Funshine Culture(SZ:300860) Sou Hu Cai Jing·2026-02-13 07:20Core Viewpoint - The company has decided to terminate the solar backsheet and functional film production base project due to emerging overcapacity in the photovoltaic industry and increasing price competition, which is expected to lead to widespread losses in 2024 and 2025 [2]. Group 1: Project Investment and Termination - The total investment for the solar backsheet and functional film production base project is estimated at 5 billion yuan, with a wholly-owned subsidiary established for its implementation [1]. - The subsidiary has a registered capital of 100 million yuan [1]. - The decision to terminate the project was made after careful analysis of market changes and the anticipated decline in profitability of photovoltaic packaging materials due to industry competition [2]. Group 2: Industry Context - The photovoltaic industry is currently experiencing a period of adjustment, with signs of overcapacity and intensified price competition [2]. - The management anticipates that the industry will face significant losses in 2024 and 2025, prompting the decision to halt the project to avoid increasing operational costs [2]. Group 3: Company Overview - The company operates in the solar materials and lithium battery materials sectors, holding the largest global market share in solar backsheet shipments [4]. - It has pioneered comprehensive solutions for n-type battery packaging materials, including TOPCon, HJT, and IBC technologies [4].