HIUV(SH:688680) Xin Lang Cai Jing·2026-01-19 11:21Core Viewpoint - Company expects a net loss of between 520 million yuan and 440 million yuan for the year 2025, with a non-recurring net profit loss estimated between 510 million yuan and 430 million yuan [1][5]. Financial Performance - The anticipated losses are attributed to the ongoing supply-demand imbalance in the photovoltaic industry, leading to reduced sales volume and low profit margins for the company's photovoltaic film products [5]. - The company is actively reducing the scale of its photovoltaic film business and focusing on cost management, which includes reducing inventory impairment provisions [5]. Industry Context - The photovoltaic industry is currently experiencing a significant adjustment phase, characterized by overcapacity and intense price competition, which is impacting profitability [5][6]. - A senior industry observer noted that the industry is in a deep adjustment phase, with inventory issues persisting, and a recovery is expected to depend on capacity reduction and improved end-demand [6]. Business Development - Company is accelerating its overseas photovoltaic film business layout while optimizing its domestic industry structure [5]. - The company is exploring a dual-main business model, with its automotive materials business entering a critical development phase, which may require short-term R&D and market investments [5]. Market Position - As of January 19, the company's stock closed at 54.01 yuan per share, reflecting a decrease of 0.79%, with a total market capitalization of 4.538 billion yuan [7].