Core Viewpoint - The company, Junda Co., Ltd. (stock code: 02865), 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 previous 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] - Despite the high growth in demand, the industry is experiencing an imbalance in supply and demand, remaining at the bottom of the cycle [1] Company Performance - The company is facing operational pressure due to multiple factors, including poor price transmission along the main industry chain, leading to a phase of loss [1] - The company plans to make asset impairment provisions based on a cautious principle, which will impact current performance [1] Strategic Initiatives - In response to the challenges of the industry adjustment cycle, the company is committed to advancing its globalization strategy, with overseas sales accounting for over 50% of total sales [1] - The company has become a core supplier of PV cells in overseas markets and is simultaneously promoting local capacity layout in these regions [1] Capital Market Developments - The company successfully listed on the main board of 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] 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 drive operational performance recovery and long-term sustainable growth [1]