亿晶光电2025年预亏4.5亿元至6亿元 期末净资产或将为负

Core Viewpoint - Yichin Photovoltaic (600537.SH) is expected to report a net loss attributable to shareholders of the parent company between 450 million to 600 million yuan for the fiscal year 2025, with a projected net asset value at the end of 2025 ranging from -68 million to -130 million yuan, which may trigger a delisting risk warning from the Shanghai Stock Exchange [2][3] Financial Performance - For the first three quarters of 2025, Yichin Photovoltaic achieved revenue of 1.556 billion yuan, a year-on-year decline of 42.58%, and reported a net profit of -214 million yuan [5] Operational Challenges - The company is facing significant operational challenges due to a structural mismatch in production capacity, leading to a persistent supply-demand imbalance and overall industry weakness, which has not allowed for a recovery in profitability [3] - The absence of a controlling shareholder and actual controller, following the judicial auction of all shares held by the former major shareholder, has adversely affected the company's credit status and financing capabilities, resulting in tightened liquidity and significant constraints on operational activities [3] Asset Impairment - In response to the decline in prices of its main business products, solar cell modules, the company has conducted impairment tests on inventory and fixed assets, leading to the recognition of asset impairment provisions that have significantly impacted its financial performance [5]