Core Viewpoint - The inverter export scale continues to decline amid slowing global photovoltaic (PV) installation growth and a drop in domestic demand after a surge in the second quarter, significantly impacting Jinlang Technology's third-quarter revenue and net profit [1][2]. Group 1: Company Performance - Jinlang Technology reported a revenue of 5.663 billion yuan for the first three quarters of the year, a year-on-year increase of 9.71%, with a net profit of 865 million yuan, up 29.39% year-on-year [1]. - In the third quarter, the company achieved a revenue of 1.869 billion yuan, showing a slight year-on-year increase of 3.43%, but a significant quarter-on-quarter decline of 17.92% from 2.276 billion yuan in the second quarter [1]. - The net profit for the third quarter was 263 million yuan, down 16.85% year-on-year and a decrease of 35.38% compared to the second quarter's 407 million yuan [1]. Group 2: Market Conditions - The newly installed PV capacity in China decreased by 55.3% year-on-year and 33.3% month-on-month in August, indicating a slowdown in the PV installation market [2]. - In August, the export value of inverters was 6.29 billion yuan, a year-on-year increase of 2.2%, but a month-on-month decline of 3.4%, with the largest drop in exports to North America [2]. Group 3: Future Plans - Jinlang Technology plans to raise 1.677 billion yuan through convertible bonds to expand its distributed PV power station and high-voltage high-power inverter businesses [3]. - The company aims to increase production capacity for high-voltage inverters and mixed storage inverters, expecting an annual net profit increase of approximately 77.28 million yuan and 124 million yuan, respectively, after project completion [3][4]. - The planned 120 MW distributed PV power station is expected to generate an annual revenue increase of about 40.65 million yuan and a net profit increase of approximately 15.39 million yuan [3].