Core Viewpoint - Tongwei Co., Ltd. reported a significant decline in revenue and an increase in net losses for the first half of 2025, primarily due to falling prices in the photovoltaic industry [1] Financial Performance - The company achieved operating revenue of 40.509 billion yuan, a year-on-year decrease of 7.51% [1] - The net profit attributable to shareholders was a loss of 4.955 billion yuan, compared to a loss of 3.129 billion yuan in the same period last year [1] Sales Performance - In the first half of 2025, the company sold 161,300 tons of polysilicon [1] - The sales volume of solar cells reached 49.89 GW [1] - The sales volume of modules was 24.52 GW [1] - In the overseas market, the company sold 5.08 GW [1]

Core Insights - Tongwei Co., Ltd. reported a net profit attributable to shareholders of approximately -4.955 billion yuan for the first half of 2025, indicating a year-on-year increase in losses [1] - The company operates primarily in agriculture and renewable energy, integrating resources in "agriculture (aquaculture) + photovoltaic" for synergistic development [1] - The revenue for the first half of 2025 was approximately 40.509 billion yuan, a year-on-year decrease of 7.51%, attributed mainly to the decline in prices within the photovoltaic industry [1] - On August 22, 2025, Tongwei's stock price increased by 1.79%, closing at 21.03 yuan per share, with a total market capitalization of 94.68 billion yuan [1]