Yuneng Technology (SH:688348) Ge Long Hui·2026-01-30 08:09Core Viewpoint - YN Technology (688348.SH) is expected to report a net loss attributable to shareholders of the parent company for the fiscal year 2025, with estimates ranging from -140 million to -115 million yuan, indicating a significant decline compared to the previous year [1] Financial Performance - The projected net profit attributable to shareholders of the parent company for 2025 is expected to be between -160 million and -135 million yuan when excluding non-recurring gains and losses [1] Market Conditions - The European photovoltaic market has been adversely affected by fluctuations in energy prices and the reduction of support policies for residential photovoltaic installations, leading to a significant year-on-year decline in installed capacity [1] - As a result, the sales revenue and gross profit of the company's micro-inverters have also decreased [1] R&D and Innovation - The company continues to drive its growth through research and development, focusing on enhancing its integrated solar-storage product matrix and upgrading its solar-storage solutions [1] - There has been a rapid increase in R&D expenses due to the strengthening of talent reserves and increased investment in research and development [1] Global Expansion - The company is steadily advancing its localization channel construction in overseas markets and improving its global business layout [1] - Increased efforts have been made to expand into emerging markets in Asia, Africa, and Latin America, resulting in a year-on-year increase in sales expenses [1]