Core Viewpoint - The company reported a significant decline in revenue and incurred net losses in the third quarter of 2025, attributed to increased competition and reduced sales prices in the industry [1] Financial Performance - In Q3 2025, the company achieved revenue of 1.267 billion yuan, a year-on-year decrease of 15.92% [1] - For the first three quarters of 2025, the company reported total revenue of 3.893 billion yuan, down 10.16% year-on-year [1] - The net loss for Q3 2025 was 73.4237 million yuan, while the net loss for the first three quarters amounted to 222.3 million yuan [1] Industry Context - The decline in revenue is primarily due to industry capacity release, intensified competition, and a decrease in product sales prices [1] - There was a noted reduction in the sales volume of photovoltaic backplane materials, contributing to the overall revenue decline [1]

Core Viewpoint - The company reported a significant decline in revenue and incurred losses in the third quarter of 2025, attributed to increased competition and reduced sales prices in the industry [1] Financial Performance - In Q3 2025, the company achieved a revenue of 1.267 billion yuan, a year-on-year decrease of 15.92% [1] - For the first three quarters of 2025, the company reported a total revenue of 3.893 billion yuan, down 10.16% year-on-year [1] - The net loss for Q3 2025 was 73.4237 million yuan, while the net loss for the first three quarters amounted to 222.3 million yuan [1] Industry Context - The decline in revenue is primarily due to industry capacity release, intensified competition, and a decrease in product sales prices [1] - There was a noted reduction in the sales volume of photovoltaic backplane substrates, contributing to the overall revenue drop [1]