明冠新材：2025年净亏损1.38亿元

Core Viewpoint - Minguan New Materials reported a total operating revenue of 720 million yuan for the fiscal year 2025, representing a year-on-year decline of 16.70% and a net loss of 138 million yuan, compared to a net loss of 67.08 million yuan in the same period last year [1] Group 1: Business Performance - The solar cell backsheet business experienced a significant decline in shipment volume due to reduced market demand [1] - The solar packaging film business saw a slight year-on-year increase in production and sales volume, but continuous price declines led to a decrease in operating revenue [1]