光伏行业预亏警报拉响！龙头股预亏近70亿元，股价却不跌反涨

Core Viewpoint - JinkoSolar, a leading company in the photovoltaic industry, is expected to report a significant loss for the year 2025, marking its first annual loss in nearly a decade, despite a rise in its stock price on the announcement day [1] Group 1: Company Performance - JinkoSolar forecasts a net profit loss of between 59 billion to 69 billion yuan for 2025, with a non-recurring net profit loss estimated between 67 billion to 78 billion yuan, compared to a net profit of 0.99 billion yuan in the same period last year [1] - The company attributes its expected losses to intensified price fluctuations in the global photovoltaic supply chain and a general decline in profitability across various segments [1] - Other companies in the photovoltaic sector, including Trina Solar, LONGi Green Energy, and Tongwei Co., have also reported similar forecasts, indicating a trend of expected losses across the industry [2][4] Group 2: Industry Trends - As of January 22, 2023, 20 photovoltaic companies have disclosed their 2025 performance forecasts, with many expecting significant losses, highlighting a broader industry downturn [2] - Tongwei Co. anticipates losses of 90 billion to 100 billion yuan, citing ongoing supply surplus and price declines, while TCL Zhonghuan expects losses between 82 billion to 96 billion yuan due to persistent low prices [3][4] - The industry is facing challenges such as rising raw material costs and insufficient price transmission to downstream markets, which are squeezing profit margins for major players [4] Group 3: Positive Signals - Only Hongyuan Green Energy is expected to turn a profit, with a forecasted net profit of 1.8 billion to 2.5 billion yuan, attributed to its vertically integrated supply chain and strategic asset sales [5] - Some companies, like Aiko Solar, report a narrowing of loss margins compared to the previous year, indicating potential improvements in operational efficiency and cost management [5] - Analysts suggest that the space photovoltaic sector may emerge as a new growth area, driven by the demand for satellite internet and advancements in photovoltaic technologies [6]