Core Viewpoint - Saiwu Technology (603212.SH) is expected to report a net loss of between 82 million to 70 million yuan for the first half of 2025, primarily due to overcapacity in the photovoltaic industry and intensified competition, leading to a decline in product prices and sales [1] Financial Performance - The projected net profit for the first half of 2025 is between -82 million to -70 million yuan, with a non-GAAP net profit forecast of -85 million to -75 million yuan [1] - In the same period last year, the company reported a net profit of -15.49 million yuan and a non-GAAP net profit of -17.39 million yuan [1] - For 2024, the company achieved an operating income of 3.004 billion yuan, a year-on-year decrease of 27.89%, and a net profit attributable to shareholders of -285 million yuan, compared to a profit of 104 million yuan in the previous year [4] Business Segments - Despite challenges in the photovoltaic sector, Saiwu Technology's emerging business segments, including lithium battery and new energy vehicle materials, as well as semiconductor materials, have shown improvement in revenue and gross margin [2] - The company aims to optimize its business structure and product mix to better respond to cyclical risks and create value for investors [2] Capital Raising Activities - Saiwu Technology raised a total of 418.50 million yuan through its initial public offering (IPO) in April 2020, with a net amount of 366.55 million yuan after expenses [2][3] - The company also issued 7 million convertible bonds in 2021, raising a total of 700 million yuan, with a net amount of approximately 694.50 million yuan after deducting underwriting fees [3]