协鑫集成：2025年全年预计净亏损8.90亿元—12.90亿元

Core Viewpoint - GCL-Poly Energy Holdings Limited is expected to report a significant net loss for the year 2025, with estimates ranging from 890 million to 1.29 billion yuan for net loss attributable to shareholders [1] Company Summary - The company anticipates a net loss of 920 million to 1.34 billion yuan when excluding non-recurring gains and losses for the year 2025 [1] - The losses are attributed to ongoing structural supply-demand imbalances in the photovoltaic industry, which are exacerbated by rising prices of key raw materials such as silver paste, aluminum frames, and solder strips in the second half of the year [1] Industry Summary - The photovoltaic industry is experiencing continuous advancement driven by policy guidance and supply-demand adjustments [1] - The overall price pressure across the entire industry chain is leading to a challenging market environment, where component prices are constrained by end-market demand despite significant increases in raw material costs [1]