells in overseas markets [1] Strategic Developments - The company successfully listed on the Hong Kong Stock Exchange in May 2025, becoming the first in the PV industry to achieve dual-platform listing (A+H shares), providing strong capital support for long-term sustainable business development [1] - The company is also investing in partnerships to cultivate new business growth points [1] Future Outlook - The company will continue to strengthen its core competitiveness in the PV cell business, deepen its global strategic layout, and actively explore new business growth points to promote operational performance recovery and long-term sustainable growth [1]