智通财经APP讯，天合光能(688599.SH)披露2025年度业绩快报，2025年度公司实现营业总收入672.79亿 元，同比下降16.20%;归属于母公司所有者的净利润亏损69.94亿元，上年同期亏损34.43亿元。 报告期内，光伏行业仍面临阶段性供需失衡，产业链各环节开工率处于低位，市场竞争进一步加剧，叠 加国际贸易保护政策持续影响，上半年光伏产品价格较去年同期普遍承压;尽管下半年光伏产品价格在 行业反内卷工作推进下逐步提升，然而受硅料、银浆等关键原材料成本快速上涨的影响，公司组件业务 全年盈利能力较上年同期有所下滑，2025年度公司经营业绩仍然亏损。同时基于谨慎性原则，公司对出 现减值迹象的长期资产进行减值测试，经过审慎评估将按照业会计准则计提资产减值准备，对业绩有一 定影响。 ...

Core Viewpoint - The company expects a negative net profit for the fiscal year 2025, with a projected net profit attributable to shareholders ranging from -60 million to -35 million yuan, compared to a loss of 1.174 billion yuan in the same period last year [1] Financial Performance - The net profit excluding non-recurring gains and losses is anticipated to be between -350 million and -240 million yuan, down from a loss of 2.252 billion yuan in the previous year [1] Industry Context - The photovoltaic industry is experiencing intensified competition, leading to weak effective market demand [1] - International trade protection policies are impacting the company's ability to expand its photovoltaic business and profitability [1]

Core Viewpoint - Jingao Technology (002459) expects a net loss of 4.5 billion to 4.8 billion yuan for 2025, compared to a loss of 4.656 billion yuan in the same period last year [1] Company Performance - The company maintains a leading position in battery module shipments within the industry [1] - The operating performance has shown a temporary loss due to various factors affecting profitability [1] Industry Context - The photovoltaic industry is experiencing a phase of supply-demand imbalance due to the concentrated release of production capacity across the main industry chain [1] - Increased competition within the industry has led to a downward pressure on the prices of major products compared to the same period last year [1] - International trade protection policies have intensified, contributing to a decline in the average sales price and profitability of the company's modules year-on-year [1]