S.C(SZ:300724) 凤凰网财经·2025-09-10 13:32Core Viewpoint - The photovoltaic industry is experiencing a phase of improvement after facing challenges, with leading companies beginning to recover in terms of revenue and narrowing net profit losses [2][4]. Group 1: Industry Performance - The issue of internal competition driven by capacity is gradually being resolved, and industry leaders are expected to reach a new level after enduring a cyclical pain period [3]. - Currently, the performance of leading photovoltaic companies has not yet reached a turning point, but there are positive signs as their revenues have started to stabilize and recover [4]. - Capital markets have reacted positively, with leading photovoltaic companies initiating a rally, particularly those involved in equipment manufacturing [5]. Group 2: Company Performance - Jiejia Weichuang reported a significant increase in its mid-2025 performance, achieving revenue of 8.372 billion yuan, a year-on-year growth of 26.41%, and a net profit of 1.830 billion yuan, up 49.26% [5][6]. - The company has consistently shown growth, with no annual revenue decline since its establishment in 2003, and its revenue surged from 2.527 billion yuan in 2019 to 18.887 billion yuan in 2024 [7]. - Jiejia Weichuang's stock price has significantly outperformed its peers, with a maximum increase of over 120% since early April, and its market capitalization exceeding 41 billion yuan [8]. Group 3: Future Outlook and Risks - Despite strong performance, there are concerns regarding the company's second-quarter revenue growth, which was the lowest since Q3 2022, at 5.66% [19]. - The photovoltaic industry is subject to rapid technological changes, and any significant breakthroughs in alternative technologies could pose risks to the current market leaders [21][22]. - Jiejia Weichuang is diversifying its technology portfolio and has extended into semiconductor equipment and lithium battery sectors to mitigate risks [23].